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>Date: Wed, 16 May 2001 11:27:50 -0700
>To: "Joe Duffy" <joeduffy@xxxxxxxxx>
>From: Eliot Kaplan <eliot@xxxxxxx>
>Subject: Re: [RT] Re: Fibo Research
>Cc:
>Bcc:
>X-Attachments:
>
>
>RTs,
>
>Don't know why I'm bothering to write this.
>
>I agree with both Joe and Neal. Yes of course Neal works with Joe
>DINapoli, but that doesn't mean the post is insincere, and for me
>doesn't approach spam.
>
>And in as much as I am familiar with the things he wrote about, I
>still found the post well written, and honest.
>
>Mark is entertaining though, and I don't doubt his abilities either.
>And, it seems, he needs not only his well earned trading profits,
>but an emotional outlet like the list. Psychoanalysis is expensive
>these days after all. <G>.
>
>Who am I? No one in particular. And not even particularly successful
>as yet. Still learning from all.
>
>Eliot
>
>>This was an excellent post. As such I better jump in now, before those who
>>can't trade start criticizing those who do trade. Neal, nice job.
>>
>>
>>----- Original Message -----
>>From: Neal Hughes <neal@xxxxxxxxxxxxx>
>>To: <realtraders@xxxxxxxxxxxxxxx>
>>Sent: Wednesday, May 16, 2001 1:41 PM
>>Subject: Re: [RT] Re: Fibo Research
>>
>>
>>>
>>> List members,
>>>
>>> Fibs are a lot of fun, and can be very accurate and consistent. But
>>> not on their own! You can't just blindly trade Fibs, you need to
>>> combine some lagging indicators..
>>>
>>> Fibonacci gives you a look into the future. They tell you where
>>> future support and resistance is, BEFORE price gets there. This
>>> is very powerful. But to the novice, it is very dangerous too. Novices
>>> are usually wishing for a magical indicator that will easily tell them
>>> when to get in and out.. Hehehe..
>>>
>>> As with ANY trading tool, you will find they work sometimes, but
>>> not others. How do you decide when to believe them?
>>>
>>> After years of studying and applying, I can say that this is a
>>> learnable skill and that you can become very good at it. But don't
>>> expect a computer to figure it out and make decisions for you.
>>>
>>> It would take a lot of explaining, but here are some pointers:
>>> 1) Trade only with the trend, OR with a good directional pattern.
>>> (directional patterns can over-rule trend, actually predict a change
>>> of trend before it happens).
>>> 2) Get good at watching the MACD and Stochastic in different
>>> time-frames. This will tell you exactly which fib level is most
>>> likely to turn price.
>>> 3) Give preference to trades which put your entry or stop in
>>> an area of Confluence or Agreement (some people call this
>>> clustering).
>>> 4) Employ entry techniques which reduce the need for you
>>> to guess! Enter when a Fib level is actually supporting
>>> or resisting, not before. This is not essential, but is highly
>>> recommended for those who are learning Fibonacci techniques.
>>>
>>> There are more advanced techniques to make your win-loss ratio
>>> really impressive, but you're not going to learn all of those via email..
>>> The above is a good start. With some study and experience you
>>> can boost your performance with Fibonacci techniques.
>>>
>>> Years ago I did a web-based survey, asking traders why Fibonacci
>>> techniques work.. The results were interesting.. What is important,
>>> is that they work.
>>>
>>> -Neal.
>>>
>>>
>>> At 03:13 PM 5/16/2001 +0000, you wrote:
>>> >To me, there are two practical problems with fib #s on their own: 1)
>>> >lack of consistent precision -- people still put stops just beyond
>>> >them, tempting the boys to run them when they can. So while they are
>>> >sometimes precise enough to be useful, it isn't consistent. Also,
>>> >there are times when log scale works and times when lin does. 2) How
>>> >do you decide which fib # is going to work? Sometimes clusters help,
>> > >but not consistently.
>> > >
>> > >I have come to respect angular geometry techniques like Andrews more
>> > >than fib for turning points. Much more precise. Amazingly, there is
>>> >usually an Andrews reason for those turns just above, just below, or
>>> >nowhere near fib #s. I still look at fibs, but as a secondary
>> > >consideration.
>>> >
>>> >I don't know how this could ever be tested other than manually
>>> >though, not in TS anyway. The code for the best fit for Andrews
>> > >would be pretty darn big.
>>> >
>>> >Chris
>>> >
>>> >
>>> >--- In realtraders@xxxx, "Dan Harels" <harelsdb@xxxx> wrote:
>>> > > This is directed to Research, however, I encourage others with
>>> >insights to
>>> > > reply.
>>> > >
>>> > > In a previous post, Research indicated that he is fond of figuring
>>> >things
>>> > > out and that a good share of his trading profits go towards
>>> >computational
>>> > > power. Mr. Research has established his credibility in my mind and
>>> >I am
>>> > > curious if he has performed any studies related to the statistical
>>> >validity,
>>> > > from a trading point of view, of Fibonacci retracements and
>>> >expansions. Any
>>> > > information he cares to share on this subject will be appreciated.
>>> > >
>>> > > Thanks,
>>> > >
>>> > > Dan
>>> > >
>>> > > _________________________________________________________________
>>> > > Get your FREE download of MSN Explorer at http://explorer.msn.com
>>> >
>>> >
>>> >To unsubscribe from this group, send an email to:
>>> >realtraders-unsubscribe@xxxxxxxxxxxxxxx
>>> >
>>> >
>>> >
>>> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>>>
>>>
>>>
>>>
>>> To unsubscribe from this group, send an email to:
>>> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>>>
>>>
>>>
>>> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>>>
>>>
>>>
>>
>>
>>To unsubscribe from this group, send an email to:
>>realtraders-unsubscribe@xxxxxxxxxxxxxxx
>>
>>
>>
>>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>--
>
>^^^^^^^^^^^^^^^^^^^^^^^^^^^^
>Eliot Kaplan
>20211 Croydon Lane
>Topanga, CA 90290
>Voice: 310.455.3810
>Fax: 310.455.3085
>email; eliot@xxxxxxx
>web: www.isu.com
--
^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Eliot Kaplan
20211 Croydon Lane
Topanga, CA 90290
Voice: 310.455.3810
Fax: 310.455.3085
email; eliot@xxxxxxx
web: www.isu.com
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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