1a, just ignore this crap. You can post your blotters and your trades and your charts for a year and a half on ET (and even call your live trades in a chat room) and someone will chime in and accuse you of pulling something out your ass. It happened to me recently and I frankly was thrown off balance by that. Then I realized that when you're a consistently profitable trader, it can seem impossible to some people who are struggling and so you get these kinds of accusations.
"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
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1a, just ignore this crap. You can post your blotters and your trades and your charts for a year and a half on ET (and even call your live trades in a chat room) and someone will chime in and accuse you of pulling something out your ass. It happened to me recently and I frankly was thrown off balance by that. Then I realized that when you're a consistently profitable trader, it can seem impossible to some people who are struggling and so you get these kinds of accusations.
struggling???? that's the pot calling the kettle black......you still churning out $5 bucks a day while hubby is out working hard to pay the bills?
He's buying one contract at 38.2%, three contracts at 50%, and five contracts at 61.8%, his stop loss is the 100% retrace, and his profit target the 0%. You need a spreadsheet to see that with a full position his average price is below the 50% level price?
Seriously dude, of course you're struggling. Is there any other reason for you to waste your time ripping apart a strategy you don't understand? Why not unsubscribe from this thread and troll on elsewhere? Surely there are better ways to feed your ego.
Sure you can. It's not super far away from 50%, but it's still below it.
(Remember however that I said this is a modification of another method that I changed just to use fib numbers (because fibs are super magical nature harmonic numbers and price is attracted to them based on the power of seashells!
))Uh... ok then!
Anyway, also keep in mind that this is really only half of the method. There's another hedging component. But I'm not even going to introduce that for a while cuz I'm not in the mood to deal with all the people who are like "ZOMG DOOD DON'T U KNOW THAT BEING LONG AND SHORT AT THE SAME TIEM IS THE SAME AS BEING FLAT LOLOLOL!"
Why?
That would potentially require using a LOT of contracts for narrow trading ranges (assuming the wide ranges still use 1, 3, 5). I'm not comfortable opening more than 9 contracts or so.
And even so, why? I don't care if my trades' profits and losses are different sizes. I don't see any reason to change things.
roflmao...let's see..I'm the president of my own company.....and you're some fucking piker whose licking 1a's ass. "Dude" I piss away more money in a month than you probably make in a year. You're just some pathetic little ass wipe retard who thinks he's gona get rich daytrading. What a joke you are. Now go run along and kiss some 1a ass....
You might have an easier time convincing others of your success if you acted more like a person who has enjoyed success. This is my last post to you. I know people like you need to get the last word in, so let's have it so the OP can continue.
Quote from 1a2b3cppp:
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(because fibs are super magical nature harmonic numbers and price is attracted to them based on the power of seashells!
fibonacci's ghost playing with seashells #s 61. 161. 261
http://www.sierrachart.com/userimages/upload_2/1268294443_98_UploadImage.png
you don't get it. The point is that if fib were true expectancy should be greater than 50 percent and the amount gained should be greater than amt. lost on each trade as well. Its not a bad way to test. Now keep your damn mouth shut. Why do you feel the need to clog this place up with such shit? I will add some other input. There's a few more ways to trade each level with size and reduce risk at the same time.