Are Fibonacci retracements and projections useful? - Traders Hideout | futures io social trading
futures io futures trading


Are Fibonacci retracements and projections useful?
Updated: Views / Replies:29,375 / 434
Created: by Big Mike Attachments:82

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 82  
 
Thread Tools Search this Thread
 

Are Fibonacci retracements and projections useful?

  #151 (permalink)
Market Wizard
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,929 since Jul 2010
Thanks: 6,300 given, 31,495 received
Forum Reputation: Legendary


Fxfutures1976 View Post
haha you obviously don't use them, they work for me, in a trending market with 6E they are bang on the money without a doubt.

the streaks on your underwear will work in a trending market...

Reply With Quote
 
  #152 (permalink)
Hi Mom!
Bridgeport, Ct
 
Futures Experience: Intermediate
Platform: Sierra
Favorite Futures: Gold, Oil
 
TheShrike's Avatar
 
Posts: 349 since Jun 2012
Thanks: 958 given, 455 received

Obviously they don't work, but what interests me more is how/why/when they were adopted by retail traders. I think that might be an interesting backstory.

Reply With Quote
 
  #153 (permalink)
Elite Member
London
 
Futures Experience: Advanced
Platform: cqg integrated,ninjatrade
Favorite Futures: Futures and forex
 
Posts: 30 since Apr 2015
Thanks: 6 given, 28 received



tigertrader View Post
the streaks on your underwear will work in a trending market...

Haha you fucking old nob, you rate yourself as a market wizard but judging by your remarks and the picture I'd say More Gandalf.

Reply With Quote
 
  #154 (permalink)
Webinar Host
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,700 since Sep 2013
Thanks: 9,781 given, 10,906 received
Forum Reputation: Legendary


Reply With Quote
 
  #155 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,898 since Jun 2009
Thanks: 29,116 given, 81,737 received


Fxfutures1976 View Post
Haha you fucking old nob, you rate yourself as a market wizard but judging by your remarks and the picture I'd say More Gandalf.

So you are another fib user that just says "trust me, they work"?

When asked for evidence you get defensive and resort to childish name calling?

How is this at all productive or useful?

BTW, saying they work is not evidence.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #156 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: gold blimp
Favorite Futures: pink clouds
 
Itchymoku's Avatar
 
Posts: 2,870 since Apr 2012
Thanks: 1,663 given, 3,572 received


Reply With Quote
The following 2 users say Thank You to Itchymoku for this post:
 
  #157 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: ES & Equities
 
paps's Avatar
 
Posts: 1,370 since Oct 2011
Thanks: 1,801 given, 1,069 received
Forum Reputation: Legendary

Guys I think what may work is probably not how markets work.

Anyways am not sure on fx. But money rolls into the market by the bigger players and they coordinate amongst all indices. They cannot afford to not coordinate as it will mean positions go against them. I think only thing which was being pointed out by TT is though it may seem lines may confirm it is not the underlying reason.

But again if something suits someone there is no need to change it.....just due to a varying reason.

All views are respected in this community. Also varying opinions it what makes it the greatest market to be in.

Reply With Quote
The following 2 users say Thank You to paps for this post:
 
  #158 (permalink)
Elite Member
London
 
Futures Experience: Advanced
Platform: cqg integrated,ninjatrade
Favorite Futures: Futures and forex
 
Posts: 30 since Apr 2015
Thanks: 6 given, 28 received


Big Mike View Post
So you are another fib user that just says "trust me, they work"?

When asked for evidence you get defensive and resort to childish name calling?

How is this at all productive or useful?

BTW, saying they work is not evidence.

Mike

Mike before you jump on me with the "childish behavior" defending the ''Legendary'' member, please go back a few posts.

I was merely giving my opinion on the thread when Gandalf starts the ''Childish behavior'' by stating about ''naive and streaks in underwear''.

Reply With Quote
The following user says Thank You to Fxfutures1976 for this post:
 
  #159 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,898 since Jun 2009
Thanks: 29,116 given, 81,737 received


Fxfutures1976 View Post
Mike before you jump on me with the "childish behavior" defending the ''Legendary'' member, please go back a few posts.

I was merely giving my opinion on the thread when Gandalf starts the ''Childish behavior'' by stating about ''naive and streaks in underwear''.

How many years have you been a full-time professional trader as the primary source of your income?

I ask because I can't think of a single pro trader that I've interviewed before that would disagree with what @tigertrader said about trending markets.

It seems more likely that you are more of a casual/hobbyist trader, which is fine, but would also explain why you believe fibs are useful.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #160 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,898 since Jun 2009
Thanks: 29,116 given, 81,737 received



Fxfutures1976 View Post
I was merely giving my opinion

Since when is childish name calling considered giving an opinion? Saying that someone is naive is not substantially different to saying someone is experienced.

However, calling someone names is simply childish. Resorting to such immature school yard behavior only demonstrates that you can't support your argument.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

Reply



futures io > > > Are Fibonacci retracements and projections useful?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FIO Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

May

An overview of volumetric analytical tools w/Sergey Sokolov @ PTMC

Elite only

John Hoagland (TBA)

Elite only

FuturesTrader71 Extended Ask Me Anything (AMA)

Elite only

Pete @ Jigsaw Trading (TBA)

Elite only

John @ No BS Day Trading (TBA)

Elite only

An Afternoon with FIO member Softsoap (being rescheduled)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Autohiding for Fibonacci Retracements With Extentions zentrade ThinkOrSwim Programming 3 May 8th, 2013 07:36 PM
Indicator hunt - Eraseable Fibs, and Projections samadams The Elite Circle 3 August 18th, 2012 12:47 AM
ORP (Opening Range Projections) TAJTrades Traders Hideout 13 May 29th, 2011 03:17 AM
Price and time projections Scalpguy The Elite Circle 4 August 21st, 2010 02:13 PM
Fibonacci Retracements George NinjaTrader Programming 8 March 6th, 2010 05:19 PM


All times are GMT -4. The time now is 10:54 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-05-26 in 0.13 seconds with 20 queries on phoenix via your IP 54.81.152.30