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:27,602 / 434
Last Reply: 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?

  #331 (permalink)
Live Your Bliss
Cancun, Mexico
 
Futures Experience: Advanced
Platform: NT
Favorite Futures: ES
 
Anagami's Avatar
 
Posts: 699 since Dec 2010
Thanks: 474 given, 1,393 received


srgtroy View Post
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...

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


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

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

Being able to forecast a price level one time using a line is truly an incredible achievement. Congratulations!!!

"...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
Reply With Quote
The following user says Thank You to Anagami for this post:
 
  #332 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,419 since Jan 2011
Thanks: 993 given, 2,139 received


Anagami View Post
Being able to forecast a price level one time using a line is truly an incredible achievement. Congratulations!!!

So you agree it wasn't pos hoc after all? This wasn't just one line. It was market structure...that price actually seems to have followed...perhaps you would do the same for us next week? The unmitigated resistance to the possibility of these working is pretty hilarious...

Reply With Quote
The following 2 users say Thank You to srgtroy for this post:
 
  #333 (permalink)
Elite Member
Memphis TN
 
Futures Experience: None
Platform: MB Trading
Favorite Futures: 9x19
 
Pariah Carey's Avatar
 
Posts: 542 since Jan 2014
Thanks: 140 given, 1,306 received



srgtroy View Post

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

Don't ever apologize Roy. In fact I'd be telling people to shove it. I know nothing of fibs but if they work for you then drive on. Every trader needs to be his or her own guru.

Someday, and that day may never come, I'll call upon you to do a service for me.
Reply With Quote
The following 5 users say Thank You to Pariah Carey for this post:
 
  #334 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,419 since Jan 2011
Thanks: 993 given, 2,139 received


Pariah Carey View Post
Don't ever apologize Roy. In fact I'd be telling people to shove it. I know nothing of fibs but if they work for you then drive on. Every trader needs to be his or her own guru.

Thanks for your support. It is much appreciated. This argument goes further then fibs really. It's about what this site is really about? Is it about keeping an open mind about different ways to trade, or following one method blindly?...

Reply With Quote
The following 6 users say Thank You to srgtroy for this post:
 
  #335 (permalink)
Elite Member
Memphis TN
 
Futures Experience: None
Platform: MB Trading
Favorite Futures: 9x19
 
Pariah Carey's Avatar
 
Posts: 542 since Jan 2014
Thanks: 140 given, 1,306 received

Futures Edge on FIO

What value do you place on the webinars on FIO?

 

srgtroy View Post
Thanks for your support. It is much appreciated. This argument goes further then fibs really. It's about what this site is really about? Is it about keeping an open mind about different ways to trade, or following one method blindly?...

To me the only question that really matters is--does it make you money? If you've proven to yourself that a certain way or method of trading does, then go out and trade it. And if it helps you meet your financial goals, then you're a successful trader. If someone else doesn't like it or understand it, well I already suggested what they can do. They don't walk in your shoes, and they're not trading with your account.

Now if you find yourself constantly losing money and bouncing from one system to another, then yeah you probably need a different approach.

Someday, and that day may never come, I'll call upon you to do a service for me.
Reply With Quote
The following 4 users say Thank You to Pariah Carey for this post:
 
  #336 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,419 since Jan 2011
Thanks: 993 given, 2,139 received


Pariah Carey View Post
To me the only question that really matters is--does it make you money? If you've proven to yourself that a certain way or method of trading does, then go out and trade it. And if it helps you meet your financial goals, then you're a successful trader. If someone else doesn't like it or understand it, well I already suggested what they can do. They don't walk in your shoes, and they're not trading with your account.

Now if you find yourself constantly losing money and bouncing from one system to another, then yeah you probably need a different approach.

Very true! In fact, I think you're statement that "Every trader needs to be their own guru" is a really great one. It's also the strength of FIO. There are so many different ideas presented here, each with their own strengths and weakness, but hopefully, all that ultimately helps you gain your own insight.

Reply With Quote
The following 4 users say Thank You to srgtroy for this post:
 
  #337 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,419 since Jan 2011
Thanks: 993 given, 2,139 received

Anyway, I will finish the week posting these levels and seeing how price works with them, as I initially intended, and then I will go back to using them on my own, because I didn't really plan on going down this road right now anyway...

Reply With Quote
The following 4 users say Thank You to srgtroy for this post:
 
  #338 (permalink)
Elite Member
manchester, england
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: pfg best
Favorite Futures: oil
 
Posts: 289 since Apr 2011
Thanks: 284 given, 392 received


srgtroy View Post
Thanks for your support. It is much appreciated. This argument goes further then fibs really. It's about what this site is really about? Is it about keeping an open mind about different ways to trade, or following one method blindly?...

Hi @srgtroy

Unfortunately too many people on this forum do not have an open mind when it comes to trading. They believe their way is the only way, and woebetide anyone that disagrees.

I know that @tigertrader is a great trader, and he is usually right in his reading of the markets. But he has been trading a very long time, so is very experienced. However, many on here do not have his experience and trade in a way that makes sense to them (for me it is intraday order flow and taking smallish targets several times a day).

There are people that try and copy him, but they are unable to, because they do not have his experience. But they will always argue that other method of trading is wrong (like the Mack type traders who stopped posting on this forum because they felt they were being ridiculed).

There is someone who thinks that all lines on a chart are random, but somehow believes that a certain moving average has magical properties.

Then there are traders that religiously believe in Market (and Volume) profile.

I personally do not see value in a lot of things that other do, but it does not mean I am right and they are wrong.

What I am trying to say is, that there is many ways to trade and what works for me does not work for others. So continue to trade in the way that makes sense, and do not be put off by others.

I am attaching a 2 min to show how using fibs could be useful to a fib trader who also use other trading methodologies when deciding to make a trade.

Before anyone asks, I did take the breakout pull back trade, but it had nothing to do with fibs, and everything on how I view trading.

Regards,

Dudley

Attached Thumbnails
Are Fibonacci retracements and projections useful?-es-12-15-2-min-18_11_2015_fibs.png  
Reply With Quote
The following 6 users say Thank You to mrmuggins for this post:
 
  #339 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
 
srgtroy's Avatar
 
Posts: 1,419 since Jan 2011
Thanks: 993 given, 2,139 received


mrmuggins View Post
Hi @srgtroy

Unfortunately too many people on this forum do not have an open mind when it comes to trading. They believe their way is the only way, and woebetide anyone that disagrees.

I know that @tigertrader is a great trader, and he is usually right in his reading of the markets. But he has been trading a very long time, so is very experienced. However, many on here do not have his experience and trade in a way that makes sense to them (for me it is intraday order flow and taking smallish targets several times a day).

There are people that try and copy him, but they are unable to, because they do not have his experience. But they will always argue that other method of trading is wrong (like the Mack type traders who stopped posting on this forum because they felt they were being ridiculed).

There is someone who thinks that all lines on a chart are random, but somehow believes that a certain moving average has magical properties.

Then there are traders that religiously believe in Market (and Volume) profile.

I personally do not see value in a lot of things that other do, but it does not mean I am right and they are wrong.

What I am trying to say is, that there is many ways to trade and what works for me does not work for others. So continue to trade in the way that makes sense, and do not be put off by others.

I am attaching a 2 min to show how using fibs could be useful to a fib trader who also use other trading methodologies when deciding to make a trade.

Before anyone asks, I did take the breakout pull back trade, but it had nothing to do with fibs, and everything on how I view trading.

Regards,

Dudley

I honestly believe there is a lot to learn from @tigertrader. But I also believe nobody knows everything.

Reply With Quote
The following 5 users say Thank You to srgtroy for this post:
 
  #340 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
TheTradeSlinger's Avatar
 
Posts: 402 since Jun 2015
Thanks: 639 given, 504 received


Best thread of 2015!

Reply With Quote
The following user says Thank You to TheTradeSlinger 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)
 

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

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

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

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 08:47 AM.

no new posts
Page generated 2017-03-27 in 0.14 seconds with 20 queries on phoenix via your IP 54.166.19.237