Fib Levels?

[socrates]

I have been doing some studies and trades on fib levels for the last year and was wondering if anyone else out there has had a good win ratio with the fib retracement levels and on what time frame.

Some pairs seem to work better than others???

[eternalfuture]

How do you use the fibo ratios? I use the fibo ratios to supplement my other analysis. Fibo ratios work well, actually. When you use them along with Elliot Wave analysis, the wave could be projected from these ratios. Although I use fibo ratios very often, but I could not see how they can be applied solo, without the supports of other indicators. Are u short at fibo based retracements? or long at fibo-based retracements? Or.... well, there are various possible applications of the fibonacci numbers.

[xtsunami]

socrates,

I use fibonacci extensively in my trading, retracements and extensions. As for time frame, I use both long and short term charts, but trade off a shorter chart configured to give me long term chart info.

As far as winning percentage...not nearly as important as your money management skills. The key question: what is your risk to reward. My average stop loss is 10-15 points ( it does get hit on ocassion) but my average win is over 50 points. I might add, that I only daytrade.


xt