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Hi Clyde,
This is absolutely not the way to trade Fibs.
I would say your studies are good (without looking at it too
carefully).
Yes, I'd expect this type of study to show that you should not
trade
that way.
However, I trade with Fibs, they are an invaluable tool in my
trading.
What you are doing and what I am doing are very different.
-Neal.
At 10:00 PM 4/11/2002 -0500, you wrote:
There has
been much discussion about the merits and demerits of
Fib ratios in anticipating where next
pivot/turningpoint will occur.
Attached is a .gif taken from a
plot made in an Excel spreadsheet
from the data attached in the .csv
file.
This covers all swings that were detected by a
13bar detection scheme
from 1930 until the present time.
If anyone on any one of these lists that this
is sent to can see any
"CLUSTERING" around fib numbers then
you have a lot better
eyes than I have. That is possible since
I've been around for almost
71 years now.
I am not saying that there are not persons who
imagine that some
relationship between swings exists that is tied
to Fib numbers
can't use such imagination in bettering their
trading but I am saying
that there does not appear to be one iota of
indication that the
concept of Fib ratios applies to market
swings.
Take the data and make a liar out of me ! !
!
Now if someone wants to take a look at the
relationship of Pattern ID
numbers and swing ratios then there might be
some surprises.
Clyde
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- - - - - - -
Clyde Lee
Chairman/CEO (Home
of SwingMachine)
SYTECH Corporation
email:
clydelee@xxxxxxxxxxxx
7910 Westglen, Suite 105
Office: (713) 783-9540
Houston, TX
77063
Fax: (713) 783-1092
Details
at:
www.theswingmachine.com
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