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I have found it useful for looking at points for reversals and support,
but not for a system to trade from. It is good to look at because
you know that everyone else in the world is looking at. I feel a
system should have three parts: A timing tool, a momentum indicator, and
a price projection tool that gives entry, exit and stop pricing. Of course
every system should have money management. I noted on this discussion
group some people discussing a trading system based on the Fib principle.
Good luck in your search. When you finally find the holly grail,
let me know. Ira.
<P>Linda Swope wrote:
<BLOCKQUOTE TYPE=CITE> <FONT COLOR="#000000">Hello all,</FONT> I
would appreciate any feedback on my learning <FONT COLOR="#000000">Fibonacci
</FONT>ratios and basing a discretionary trading system on it. Every
TA book I own has a paragraph or a page, but no in depth discussion.
Can anyone recommend a book on fib? Is anyone out there using it primarily
for position trading? For day trading? All comments and input
appreciated!!Linda<FONT COLOR="#000000">Linda Swope</FONT>
<BR><FONT COLOR="#000000">Swope's Mountain Photography</FONT><FONT COLOR="#000000">**Climb
the mountains & get their good tidings; Peace will flow into you as
sunshine into flower; the winds will blow their freshness into
you & storms their energy, & cares will drop off like autumn leaves.
John Muir**</FONT></BLOCKQUOTE>
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</x-html>From ???@??? Mon Nov 09 20:56:21 1998
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Date: Mon, 09 Nov 1998 20:31:35 -0800
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From: Neal Hughes <neal@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: learning fib
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<x-rich>At 08:11 PM 11/9/98 -0800, you wrote:
>>>>
<excerpt>I have found it useful for looking at points for reversals and
support, but not for a system to trade from. It is good to look at
because you know that everyone else in the world is looking at. I feel a
system should have three parts: A timing tool, a momentum indicator, and
a price projection tool that gives entry, exit and stop pricing. Of
course every system should have money management. I noted on this
discussion group some people discussing a trading system based on the Fib
principle. Good luck in your search. When you finally find the holly
grail, let me know. Ira.
Linda Swope wrote:
<excerpt> Hello all, I would appreciate any feedback on my learning
Fibonacci ratios and basing a discretionary trading system on it. Every
TA book I own has a paragraph or a page, but no in depth discussion. Can
anyone recommend a book on fib? Is anyone out there using it primarily
for position trading? For day trading? All comments and input
appreciated!!LindaLinda Swope
Swope's Mountain Photography**Climb the mountains & get their good
tidings; Peace will flow into you as sunshine into flower; the winds
will blow their freshness into you & storms their energy, & cares will
drop off like autumn leaves. John Muir**
</excerpt>
</excerpt><<<<<<<<
I use a trading Fibonacci **Methodology** successfully. As far as I know,
there is
no magical consistently profitable system (mechanical) of any type in the
world..
If there is a holy grail, it is more likely to be a methodology than a
system
(ie subjective, not mechanical), just a personal opinion of course
(eagerly waiting for anyone to prove otherwise). A methodology would need
to
incorporate the strengths/weaknesses of your own personality, to
succeed.
This ought to generate a lot of hate-mail in the next few days!!!
-Neal.
-----------------
Neal on the 'net.
Trade well. Train hard.
http://www.halcyon.com/neal/
</x-rich>
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