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Harley Meyer wrote:
>
> 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:
The only thing that hasn't been brought up is that before there were
fibinaccii trading systems..and technical analysis practiced in a mass
cultural way. I believe that I would be correct in stateing that
historically the "market" held to these relationships. I think that was
the point of Prector's book in validating them was that these
relationships were found at critical juctures of the markets.
Don
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