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Another point of view on this could be that you are comparing apples and
oranges. The use of Fib numbers are many in technical anlysis. So in
essence there are many trading systems that may use Fib numbers. As long
as there are enough systems that are similar then you have a good chance
of being a succesfull trader. Because if you believe by your analysis
that a particular support level is going to hold. It will hold only if
enough investors believe the same thing.
I see no contradiction or delemma. But a matter of how closely you look
at the problem. Another question would be. Is the statement:
"The thought occured to me that when "everyone" starts to use a "system"
--
that system ceases to be effective. At least I believe that is the
general
consensus of opinion."
a true statement. Just because everyone has this opinion does it mean it
is true. Is it just an assumption that someone made at sometime and
everyone just excepts it as true. Weather it is true or false.
Harley
yorker@xxxxxxx wrote:
> Re: Fib. Numbers
>
> The thought occured to me that when "everyone" starts to use a
> "system" --
> that system ceases to be effective. At least I believe that is the
> general
> consensus of opinion.
>
> It also appears to me that the use of these numbers are used by large
> and
> small investors and traders alike which should reder them ineffective.
>
> However, it also appears that these numbers are effective.
>
> So can anyone explain the above dilemma?
>
> Kind regards,
>
> Yorker
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