Anyone Use Fibonacci?

If it is so self-fulfilling, who is losing all the money. Everyone in the world and grandma will be buying at those levels. sure winner right? No matter how much you combine MA, fib, moon cycle, rabit expansion, this market always will be made up of people, and people are irrational. It is human nature that we tried to impose order to everything when sometimes there is none to be found. Good luck

Fibs, elliott, Ma's....etc...have been successful for years...like price action it's like rice,... a billion chinese folks can't be wrong...
speaking of an astrology indicator....will that be based on the european or chinese astrology...



p.s. been usin' fibs more this week so far 'bout 120pips to the good....I guess why break it if it's working....

whatever method that makes you feel comfortable, and suitable for your money mangement, you should go with it. When a market dips to your fib level, your guess will be just as right as anyone else' guess. Many of the most succesful traders do not beat the 50 percent success rate. then TA at best is coin toss.

I dont understand why people can't just trade the price. Japanese rice traders did it, pit traders did it. Market is full of partipants with different bank rolls and different objectices from different time horizon. Do you really believe that a magic number will make that much of difference? Or did you get" fooled by randomness" I was all about TA couple of years back, Once i have accpeted that trading is a loser's game. My trading got much better.

I think reading about fibonacci numbers, studying some math theory and background on e, pi and fibs can change ones perspective....anyway, that has nothing much to do with trading. But I find it funny you dismiss all of science in one fell swoop with a single line.

Now, who is losing all the money? How can fib traders make money if

Money management can help even a 50% chance experiment i.e. the coin toss turn profits. I've posted a simple (30 pip stop, 20 pip TP for 50% and reduction of stop by 50% then close after another 20 or whenever you wish ) example that illustrates how you can tilt odds in your favor without even getting more complicated than two TP steps over in another thread
I.e. price needs to move only 20 pips in your favor for a profit, but the trade only fails after 30 pips, that's a 66% chance at any random point of turning profit vs loss, not due to the coin toss but the MM...

Also you yourself mentioned price action. Where does one look for the best price patterns, pins and similiar?
Well, on fibs, support/resistance and big MAs...so they "work", they are existant and if you take about 5 minutes to draw fibos onto any trending move such as seen on E/J or similiar, you would see the 100% move, 50% (sometimes .618 or .786) retrace, new move pattern...or how price pauses/clusters around fibs...

But you are convinced and not out to change your mind. In forum terms, this amounts to being a troll, and what I just did was feed the troll. Sorry :/
I don't want to encourage a unecessary dispute.

I really don't understand why it's so important to people to try and deny or refute systems they don't use....if they work for others, good for them, leave them be? If yours works better, rub your hands in glee and be jolly...

There's no need to fight

Successful trading means mastering the art of probability. Fib #'s and lines, no matter how concrete or useless they may seem, are just another tool to define the probability of price movement. If used with discretion, fibo's can be a great asset to your trading arsenal.

Just my $.38, $.50, & $.62 worth

Science? if it is so scientific, don't you think insitutions whom have access to billions and billions of dollars would have cracked it by then?

Georgoe Soros sits in front of his computer and say" gee, we have just had a 68 percent hit, better buy before all the other traders get in. "

or he could do this" gee, time to reshort since all the Fib guys will buy here. much easier to sell when someone is buying. "

go figure

Moneydude,

What Akuma said and this:

Price is not an " it " as you seem to think. It is the meeting of buyers and sellers. Those are people. People are natural creatures with wants and needs. Yes, they are fooled by randomness, but that is because they expect and look for and make an effort to create order. Randomness and order both exist so their efforts sometimes are successful and sometimes not. People drive prices. They and their decisions are effected by all sorts of things. Good news, bad news, the anticipation of news, anticipation of lines on a chart, what others say/do.... Even the Moon !! .

Yes I have read "Fooled by Randomness" actually have it on loan again from the library right now.

Make room in your philosophy for order. After all isnt total randomness a kind of pattern? So therefore for price to be actually random, it must also sometimes be predictable. Something to think about.

Be open to randomness... be open to structure as well.

Lou

First lets clarify that Fibonacci has nothing to do with Astrology nor Elliott Waves. It is merely the scientific Phenomena of number correlation to 1.618/.618 It is natures contiousness to design by pattern. It works in the two dimensionall market because the charts are merely rythmic design patterns of harmonic motion.

To use the ratios correctly you must first plot them correctly, this takes time and effort but the product is quite respectable. if you are truly intrested to learn proper use of Fibonacci functions I wouls suggest first canvasing the internet for non-market biased market knowledge of the subject and then attempt to learn the market comparable aspects of the subject.
After only a short time of examining this forum I find one very consistant and basic trait of more than 95% of it's members.. Lack of descipline to learn to walk before you run. You will never get consistant tangible data from random soundbites within forum threads, however you will get just enough information to most always sustain personal failure..

The forex market is no different than anything else under the sun in essence. Treat it as a civil one should and learn how a sbject works before you dare ask for the details of how to use it..

I do have some rather detailed pdf's on the subject of Fibonacci for the asking.. [email protected]

John Persons had a great class on fibbonacci during the Forex trading expo

I use Fib Retracements. But hey, I don't make money consistently.

I am trying to build my trading stratagy around Fib retracements and extensions, but never known which retracement to take. Is there anything else out there that may indicate which level will hold?

^Maybe you could try looking for divergences and candlestick patterns for confirmation.

Are you familiar with DiNapoli's work.. Cop Op Xop ?

Lou

Ahem

See attached picture....

But hey, it's prolly only due to us having a full moon here the last few days, coincidence and Soros waking up on the wrong side of the bed

Dont try searching for Cop Ox Cop in google

I personally like fibonacci levels alot - they worked very well for me in trading the bund future, but I have less experience with them in the fx market. Alan Farley wrote a good article on using them:

http://www.traderslog.com/fibonacci-tricks.htm

Ok. I wont. but why would I want to?

Do you mean that you meant to google Cop Op Xop and searched Cop Ox Cop instead?

Now I am intregued.

Doesn't matter which, but if you do add DiNapoli and you will find something on it as I later discovered.

It's just one of those things that amused my small mind at 2am in Sydney, it's really extremely juvenile.

Joltin' Joes Cop Op Xop example.