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Fibonacci Indicator? Is it a big Joke?

  • #61
  • Oct 17, 2015 2:06am Oct 17, 2015 2:06am
Ok Sir Do you know FX Viper?
  • #62
  • Oct 17, 2015 2:18am Oct 17, 2015 2:18am
@Hanover Sir are those Sell and Buy arrows in TD Sequential Indicator Correct?
  • #63
  • Oct 17, 2015 5:57am Oct 17, 2015 5:57am
Quoting Robinfxtrade
Ok Sir Do you know FX Viper?
Viper Grid EA here and here.

Quoting Robinfxtrade
@Hanover Sir are those Sell and Buy arrows in TD Sequential Indicator Correct?
More info on TD Sequential attached.

Found all of this very quickly using Google. There are plenty more links available.
Attached File(s)
File Type: ex4 TD_Sequential.ex4   5 KB | 443 downloads
File Type: ex4 TD_Sequential_v2.ex4   6 KB | 513 downloads
File Type: pdf TD_SEQUENTIAL.pdf   246 KB | 809 downloads
File Type: pdf TD_Sequential_Impressive_Signals_From_Demark.pdf   201 KB | 646 downloads
  • #64
  • Oct 17, 2015 7:01am Oct 17, 2015 7:01am
Quoting Mingary
"Fibonacci Indicator? Is it a big Joke?" Indeed it is ... http://www.lhup.edu/~dsimanek/pseudo/fibonacc.htm
Wow nice article.
  • #65
  • Oct 17, 2015 10:31am Oct 17, 2015 10:31am
Quoting Prochartist
Let me tell you in my 5 years I never seen the market respecting any level of Fibo the Forex market is a wild market in most cases don't respect or follow any indicator at all ... in other words Forex is umpredictibale.
What?! Are you blind? Fibs work virtually every time for me..... if you know where you're going. Like everything else, if you just apply it willy-nilly, of course it's not going to work!
  • #66
  • Oct 17, 2015 11:13am Oct 17, 2015 11:13am
Yeah, right........ Fibonacci ratios(golden ratio) is a big joke.........And yet, somehow miraculously thousands of traders make money with this "joke" on a daily basis......(I am one of them) strange. Probably we are just some fibo-jokers living in the fibo wonderland. But to be honest, I like that! Sitting there.... "joking" every day..... and make money in the process. As a trader, what more can you ask for?
  • #67
  • Oct 17, 2015 11:54am Oct 17, 2015 11:54am
Does not matter if Fibs are real or not.Enough participants think it is and it effects price.
This is same argument people have about "is market random or not" personally waste of time.
I average over 20% a month gain.(can back that up with account stats) trading key fib levels+fundies, TDI crosses.
like so notice R100.This just about works on every pair.Not going to teach you how to trade but wasting time about Fibonacci numbers is exactly that.Learn to profit from it!
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #68
  • Oct 17, 2015 11:59am Oct 17, 2015 11:59am
Quoting alphaomega
Yeah, right........ Fibonacci ratios(golden ratio) is a big joke.........And yet, somehow miraculously thousands of traders make money with this "joke" on a daily basis......(I am one of them) strange. Probably we are just some fibo-jokers living in the fibo wonderland. But to be honest, I like that! Sitting there.... "joking" every day..... and make money in the process. As a trader, what more can you ask for?
http://www.forexfactory.com/showthread.php?t=431393
pro trader killing it $$
In trading, you have to be defensive and aggressive at the same time
  • #69
  • Oct 17, 2015 12:14pm Oct 17, 2015 12:14pm
Quoting Mag357
{quote} Wow nice article.
Nice article, totally irrelevant to trading, but yeah, nice article

"The internet's a wonderful place, we can find almost anything to feed our own prejudice"

Now where have I heard that before

oh yeah, that's right
Come with me if you want to live....
  • #70
  • Oct 17, 2015 12:58pm Oct 17, 2015 12:58pm
I dont think....
It is profitable if you use with moving average or pivot point indicator.
  • #71
  • Oct 17, 2015 1:32pm Oct 17, 2015 1:32pm
Quoting Ill-b-back
{quote} Nice article, totally irrelevant to trading, but yeah, nice article "The internet's a wonderful place, we can find almost anything to feed our own prejudice" Now where have I heard that before oh yeah, that's right
On the contrary, it's very relevant to trading.

Fibonacci levels (and any derivation possible) are meaningless and statistically worthless.

In trading the eager wannabe forex millionaire will ever be so excited to use them as a "fixation" similar to this:

http://theinkblot.com/index.htm


What do you see ? (:
  • #72
  • Oct 17, 2015 1:58pm Oct 17, 2015 1:58pm
Quoting Mingary
{quote} On the contrary, it's very relevant to trading. Fibonacci levels (and any derivation possible) are meaningless and statistically worthless. In trading the eager wannabe forex millionaire will ever be so excited to use them as a "fixation" similar to this: http://theinkblot.com/index.htm What do you see ? (:
not " meaningless and statistically worthless" to those who profit from it.If you can't then sure it is.
Heard the same thing about traders frowning on fundamental traders arguing fundamentals have no bearing on price.Well it does and it does heavily.
If one can't see what is profitable then sure lot of things in forex and trading is meaningless.
In trading, you have to be defensive and aggressive at the same time
  • #73
  • Oct 17, 2015 2:03pm Oct 17, 2015 2:03pm
Quoting Davit
{quote} not " meaningless and statistically worthless" to those who profit from it.If you can't then sure it is. Heard the same thing about traders frowning on fundamental traders arguing fundamentals have no bearing on price.Well it does and it does heavily. If one can't see what is profitable then sure lot of things in forex and trading is meaningless.
If some profit by it, they must be doing something that has nothing to do with the "Fibonacci rules" that we all love and appreciate.
Goes like this.
The trader "sees something"
The trader "reacts to what he sees"
==> What is important is the outcome and not what he saw on the chart ...
  • #74
  • Oct 17, 2015 2:24pm Oct 17, 2015 2:24pm
Quoting Mingary
{quote} On the contrary, it's very relevant to trading. Fibonacci levels (and any derivation possible) are meaningless and statistically worthless. In trading the eager wannabe forex millionaire will ever be so excited to use them as a "fixation" similar to this: http://theinkblot.com/index.htm What do you see ? (:

Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.
― Albert Einstein

Or to put it in the context of trading - You will never beat the market using ONLY statistics based on historical data! If this was possible, all mathematicians and statisticians would be billionaires....but we all know this is not the case. Just the opposite. There is another component! In trading the discretionary element is the key. Most people will never master this part because they are too distracted while searching for certainty. You have to look beyond what you know.......and embrace the uncertainty. You have to look into the future and IMAGINE different scenarios of what might happen. Fibonacci projections is a good way to do this because it gives consistent and systematic framework. It also fits very well in context of the markets because it captures the exponential stochastic drifts! It provides the trader with multiple levels projected into the future. So you can use these levels as reference points, targets and measurement.. (you don't necessarily trade exactly at these levels)
  • #75
  • Oct 17, 2015 3:06pm Oct 17, 2015 3:06pm
Hi guys.

Fibs certainly have their place in trading. As a statistical or a mathematical edge? No. As a self-fulfilling prophecy. Simply put, a lot of traders look at fib levels, therefore the price is bound to react at those levels. Same goes for moving averages. How exactly the price is going to react at fib levels is beyond fibs, meaning it is not possible to conclude that from fibs. Markets are actually moved by supply and demand, or to be more precise, by a flow of orders. If there are a lot of orders at certain fib level both in size and numbers, price will visit that level. We can't know exactly how much and how big are orders at certain levels, so when price visits a certain level, it could be a reversal of a trend or a continuation. It is always a stop hunt though, either of buys or of sells. You as a trader looking only at fibs can only hope you are on the right side since fibs don't have mathematical nor statistical edge. I fully agree with alphaomega, discretionary element is the key to success.

Marijan
  • #76
  • Oct 17, 2015 3:17pm Oct 17, 2015 3:17pm
Hello

I often see forex pairs that have strong supports or resistances that are exact Fibonacci levels, and even when I use Fibonacci arcs. This seems to happen very oftenly for me, but maybe this is pure chance... anyway I don't think so.
  • #77
  • Oct 17, 2015 4:04pm Oct 17, 2015 4:04pm
Quoting Mingary
{quote} On the contrary, it's very relevant to trading. Fibonacci levels (and any derivation possible) are meaningless and statistically worthless. In trading the eager wannabe forex millionaire will ever be so excited to use them as a "fixation" similar to this: http://theinkblot.com/index.htm What do you see ? (:
Again, you are showing articles.
Nothing relating directly to trading.
IE: You fail to provide direct evidence that the fib tool as provided in the mt4/5 platform and others is useless in trading.
Come with me if you want to live....
  • #78
  • Oct 17, 2015 4:06pm Oct 17, 2015 4:06pm
Quoting Mingary
{quote} If some profit by it, they must be doing something that has nothing to do with the "Fibonacci rules" that we all love and appreciate. Goes like this. The trader "sees something" The trader "reacts to what he sees" ==> What is important is the outcome and not what he saw on the chart ...
Look at the title of the thread.
Come with me if you want to live....
  • #79
  • Oct 17, 2015 4:37pm Oct 17, 2015 4:37pm
I get the feeling it's the same old story.
Those who learnt about using the fib indicator (with discretion) will see ways in which it can work for them.

Those who did not learn to use it/were discouraged from using it by a mentor etc, will see the ways it doesn't work.

People in both camps will see what they/we want to see,


much like the ink blot...
Come with me if you want to live....
  • #80
  • Oct 17, 2015 4:48pm Oct 17, 2015 4:48pm
Quoting Ill-b-back
I get the feeling it's the same old story. Those who learnt about using the fib indicator (with discretion) will see ways in which it can work for them. Those who did not learn to use it/were discouraged from using it by a mentor etc, will see the ways it doesn't work. People in both camps will see what they/we want to see, much like the ink blot...
That kind of sums it all up.

Give it a month or so and we will have a similar topic again.
It never gets easier, you just get better
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