NexusFi: Find Your Edge


Home Menu

 





Are Fibonacci retracements and projections useful?


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one srgtroy with 60 posts (176 thanks)
    2. looks_two tigertrader with 37 posts (152 thanks)
    3. looks_3 tturner86 with 33 posts (69 thanks)
    4. looks_4 bobwest with 27 posts (65 thanks)
      Best Posters
    1. looks_one tigertrader with 4.1 thanks per post
    2. looks_two Big Mike with 4 thanks per post
    3. looks_3 srgtroy with 2.9 thanks per post
    4. looks_4 tturner86 with 2.1 thanks per post
    1. trending_up 199,528 views
    2. thumb_up 1,022 thanks given
    3. group 47 followers
    1. forum 434 posts
    2. attach_file 80 attachments




 
Search this Thread

Are Fibonacci retracements and projections useful?

  #41 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


UmBillyCord View Post
They are not there on purpose. It took my brother 10 years to discover, test and systematize how we use them.

Even if I posted them, you would not really know what you are seeing unless you knew the full context. That trade setup over two days. It wasn't a random event.


I would never post them or how we use them on a public forum. The only people I would show/train are my children and extended family.

Then why post your trade in the first place if you can't discuss how the fibs worked or help you plan your trade?

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #42 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
Posts: 533 since Jun 2012
Thanks Given: 1,588
Thanks Received: 922


UmBillyCord View Post
I guess your reading comprehension is not very good. I planned that trade THE DAY BEFORE, entry and target, using fibs and structure. The larger the time frame, the better they work.

You don't like fibs...fine. But the random line BS is really old. There really is order within the chaos. You just need to know how and where to look.

BTW, I really don't need to quantify or prove squat. Why would I lay out proof to people I am competing against in the market? Does Bill Belichick send his playbook to the competition before a game?

Until Copernicus, the conventional wisdom said that the sun orbited the earth.

The funny thing is, when I look at market profile or Ichimoku they are coming to some of the same conclusions, just a little earlier or later and using different tools.

Thanks for the ad hominem but it was just a simple question. There's no need to get bent out of shape. Let me see if I can phrase this a little differently.

What is it specifically about the Fibonacci number sequence that gives it's users an edge in trading? Why does the price seemingly bounce off those levels? I'm interested in the actual phenomenon taking place. Are they just a self fulfilling prophecy? Is it cosmic magic? The secret number order that controls the universe? You don't have to give up your secret sauce. Just explain why it works. There must be something really special about a number sequence a guy in the 1200's came up with to still have relevance in the electronic markets of today. You must know, otherwise why use them right?

Reply With Quote
  #43 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681



TheShrike View Post
Thanks for the ad hominem but it was just a simple question. There's no need to get bent out of shape. Let me see if I can phrase this a little differently.

What is it specifically about the Fibonacci number sequence that gives it's users an edge in trading? Why does the price seemingly bounce off those levels? I'm interested in the actual phenomenon taking place. Are they just a self fulfilling prophecy? Is it cosmic magic? The secret number order that controls the universe? You don't have to give up your secret sauce. Just explain why it works. There must be something really special about a number sequence a guy in the 1200's came up with to still have relevance in the electronic markets of today. You must know, otherwise why use them right?

For sake of debate, they don't need to know why they work to use them properly if they know how to use them and where they work.


R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Reply With Quote
Thanked by:
  #44 (permalink)
 
UmBillyCord's Avatar
 UmBillyCord 
San Diego, California
 
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: Optimus/Amp - CQG/Rithmic/IQ
Trading: NQ,TF,YM,CL,Options
Posts: 73 since Apr 2014


tturner86 View Post
Then why post your trade in the first place if you can't discuss how the fibs worked or help you plan your trade?

Because I was bored.

Seriously, there is very little curiosity and determination by people to to look at things, think and get their hands dirty really learning. Everyone wants to be spoon fed.

This quote sums it up nicely

"What is wanted is not the will to believe, but the will to find out, which is the exact opposite."
— Bertrand Russell

Reply With Quote
  #45 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536

Everyone stay calm. It is possible to have a civil and useful conversation even when people disagree.

Thank you.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #46 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681


R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Reply With Quote
  #47 (permalink)
 
UmBillyCord's Avatar
 UmBillyCord 
San Diego, California
 
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: Optimus/Amp - CQG/Rithmic/IQ
Trading: NQ,TF,YM,CL,Options
Posts: 73 since Apr 2014


TheShrike View Post
Thanks for the ad hominem but it was just a simple question. There's no need to get bent out of shape. Let me see if I can phrase this a little differently.

What is it specifically about the Fibonacci number sequence that gives it's users an edge in trading? Why does the price seemingly bounce off those levels? I'm interested in the actual phenomenon taking place. Are they just a self fulfilling prophecy? Is it cosmic magic? The secret number order that controls the universe? You don't have to give up your secret sauce. Just explain why it works. There must be something really special about a number sequence a guy in the 1200's came up with to still have relevance in the electronic markets of today. You must know, otherwise why use them right?

I truly have no f*cking idea how or why they work. That really isn't the issue. I just know with a reasonable probability when and where they work.

Reply With Quote
  #48 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


UmBillyCord View Post
Because I was bored.

Seriously, there is very little curiosity and determination by people to to look at things, think and get their hands dirty really learning. Everyone wants to be spoon fed.

This quote sums it up nicely

"What is wanted is not the will to believe, but the will to find out, which is the exact opposite."
— Bertrand Russell


UmBillyCord View Post
I truly have no f*cking idea how or why they work. That really isn't the issue. I just know with a reasonable probability when and where they work.

You don't know how or why it works and you accuse us of not wanting to get our hands dirty and really learning about something.

I would make a comment but at this point it is too easy and it is not worth arguing with someone who doesn't know why or how what they are doing works.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #49 (permalink)
 
HumbleTrader's Avatar
 HumbleTrader 
Vancouver Canada
Legendary , Always learning
 
Experience: Intermediate
Platform: Investor RT
Broker: IB & IQ DTN
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,722 since Nov 2014
Thanks Given: 3,379
Thanks Received: 2,961


Big Mike View Post
Everyone stay calm. It is possible to have a civil and useful conversation even when people disagree.

Thank you.

Mike

It reminds me of discussion about Gold as investment or money. Invariably people get excited or hostile.

I think Fibs are both holy grail and Bull faeces ( just like every other methodology out there). It all depends on how it fits with your market understanding and its role in your position sizing and trade execution.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #50 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536



UmBillyCord View Post
I truly have no f*cking idea how or why they work. That really isn't the issue. I just know with a reasonable probability when and where they work.

Brace yourself, I'm going to ask for proof.

Please share the probability work/research that you've done that prove fibs are useful.

Just to keep things calm let me reiterate -- we are both adults and I am not attacking you. We are two people having a conversation, I hold one opinion, you hold a different one. Insults are for children that can't defend their statements or ideas and have no place here.

I've laid out all my opinions in hundreds (thousands?) of posts already, and at least one thread you've mentioned already. I would appreciate it if you lay out yours instead of just saying you can't share anything, you could anonymize the data and share your research without sacrificing any privacy or holy grail type system.

I'm trying to pinpoint research that shows fibs are useful.

Thank you.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote




Last Updated on March 4, 2017


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts