Fibonacci on FTSE100

[10pips]

How many day traders on here use Fibonacci instrument as their only instrument on Footsie? and make a living out of it?

 

[Technically Fundamental]

All the ones who spend as much time in william hill as they do watching the charts

 

[HaloTrader]

Fibonacci alone on the FTSE100 is fine, aslong as you REALLY understand it and have a sound methodology for entries and exits that you consistantly execute with good money management....

How would you trade it ?

Its like anything in trading, persistance and it'll probably work if it ain't too based on your emotions xxxxxx (KISSES 4 LIFE)

 

[vinicius]

How many day traders on here use Fibonacci instrument as their only instrument on Footsie? and make a living out of it?

Fib is a great tool, no doubt, but alone is not enough to make money.

I look at my trades as a game of probability, something like that:

Support and resistance alone = 50% chances;
S/R + Fibs = 60%;
S/R + Fibs + PA = 70%;
S/R + Fibs + PA + bearish candle = 80% of chances the trade will be profitable.

20% is the other things which we don’t know or we think we know.

 

[new_trader]

Fibonacci alone on the FTSE100 is fine, aslong as you REALLY understand it and have a sound methodology for entries and exits that you consistantly execute with good money management....

How would you trade it ?

Its like anything in trading, persistance and it'll probably work if it ain't too based on your emotions xxxxxx (KISSES 4 LIFE)

You are just guessing without a clue aren't you? People want the indicators to do all the hard work and 'thinking' for them, this is why they come here asking these questions. You tell them [indicators are fine] but they need to have a sound methodology for entries and exits... the very thing people hope indicators will provide! They don't want to face reality, they just want somebody to give them the magic indicator settings that will generate millions for them as they relax on their yacht in the sunny Med sipping Piña colada’s all day....simples...

 

[Chorlton]

Fibonacci alone on the FTSE100 is fine, aslong as you REALLY understand it and have a sound methodology for entries and exits that you consistantly execute with good money management....

Regardless of whether one chooses an actual fib retracement level or just a level made up by yourself as long as you adhere to the part in BOLD then I's sure that one can create a profitable strategy.

The question to ask ones self is which part really contributes to making the money. The Fib part (which isn't that hard to understand) or the part in BOLD.

All IMO