Trading Methods & Techniques

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All.........I am holding off posting new charts on my site for now........the markets been in this broader range over the last few weeks & does really help to look at the bigger time frames until we have a break out ( up/down ) from the bigger range on 3 indexes & the many stocks ........I am working on new ideas for a video to show some ideas ........but over the next few weeks I have some holiday parties & we have the holidays coming, so I will be busy but still be here & looking to post what I could that would be helpful to those of you that look forward to it..........anyway I appreciate all the emails & messages, I am enjoying communicating with some of you & even spent time on the telephone talking about the markets, we are looking for a great 2002 & we all should learn & grow from our successes & failures of 2001.........I will be working on my site updating the trading methods section & orginizing it better

chris
 
So Chartwiz, what is the trading record of your Fib. retracement method? %wins and losses, %gains and losses. Nice little pictures and concepts mean nothing, it's only results that count.

Personally, I think Fibonacci numbers are just so much mumbo-jumbo. A retracement is right if it looks right and that is not just a function of overly precise numbers.
 
DUFFERDON,

Sorry to disagree with you.

This means, you are either a newbie, or a trader who doesn't have all his FULL trading arsenal !

If you want to know more and definitely change your opinion about Fib Forces, please go to "fibtrader.com " and get acquainted with Joe DiNapoli work, who has probably an Italian origin like his countryman Fibonacci !

If you are interested to know more about Fibonacci, contact me
on private channel, and I will be more than happy to guide your
Fib Forces Interest !!!

Good Trading,
MD - doc


NB :
For folks that are more interested on this topic, please look up
Joe's Book , on his web. You can have the contents, reviews, etc.
The price is a little stiff ( ~$180 ), but in my opinion, is more than worth......
 
>This means, you are either a newbie, or a
>trader who doesn't have all his FULL
>trading arsenal !

There is at least one other option -- he could also simply disagree with you that Fibs are the bullet that you think they are and he might could produce quite a bit of evidence to that end.

Just a thought.

JB
 
Don, retracent levels work, a combo of 38-65% & moving averages & trendlines work best, if you have read any old TA work from the turn of the century you will see that this was talked about in the DOW theory about 100 yrs ago......to me thats testing enough.........do you actually think I sit & count each win & loss & look at each trade I do ? maybe you do but when I am puttng on dozens & dozens of positions on each day, I dont have the time.......I already did my work in the past & liked my results & am very profitable, so because I am profitable I use the methods that work, maybe you think its mumbo jumbo, & thats fine, you dont have to use it & I am not asking you, I said these are concepts for people to use & learn from.........I do in my realtime chatroom provide ideas all day long & I use these concepts for SOME trades & I have other methods for other trades & so on, I use a variety of methods for the different condions in the markets.......
if you want to see what this looks like in realtime real money, here go see this link
http://www.stocktrendwizard.com/nov30calls.htm and
take a look at CIEN & IBM, perfect examples on realtime calls, not pretty pictures or after the fact...........but to make it clear to you, I do not have the time to track % win loss on each trade......try doing 300-500k shares a day on a ton of differnet ideas, impossible.........if your tradnig 500 shares or a few SP contracts or something like that , its easy.........but at some point you want to take your winning ideas & methods & use them on bigger size over many different markets & stocks.............goodluck chris
 
MD-Doc

"Sorry to disagree with you.

This means, you are either a newbie, or a trader who doesn't have all his FULL trading arsenal ! "

No problem with disagreement, but no need to be disagreeable. You're wrong on both counts. I am not a newbie and I have enough of an arsenal, as I am consistenly profitable. I have been to Fibtrader in the past and I have looked at Fibonacci sufficiently that my comment was a conclusion, not an off the cuff remark.

In my opinion, the volume behaviour on a pullback is far more important then focusing on overly precise numbers such as 38.5% and 62.5%. Many pullback do end at the 50% + or - area, but you don't need a Fib grid to judge whether a resumption of the trend may be due.

Chartwiz212

Many people do trade setups on the basis of research, backtesting and statistical analysis. I just wondered if you had done any to back up your recommendation of the setup.

BTW I don't think trading pullbacks is mumbo jumbo, I do it myself all the time, just the fib numbers aspect. Actually, how one manages the trade is far more important than how one enters. If fib numbers work for you and volume works for me, fine. That is not to say that entries are unimportant, just less important.

I stand in awe and admiration of your ability to trade hundreds of thousands of shares per day consistently profitably while simultaneously running a chat room, making precise measurements on pullbacks and trading multiple other setups.

At least my question gave you another chance to plug your chatroom.

BTW, why do you run a chat room if you can trade hundreds of thousands of shares per day profitably? Never understood why so many great traders have this urge to be professional teachers too. Do you post audited account statements at your site to verify your skills to your customers?
 
I agree with you, whatever works right ?.I work with a trading partner & we have assistants to help execute our work.........I do my own typing in my chatroom & enjoy it, you never understood why people have urges to teach other ? neither do i ...but thank God somebody did have that urge years ago to teach me or i would never have been a trader nor would i have had the oppy to help others, you seem upset for some reason or have some friction toward me, why ? I have done nothing to you at all but you have this attitude like its actually helpful to the thread or to others, if you have something to prove, post your trades before the markets open or do something constructive with your time rather than knocking somebody thats going good for the site, don't be petty or hurt others, basically relax ..... lets keep it positive & be happy for others that I am sharing ideas they would not have otherwise learned from anybody, I am sure your not helping & offering how to trade successfully to others so let me do what I like to best......I will make it simple, if this becomes a negative I will stop it completely & not share anything more, I take my own time out & give, do i ask for anything no ? I spend time on the phone with people coaching them for ??? FREE ?? gee what do you do for others ??? ....start doing something positive & stop throwing out negative to others & you will be surprised how much happier you will be, I was invited to share with others by my buddy who is on SI & also told me to come here .....so I did, I enjoy it I talk on the phone with others & spend time emailing back & forth, in regard to my chatroom, Its my way to share my work with others on a realtime basis, & they profit from it, whats wrong with that ? nothing I hope, its a good thing for people NOT a bad like you may think, again relax, go christmas shopping or somethng or whatever , dont need to be scrooge here, teach us all something..........in regard to posting audited statements.....gimme a break, i would never ever post anything like that, thats nonsense......why don't you do it, go get aol & get a homepage & upload your acct statements & impress everybody, I don't need to do that or desire to either, if you feel froggy, jump ....follow ? ........I do however POST my trades the time of the calls WIN LOSE OR DRAW, I use thick stocks so its a level playing field for all to enter & exit........so lets start off fresh & if you have nothing nice to say, please don't, if you have something to contribute thats helpful, please do,,,,,,,this thread is intended to help others learn & so far you have not done that< I have spent my TIME replying to your posts & this is the last one , my time will be spent only giving out ideas & training & showing those that need help how to see charts better& improve their own work........goodluck chris
 
I dont know if fibs work or not but if you take 32.5, 50 and 62.5 and then fudge a little in either direction, which I've seen a lot of people do,you have covered almost every possible retracement point there is.
 
Also.........in regard to fib numbers, maybe you didnt read what I posted............The DOW theory has it all layed out the 1/3- 2/3 rule has been around for almost 100 yrs.....so who are you to say it dont work ? works for me & many many many many others.......stocks have 3 trend, primary, secondary & minor & your secondary & minor waves have 1/3-2/3 retracements..read edwards magee book

http://www.stocktrendwizard.com/id44.htm

This i the DOW thoery.....read it !

Below is the 1/3 - 2/3 rule.....

"The Secondary Trends. These are the important reactions that interrupt the progress of prices in the Primary direction. They are the Intermediate declines or "corrections" which occur during Bull Markets, the Intermediate rallies or "recoveries" which occur in Bear Markets. Normally, they last for from three weeks to as many months, and rarely longer. Normally, they retrace from one-third to two-thirds of the gain (or loss, as the case may be) in prices registered in the preceding swing in the Primary direction"
 
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