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

  #321 (permalink)
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as i said before, fib works after fact.

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  #322 (permalink)
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supermht View Post
as i said before, fib works after fact.

So you never use any form of lines to determine how low or high price is as the context develops?

Remember the adage? The Fool Looks At The Finger That Points To The Sky.


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  #323 (permalink)
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trendisyourfriend View Post
So you never use any form of lines to determine how low or high price is as the context develops?

Remember the adage? The Fool Looks At The Finger That Points To The Sky.


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once again, it's all good, post hoc

how many times did one have to draw, and re-draw above lines before one got them to "work"

and, while in the process, how many times did one, get in, and get stopped out, and got back in, and stopped out, and got in and out with a small profit, and got back in, and got stopped out, and...

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  #324 (permalink)
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tigertrader View Post
once again, it's all good, post hoc

how many times did one have to draw, and re-draw above lines before one got them to "work"

and, while in the process, how many times did one, get in, and get stopped out, and got back in, and stopped out, and got in and out with a small profit, and got back in, and got stopped out, and...

Hello tigertradre. I don't think you can "cure" everyone here, nor that anyone needs it. people do what they do because they don't know any better. there are also no logical arguments you can make against any type of analysis, as long as people view markets as drawings on a chart.

I am not an elite member, so am not familiar with details of what you are proposing as an alternative/better way of looking at markets. But explaining your method and presenting clear arguments is the best you can do.

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  #325 (permalink)
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isla View Post
Hello tigertradre. I don't think you can "cure" everyone here, nor that anyone needs it. people do what they do because they don't know any better. there are also no logical arguments you can make against any type of analysis, as long as people view markets as drawings on a chart.

I am not an elite member, so am not familiar with details of what you are proposing as an alternative/better way of looking at markets. But explaining your method and presenting clear arguments is the best you can do.

indeed.

no number of confirming observations can verify a universal generalization, such as "all swans are white", yet it is logically possible to falsify it by observing a single black swan.

which is exactly why, the burden-of-proof is on the fib advocates and not me

if you were an elite member, and you read my thread, then you would see that i do exactly as you described, on a daily basis.

btw, you have a trading account and trade, but you can't "bone-up" for an elite membership.


Last edited by tigertrader; November 18th, 2015 at 08:34 PM.
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  #326 (permalink)
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tigertrader View Post
indeed.

no number of confirming observations can verify a universal generalization, such as "all swans are white", yet it is logically possible to falsify it by observing a single black swan.

which is exactly why, the burden-of-proof is on the fib advocates and not me

do you imply that all it will take for you to change your mind about usefulness of fibs is one profitable trader?

I use other resources to expand my trading knowledge. years ago membership felt unnecessary and until now I didn't have reasons to get it.

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  #327 (permalink)
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isla View Post
do you imply that all it will take for you to change your mind about usefulness of fibs is one profitable trader?

I use other resources to expand my trading knowledge. years ago membership felt unnecessary and until now I didn't have reasons to get it.

i've yet to be shown one...

btw, my definition of profitable trader is a trader who can support himself and his family while scaling his account simultaneously, and has been successful doing this for at least 10 consecutive years


Last edited by tigertrader; November 18th, 2015 at 09:11 PM.
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  #328 (permalink)
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again, those lines are after fact

that adage is for you


trendisyourfriend View Post
So you never use any form of lines to determine how low or high price is as the context develops?

Remember the adage? The Fool Looks At The Finger That Points To The Sky.


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  #329 (permalink)
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What a fun read, @tigertrader taking on survivorship bias victims.

When people lose in the market, they fulfill their function in the financial ecosystem. I see no problem. Fibs, TLs, Elliott Wave..etc. are all great. Please use them everyone and use often. They are great tools for forecasting the past.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #330 (permalink)
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I posted these levels AT THE BEGINNING OF THE WEEK! BEFORE ANY PRICE ACTION!

https://futures.io/traders-hideout/37501-fibonacci-retracements-projections-useful-29.html#post537485

The idea that this is all post hoc is laughable...

I'm sorry for the opposition that so far price has conformed pretty well to them...

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...but there is no need to throw a tantrum.

Maybe your way is just not the only way...


Last edited by srgtroy; November 18th, 2015 at 10:20 PM.
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