Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: Lazarus_Long who wrote (43465)	7/5/2003 2:11:00 AM
From: Jorj X Mckie	Read Replies (2) of 57110

my views are that I have not done an empirical study and therefore won't take a hard position. However, I have found that 50% and 61.8% give or take a percent, seem to have some meaning. But it gets a little meaningless when you have 78%, 61.8%, 50%, 31%, 28%...etc.... I think in a lot of ways that TA can be a means to enforce money management. You see a line and call it support, if it breaks that line, you sell your position to minimize losses. Whether or not there was any meaning to that line or not becomes secondary to minimizing losses. However, I have seen enough things work that I do believe certain patterns do have meaning and that certain fibs are a good place to start for targets.

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