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Old Mar 6th, 2010, 08:56 PM   #1
1a2b3cppp
 
 
Join Date: Sep 2008
Posts: 2,735
Journal of my method I discuss here:
http://www.elitetrader.com/vb/showth...hreadid=192348

Friday's trades (chart: green arrows = buy, red arrows = sell):
http://www.elitetrader.com/vb/attach...postid=2756583

Friday's PnL (PnL screen):
http://www.elitetrader.com/vb/attach...postid=2756589
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Old Mar 6th, 2010, 09:02 PM   #2
konviction
 
 
Join Date: Dec 2009
Location: alabama
Posts: 1,365
Is this an honest attempt at trading fibs with real money?
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Old Mar 7th, 2010, 12:51 AM   #3
1a2b3cppp
 
 
Join Date: Sep 2008
Posts: 2,735
Quote:
Quote from konviction:

Is this an honest attempt at trading fibs with real money?
I explained all this in the other thread, but yes.
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Old Mar 7th, 2010, 08:12 PM   #4
konviction
 
 
Join Date: Dec 2009
Location: alabama
Posts: 1,365
And you're going to be averaging down at every fib level, like you have been doing in your examples?
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Old Mar 8th, 2010, 02:35 PM   #5
cgeorgan
 
 
Join Date: Apr 2007
Location: Chicago, IL
Posts: 101
I don't know how else to say it but your profit appears to be completely random.

Would you have shown us this if, after buying @ 1133.75 (your initial fill?), ES collapsed 3 points lower? These levels mean nothing.

You can draw a dozen fib lines on a chart and eventually you're going to see prices cross those levels. Does that imply that those prices were "pre-ordained" by your levels?
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Old Mar 8th, 2010, 02:47 PM   #6
1a2b3cppp
 
 
Join Date: Sep 2008
Posts: 2,735
Quote:
Quote from konviction:

And you're going to be averaging down at every fib level, like you have been doing in your examples?
Yes. Well, at 38%, 50% and 62% (or whichever price is closest when there's not an exact match). I average down with this method. I'm sure there will be lots of haters and nay-sayers telling me how bad this is, but with properly defined risk and stop losses there is nothing wrong with averaging down. I know where the hard stop is for every trade before I begin.
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