"The only way to trade with Fibonaccis" journal

Oh My...

Whenever I see "The only way to trade with Fibonaccis" journal, I think: Don't these people know they're only playin on the derivative of the random entry strategy for mean reversion?

Look at anyone who's traded on Fibonaccis. See they did the best in flat and counter-trending markets? Right. Well there you go. Need I say more?

I always envision people who see fibonaccis also see ghosts. It's a noble theory about human nature and the chaos theory in general, but nobility has no place in the day-to-day markets. Get real you lovers of randomness!

 

There's nothing special about fibs.

 

Whole buncha chop.

5/25:

SPY: -$1,584

Net for this trade:
-----------------------------
-$1,584

 

Gap up!

 

the bucking bronco is whipsawin" all who choose to ride.......

nasty stuff.

cheers,

s

 

5/29:

SPY: -$944

Net for this trade:
-----------------------------
-$944

Order to buy 400 @ $129 is still open.

 

Gap down.

 

5/30:

SPY: -$1,720

Net for this trade:
-----------------------------
-$1,720

Order to buy 400 @ $129 is still open.

 

chop.

Order to buy 400 at $129 is still open.

 

5/31:

SPY: -$1,836

Net for this trade:
-----------------------------
-$1,836

Order to buy 400 @ $129 is still open.