there is a difference in trading what you think will happen based on what is happening vrs trading what you think will just happen
i am not going to answer any q about this but if you can understand these charts then you can make money every single day this is just one example ---and not the best one for that matter most will see nothing in these charts you would be surprised what the charts say to you once you understand the language they speak forget fibs forget trends they don't matter all that matters is what is happening everyone has been brainwashed and cant see the obvious right in front of their eyes
Of course there is , You trade with trend and you can go counter trend .. You can be profitable with both , as long as you read the chart right and most importantly you are disciplined and do not assume anything. after so many years, this comes as the highest priority in trading to me.. .make a decision, get in , put your stop order and trail the winners... """
Fib is an utter waste of time. Like the kid said in the movie "6th Sense." "I see Dead People. They don't know they are Dead. They see what they want to See..."
last post i will make on this thread it is so stupid and simple that a 2nd grade child could do it but after all the bull shit that everyone has been exposed to and what they "think" they know causes them to be blind indicator this indicator that fibs trend blah blah blah
With fading you mean buying on a pullback or selling into a rally? I think the problem with that is: In a huge move you often won't get in because there is no pullback or rally. On the other hand when the trend breaks you get in for sure only it is at the wrong side.
this in my opinion is a great answer,,, a trader with a plan. But is this trading what is happening or trading what you think will happen?
For those interested in the article, here's the link: http://www.marketwatch.com/story/traders-mark-50-retracement-for-sp-500-2009-10-14