Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Most of the people who think "yes" are very certain. So are most of the people who think "no." I'm not sure I have ever seen all that much to actually decide it one way or another, which doesn't seem to matter much to the believers, pro or con.
I really don't know, but I had to vote "no," because I'm not sure about the quantifiable question.
I think it comes down more to whether a person has been able to make use of them profitably. If so, fine, but that's the important question. As @Inletcap mentioned, you can find them just about anywhere. They are all over the place, but will they help when you are deciding on a trade, or help in the trade you are in right now? Not can you find them in hindsight, when it's easy to "see" how this was related to that, and had this ratio and that one, and so on and on....
So my slightly skeptical "I don't know" comes down to a "no" in practice, although I could entertain other possibilities. I'm not going to trade on them just yet, though.
from all of available ninja tools, fib tool makes the most sense to me (BBand makes the least sense). But diff start/end points draws diff levels so it is all in the eye of the artist.
I would answer greed. Markets are all about people's emotions, expectations, fear and greed. If the 50% or 100%, 127,2% extention is important to a lot of people as a target or entry level (read greed) then it matters.
They're bunk. Trading juju. The dude was trying to figure out a puzzle about how fast rabbits could theoretically multiply. Why they've been adopted as some sort of trading magic is anyone's guess. No one can prove they work.
Here's a 2 part article Adam Grimes wrote testing their efficacy.