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Peter:
Some like Mozart and some don't. There isroom
for all approaches in the trading world, and certainly no right or wrong
way. Successful traders will find the approach that works for them;
one that dovetails with their knowledge, experience, and psychological
makeup. There is no know cause and effect in this business, just
correlations that work or do not work within the individual trader's
environment, reflecting the subjective interaction between the trader and
the trading world.
Bill
----- Original Message -----
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<DIV
>From:
server
not recognized
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Tuesday, August 14, 2001 4:15
AM
Subject: Re: [amibroker] Cycles
All,
Bill (wave mechanic) and I had a long discussion
previously about Gann and Fibbonacci. What you are seeing here IMNSHO is
one of the problems with these techniques. There are always lots ofnice
squiggles on a price curve to hit a line. And then you attach
significance to it. I've been in newsgroups where entries have beendone
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 application of
Fib and Gann.
P
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----- Original Message -----
<DIV
>From:
Tomasz Janeczko
To: <A title=amibroker@xxxxxxxxxxxx
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 Arcs and
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 that
the resolution he uses is a correct one?
I know that this arcs are looking nice but Iam
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
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