the golden gun
RINSE & REPEAT
rod178 said:
well that explains a lot. Maybe if you cared a little more about precision you could graduate from trading $1 pips, lol
Fibonacci's Or At Least How I Use Them...
- Thread starter Tansen
- Start date
well that explains a lot. Maybe if you cared a little more about precision you could graduate from trading $1 pips, lol
the golden gun
RINSE & REPEAT
rod178 said:
I remember sometime ago you requesting to have your account deleted or something?
Why did you stop pursuing that goal?
rod178
Well-Known Member
For those that are interested in some fact based work on Fibs.
http://adamhgrimes.com/blog/fibonacci-fibs/
http://adamhgrimes.com/blog/fibonacci-thinking-deeper/
http://adamhgrimes.com/blog/testing-fibonaccis-12/
http://adamhgrimes.com/blog/fibonacci-conclusions-22/
PS not saying that the fib tool is not useful, especially if modified with 70.5, simply because that ratio seems to work best, via observation - at least for now, for the pairs I trade the most ie especially the Fiber. Note that it is not even a Fib ratio, well, not unless one uses some contorted math and rounding.
Basically, I do not believe in the Tooth Fairy, Santa or Magic Numbers, well, not unless I am provided with some hard evidence. I'm backing the Tooth Fairy as the most probable as I did receive a few coins way back when, although still not totally convinced.
http://adamhgrimes.com/blog/fibonacci-fibs/
http://adamhgrimes.com/blog/fibonacci-thinking-deeper/
http://adamhgrimes.com/blog/testing-fibonaccis-12/
http://adamhgrimes.com/blog/fibonacci-conclusions-22/
PS not saying that the fib tool is not useful, especially if modified with 70.5, simply because that ratio seems to work best, via observation - at least for now, for the pairs I trade the most ie especially the Fiber. Note that it is not even a Fib ratio, well, not unless one uses some contorted math and rounding.
Basically, I do not believe in the Tooth Fairy, Santa or Magic Numbers, well, not unless I am provided with some hard evidence. I'm backing the Tooth Fairy as the most probable as I did receive a few coins way back when, although still not totally convinced.
the golden gun
RINSE & REPEAT
rod178 said:
Today I want to continue from last week’s post on Fibonacci ratios, and wrap up with a few thoughts and conclusions. That post was very heavy on data and charts, but the conclusion is pretty simple: at least in this sample of market data, using this particularly specification for swings, we find no evidence that Fibonacci ratios are significant in the market.
-Adam Grimes
hahaha, I nearly spit my tea out. Thanks for the laugh rod178
rod178
Well-Known Member
Looking at the timestamps it is obvious that you jumped straight to the concluding paragraph of the last article, as I doubt that you are the world speed reading champ. Too bad that your attention span is so limited and your mind closed. Never mind, keep 'Fibbing'!
I feel a little like a Heretic telling the Catholic Church that the Earth is not the centre of the Universe. They eventually came around.
PS I asked my Mum and she finally came clean that she was filling in for the Tooth Fairy. Another illusion destroyed. No Tooth Fairy, No Fibs, No Santa. What's left?
I feel a little like a Heretic telling the Catholic Church that the Earth is not the centre of the Universe. They eventually came around.
PS I asked my Mum and she finally came clean that she was filling in for the Tooth Fairy. Another illusion destroyed. No Tooth Fairy, No Fibs, No Santa. What's left?
rod178
Well-Known Member
the golden gun
RINSE & REPEAT
rod178 said:
I sped read the first article and realized I'd probably get dumber if I read all of them, so I skipped to the conclusion and concluded this guy is a wannabe/failed trader trying to get attention. Drivel, the lot of it
The question the guy in the video raised was "why are your levels better than random levels?" its a fair question, the answer to which is very important, in fact, I think its the single most important question to answer before you can expect to become consistent.
So whats the answer? the answer is (in my humble novice opinion) that if we use random levels we will fail. There is nothing consistent about being random. Consistency requires just that, consistency, which means being consistent in the levels you use and that goes for Fibonacci levels too.
As the video proves, on their own levels mean nothing, but when applied consistently with consistent profit targets they mean everything.
Finding the levels that produce the best results is the name of the game, so what are you waiting for!
The best of luck and happy trading.
F
So whats the answer? the answer is (in my humble novice opinion) that if we use random levels we will fail. There is nothing consistent about being random. Consistency requires just that, consistency, which means being consistent in the levels you use and that goes for Fibonacci levels too.
As the video proves, on their own levels mean nothing, but when applied consistently with consistent profit targets they mean everything.
Finding the levels that produce the best results is the name of the game, so what are you waiting for!
The best of luck and happy trading.
F
rod178
Well-Known Member
rod178
Well-Known Member
the golden gun
RINSE & REPEAT
rod178 said:
is that what I think it is?
)check this out
nice article about Fibonacci !
FIBONACCI FOR FOREX TRADING
http://www.forexmentor.com/forex-trading-articles/fibforforex.html
http://www.forexmentor.com/forex-trading-articles/fib4forex2.html
http://www.forexmentor.com/forex-trading-articles/fib4forex3.html
nice article about Fibonacci !
FIBONACCI FOR FOREX TRADING
http://www.forexmentor.com/forex-trading-articles/fibforforex.html
http://www.forexmentor.com/forex-trading-articles/fib4forex2.html
http://www.forexmentor.com/forex-trading-articles/fib4forex3.html
rod178
Well-Known Member
sakib717 said:
imho this material is at best just a passing curiosity, at worst it is a manifestation of superstition, as such a subset of numerology. Just regard the ratios as rough retracement/extension zones. ie 66.6 just as meaningful as 61.8. Try and identify the best replacements (ie guess) or each pair. Nobody has ever been able to prove that Fibs provide an edge, except to the 'Educationalists' and possibly as a sometimes self fulfilling prophesy ie many (mostly retail) Traders do watch the Fib Levels. Time probably better spent concentrate on the identification of Order Blocks, which are mainly big money CB driven. Fibs may assist in that endeavour, ie help you zero in on meaningful OBs.
If you look hard enough Fibs will work, although not to the extent that they will make a positive contribution to your trading account. Fibs are all part of the 'Indicator' illusion, which help make 95% or Retail Traders losers.
Fibs *can* fall in into the set of "natural" functions: functional ratios that have natural correlations to the physical universe. (Let's not get into a multi-year discussion about the nature of the ancient Greek study of Mathematics. )
However, as a tool, they mean absolutely nothing outside of the useful context for them.
)However, as a tool, they mean absolutely nothing outside of the useful context for them.
rod178
Well-Known Member
sqa said:
If only that were so.
Being a 'quantitative' 'type' I require strong evidence, if not proof. The evidence I have seen does not support the effectiveness of Fibs as a Trading tool.
Pick any retracement ratio between 50 and 90, just as indicative as 61.8, except 'possibly' for a short term self fulfilling prophesy aspect.
I'd actually be very interested if someone could produce some evidence otherwise. Someone surprise me and supply actual hard evidence that Fibs represent the natural order of the Universe, as applicable to Trading.