Why is it funny to point out what doesn't work, especially when it has been so thoroughly established? The reason that > 95% of traders lose their money, is they are taught and sold a load of horse manure and spend months and years trying to make it work, as most classical TA is? The scary thing is, when the person ignores the evidence and claims "works for me." That is called "imbecile."
Trader Girl Forex Trades
- Thread starter amytrade
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Why is it funny to point out what doesn't work, especially when it has been so thoroughly established? The reason that > 95% of traders lose their money, is they are taught and sold a load of horse manure and spend months and years trying to make it work, as most classical TA is? The scary thing is, when the person ignores the evidence and claims "works for me." That is called "imbecile."
I posted an exhaustive, well-performed institutional study that blows the value of round numbers and fib levels out of the water. In other words, the choice of "level" is completely irrelevant.
AmyTtrade? She ignores it, points to a couple of trades she made as "proof to the contrary." The woman hasn't the first clue about statistical analysis. Only a vacuum head would claim 2 trades were proof of anything. She throws up numbers, and claims a "ton of money she made." I asked for broker statements. She goes quiet.
In fact, she so believes in Fib, that she then says "OK, call it voodoo levels then." A true putz.
She is most likely a person with 6-12 months of reading a couple books, and doing paper trading, maybe even hoping to get some kind of paid signal service from "Trader Girl." She is a complete piker with no math understanding to her name.
Draw your own conclusions. She has developed a few supporters who know even less about trading than she does. It is scary when people are ardent admirers, with little ability to ask pointed questions or counter such amatuer crap.
"Oh, don't say anything bad about Amy" It is so nice she takes time to post crap for us willing students, who want to make the same paper profits Amy doers. God bless you, Amy Gurl Amy is short for Amatuer."
I am half attempted to call her bluff, and send her claims to the authorities about making "a ton of money" for her publications. I am sure there may be interest if she goes paid service and she lied through her teeth.
Traderzone likes Amytrade!!
"Typically the use of Fibs involves a Fib drawing tool (like amytrade is using) and TALENT in picking relevant swing highs or swing lows to attach them to! "
Thats what I am talking about. It again comes down to art not science. Would be nice you can at least admit that because there is simply no validity in fib levels. You claim it works for you, but if it was a valid method then it would work for everyone. As you can see from the number of critical posts, it DOES NOT!!! Given you are at least a rational person, that should lead you to the result that fib levels are nothing else than gann levels, nothing else than elliot waves, nothing more than astrology. Its an art not a science, because you can pick your relevant levels anywhere, meaning, you can create fib levels at ANY zone you wish.
Thats what I am talking about. It again comes down to art not science. Would be nice you can at least admit that because there is simply no validity in fib levels. You claim it works for you, but if it was a valid method then it would work for everyone. As you can see from the number of critical posts, it DOES NOT!!! Given you are at least a rational person, that should lead you to the result that fib levels are nothing else than gann levels, nothing else than elliot waves, nothing more than astrology. Its an art not a science, because you can pick your relevant levels anywhere, meaning, you can create fib levels at ANY zone you wish.
I am not 'claiming' it works for me the evidence is in the levels I post the DAY BEFORE. When price comes to this the NEXT day I take trades and make money. Nothing secretive about what I do and I've told you how I come up with them.
Why don't you post some price levels YOU feel markets will stop at like I have and lets compare YOUR results to mine. Then we'll see the TRUE imbecile. I know btw that you would NEVER do this because then you can't claim to be a profitable trader and nobody would ever take you seriously on here EVER again.
Feel up to the challenge? I sure HOPE you do and are not just some piker pretending to be a good trader! We'll soon see!
Hey moron, people on here have asked for my website, for me to teach them, and I've repeatedly said NO! I have no interest in trading other people's accounts or teaching, have no website, and could care less if you believe me or not.
Again why don't YOU call out some of the trades you'll do the next day and see how your market analysis compares to mine.
Afraid to get your A$$ whooped by a girl? For somebody who obviously doesn't make money trading you sure have a big ego. Talk is cheap buddy PUT UP or shut up. Throw out some of your next day's buy/sell levels like I do every day. I've called out 75%+ correct reversal areas and all you do is blow hot air.
People who are MOST complaining about my profitable use of fibs obviously have NOT read my posts and/or looked at the screen shots.
Let me explain it to you guys who seem a bit slow thinking to me.
Fibs are NOT my entire system and I never once, not once claimed they were!
I look at previous days/weeks/months highs/lows and pivot points AND FIBS. When I find a clustering of 2/3 of these and its near where I feel the market will go and reverse thats how I come up with them.
OF COURSE its part gut feel or art. I never claimed it wasn't! I'm also using another analysis method I came up with and I'm not revealing. It lets me know the likelyhood of a small retracement in the direction of the previous trend or not. Thus I pick closer levels that most typical fib traders or support/resistance traders probably wouldn't. That's one of my secrets but there's no denying HOW DAMN GOOD my levels are. I challenge anybody to beat me at coming up with likely reversal areas the next day. I'm probably the best on these boards and one of the FEW who posts them the day before so nobody can claim I just made them up or my trades the next day!
On top of all I said above I also use real time trend tools to let me know if the areas of support/resistance I plan to buy at are likely to hold or not. FX Power index and multimap are my two favorites.
And on top of that I ALSO draw trendlines on the downtrend and buy ONLY when price hits my support and holds support and STARTS GOING UP.
So you see Fibs are no more than 5 to 10% of my entire system. I never once claimed they were my system only a part of it.
That being said I do scalp from them intraday and the fib targets are incredible counter trend areas to buy/sell at and I do 100% believe in them as stand alone tools as well but the system I'm showing on here, trading at my levels Fibs are a very small part.
I'll ask the people reading this. Do you want to know how I trade and for me to continue posting here? I really could care less if I quit posting after today and never come back. I'm not selling anything, don't want to trade others money nor do teaching and really am NOT GETTING MUCH back from these boards and sorry guys I'm not a masochist and way too happy of a person to want this kind of BS in my life.
You go girl.I think fibs work because of traders scaling in and out of trades, limit / stop orders being hit, and stops based on formulas being hit. Think about it - - a trend starts, most stops based on a formula are initiated, and then the price levels out far enough away from entry to trigger a portion of the formulated stops. Price fluctates as traders get in and out of the market at the new price, then depending upon which way the price goes from there, new stops are triggered and / or new limit / stop orders are initiated. The underlying result is probably a fibonacci-like pattern.
There are papers out there that say the market noise is not gaussian, not x number of deviations away from price, and not truly random-walk, so at least those suggestions can soundly be eliminated. There are also papers out there that show random entries into the market could even be profitable, so what is more important? The trade exit.
My point is, if the entry is not as critical as most believe, and once you are in a trade, using any kind of stop system dependent upon a formula have the side effect of producting areas of support and resistance due to levels, then who cares what you call the system, what the underlying reason for making projections is / are, and just make an exceptionally good stop.
Everyone quit bashing the lady for her fib levels, she has found something that works for her. She has to invest even more time and effort in rebuttals, which is unproductive for those of us attempting to derive her valued output. She is leading so get the hell out of the way.
There are papers out there that say the market noise is not gaussian, not x number of deviations away from price, and not truly random-walk, so at least those suggestions can soundly be eliminated. There are also papers out there that show random entries into the market could even be profitable, so what is more important? The trade exit.
My point is, if the entry is not as critical as most believe, and once you are in a trade, using any kind of stop system dependent upon a formula have the side effect of producting areas of support and resistance due to levels, then who cares what you call the system, what the underlying reason for making projections is / are, and just make an exceptionally good stop.
Everyone quit bashing the lady for her fib levels, she has found something that works for her. She has to invest even more time and effort in rebuttals, which is unproductive for those of us attempting to derive her valued output. She is leading so get the hell out of the way.
I've been following this thread very very loosely. I haven't even checked to see if Amy's levels work or don't work yet. But I do agree with her entry method of buying the break, I use something simliar. My only concern with Amy in the beginning was that she had a motive for pushing this Heat Map/Wave stuff. I'm still not 100% sure yet.
But for the other people just bashing her method for the sake of bashing doesn't make sense. I find it best to ask questions to find out more about what a persons thought process is then just to attack them.
She does post them the night before so there is no highsight crap she is pulling. I would like to find out more about this other secret analysis that she mention and hasn't not share yet. Amy is it possible to at least give us the theory behind it?
But for the other people just bashing her method for the sake of bashing doesn't make sense. I find it best to ask questions to find out more about what a persons thought process is then just to attack them.
She does post them the night before so there is no highsight crap she is pulling. I would like to find out more about this other secret analysis that she mention and hasn't not share yet. Amy is it possible to at least give us the theory behind it?