Now let's forget the moon and come back to Fibonacci. Fibonacci was studying the reproduction of rabbits and he made the hypothesis that each generation was producing 1 couple and only one couple at each generation. In that case the ratio of two consecutive terms will be the solution of the equation x = x^2 +1 which would give 1.618. But nature is not so simplist and if he had supposed 3 couples distributed on 3 generations the new magic number would be the solution of the equation x^3 = x^2 + x + 1 and would give a ratio of 1.839. So the golden mean has no acquired universality at least on macroscopic scale where the initial conditions can be broadly numerous and that what makes richness of life possible ! It could be that on atomic scale golden ratio play a role as other universal constants but on macroscopic scale it has to be demonstrated case by case !
I looked at retracements informally: best thing I could say about them is it is good to know an issue might have some volatility but the amount of retracement is not very material. Max
Didn't Fib study the way plants add branches too? And other things? I'm not the expert here, I don't even do my homework in an area I don't care about much, but I can't believe he made it into the history books by extrapolating some kind of universal law from the way rabbits reproduce. Max
Fibonacci was a mathematician not a biologist he took the rabbits as an illustration so he has no reason to be interested by plants. But of course plants have been studied by others later. As I said, for having studying heavily botanics - so that I got even disgusted - plants for sure follow fibonacci law for their leaves form a spiral in golden ratio proportion. But some plants don't and follow Lucas Law rather. This has to do with their gene coding which is a very precise mechanism. As for stock market there is no such known gene ... as far as I know .
All right if you believe that the Egypt Pyramid is source of the Great Knowledge then why not believe in this huh (although I don't understand much about their esoteric numerology ): Great Pyramid - Total Picture http://www.benabraham.com/index.html
Why do I read these threads.....I wish I knew what was being said. I am fascinated with statistics and trading...but I would never be able to have the knowledge Harry has in my remaining years that I have left on this earth. I listened to a Jake Bernstein workshop.......and got real interested. But when I read this thread and the other Harrytrader postings...I realize how little I know. If I need to have this knowledge then I must quit trading. If not let me stumble along searching for my winning patterns and track my MAE anf MFE. Please do not take away my Winrate, Avg. W/L Ratio and P/L RATIO'S. I just enjoy reading my spreadsheets and reading these results. harrytrader.....you always ave interesting postings...even though I have no idea what they say. I find them challenging and if I get glimpses of your discussions and actually understand a part of what your saying I celebrate. Your kinda like a benchmark for me to see how far along I am...really! I hope you do not take offense to my comments as they are not meant to be offensive....just respectful, ok? Michael B.
Gee I have no knowledge at all since I do try to understand where do all these esoteric stuffs come from. We are in 21th Century and people trade with the moon and "natural law" without even questioning about the rationality of these stuffs just astonish me . As for trading well I don't use knowledge I use a model, based on a RATIONAL BASIS, that is to say ECONOMICAL PRINCIPLE for the foundation; example given in another thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=17138&perpage=6&pagenumber=7
Well Harry, that was a very nice compliment to you by Electric Savant. And, to mention another subject, well worthy of a seperate thread, has anybody read a book titled 'The Holographic Universe' by Michael Talbot ? In it an idea, originating from a physicist called Bohm, is discussed providing a very logically sounding theory of how the Universe works. I got onto this book because of another book recommended by Ed Seykote (The Holotropic Mind by a Professor Grof). I am still in the process of reading these two books and trying to digest the ideas discussed in them. These couple of books provide absolutely fascinating subjects and are well worth getting (in fact a 'must' for anyone with half a brain). If I had to choose I would start off with 'The Holographic Universe'. freealways
Hold on on this thread I haven't finished it yet, I have the other one the pyramid and I will come back . I will even build a bridge between the two
"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." This is not fibonacci.. this is Elliot Wave... and its up 5.. down 3