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Obvious nobody involved in this argument is a trader. Is there
anything in trading that ever works consistently? And when you
mention fibos, you're not only mentioning .618,.382,.236,.146
retracements but reciprocals, and roots and power levels. You can
use fibos for extension targets, alternate wave comparisons, and time
targets. Just like everything else, it works and doesn't work. If
it worked you made money, if it didn't you lost a few tics. Now get
on to your next trade and drop it.
And I'm serious about my question. Show me something that works all
the time and I'll be The Amazing Randi.
--- In realtraders@xxxx, "Earl Adamy" <eadamy@xxxx> wrote:
> If I'm not mistaken, there are two belief sets here:
>
> 1) Fibs have no statistical relevance to system trading.
>
> 2) Fibs are an extremely useful tool in discretionary trading.
>
> While discretionary traders can offer examples, I see no way in
which
> discretionary can offer "proof" due to the complexities of
mechanizing a
> process which is not based on absolute, quantifiable criteria.
>
> Earl
>
> ----- Original Message -----
> From: "Clyde Lee" <clydelee@xxxx>
> To: <realtraders@xxxx>
> Sent: Monday, April 15, 2002 7:15 PM
> Subject: Re: Re[2]: [RT] FIBO DISCUSSIONS GOING OFF-LIST
>
>
> However, I'm open to what others think but seldom do I see that
> there is much analytic support for all the Fib falderal.
>
> Clyde
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