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At 09:21 PM 4/14/2002 -0500, you wrote:
Before I
answer Don's questions I want to make it clear that I think it is
time
to end this
discussion.
It is clear that those of you who wish
to believe that FIB lines drawn on
a
chart have more validity to indicate
turning points than do
randomly
drawn lines will continue to believe
such in the face of
overwhelming
scientific evidence to the
contrary.
Hello Clyde,
I have to say you are mistaken...
You seem to say that I do not trade the way I do. That what I do does not
work.
That Fibonacci is no use as a trading tool. But that is not the case.
That is
not quite what you are proving.
What you re really trying to do, is scientifically show that your own
approach
to Fibonacci trading does not work. You are successful at that, and I
highly
discourage anyone from trading the way you are suggesting via your
tests.
Your perception of Fib trading is not the way to use Fibonacci.
What I am saying is that they way I use Fibonacci is an excellent
way
of predicting probable turning points. But you are testing a completely
different
way. Your way is doomed to fail and it is good that you determine this
before
risking any real money.
In summary, Fibs are great for trading. But you need to know what you
are
doing.
Respectfuly,
-Neal.
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