|
PureBytes Links
Trading Reference Links
|
Neal,
I ran the AMAT high and low (8/7=37.375 & 9/10=22.438) and got
almost the same retracement numbers. They were off a few places
and I was ready to blame it on this crummy shareware (totally
free (many thanks "fletch"))
at:http://frontpage.dallas.net/~markp/
and then I noticed that your "advanced", expensive software,
only carried the price out to two decimal places. I guess my
question is: does this "advanced" software only handle two
decimals or do you, as a technician, think it's not necessary to
reflect the entire quoted price?
By the way, living in Aspen for years taught me that you can go
to the thrift shop and buy last years "boards" for pennies on
the dollar. What I'm concerned about is: people paying for
black boxes ("special sidecut skiis that turn for you") or
people being led to believe that for 300 smacks the fibonacci
"advanced" stuff is better. It might be better if you like
whistles and bells, but for three hundred bucks I think I'll
just "point 'em" down the hill. I know the height of the summit
and the base elevation of the lodge and the "bumps" are exactly
in the same place for everyone. I guess I'll keep snaggin' the
bargains at the thrift shop because in the end, you still have
to turn 'em.
As my buddy Dino Fibonacci always said: "Ya know Stevie,
Leonardo used to do these calculations in the sand, using a
stick. Da numbers are da numbers are da numbers. So, who do
you like in the fifth?"
Steve Karnish
CCT
----------
> From: Neal Hughes <neal@xxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Do these skis actually make the turns for you?
> Date: Thursday, October 01, 1998 2:09 PM
>
> At 03:41 PM 9/30/98 -0700, you wrote:
> >Neal writes:
> >"Thanks Mike, but that calculator is inadequate for real
> >Fibonacci trading.
> >
> >It will do the basics, just as Metastock will, but does
> >not have the advanced stuff"
> >
> >Steve replies:
> >
> >I sent this email attachment (929wzfib.gif) to 20 people last
> >night. This is the one I'm sending tonight (930wz). Now, I
> >understand that a "free" calculator (the one that I used to
draw
> >these fib retracements) can't be as wonderful as a $295 piece
of
> >software ... so, please tell us about all the "advanced
stuff".
> >Does it do a better job at identifying the retracement
levels?
> >For some of us, who have used fibs for 25 years, the "free"
> >calculator works pretty good and it's a lot better than
pushing
> >a pencil (of course, I also used to ski on wood slabs).
> >
> >Steve Karnish
> >CCT
>
> Hi Steve,
>
> I can't make sense of those charts, they seem to have some
> basic Fibonacci levels on them. The problem is that when you
> combine these levels from multiple time-frames it becomes
> a messy useless chart. It was not obvious to me where
> the levels were measured from, but I did not give it much
> time.
>
> If you've been doing it for 25 years, there is no need to
> swap your old planks for some new carbon/resin skis, just
> do what you do so well! But for someone new to the sport,
> there are ways to shorten the learning curve. If they're
> going to risk pain and injury, it would be foolish to save
> a few dollars by getting your old planks :-)
>
> In the markets (as you know), no skis make the turns for you.
> I don't know of any private traders who have succeeded using
> a mechanical system for 25 years.
>
> There is a web page which describes the advanced stuff:
> http://www.fibtrader.com/
> just click on the "FibNodes Software" link.
>
> Best wishes,
> -Neal.
>
>
> -----------------
> Neal on the 'net.
> Trade well. Train hard.
> http://www.halcyon.com/neal/
|