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All,
Bill (wave mechanic) and I had a long discussion
previously about Gann and Fibbonacci. What you are seeing here IMNSHOis
one of the problems with these techniques. There are always lots of nice
squiggles on a price curve to hit a line. And then you attach significance
to it. I've been in newsgroups where entries have been done to
death. Text books on trading also conclude the same. Frm the
newsgroup and text books entries represent probably 20% of the issue,some
would say you can (and some have demonstarted it) make profits from random coin
tossing entries. its the other two factors -money management and market
psychology- that make the money.
Why do I use AB then? Because I follow mass
pshology indicators, trends in the simplest or trade carefully in congestion
(futures not stocks). AB is convemnient to be able to do this. I suspect
Bill is very good with his position sizing and money management and has
therefore enjoyed his success. Excuse ny presumtion here Bill. But
the discussion on this issue is revealling of the difficulty of applicationof
Fib and Gann.
P
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Tomasz Janeczko
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Tuesday, August 14, 2001 5:42
PM
Subject: Re: [amibroker] Cycles
Bill,
You have given the following citation from Windows on
Wallstreet manual:
"A common technique is to display both Fibonacci Arcsand
Fibonacci Fan Lines and to anticipate support/resistance at the points where
the Fibonacci studies cross. Note that the points where the Arcs cross
the price data will vary depending on the scaling of the chart,
because the Arcs are drawn so they are circular relative to the chart paper or
computer screen."
I would like to ask you what is the value of of price/date targets that
MOVE depending on the window size, scaling, zoom factor and so on. How can you
trade on these signals, when once you get the signal on Monday, then you
resized the window a little and get the signal on Friday ???? What is then
"trading-certified" window size and zoom factor? How one can be sure thatthe
resolution he uses is a correct one?
I know that this arcs are looking nice but I am
curious how one could base actual trades them<FONT
face="Arial CE">?
Do you trade on them?
Best
regards,Tomasz
Janeczko------------------------------------------------AmiBroker-
the comprehensive share manager<A
href="">http://www.amibroker.com
Your useof
Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
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