Recent content by waverider

Fibonacci works but only in the sense of being a self-fulfilling prophecy, similar to round numbers and 'big' numbers (10000 Dow etc). The more people look for a turn at a given level the more likely it is to happen there. There's nothing magical in it, but anything that skews the odds such...

Hi Richard I've followed this thread with interest - thanks for all your time and input You say this method can be utilized without L2 but I'm finding it hard to see how you select your entries without reference to your L2 data (which I don't have). Looking at your STI chart you entered just...

Hi all, just wondering if anyone's still using this system, and how it has performed in the recent high volatility of the last year or so.

Excellent article, especially for beginners - clear and concise. Thanks.

A successful day trader I knew used 20, 12, 9. Nice smooth result, but I haven't managed to repeat his success. He used to target divergences which would give him c30 point moves.

Thanks JT

I installed SP2 and ran for months with no problem. For reasons that don't matter here I tried uninstalling using the Add or Remove Software facility in Control Panel, and that's when my problems began. Here's where Microsoft (who've been very helpful) subsequently directed me for information on...

I'm always interested to hear people decry indicators as 'lagging'. Surely watching current price action is only of use in its relation to previous price action? A single candlestick is of no (or at least very little) use by itself....it has to have the context a few prior candlesticks, and is...

Hi Buk. Would you please just clarify for me '2bs'?.....are they double top/bottoms?

Ditto ...but I still slouch too much.

Just want to say guys I find your posts extremely helpful and enlightening (and so do many others, looking at the 'views' for this thread), please keep them coming for as long as you can. Regards WR

Mine's obvious really, the aim being to catch them and ride them to profit.....but some days it's much more aspiration than reality! I also liked the link with surfing, although I've only once managed to stand up on a board. It only lasted a few seconds but I still remember the...

Having been trading for only three years I have not experienced trading conditions in the run-up to, during and after a US election. Can some of the traders who go back further provide some input as to how the markets behave? For example, do the tend to start to range as it approaches and...

Thanks for the posts Carlos, and Mr M, I'm gradually picking up on your approach. Having tried day-trading on patterns, s/r and fibs previously I found it was such a fine line between winning and losing overall (i.e. just a couple of extra losers make the difference due to costs & spreads etc)...

"A mirror ! Karen" Nice to have the feminine touch. (if you're lucky!)