|
PureBytes Links
Trading Reference Links
|
At 10:48 AM 4/8/99 -0700, Steve Karnish wrote:
>Realtraders:
>
>How could anyone benifit from this approach? It missed the retracement top
>in wheat by 13 hundreds of a penny and if you check out corn, it was way
>off (fib retracement = 233.94 and the market on blew right by it to
>234.25). I don't know about you folks, but I hate all this slippage. I'm
>going back to my Larry Williams books.
>
>Steve Karnish
>CCT
>Attachment Converted: "c:\eudora\attach\47wk.gif"
>
Steve,
You'll have to improve your techniques, it looks like
you may not be precise enough... And you don't expect
people to believe that you were able to calculate/predict
these prices **before** the market got there* !!!
Joking aside (I love Fibonacci too), you must be trading with
orders already in the market. I find that these techniques
are so good that you often need to have an order in place or you
miss the opportunity.. I'm speaking of the Stocks world, though
I know Futures traders have the same problem.. When your techniques
are good, it's tougher to get a fill.. When a fill is too easy,
it's often a fill I don't want!
Having a leading indicator (Fibonacci) is a powerful asset, but
the trick is to decide on which Fib retracements to trade,
and which to ignore. I have my methods, but I'd be interested
to hear your perspective on this..
Are you using Fibonacci for profit objectives too?
I recognize your name, forgive me if we discussed this before,
but I think it will be of interest to other list members too.
Best wishes,
-Neal.
-----------------
Neal on the 'net.
Trade well. Train hard.
http://www.halcyon.com/neal/
|