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


Are Fibonacci retracements and projections useful?
Updated: Views / Replies:32,025 / 434
Created: by Big Mike Attachments:82

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • 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.

-- Big Mike, Site Administrator

Reply
 82  
 
Thread Tools Search this Thread
 

Are Fibonacci retracements and projections useful?

  #261 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,736 since Sep 2013
Thanks: 9,813 given, 10,993 received


srgtroy View Post
Gotta run, but leaving y'all with this:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



I knew deep down you loved a good tinfoil hat theory...

Reply With Quote
The following 3 users say Thank You to tturner86 for this post:
 
  #262 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,324 since Dec 2012
Thanks: 11,199 given, 7,050 received
Forum Reputation: Legendary


tigertrader View Post
an attempt to provoke thought.

as a leveraged trader, one makes short-term decisions/trades, manages the risk/ keeps draw-downs to manageable levels and occasionally turns short-term winning positions into longer ones. that being said, the market and its past is identical for all observers. yet, the market and the future are understood uniquely by each trader. no matter how crude or refined a method one follows in ascertaining the likelihood of change, it still boils down to surviving against one's own incomplete intellect, a misfired bout of randomness, in controlling the risk, and in executing a set of consistent ideas day in and day out, so that chance can prevail. drilling down further, the end game is still about making the most money with the least cost. so, it's not how often you're right, but how much you're right. if you want to make money and do this for a living, then asymmetric payoffs and maximizing geometric returns should be front and center in your thinking.

there are a number of "leaps" one must make in their progression as a trader, and none is greater than the transition from "hobbyist" to "professional" i define professional trader as a trader who is able to live off of his p&l and continue to scale his account. trading takes on a new meaning and presents a vast new challenge when it becomes your sole source of income. so while discussions like these may be intellectually stimulating, they are of a tertiary concern at best, when it comes to maximizing your chances of becoming a professional trader.

In regard to trading I will happily concede all my points for the ones you make here, I would be unable to make a 'better trade'.

Travel Well
Reply With Quote
The following 2 users say Thank You to ratfink for this post:
 
  #263 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,324 since Dec 2012
Thanks: 11,199 given, 7,050 received
Forum Reputation: Legendary

just for art lovers


Maybe let us leave Leonardo to rest in peace, I think he deserves at least that.

Cheers

Travel Well
Attached Thumbnails
Are Fibonacci retracements and projections useful?-dax-daily-oct-2015-sb.png   Are Fibonacci retracements and projections useful?-dax-monthly-oct-2015-sb.png  
Reply With Quote
The following user says Thank You to ratfink for this post:
 
  #264 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,448 since Jan 2011
Thanks: 1,005 given, 2,205 received


tturner86 View Post


I knew deep down you loved a good tinfoil hat theory...

That's actually what I was thinking about when i used that phrase

Reply With Quote
The following user says Thank You to srgtroy for this post:
 
  #265 (permalink)
Market Wizard
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,948 since Jul 2010
Thanks: 6,314 given, 31,681 received
Forum Reputation: Legendary


ratfink View Post
Maybe let us leave Leonardo to rest in peace, I think he deserves at least that.

Cheers

leo should not take it personally. i got into the same argument with john bollinger, about his eponymouslly named liitle bands.

Reply With Quote
The following user says Thank You to tigertrader for this post:
 
  #266 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,448 since Jan 2011
Thanks: 1,005 given, 2,205 received


tigertrader View Post
leo should not take it personally. i got into the same argument with john bollinger, about his eponymouslly named liitle bands.

Please tell me it ended with him saying -- "Lets take this outside...the second standard deviation band"

Reply With Quote
The following 5 users say Thank You to srgtroy for this post:
 
  #267 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,324 since Dec 2012
Thanks: 11,199 given, 7,050 received
Forum Reputation: Legendary


tigertrader View Post
leo should not take it personally. i got into the same argument with john bollinger, about his eponymouslly named liitle bands.

I still have his signed VHS video. They never did ring bells at tops, even when it was a higher high inside a band after a higher high outside the band. There was always another band. Now I just listen to the music, when it's a good band.

Travel Well
Reply With Quote
The following 4 users say Thank You to ratfink for this post:
 
  #268 (permalink)
Market Wizard
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,690 since Oct 2009
Thanks: 3,039 given, 4,479 received

OK fibonacci aficionados, where will the ES turn and resume its ascension toward a new ATH?

Reply With Quote
 
  #269 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,324 since Dec 2012
Thanks: 11,199 given, 7,050 received
Forum Reputation: Legendary


trendisyourfriend View Post
OK fibonacci aficionados, where will the ES turn and resume its ascension toward a new ATH?

Why should anybody know? Otherwise we'd own all the money in the universe.

I'm at home and not trading today but the Dow has put in a rather sweet 1.618 from ATH that looks like a decent 3-3-5 flat, it might need another poke to confirm but has held a pullback so might not, climbing nicely so far.

Can always be part of anything larger or much darker though, so pick a frame and stay in it.

Cheers

Travel Well
Reply With Quote
The following user says Thank You to ratfink for this post:
 
  #270 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,448 since Jan 2011
Thanks: 1,005 given, 2,205 received



trendisyourfriend View Post
OK fibonacci aficionados, where will the ES turn and resume its ascension toward a new ATH?

To give you a straight answer -- I am currently watching 1993ish on the ES. That is where my next major fib line below is located. I cannot tell you whether price will get there and what it will do if it does -- anymore then a volume profiler can tell you if price will reach a poc and/or go through it, or anymore then a VWAPer can tell you if price will hit a VWAP and what it will do after that. Fibs are just another form of market structure. Nothing more, nothing less.

That said, you may have opened the door for some fib porn this weekend, my friend, and that's on you!

Reply With Quote
The following 7 users say Thank You to srgtroy for this post:

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)

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

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 06:44 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 2017-09-24 in 0.13 seconds with 20 queries on phoenix via your IP 54.81.44.140