so...the concensus is that fib is not worth a sh*t? (who would have thunk it) ok...if we cant go anywhere with this. toc...lets talk girls, sex and booze. but.......uhh.... I dont care if Fibonacci was a cross dressing gay alcoholic space jocky... how come the market price turns at these "esoteric" (translation: random), denominated 1.61 to the umteenth hundred power, flim flam, voodo,rabbit counting numbers i use to cross and divide my cell phone bill to get lines of support and resistance for trading with uncanny regularity?? Coincidence? (charlie-did you type those numbers one at a time from memory? Im impressed) oh yea...physics is voodo?? glad i took chemistry
Prove it! Backtest it! BTW. Glad I took Analysis, Topology and Stochastic Processes (especially Stochastic Processes - it was an attempt to eliminate any "foolishness by randomness" - but I digress) PS. Would you like any Black Swans with your Fibs?
I have a strategy using fibs that works on multiple time frames and multiple instruments. The sharpe ratio is over 3 on the portfolio. I haven't traded it with real money yet as I am still putting the finishing touches on it. It looks pretty good though.
no u missed it...i dont have to prove it or test it. look at any any chart in any time frame. lets just take 50%, which some arguably would say is a fib number, and if youre a purist, justify s/r by price. you do it and let me know what u think. what the heck is a black swan?
Wow...let me know how it comes out. Im kinda pick and shovel and admire the development. Tweak it to 5 and you will be SuperDuper Pro Trader1. Intraday its 3? not .3 right?
The great thing about trading is that there are so many ways to make or lose money. I love it that you guys can't make fibs work for you. Its great. Wonderful. Fantastic. LMAO. On a more serious note: thats why edge's keep working - if everyone believed it, it would degrade into nothing.
well said kiwi but im beginning to believe that alot more people are on to it....else why would there be such consistent reactions? (but i really dont care)
I luuurve it dudes. If you can make it work for you, or you think it works for you, then thats sensational. We need more of you in the markets. (Why am I suddenly reminded of something Taleb said) :eek: Keep on rubbin' the rabbit feet for luck. PS. Monte Carlo Poetry in Motion PPS. Jumpin' jack et al, if this all working so well for you, why the need to discuss it in a public forum?