well first of all, it took you an amazingly long time to think of a response to the post, so your mind must be pretty slow... second, if you are trying to make points, it would be more impressive if you didn't drool all over your keyboard when trying to make textbook stupid posts like this one...
Hi everyone! I just became a member on this forum. This thread about Fibonacci is quite intriguing so I decided to respond. I am a new trader. I am still experimenting different trading styles and times frames. While working full-time, I tend to favour swing to position trading. I tend to believe that Fibonacci is a theory on behaviour with a mix of "self-fulling prophecy" and "crowd behaviour", as it is one of the most famous retracement and progression theories. For example, as price goes up to a certain level, some traders will be tempted to sell to take profits (so price retraces). Depending on the degree of retracement and VOLUME (to me volume is more important than Fibo retracements), some traders will jump in to help support the price movement; and hence price continues to advance upward (in the case of longing). Perhaps it is the collective human behaviour (hence statistics) that results this famous retracement theory: retracements at 38.2%, 50% and 61.8% level. If find Fibo works best when it meets strong resistance/support level (and in conjunction with volume). Fibo (and many other theories) does not work well when "crisis" causes the market to shake. Ie. Last Thursday's dramatic swing in the market. So under normal circumstances, traders who use Fibo retracements will focus on buying/selling at the important retracement levels (and hence the price moves cuz of human expectation). Oh well.. what do I know? LOL I am only starting to trade. Happy Trading!
1a2b3cppp thank you for displaying logic. fib levels, eliot wave bullshit, fucking godzilla patterns (yea no shit I saw for the first time today a post about dragon patterns). TA is for people that want poor mans finance, to lazy to learn and put the time in to know and learn what real finance is. yea let me select two random highs and lows and draw some wizard's lines. I should make a killing with these tools.
I wonder how all the other traders on this forum who believe in fibonacci magic are doing? I wonder how the traders who are paying monthly fees to fib gurus are doing? You can see how I'm doing here. I bought 600 shares of SPY yesterday: http://www.elitetrader.com/vb/showthread.php?s=&postid=3186173#post3186173
Billy, ES asked you a question. as you have not reponded , i will......... shop ...................................................... billy knows everything.... struggling???? that's the pot calling the kettle black...... you still churning out $5 bucks a day while hubby is out working hard to pay the bills? ............................................................... billy gives trading advice..... Just think...had you listened to " my advice " a few days ago you'd be thirteen thousand smackaroos richer. Dude, wise up and hang up trading because you're in full blowup mode. Here's a little secret...which has not dawned on you yet.....is that all of your system tinkering and countless hours you're spending away from the family to "improve the system" is only CURVE-FITTING. You see there is no such thing as "improving the system". That's the paradox of the market. ............................................................... billy gives more positive advice..... Dude, quit now while you at least have your sanity. I guarantee you that it will be the best decision you ever made in your life to date. ............................................................... billy dresses down a fellow ET member..... Dude your signature is so fu^^ing unprofessional and juvenile, it wouldn't even cross my mind to even browse your website let alone consider your instructional services. ............................................................. billy thinks traders have to be wiz kids...... because these firms are looking for one thing... wonder kids or math wizards who have the potential for hardcore quantitative analysis, statistical arbitrage, and know how to use majorly complex trading softwares. wrong answer. .............................................................. billy gives personal tax advice...... The IRS will want their cut of last year's profits irregardless of whether Neke blows up or not. Personally, I would take out my taxes owed for last year, today.....just in case. .............................................................. billy does navel gazing...... Its just I love trading so much. I dont do it just for the money. Theres a lot of things one can do to make money. I love the who philosophy of it. Its helped me build a lot of character. I guess I m just a lil sad to think I may need to depart with it. .................................................................. billy flops a fatal flaw..... I don't do it just for the money. wrong answer " everyone gets what they want from the market, some win, some lose........." ed seykota ................................................................... billy admits defeat and quits trading.... Quote from Billybob543: Robert, it's probably time for you to move on to something more positive for you besides trading. You may be letting life pass you by if you continue with this endeavour. It's OK to admit defeat and cut your losses. I quit trading last year and it was the best move I made to date, as a new world of business opportunities opened up before my eyes that I was not able to see. Take the money that you have left and put it into a more achievable and proven enterprise. Edit: Trading is like wasting your life away by playing video games. " I quit trading last year and it was the best move I made to date, as a new world of business opportunities opened up before my eyes ." ................................................................. billy, the " million dollar question is......... why the ^^^^ are you still here .......? you don't have time for this. business opportunities are pouring out of your ass. hit the road. dead man walkin' cheers, s
gtizzle101 curb your gutter mouth or i will curb it for you. i have a degree in business and finance. they forgot to teach "black swan" theory. " Formal education will make you a living; self education will make you a fortune................" ...................................................................... long term capital, the business and finance wizards......blow out. watch it here........ http://www.youtube.com/watch?v=xGfXyVtiB1E s
kub, welcome aboard. you will learn some trading patterns here that have repeated for the 36 years i have traded markets. pls disregard any comments posted by " trash talkin' gutter mouthed " souls searching for some answer to their pathetic lives. there is always " dissention in the retail ranks " from those who have no plan. most of these clowns do not have a thread running, but are most willing to pass judgement on those who do. i will have them removed as i see fit, single celled pond scum has no place here. cheers, shop
lol curb it for me, blow me guy. Yea I have degree in finance and economics funny thing is my school did teach me black swan maybe you should've went to a better school. Please spare me the LTCM like I don't know the story. Keep drawing lines on charts and soon enough you'll join the structurally unemployeed.