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Don,
Its obvious to me...and not surprisingly, but you CAN'T change the minds
Of people who don't wish to change i.e. people who aren't open minded.
Many people on here...just like in real life, are merely here to push
their
Views and denigrate others rather than learn. The genuine learners are
only
A tiny% on this list. Most everyone else simply wants the free lunch.
I suggest continuing the Fibo discussion is pointless as it won't
EDUCATE the
people who need educating. We both know as traders and market analysts
at the
Coal face that we see it time and time again. We also know its just one
tool.
We also know it can provide the key to putting on a more successful
trade.
These are all FACTS....by people who TRADE and MAKE MONEY.
I suggest to you and everyone else...ISN'T THAT THE POINT OF BEING ON
THIS LIST ?????
Adrian
> -----Original Message-----
> From: Don Ewers [mailto:dbewers@xxxxxxxxxxxxx]
> Sent: Wednesday, 17 July 2002 12:15 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Re: Fibs
>
>
> I have repeated numerous times, Clyde's analysis proves
> nothing ( flawed) since it does not register pivots that fall
> in the "right" levels to measure the real fib extensions or
> retracements (it measures all pivots, thus the flat line),
> what else would one expect from such an analysis? This was
> challenged a while back and numerous members stand by it move
> on, let it go, . . . . don ewers
>
> ----- Original Message -----
> From: "Kent Rollins" <kentr@xxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, July 16, 2002 8:39 PM
> Subject: [RT] Re:
>
>
> > There is a saying: "The plural of 'anecdotes' is not 'data'." Just
> because
> > you can find a few instances on a chart proves you are handy with
> > charts.
> >
> > Clyde did a data-packed study of retracements and posted
> the results
> > in a very clear and incontrovertible chart which had the length of
> > retracements on 1 axis and the frequency of occurances on
> the other.
> > There was NO blip at the magical Fibonacci numbers. None.
> The data
> > line was perfectly
> smooth
> > from one side of the chart to the other with no clump at any point.
> >
> > Fib retracements are a prism thru which to view the
> strength of market
> > moves. Fib numbers have no statistical basis in fact. You
> could just
> > as easily use sixths, eights, tenths, or any other
> fraction. And for
> > every chart you post should a perfect Fib retracement, I could post
> > one that
> shows
> > a perfect retracement based on PI, e, or any other rational number.
> >
> > Kent
> >
> >
> > ----- Original Message -----
> > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, July 16, 2002 3:35 PM
> >
> >
> > Clyde,
> > It is not a very few examples, as you have "continued to state".
> >
> > Your posisition seems to be, if you can't "program it", it does not
> > exist?
> >
> > I say, every day, in every time frame, I use it constantly, almost
> > more
> than
> > any other tool. What you call " isolated" occurs all the
> time, and it
> > is "not isolated"?
> >
> > Here are a couple of other weekly "fib things" that as you
> would say,
> > do
> not
> > exist that I recently supplied to one who inquired about
> retracements.
> > First two look pretty good to me (blue 50% and the red .618) of the
> > prior moves down so far. Would they show up on what you
> have tried to
> > program?
> >
> > Keep fighting this, but you are losing the battle from what I
> > normally trade, as it would appear may others. don ewers
> >
> > ----- Original Message -----
> > From: "Clyde Lee" <clydelee@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, July 16, 2002 11:22 AM
> > Subject: Re: [RT] Why Fibonacci Numbers work and Number crunching
> > doesn't
> >
> >
> > > What I believe in and what I publish may be two entirely
> different
> > > things. You have never seen a published study by me that
> indicated
> > > that Gann Angle projection of time or price reversal
> points had any
> > > more significance than a random choice of points.
> > >
> > > My publication of Gann Angle points was just an
> observation and not
> > > an analysis.
> > >
> > > Why it is that you insist on selecting A VERY FEW examples of FIB
> > > relationships that seem to work a proof that such is the
> case I do
> > > not understand.
> > >
> > > I understand that many people use FIB relationships in
> discretionary
> > > trading as a guide to where price reversals might occur
> but I have
> > > yet to see anyone publish a trading system based on the
> FIB ratios
> > > that was successful. And, in view of the statistical
> data which has
> > > been accumulated it is highly unlikely that it will.
> > >
> > > My whole purpose of this insistence of looking at the
> statistics of
> > > Fib ratios is to try to prevent some of our newer and less
> > > experienced colleagues from jumping off onto a train that
> is headed
> > > for hell.
> > >
> > > Clyde
> > >
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > > 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
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > >
> > > ----- Original Message -----
> > > From: "Adrian Pitt" <apitt@xxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Tuesday, July 16, 2002 6:48 AM
> > > Subject: [RT] Why Fibonacci Numbers work and Number crunching
> > > doesn't
> > >
> > >
> > > >
> > > > Clyde and all those interested,
> > > >
> > > > Have a look at the enclosed graph. It shows very
> clearly a perfect
> > > > example Of the implementation of Fibonacci ratio's at work, and
> > > > why Clyde's number crunching statistical tour de force shows up
> > > > nothing. This graph is a daily Bar chart of the Dow, looking at
> > > > the major high and the corrective rally we have had this year.
> > > > Notice that the corrective rally finished in a classic Neely
> > > > Triangle, as so many multi-wave corrective structures do. Also
> > > > notice That at that exact moment we completed the 'e'
> wave of the
> > > > triangle was also the EXACT 61.8% retracement of the
> major decline
> > > > so far. Also note, that with almost Any swing
> methodology applied
> > > > to this market would never have caught this. If You go
> to a weekly
> > > > or monthly chart that termination point vanishes and so
> does The
> > > > 61.8% retracement, thereby seemingly proving Clyde's assertion.
> > > > Clyde, You do some great work, but it seems there are 2
> anomalies
> > > > here..the first is You seem to believe in Gann angles but not
> > > > Fibonacci? That's is an unusual Combination to the say
> the least.
> > > > Secondly, don't let yourself fall into the camp University
> > > > academics have for the past decades of trying to prove markets
> > > > were Random and technical analysis had no validity by
> conducting
> > > > spurious
> and
> > > > erroneous Test. Doing a number crunching test...no matter how
> > > > detailed and intensive does NOT Prove something doesn't work
> > > > simply because
> your
> > > > test didn't show it.
> > > > This is why I sent this simple little graph. The combination of
> Elliott
> > > > and Fibo working a treat. These aren't isolated examples, and
> > > > there is no one on the planet who could ever suggest we
> stopped at
> > > > that point because
> "everyone
> > > > looks at charts..so they were watching the 61.8% level".
> > > >
> > > > Adrian Pitt
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
> > > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > > >
> > > >
> > > >
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> > > >
> > >
> > >
> > >
> > >
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> > >
> > >
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> > >
> >
> >
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