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On Tuesday, April 16, 2002, 10:20:56 AM, bondo92677 wrote:
b> Like I said, you're obviously not a trader.
Oh? You seem so sure of yourself. Do you have anything to back up this
incorrect viewpoint?
b> So if you somehow prove that fibos work 51% of the time it works
b> but if it only works 49% of the time it doesn't?
Absolutely incorrect. Where did you get that idea? :-) It is beginning
to seem as though you don't know how to apply statistical measures, or
how statistics is useful in trading.
b> I've often seen the fibo retraces in a 2nd or B wave retrace act as
b> a spring board for huge moves. More often it doesn't.
Hmmm... that sounds a bit like statistics. :-) Do you have any
quantitative data?
b> And who's says you're going to lose money if it works less than
b> half the time?
Nobody said that, as far as I know. Where did you get that err...
rather strange idea?
b> what are you, an accountant?
Not last time I checked.
b> Anyone who depends solely on fibo analysis would be a moron.
I would think the traders who mentioned they do that would be more
than slightly offended by your statement.
Besides, what does that have to do with simply analyzing fibs?
Analyzing and trading are NOT the same. A quantitative analysis can be
part of a trading system design, but certainly not all of it.
b> You can try to prove the fibo's statistical accuracy all you want
b> and its not going to make any difference.
Only if you have no clue as to how to use the results. If you do know
how, it does make a difference, and sometimes a large difference.
b> And as I already mentioned, I can come up with an infinite number
b> of fibo applications,
Hmmm... that's a rather large number. :-)
b> so there's no point in analyzing whether it works or doesn't work.
For you, maybe. For someone who knows how to use the results, it may
be *very* worthwhile.
ztrader
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