Lie number one : - "Thirteenth century Italian mathematician Leonardo Fibonacci concluded that a number sequence reflected human nature and that patterns repeated themselves in a certain order. " Leonardo Fibonacci has studied the sequence for RABBITS REPRODUCTION does this has anything to do with HUMAN NATURE ?!!! Other lies coming soon .
The one fibbonacci thing that does work is that stocks go up in 3 steps, and down in 5. No idea where I read that, but there is a certain truth to it. And it does work for drawing human beings and perspectives in Art...... But as far as for stocks, I wonder about it?
I don't think anyone has actually translated Fibonacci into human nature. Fib levels are mathematical points of force that one could look for a SAR. Of course all other trading rules would apply.
I am having sex like a rabbit all the time. If this doesn't prove any relation with rabbits than I know nothing
This is a claim I have copied and paste from an article on CBOT (I lost the url although I must have stored it somewhere in my bookmarks) AND IT IS THE MOST FREQUENT REASON I SAW on MANY ARTICLES justifying Fibonacci on Stock Market. That shows one thing: The authors of these articles don't know the reason of the presence of Fibonacci numbers, they know the readers like mystery nevertheless they know also that the readers don't want to feel like stupid so they give them a "rational" reason even if it is a fake reason. Yes they are golden ratio in stock market, I said it - I can even demonstrate it with my model since my model doesn't presuppose golden ratio so no possible bias - but the reason is absolutly not the silly reason above.
I have completed a new and improved TA indicator called the Fibelli indicator - or FIB for short. Its is a combination of the Fibonacci number theory and the Elliott wave theory - there are so many possible resistance and support points, retracement levels, breakout levels etc. that it is impossible to miss one! In other words, the FIB covers everything. It is the ultimate indicator and I have successfully backtested it to the middle ages when Fibonacci lived. Let me know if you are interested and I will sell it to you. It's cheaper than much of the bull others are selling for more.
I figured that you knew better, but you have Socratic method in your very instructional posts, so I thought I would get that out of the way immediately. Now we can go on and talk about why there is so much spam. Of course, it is easier to spam than to trade.
If you don't like spam filter. And don't begin to spam yourself ... For trading I have given an opinion http://www.elitetrader.com/vb/showthread.php?s=&threadid=12992 I used to do it everyday until 2 years ago but then I get bored after 1 year and a half. In fact I only done it to stick me with discipline of analysis because I hate the analysis phase, I just wanted to pull the trigger. Now it's ok I'm not so lazy at analyzing but still lazy so I won't do it just for helping others. I post about Fibonacci because I am doing a detective-like work about esoterism in stock market. Unlike others I am willing to accept any facts that can be significant statistically but I am not willing to accept others and silly claims like the one above.