Quote from chrisjs87:
konviction, what is the theory behind Fibonacci trading systems? More specifically, I'd really like to know how and why fibonacci sequences relate to stock prices.
they don't relate. People see them in nature, and blindly assume they do. They have been tested more than once, and found unrelated.
It is the same clueless assumption that things like TA must be self-fulfilling, just because people use it. There is a serious lack of critical thinking/testing.
That and poor money management is why so few actually make money