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I think it's impossible to program for
all the reasons you stated. In many cases the drawing of a Fib line can be
semi-discretionary (for me at least). Which pivot do you draw it from? I try to
avoid spike bars, others don't. Furthermore, I think there needs to be a solid
context to the drawing of a Fib line. I don't measure every swing and enter on a
Fib retracement - my pockets aren't that deep! The context for me is a non-Fib
based signal, or confluence between a Fib line and some other indicator. At that
stage I'll use Fib to enter on a pullback and place a Fib stop at the same time,
always mindful of the fact that a buy signal might be negated by price hitting a
strong resistance point before I get filled.
My point is that unless you program
something like this, then you have no right to claim that your programmatic
analysis is conclusive proof that Fib doesn't work. It only proves that it's
harder to program than people might think.
As for giving it a try, I'm afraid that
there's too much discretion in what I do, and not enough years left in which to
do it. :)
Andrew
----- Original Message -----
From: <A
title=ztrader@xxxxxxxxx href="mailto:ztrader@xxxxxxxxx";>ztrader
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Monday, April 15, 2002 11:08 AM
Subject: [RT] Programming Fibs
On Sunday, April 14, 2002, 5:45:36 PM, Andrew Nopper
wrote:AN> a theory of mine which states that Fib turning points can
not beAN> programmedWhy is that? Perhaps the trader is unable
(most likely) or unwillingto say what is **really** done. It is often very
difficult todetermine what a trader **really** does - many things are
"obvious","unconscious", "intuitive", etc - and are not included in
thedescription.I believe [there's that word again :-)] (1) that it
is possible toprogram a clear, exact, complete, and accurate description of
atraders action, and (2) the biggest problem is to get an
adequatedescription from the trader.Wanna give it a try?
:-)ztrader
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