Hello ES. Thanks for warm welcome. I'm not familiar with shopster is he a poster here? What does that mean with regards to trading forex? Would you mind explaining it, I don't get it
50/50...or 48/48...or 100/50...lol Here is a link: http://www.elitetrader.com/vb/showthread.php?s=&postid=3550329#post3550329 You see...shopster is the man with the edge.... http://www.elitetrader.com/vb/showthread.php?s=&threadid=223293
He's a fib trader, what's the big secret? Fib can be useful under certain conditions but I wouldn't rely on it as a "trigger" or the entry signal to trade. Fib is little more than a "12 inch ruler".
I like forex especially EUR/USD due to it's great range and followthru. Makes a lot of sense to me that WYSIWY(should)G.
The fib is not the entry...I know it is a lot of reading...but reread...the fib is actually the exit. But hey there is another guy here trading price action that just blows everything away...if I had the time I would trde this stuff...but I do not have the time. ES
hmm, ok. How can fib levels be great on "exits" but not on the reverse "the entry"? I am not trying to put you on the spot here, at every great exit isn't there also a great entry the other way? Why else exit? Otherwise, the exit isn't so great (might be ok or adequate/profitable)