Finally an intelligent post. Well said. Dozens of posts ago when this nonsense first began to rage over nothing. I posted a comment about Fibs presenting great risk reward scenarios to the RIGHT TRADER that believes in them and knows how to use them. Like everything else in trading it is finding an edge (even if that edge is just chart reading) and applying ruthless risk management principles. I believe I even presented a pic from that day and some random market like the grains to prove the point. TraderZones does not use fibs nor does he like them. Therefore the whole thread has to be tied up while he argues endless nonsense that has nothing to do with Amy's success. (and my gut feel is that Amy is not lying or wasting time trying to peddle something ---she is just updating a journal or TRYING TO----Furthermore, my gut feel is that she is a successful trader and yes Risk Management has everything to do with it.)
So you work in financial industry but are you a trader or a broker? because IB is a broker, and I am curious what does insurance companies ask you to trade? ES, ETF, NQ, Forex, Commodities, Credit Swaps, Bonds or anything goes?
My purpose was to share ideas and hopefully learn new ones to improve my trading. It doesn't seem that too much positive sharing occurs on here. I've posted my trades each day the night before. That should be good enough for people, I'm not about to share any sensitive financial data and have never seen anybody else do that here. It doesn't take a rocket scientist to go back and look at the levels I buy/sell at the NEXT day and see that I'm over 70% accurate and with money management and small losses, big wins obviously make money. I'm not selling anything, just hoped to get ideas which so far have not and I don't see much point continuing posting other than to prove what a moron and NON TRADER TraderZones is. I'm pretty sure he won't post HIS analysis tonight. I've posted mine on ANOTHER forum tonight, its going to be a GOOD NIGHT for me, I doubt he'll make a penny though. I'll post that forum's URL tomorrow and compare my time and date stamped analysis with his. That is IF a back room guy at an IB can do even simplistic analysis which I highly doubt. He supposedly knows what DOESN'T work, haha, but I am 99.9999% certain he doesn't know what DOES work. Ok Trader Zones put up or shut up. Post YOUR analysis. I didn't want to put mine on here tonight because I'm sure he'd steal the directional bias and would look good based on MY work. This should be fun, another dumb bully bites the dust!
Seems to me like TraderZones (or whatever he's calling himself this week!) is protesting just a little too loudly, is there a bit of reverse psychology going on here maybe? As far as I know he (nor any of his many aliases) have ever posted a live trade or a statement or a trading blotter, and he refuses to accept amytrade's analysis challenge. There's absolutely nothing to suggest he can actually trade let alone trade profitably, unless of course you take his word for it. amytrade on the other hand has a proven successful system. If any evidence of that were needed it's right here in this thread, trading levels and analysis posted well in advance and easily verified. So there's TZ, vigoursly antagonising amytrade accusing her of talking garbage, being a newbie, a mathematical maladroit, a papertrading pauper, and of using "proven quackery and having little clue what works". It all sounds to me like a desperate attempt by TZ to get amytrader to divulge her strategy in detail. TZ if you really need a succesful trading strategy that badly have you ever considered maybe asking politely instead of going through this charade, your approach obviously isn't working. It might not get you anywhere but at least you'll have the satisfaction of knowing that you didn't make yourself look like a complete twat!
I'm not that experienced with fibs, but thought I would apply them to a 4 hour AUD/NZD. I had also set a couple trendlines, daily and 4 hour, went long this a.m. at 1.2484. I set a TP at approx 38.2%. Fairly tight stop, we'll adjust if it plays well. Daily and 4 hr charts posted below.
Which part of "work on trading floors" did your brain not understand? T R A D I N G .... F L O O R The same brain that uses disproven methods to "make a ton of money????" Or the same brain that counters evidence with a few examples and thinks that is statistically meaningful??? You are without a doubt one of the most clueless newbies to grace this forum. It is like arguing with a sponge
IBs does not mean Interactive Brokers. It means investment banks. Insurance companies: Bonds, currencies and other financials. Bloomberg terminal based.