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Dimitris,
In the context of Fibs, I have seen a friend use them
quite effectively.
He however doesnt use fibs alone by themselves. He
uses a tool from Adavnced Get "The Ellipise".
Unfortunately I dont have AG and the program is
frighteningly expensive, $3k approx if I am not
mistaken.
What he does is he tracks retracements with the
ellipse in place - starting at Low Pivot and and
ending at High Pivot. Then as price makes a low
hitting the ellipse in the region of .500 to .786 ,
he walks into the stock. Admittedly this is risky to
some, akin to trying to catch falling knives as they
say, but he buys "despair" and more often than not he
has a 10% odd gain in a fornight or so.
The code for the ellipse is not available in the
public domain, if it were this would make one hell of
a combination by incorporating it into AB and using
with Fibs.
Maybe some day TJ will have something similar to the
ellipse and we all would have a shot at striking it
rich. :)
Rakesh
--- DIMITRIS TSOKAKIS <TSOKAKIS@xxxxxxxxx> wrote:
> ron,
> thank you for your reply,I hope the readers will
> find useful.
> Any decision from Fib retracements alone may be
> dangerous and cost a
> lot of money.
> Happy coding is not happy trading .
> Dimitris Tsokakis
> --- In amibroker@xxxxxxxxxxxxxxx, "ronbo"
> <ronbo@xxxx> wrote:
> > I'll throw in my 2 pennies too--.
> >
> > As Bill pointed out, These indicators MUST be used
> with other
> indicators.
> > either stochastic macd, VFI--all would be valuable
> here to
> determine if the
> > trend has changed and if we are oversold (imho the
> safest time to
> buy)..
> >
> > As an example-- fast stochastic (8,3,3) and MACD
> (12/26/9)
> triggered a sell
> > on 4/28@xxxxxx the VFI gave a sell on 4/30 at
> 11761. while
> neither of
> > these 2 were in high overbot territory, they were
> high enough to
> indicate a
> > good down move might be in the offing.
> >
> > we just can't use 1 indicator to time the
> market--it needs to be a
> basket of
> > indictors. Which ones work best today will not
> work best
> tomorrow. it
> > depends on if the market is range bound, trending
> one direction or
> the
> > other, etc. DT's new invention in AFL gives us 1
> more tool to try
> and beat
> > the other guy.
> >
> > Thanks again DT,
> > ron
> >
> > -----Original Message-----
> > From: Dimitris Tsokakis [mailto:TSOKAKIS@x...]
> > Sent: Saturday, June 12, 2004 8:58 AM
> > To: amibroker@xxxxxxxxxxxxxxx
> > Subject: [amibroker] Fib solutions vs the tough
> market decisions
> >
> >
> > Many [and potential] foreign traders preferred
> the TokyoSE the
> last
> > months.
> > After a prolonged uptrend, the big boys [not the
> crowd !!]
> decided to
> > apply severe pressure [C]
> > The index was loosing -2% or -3% or -5% without
> any serious
> resistance.
> > ---
> > Outgoing mail is certified Virus Free.
> > Checked by AVG anti-virus system
> (http://www.grisoft.com).
> > Version: 6.0.701 / Virus Database: 458 - Release
> Date: 6/7/2004
>
>
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