The New Fibonacci Trader: Tools and Strategies for Trading Success
Author: Robert Fischer, Jens Fischer
List Price: $90.00
Our Price: Click to see the latest and low price
ISBN: 0471419109
Publisher: John Wiley & Sons (12 October, 2001)
Sales Rank: 78,937
Average Customer Rating: 3.33 out of 5
Customer Reviews
Rating: 4 out of 5
Practical Fibonacci Tricks v Guesswork
If you wanted a countertrend method for trading and like to add Fibonacci shapes, this is the book. While wave counts are certainly important, the book gives confirmation for wave counts by either Fibonacci summations or time goal ratios to confirm your current wave. There is no guarantee actual price will comply, but then any pattern trade should have no guarantee either--pennants, head and shoulders, etc. Worth a look if you are looking to add another trick to the bag of trading strategies. Also, work the examples so you will see the author actually losses money on some trades using this strategy and makes money in others. Looks like the author has integrity and some honestly because he presents the frequency of trades, success/failures, profit/loss, and graphs to confirm his trades.
Rating: 2 out of 5
Although Fibonacci tools
can do a great job in your trading, this is not the way you can use them. The main concern is always what pivots you use to draw a spiral or to draw the fibonacci time goals. It certainly looks great in hindsight but what about the swing pivoz highs and lows you use. Where is the rule for using ceratin pivots or swings. Sorry, this is a very soundly written book, but what is the real deal when it comes to real trading?
Rating: 4 out of 5
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Easily written for everybody to understand, no filler talk and repetition. Covers PHI channels, spirals and ellipses. Fib summation, corection/extension and time goal analysis.
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