Hi I'd like o hook up with others in the Toronto area to help each other with Trading on these platforms. NT8 & IBKR. Solve problems like this: During my order placement, can I use a Fibinocci tool with NT8? Thanks Paul M
The broker doesn't matter, just the platform. You'd have to create a custom NinjaScript indicator that combines a fib cycle with order entry that can hook into the ATM functionality of NT. It is not something you can do automatically, out of the box, which is what you seem to be asking. As someone suggested in the other thread you asked this, your easiest way is to just draw your fib lines, and then set your limit order at the point on the fib line where you wish to take a direction. At that point you would already have your pre-set stops/targets/trails etc in the ATM for when the entry order is executed.
Yes. It requires more labor and monitoring. For initial testing, I'm trying to integrate some automation also.
The only time I come across Fibonacci-line magic, is in newbie books, or fraudulent peddler videos trying to teach others on how to pull down earnings from markets. I am curious, is there even ONE single hedge-fund manager out there who has ever used this stuff in legit work? I am trying to picture Munger & Buffett playing with magic ratio-lines, along with Ray Dalio, Soros, etc. In all the biographies I read, I don't remember a single one of them mentioning a single thing about this in their methods. Is there even a SINGLE profitable hedge fund who admits to using this?? The answer should tell you something.