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Zen & the Art of The Small Account


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Zen & the Art of The Small Account

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  #931 (permalink)
 whatnext 
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Why can't there just be some people who get good results from using fibs guys?


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  #932 (permalink)
 redratsal 
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whatnext View Post
Why can't there just be some people who get good results from using fibs guys?

I like them and I am sure Fat Tails does as well, I think it's just a question of feelings and habits.

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  #933 (permalink)
 worldwary 
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whatnext View Post
Why can't there just be some people who get good results from using fibs guys?

Good results are the ultimate measure. I agree, if you're getting good results then no need to change anything. If not, then it might be worthwhile to shake things up and kill some of your old darlings.

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  #934 (permalink)
 bluemele 
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whatnext View Post
Why can't there just be some people who get good results from using fibs guys?

I think you can. Horst was a great example. He continues to kick booty using them!

Just another guideline.... If you have none, then how do you trade? Just by thinking the market is long? Trendlines, etc..?

I think you could pick apart any strategy. You have to choose something or are you just a fundamental trend trader?

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  #935 (permalink)
 whatnext 
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What I was saying is: "Why can't you guys believe there are traders who are successful with fibs?"


WW understood.

 
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  #936 (permalink)
 bluemele 
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whatnext View Post
What I was saying is: "Why can't you guys believe there are traders who are successful with fibs?"


WW understood.

That was my point as well.

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  #937 (permalink)
 mmaker 
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I raised the issue because one day AZ's charts showed him going long in a clear downtrend 3 times. Maybe this was just an anomally.

So the question becomes why did he think price should be going up when it was clearly dropping. What was making him think that?

It looked like he was leaning on the fib for support. I don't know. AZ do you lean on fibs for support?

Secondly in his "new" set of rules a few pages back - he did not mention the word fibs. So I didn't know if they were part of his trading plan/decsion making process or not.

That is why i raised the issue.

As i said i knew it would be controversial. I was only trying to help him and to get him to think if he really uses them and if so how he uses them.

If they help him fine. If they don't fine. It matters not to me. I was just giving my two cents worth - after reading 93 pages i figured i should give him some feedback of what i saw.

I think there are as many ways to trade as there are fingerprints. I have never seen two traders trade the exact same way. If you gave the same system to 10 different people i bet you would end up with 10 different ways to trade.

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  #938 (permalink)
 whatnext 
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Thanks for your time AZ.

That's four wiz.'s on one page that said they use them - so I should be able to screw it up if no one else here is.

Going to sim the futures.io (formerly BMT) bands.

 
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  #939 (permalink)
 Big Mike 
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whatnext View Post
Why can't there just be some people who get good results from using fibs guys?

There surely are.

There are also some people who have good results using astrology in trading. Now I personally think fibs work better simply because more people use them, making it more likely an 'event' will take place at a key level. But the mind is very powerful and complex, you can "use" any number of "tools" and find success or failure with very little correlation with the tool itself.

Just my opinion...

For instance, 50 years ago only daily charts were used, charts were printed by hand, and yet we had people who were successful with both very simple methodologies as well as people who created extraordinarily complex methodologies.

Today it is far easier to move towards the complexity, because of the power of the tools available at our fingertips. But it doesn't mean complexity = profitability, and surely there is something to be said for the sake of simplicity being more rewarding.

Mike

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  #940 (permalink)
 whatnext 
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Not what I ment - I have a way with words huh.

Read just above.


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