The New Fibonacci Trader: Tools and Strategies for Trading Success 1st Edition

This book is a must for anyone trading or studying to trade. There are a lot of books available for traders but this is one of those "must haves."

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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?

This book explains Fibonacci numbers, ratios, patterns, and shapes in depth and detail. I have had a little success with Fibonacci retracement areas, so reading this book was worth it. This book explained trap areas in a way that was helpful, and it also explained how the Elliot wave theory is based on Fibonacci numbers: the 3-wave or 5-wave patterns last for 13, 21, or 34 days, often. And also, uptrends or downtrends usually last for 3, 5, 8, or 13 days. As the author says, Fibonacci ratios work well enough that, as a trader, I can't ignore them.

It came with a disk that is for 10 year old computer program and I could not make it to work on my computer. I tried to download the archive disk to get the same pictures like in the book. It was not successful. Some of the pictures are so small that difficult to read some very important numbers. I liked how author broke it into few parts, but feels like the author should work a little bit more. I really appreciated the examples that sometimes price does not go as calculated.

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.

i have already been in corrrespondence regarding this item. The CD did not work and the author told me that it was outdated. It is therefore obsolete and Amazon have agreed a refund

I'm tempted to start writing what I call 'investment teaser books' - investment books that claim to introduce new concepts, set the scene, don't deliver anything and are essentially just adverts for the author's website. These books are almost invariably useless, although I occasionally buy them by mistake because I order them over the Web without looking at a copy before hand.Anyway, this is an EW-inspired 'teaser book', that basically offers new ways of torturing raw data so that it fits spirals/channels/ellipses.For example, the author tells us that you can always draw an elliptical envelope around short term trends. You never quite know how long the price is going to stay in that ellipse, but if it breaks through the ellíptical wall, then, have you guessed? That's right, time to start carefully drawing the next ellipse. Sometimes, prices are in two ellipses at once. The problem is that you never quite know whether you've got the right ellipse, because the authors couldn't possibly give away their proprietary calculation method for only the cover price of the book.The section on spirals suffers from the classic vice of 'advanced' technical analysis that draws so many lines on a chart that the price will eventually hit one of them.You can also put their amazing new tools together and get something really psychedelic.This is by no means the worst book (that honor belongs to Connie Brown)on TA even though it's turgidly written , but I'm not sure how you use it to make money except to write one of your own which draws lots of complex geometric figures over winning trades. (I'll have to do a 3D one that projects price and time onto the surface of a parabolic hyperboloid and call it 'Non-Euclidean Trading'). Keep your money, people.