|
PureBytes Links
Trading Reference Links
|
Hello everyone,
Being a relatively new trader I don't venture forward very often, but
in this case I thought perhaps any new traders would be interested. Gann
is hard to deal with, by anyone as far as I can ascertain.
Fibonacci however makes much more sense in terms of forecasts and
movement. I was lost in a sea of lagging indicators, codes for systems
and information ad infintum. For a new trader
(not a new investor) this can be overwhelming especially in these days
of exponential information growth. Every year there is 5x more
information to assimilate as there was the year before.(And I'm sure I'm
being conservative here).As the information grows so does the
availability of free advice, leading indicator systems, etc.
>From other lists I found people using programs like Advanced Get and
Dynamic Trader
which advocate Elliott and Fibonacci. I had always thought it was shear
voodoo. I saw
demos and slowly the patterns and reactions of the crowds started to
make sense on the charts. For me Elliott and Fibonacci( especially
Fibonacci) made some sense of the movement which went beyond "has it
moved above its 10DMA" or "is its Time Forecast series in line with it's
21 day CCI as well as it's 14 day money flow".
Robert Miner's book "Dynamic Trading" should be a required for anyone
interested in
trading. He relies heavily on Fibonacci and shows the relationships. He
uses Elliott and shows the truths and fallacies of Elliot Waves. The
idea is movement and why, not just indicators and what is happenning
now.. The sense of patterns and movement which I have begun to acquire
from the use of these tools, in combination with several indicators, has
helped me
with a sense of confidence in trading the movment without fear, knowing
always that the market is the maker and I have no control over that.
Just my 2cents,
Paula
|