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


Are Fibonacci retracements and projections useful?
Started: by Big Mike Views / Replies:25,275 / 430
Last Reply: Attachments:76

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
 76  
 
Thread Tools Search this Thread
 

Are Fibonacci retracements and projections useful?

  #311 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 2,959 since Dec 2012
Thanks: 9,557 given, 5,855 received
Forum Reputation: Legendary

nature

Fibonacci, wave patterns and cycles are all present because humans find writing opinions easier than reading them, and find news stories seductive even when the same one is used to justify price moves in both directions on the same day. On the other hand markets are far easier to read than they are to trade, even when they're beautiful.

I appreciate all in here who have helped me to begin to learn the difference between analysis (of all forms) and trading. Yesterday was a good day, I recognised that I have usually been getting out where the pro's are getting in - suddenly finding 'ease of movement' on the DOM simply because it was a with-trend trade was a refreshing experience. I will spend next year working on capturing @tigertrader's asymmetric return (well maybe a tiny bit of it anyway.)

Cheers

Travel Well
Reply With Quote
The following 8 users say Thank You to ratfink for this post:
 
  #312 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,840 since Jun 2009
Thanks: 473 given, 3,175 received

Here's is your quantifiable evidence, delivered right to my inbox this morning

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

Reply With Quote
 
  #313 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,385 since Jan 2011
Thanks: 983 given, 2,095 received
Forum Reputation: Legendary


Well, despite being scolded by the "opposition" for expecting price to retrace back to my major level, that is, in fact, exactly what it did, after losing steam at the fib right above it:

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

Reply With Quote
The following 5 users say Thank You to srgtroy for this post:
 
  #314 (permalink)
Market Wizard
Murrells Inlet SC
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
Thanks: 9,767 given, 25,171 received
Forum Reputation: Legendary


srgtroy View Post
Well, despite being scolded by the "opposition" for expecting price to retrace back to my major level, that is, in fact, exactly what it did, after losing steam at the fib right above it:

I wondered when you were going to mention that

Reply With Quote
The following 4 users say Thank You to Inletcap for this post:
 
  #315 (permalink)
Webinar Host
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,548 since Sep 2013
Thanks: 9,639 given, 10,671 received
Forum Reputation: Legendary

Futures Edge on FIO

srgtroy View Post
Well, despite being scolded by the "opposition" for expecting price to retrace back to my major level, that is, in fact, exactly what it did, after losing steam at the fib right above it:

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

I don't care for fibs, but I love that you had these numbers and levels before hand and not in hindsight...

Reply With Quote
The following 3 users say Thank You to tturner86 for this post:
 
  #316 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 364 since Apr 2015
Thanks: 797 given, 445 received


shodson View Post

Quoting 
Complimentary scientific software makes cash!

Must be software that tells you what a good trader you are, while you're using it? (Either that, or their spelling leaves something to be desired?)

Reply With Quote
The following 2 users say Thank You to Tymbeline for this post:
 
  #317 (permalink)
Trading Apprentice
Gomel + Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: NQ, CL
 
Posts: 18 since Sep 2015
Thanks: 3 given, 9 received

Bruce Gilmore - Trading to Win

Bruce Gilmore wrote that fibonacci retracements and projections are useful in his book Trading to Win.
Does anyone use his methodology from this book?

Reply With Quote
 
  #318 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 2,959 since Dec 2012
Thanks: 9,557 given, 5,855 received
Forum Reputation: Legendary


tturner86 View Post
I don't care for fibs, but I love that you had these numbers and levels before hand and not in hindsight...

I think some observers figure it must be hindsight if it's beautiful, this is a fallacy.

Fibs for serious users are no more hindsight than any other TA, whether you use wave-based relationships, traditional draws, constructive draws or time-based supports. Some are more accurate/beautiful/relevant than others but we all still get left with the same questions - did we pull the trigger or not? And what are we expecting to happen?

Travel Well
Reply With Quote
The following 4 users say Thank You to ratfink for this post:
 
  #319 (permalink)
Elite Member
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,870 since Jul 2010
Thanks: 6,243 given, 31,015 received


srgtroy View Post
Well, despite being scolded by the "opposition" for expecting price to retrace back to my major level, that is, in fact, exactly what it did, after losing steam at the fib right above it:

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

so, how many did you buy there?

i bought a shitload, and still have 25% of them, and it wasn't because of a fib

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

Reply With Quote
The following user says Thank You to tigertrader for this post:
 
  #320 (permalink)
Elite Member
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,870 since Jul 2010
Thanks: 6,243 given, 31,015 received



srgtroy View Post
Well, despite being scolded by the "opposition" for expecting price to retrace back to my major level, that is, in fact, exactly what it did, after losing steam at the fib right above it:

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

pardon my french,

but

big fucking deal

how bout all the times it doesn't work

ever hear of "survivorship bias"

so, how many did you buy there?

you still got them?

because,

unless you did, and did something with them,

then it's just another post hoc analysis

i bought a shitload there, and still have 25% of them, and it wasn't because of a fib

or because it was the W-PP

because neither of those lines, nor the confluence thereof, had anything to do with it

if you trade off these random lines

you will just spin your wheels and generate commissions

show me all the times fibs work

and i will show you all the times they don't work X 2

better yet, show me a trader who trades off these exclusively, and is consistently profitable

and, even if you can produce 1,

i'll show you thousands more, who make millions more

and never give fibs a second thought

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


Last edited by tigertrader; November 18th, 2015 at 08:50 PM.
Reply With Quote
The following 3 users say Thank You to tigertrader 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)

2016 True Edge Awards: Voting is open until Jan 21!

Now
 

Anthony Drager: Pulling the trigger with confidence

Elite only
 

Leo Murphy: The Art and Science of Technical Analysis

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Autohiding for Fibonacci Retracements With Extentions zentrade ThinkOrSwim Programming 3 May 8th, 2013 08:36 PM
Indicator hunt - Eraseable Fibs, and Projections samadams The Elite Circle 3 August 18th, 2012 01:47 AM
ORP (Opening Range Projections) TAJTrades Traders Hideout 13 May 29th, 2011 04:17 AM
Price and time projections Scalpguy The Elite Circle 4 August 21st, 2010 03:13 PM
Fibonacci Retracements George NinjaTrader Programming 8 March 6th, 2010 06:19 PM


All times are GMT -4. The time now is 07:58 PM.

no new posts
Page generated 2017-01-21 in 0.14 seconds with 20 queries on phoenix via your IP 174.129.120.155