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Dimitris:
QQQ = NDX/40, so there is no
difference.
As to background information about Fibonacci and how
to use it, I suggest looking at Robert Miner's "Dynamic Trader" book, as well as
Fisher's "Fibonacci Applications ... " and Beckman's
"Powertiming". There are others, but those will get you a long way down
the road. The website that Peter posted previously provides a reasonable
overview. If you are mathematically inclined, as I suspect you are, then
there are websites that have quite a bit on the mathematics
regarding Fibonacci and Fibonacci-like series (e.g., Lucas), including<A
href="">http://www.mcs.surrey.ac.uk/Personal/R.Knott/Fibonacci/fib.html and
<A
href="">http://www.mathacademy.com/pr/prime/articles/fibonac/index.asp.
You might also pick up some information from Miner's website <A
href="">www.dynamictraders.com. Ifyou
have specific questions, it would probably be best to contact me
directly, although I caution you that I consider myself to be a student rather
than an expert. In this regard, Karl's credentials in this area are
impressive, so the board has a real expert in its midst.
Bill
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
DIMITRIS
TSOKAKIS
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Monday, July 30, 2001 4:57 AM
Subject: [amibroker] Re: NDX, Fib time
and MACD
Bill,Thank you very much for reply and
suggestions.If you have the time, can you give me a clear and specific
example how to get April´s ^NDX low.Where is the beginning of time,
which price level, why 23% and not 50% or 61.8% etc.Since you deal a
lot with the subject, we could all benefit from your experience and use
Amibroker available tools better.In the case you do not have ^NDX data,
they are available from your Amiquote.Thank you in
advance.Dimitris Tsokakis--- In amibroker@xxxx, "wavemechanic"
<wd78@xxxx> wrote:> Dimitris:> > First, for the
tools that you are using you have to adjust periodicity to the time
frame. With these tools, if you are going to analyze long periods of
time larger periodicity should be used. It makes no sense to use a
tool such as Fibonacci time when it is preset at a maximum number that
cannot reach the end of the move, as well as being relatively insensitive
at the longer times. In addition, as you change periodicity (and
sometimes even markets) you will have to learn what parameters to usefor
the indicators. Unfortunately, I do not seem to be able to adjust
the parameters for two MACD charts independently, so in the attached daily
example I only show one, but you can check the standard 12/26/9 setting
versus the one below. In addition, you will have to learn what
indicators work best, especially for daily and intraday trading, including
a number that are not standard in AB. Also, at least in my
experience, the lower the periodicity the more refined the Fibonacci and
similar studies have to become, extending beyond what is currently
available. For example, using standard Fibonacci time analysis from
3/24/00 to 9/1/00 produces a 1.618 time target of 5/22/01 (on
target). In practice, one runs a number of such segments and looks
for time clusters. Similarly, one can look for price clusters.
One also needs to be able under some conditions to do the analysis with
calendar days, not trading days - particularly for Gann studies, which
have the advantage of being able to project from a single point. In
all cases, one looks for price and time to converge in conjunction with
indicator reinforcement. When that occurs you are probably at a
critical point. This is not a systems approach to trading, but
rather one based on line-type studies that many find work quite
well. > > In your example, there is no attempt to project
price, just time with a relatively crude study (Fibonacci time study)that
is mismatched for the periodicity and time frame chosen. Given time
and price projections, appropriate use of indicators will help pick out
the critical point when more than one is present, which is often the
case. Most find that they have to spend a fair amount of time
studying various aspects of this approach, as it is not a cookbook
approach to trading. So do not be surprised it you do not succeed
the first time, especially if all of the required tools are not
available to you. The current tools, however, are most probablyOK
for the type of mutual fund trading that I think Nate does, and the
previous example is right up those lines. In that example, Nate
would have traded 3-4 times during the year and captured a good part
of the move from 120 to 34. Not bad.> > Bill>
> ----- Original Message ----- > From:
Dimitris Tsokakis > To: amibroker@xxxx >
Sent: Sunday, July 29, 2001 2:35 PM> Subject: [amibroker]
NDX, Fib time and MACD> > > If I begin from
the March 2000 High, I am quite out of April 2001 low.>
(27 days and the worse thing is that the next vertical line will be much
later)> If I begin from minor Sept 2000 high, I buy 5 days
before April 2001 low.> (There is a simple question
here: Why I have to buy? Shall I buy in any > Fib
vertical line?)> As for MACD, what is the
proposal?> Buy at A, sorry, a whipsaw, buy again at B,
sorry, sell at C, sorry, buy> again at D and this will
be your lucky time?> This is not
serious.> In other words, the main problem with MACD is the
well known> whipsaws which may cause a great damage,
especially if you are the type> of day-trader who would
risk to buy the day before.> My question for Fibonacci
sequences is simple :Where is the begining of> "time".
As I read, at a distinct high or law. Is this correct?> Any
answer appreciated.> Best regards>
Dimitris Tsokakis>
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