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Earl
could you walk me though your "Double Fade". Just say that you are short and
there is a confluence around the 62% rt at a price of $10. Assume the mkts is
moving down and is at 10.50 and ultimately bottoms at 9.75 before turning up. If
you could tell me how you would trade this under 2 senerios. The first you are
short and are looking to exit, and the second you are flat and looking to enter
long.
<FONT face=Tahoma
size=2>-----Original Message-----From: Earl Adamy
[mailto:eadamy@xxxxxxxxxx]Sent: Thursday, April 11, 2002 1:57
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: Re[4]:
[RT] random price moves in ES?"Given the large number
of traders who use them" is a good part of the keyhere because trade
entries and exits are clustered near fibs. I will addthat I _never_ place
an entry or exit on a fib ... I always fade it becauseI know other traders
fade the fibs and I don't want to be faded ... thismeans that prices will
generally not stop exactly on a fib.Bottom line is that I want to know
what other traders are looking at so Iwould have to plot fibs even if I
did not believe in them. Obviously, I dobelieve in them as I have used
them for over 15 years ... the single toolwhich I have never discarded
through all of my research and trials.Earl----- Original
Message -----From: "ztrader" <ztrader@xxxxxxxxx>To:
<realtraders@xxxxxxxxxxxxxxx>Sent: Wednesday, April 10, 2002 10:31
PMSubject: Re[4]: [RT] random price moves in ES?> I would
think that the mathematical characteristics of Fib> retracements might
be of great interest to traders, given the large> number of traders who
use them. There are many places where the fibs> are derived, with
connections to geometry, etc. This is just one more> part of the
picture, and might be of equal or greater value to traders> than the
simpler characteristics.>> If I'm the only one who can see how
this is of value, though, I'd be> quite happy to drop it - I don't want
to bore the list. Is that what> you are suggesting?To
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