Wups, sorry, went back to first page and saw a some serious posting, didn't mean to be so flippant. Just seeing the fibo's being applied to 1pt es moves is what made me grin (whatever works tho, profitseer, can't argue with hard profits!)
Comments: What he uses is true. Gann does mention Mechanical Trading Methods that uses trend indicator. Gann doesn't call it swing charts, he calls them 1 and 3 day trend indicator. What Krausz is doing is taking the 1+3 indicator and putting other indicators to filter out bad signals. If you test only the 1+3 day indicator, without money management, it's usually close to breakeven, after testing mulitple symbols(some are profitable, some are not). So what he did was take that breakeven signals along with the name Gann and put filters in them to make them profitable. It's a Gann based system. It's not really a secret or revealed. He should have said, "Using Gann's 1+3 day trend indicator as a base, I've put filters in them to make them profitable. I also use Fibonnacci ratios with price to reduce the risk and give a good marketing to these Gann and Fib enthuthiast." Will it work, I think so. I'll rather look at the filtering part. But using moving averages with the trend indicator also turns the system into a positive expectancy. With money management and position sizing, it will be a profitable system. Another thing I would like to add is. There's two parts to Gann. There's the analysis part which is the angles, % resistance level, time period, and astrology. The other part is the trading part which is the chart pattern(double and triple top/bottom, etc.), breakout, mechanical trading method, and some trend following trading (When makes a higher high, buy it and trade the trend). The trading aspect and analysis aspects are 2 different entities. Now, how it worked was, Gann does the analysis part and tells them whether the particular symbol's trend is up or down with his newsletter. He tells the clients to confirm that on their own with the trading rules or mechanical trading method to decide whether to trade. In another words, you have to be a newsletter subscriber to win using these trading technique. Marketing? Yes.
yeah illiquid, it works very well on 1 minute charts. It's all relative. 1.75 is a bread and butter move when you are using 2 tick stops. The whole fibbonacci scene played out between 884 and 881, so with that narrow range, a scalper can afford to wait for a move past 0% and trade it aggressivly as a breakout. But it's got to be a fibbonacci day. A day where the markets act like they have reason. Every move is tested and established. Textbook trading in textbook markets makes textbook profits.
here's the fib set up I'm working with today 0%=834.5 This is my key number. Made money on the long side up there and it is very easy trading. Would like to get long there again if possible this afternoon 61.8%=829.5 If it acts like support the set up is on 100%=824.25 This is a number on everybodys chart so it's no secret, if it blows thru here the whole stinkin trade is off Problem=No sign at 38 and 23% that the mkt cared about my fib numbers Bias=I'm a bull today, looking for a strong close disclaimer=I'm a scalper
ah, 828.35 is the 61.8% number. I want that to be support, Already well off there, I may have to think fast
Your welcome Chas, She has nice a service, knows her stuff and is glad to help anyone who asks PEACE amd good-trading, Commisso
Nice post Deron. Fib works well in all time frames, including intraday. When you see confluence of Fib levels from different time frames, the accuracy becomes even better. Running Fibs from Globex highs and lows can be enlightening. Finally, a Fib retracement at a well-watched moving average is usually a turning point. Brice
well, so far trade is setting up my 38.2% number is 830.8 Now I want it to act like support Have a 834.5 stop limit ready to go