The only way to trade with fibonacci
- Thread starter 1a2b3cppp
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lol, don't get me wrong, I'm confident that your explanation will prove to be the most reasonable... But I'm interested in hearing what the theory behind this is according to an actual proponent.
What are we running out of thread space or something? shut up.
To be honest I glossed over most of the posts in this thread. I get it though, you're being a sardonic prick (which i like). It was somewhat of a rhetorical question I guess?
OP, you sent me a pm, but why should I post on a thread that patronizes, and undermines the way I trade? Is the goal of this thread to create some giant shit storm?..sure appears that way, and I wont be a part of it, sorry.
Your rules are too simple.
You have to adjust your theory.
At fib levels the price will either bounce or break through.
You will know after the fact any way.
This way you can have 100% accuracy
(except when it gets stalled at those levels. But this would be the best proof that they magically attract price.)
You have to adjust your theory.
At fib levels the price will either bounce or break through.
You will know after the fact any way.
This way you can have 100% accuracy
(except when it gets stalled at those levels. But this would be the best proof that they magically attract price.)
I just know you use fibs so I figured you might find the information in this thread beneficial
. I really don't care one way or the other.You will find, however, that this thread is more complete than any of the other fib information you may have seen.
I'm sarcastic because fib "theory" is ridiculous and the "gurus" who promote it are sham artists who never give specifics.
You will find that this thread is not that way. I'm not vague and I don't bullshit.
If you are too busy having your feelings hurt because I made fun of fibs and called them hocus pocus, then I guess you will miss out on the discussion. If you are unable to separate cynical writing from fact, then that's your loss. But if you have ever thought "WOW, there sure is a LOT of bullshit in the trading world. What is so special about fibs, anyway?" as opposed to believing in their mystical natural resonance of harmonic frequencies on a seashell because some guru told you so, then you are welcome to stay and participate. I know you are serious about learning to trade so it would be cool to get your input.
The theory is that price will retrace at some point, and that its most likely to come down to a certain level, and its usually at a fib...how many times do you see a price retrace 75% or more?..it doesn't..it usually slows down near one of these levels, but th e OP doesn't know how to trade them, and is rather ignorant when it comes to them..he drew charts of fibs, then drew a buy point at each one...i dont know anyone that buys at each level, or tries 3 seperate times to get it right. Further more he was buying when price was showing NO support what so ever, and then saying LOOK GUYS, this stuff is "HOCUS POCUS!"... he doesn't trade...its obvious.
Fibs are not, and were never ment to be a magic bullet system..you have to understand price movement, and take the appropriate fib retracement levels. Sometimes I get it right, sometimes I dont.
Fibs are not, and were never ment to be a magic bullet system..you have to understand price movement, and take the appropriate fib retracement levels. Sometimes I get it right, sometimes I dont.
You left out the fact about HOW the fib percentages were arrived at in the first place. THAT is the part that is completely unrelated to trading.
Did you even read my posts in this thread?
I laid out SPECIFIC RULES for trading them that are based entirely on the fact that IF price retraces to them and reverses more often than it does any other %, (which is what fib traders claim), then this sytem will be insanely profitable.
You also probably don't know anyone who is a profitable trader.
*sigh*
Let me try to explain this one more time.
Fib Gurus say - "Price reverses at fib numbers." Yet they never give any specifics for which of the fib numbers price reverses at, or why. If it works, they claim to be gurus. If it doesn't work, they make up excuses. If you ask them "how come sometimes it reverses at 38% and sometimes at 50% and other times at some non-fib level?" they will reply with vague bullshit about the ratio of a seashells spiral or something.
I say - "If price is more likely to reverse at a fib level (which fib traders claim is the case) then buy at all 3, and it eliminates having to pick which one it will reverse at." I don't know about you, but I suck at picking tops and bottoms. I'd hate to buy at 38.2% and then have price go down to 61% and I get stopped out. I'd also hate to be preparing to buy at 50% but price decided to reverse at 38.2% and I never even entered.
This way, if price reverses at any of the fib levels (which is what fib traders believe will happen), you will make money.
What is so hard to understand about that?
First of all, most of my charts show profitable (or very profitable) trades. It's not like I posted 50 charts of losing trades and said "LOL FIBS SUCK."
Again, I think you need to re-read some of my posts in this thread because your criticisms of me aren't founded in any logic. Maybe you're just frustrated that you aren't profitable and are taking it out on me.
I said conventional fib theory is hocus pocus bullshit. But this method is designed to take advantage of the fib numbers that price supposedly reverses at.
Don't get upset at me because you don't understand something. But feel free to ask questions if you have any.
There is no way of knowing what fib will be respected. PERIOD. Happy?
I drew some channels on a chart, I want you to tell me which channel, price will form support/ resistance at next AND at what price.
I drew some channels on a chart, I want you to tell me which channel, price will form support/ resistance at next AND at what price.
No idea.
But I'm not a person to claim to be able to predict price.
All I'm saying is if price reverses at Fib levels, the method I have laid out here will be wildly profitable. It can reverse at any of them.
Speaking of that chart you uploaded, I have shown some instances of using this method and how the trades would have played out for that same chart.
This is all from the same chart that you uploaded.
GREEN CIRCLES ARE BUYS, RED CIRCLES ARE SELLS
I hope these are explanatory but if you have any questions, ask away.
Huge profit:
Medium profit:
Small profit:
Small profit:
Full loss:
Medium profit:
Current:
