toc, I went to that website, It says it is a magical mystical porthole.... well you see I am loooking for a more objective viewpoint/explaination but thanks anyway
i am a believer of the value of fibonacci in technical analysis . i am not going to try to convince or convert anyone . i dont know why it works and im not even midly interested in determining why it works for me . here i s a fibo link . make up your own minds . dont discount it on someone elses opinion . http://www.mcs.surrey.ac.uk/Personal/R.Knott/Fibonacci/fib.html ..................... bris
What are you trying to accomplish? You asked 'what use are fibonacci numbers in the market'....a few folks responded w/ something to the effect they use them as part of their strategy. What else were you expecting? When you ask a question like this, there are only two types of responses...facts or opinions. Nobody has a link that proves fibs can predict futures market behavior, obviously, and nobody has a link that proves they can't. Opinions are left. You obviously started this thread because you're of the opinion they're worthless, and you were looking to make your case w/ somebody...somebody who, as opposed to you, is of the opinion that fib's are useful. So it'll just be two people debating opinions....nobody's mind will be changed. I think only expirience observing fibs for yourself, and seeing if you can use them, will answer this question for a person.
Perseus, If you are so anti Fibs then go on trading without them, I am not here to argue and convert anyone. Cheers!
Lol, so what's your point again? Fib numbers work well for me. That's all I need to know and that's all I care about.
What are you trying to accomplish? some of you need to take a course in reading comprehension, i have stated it at least twice. You asked 'what use are fibonacci numbers in the market'....a few folks responded w/ something to the effect they use them as part of their strategy. What else were you expecting? sigh... ever heard of providing rational well-reasoned arguments or maybe some empirical evidence? what is it with you people, not capable of having an academic discussion beyond 'hey i don't know but it works for me'? look I am not trying to steal your secrets, i don't care about trying to make a system out of this. AS I SAID, Exactly how is fibonacci used in trading, and can you provide evidence or reasons why it works? Why is it so damn hard here, its an honest question. If you don't know anything just say that instead of responding by impuning my motives. Where i am coming from is quite clear- I am skeptical since Fibonacci is not anything really special in nature. Now so what? I am admitting that I have not done an exhaustive investigation when it comes to the markets and am asking the audience here to help out. Why does that prevent you from providing any evidence to the contary or having a discussion? As anyone with a half a brain understands, one can discuss this without diving anything about their complete trading system as trading is more than 50% money management anyway. When you ask a question like this, there are only two types of responses...facts or opinions. Nobody has a link that proves fibs can predict futures market behavior, obviously, and nobody has a link that proves they can't. fallacy of the excluded middle... just what is a fact then? care to give any as it pertains to this discussion? you say it can't be investigated, oh really? If lets say 38% represents a magic number for retracements, are you telling me that nobody has ever made a histogram to investigate this claim? I find that amazing if true. Opinions are left. You obviously started this thread because you're of the opinion they're worthless, and you were looking to make your case w/ somebody...somebody who, as opposed to you, is of the opinion that fib's are useful. no, as i said it is quite possible to investigate this objectively but that seems beyond your understanding. Tell me then, just what is wrong with testing out ones understanding of a subject by asking the experts with an opposing view to elaborate? You seem offended by that- are you a fibonacci system vendor or something? So it'll just be two people debating opinions....nobody's mind will be changed. I think only expirience observing fibs for yourself, and seeing if you can use them, will answer this question for a person. I for one happen to learn from analyzing what people have to say, but much more importantly I wanted to see if anyone has any compelling evidence and/or arguments. From what you seem to be saying evidence doesn't exist, lets hear from someone with a bit more insight eh?
Lol, so what's your point again? Fib numbers work well for me. That's all I need to know and that's all I care about. yup that seems to be the consensus here, many claims it 'works' and that's it without any explaination. Big deal, if that's all you need to know then what's your point by posting?
i am a believer of the value of fibonacci in technical analysis . i am not going to try to convince or convert anyone . i dont know why it works and im not even midly interested in determining why it works for me . here i s a fibo link . make up your own minds . dont discount it on someone elses opinion . http://www.mcs.surrey.ac.uk/Persona...onacci/fib.html bris, I don't take anyone's opinion on face value, especially on an internet forum. There are beliefs, like a belief in santa claus, and there are justified beliefs like the sun will rise in the east in the morning. I am not interesting what someone merely believes, I would like to know the justification behind it. If you are not interested in academic type discussions then fine, just leave the thread. If you do like to discuss a topic for the sake of curiosity, then maybe we can talk. As I have said, I am highly skeptical of any real value in the markets. For instance someone might claim that buying 38% dips is Fibonacci, well no it isn't- it's just buying 38% dips and the connection must be established by much more than simply saying "i have a trading system that makes money off 38% retracements". I looked at you site, did you read mine? for instance the stuff about petals on a flower following a fibonacci sequence is debunked by simple example. There are many flowers that don't follow that so called rule. Now i ask you at this point because I am curious- do you care?
Fibonacci is everywhere! Black Man's Schlong = 1 White Man's Schlong = 0.618 Chinese Man's Schlong = 0.382 Please use 10 (inches) as the multiplier. ozzy
Perseus, I'll take small issue with you regarding number series v ratio. The so called 'Golden Ratio/Rectangle/Measure/etc' isn't a number series, neither is the Fibonacci Price Levels tool a number series calculator. The fibo tool calculates and displays ratios based on the measurement of a Wave (Elliott theory) distance between 2 points. The fibo tool is used to project future Price target levels â Corrections/Retracements, new Highs/Lows. see: http://mathforum.org/dr.math/faq/faq.golden.ratio.html I also use the recursion relationship of the so called Fibonacci and Lucas number series to project Time targets â Bar Counts â the number series. http://www.elitetrader.com/vb/showthread.php?s=&threadid=48378