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Are Fibonacci retracements and projections useful?
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Are Fibonacci retracements and projections useful?

  #151 (permalink)
Market Wizard
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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...

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  #152 (permalink)
Hi Mom!
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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.

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  #153 (permalink)
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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.

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  #154 (permalink)
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  #155 (permalink)
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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.

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  #156 (permalink)
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  #157 (permalink)
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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.

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  #158 (permalink)
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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''.

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  #159 (permalink)
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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

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  #160 (permalink)
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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?
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