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Fibonacci Analysis [Hardcover]

Constance Brown
1.5 out of 5 stars  See all reviews (2 customer reviews)
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Book Description

Aug. 1 2008 Bloomberg Financial (Book 42)
Only someone who is both a successful trader and a successful writer could pull off what Constance Brown has accomplished in this book: distilling Fibonacci analysis to two hundred or so comprehensive, clearly written, eminently practical pages.

Brown knows exactly what a professional trying to come up to speed on a new trading tool needs and she provides it, covering what Fibonacci analysis is, how it works, where it comes from, pitfalls and dangers, and, of course, how to use it. Basic trading strategies are touched upon in virtually every chapter.

Fibonacci analysis is one of the most popular technical analysis tools, yet it is often used incorrectly. Brown quickly clears up common misconceptions and moves on to show, step by step, the correct way to apply the technique in any market.

Those with Fibonacci analysis software will learn how to use it with maximum effectiveness; those without will chart the market the old-fashioned way. All will find answers to the trader's most important questions:

  • Where is the market going?
  • At what level should my stop be entered?
  • Based on the size of my trading account, how much should I leverage into a trading position?
  • Can I tell if I am in trouble before my stop is hit?
  • How much should I buy or sell if given a second or third opportunity?

Occasional references to other tools--including Elliott Wave, W.D. Gann, and candlestick charts--and an extensive bibliography make this book richer for accomplished technical analysts without confounding the less experienced. Plentiful real-life examples and dozens of carefully annotated charts insure every reader will get maximum value from every minute spent with this book.

Gold Medal Winner (tie), Investing Category, Axiom Business Book Awards (2009)

Winner: Book Series Cover Design, The Bookbinders Guild of New York/2009 New York Book Show Awards


Frequently Bought Together

Fibonacci Analysis + Technical Analysis for the Trading Professional, Second Edition: Strategies and Techniques for Today’s Turbulent Global Financial Markets + Mastering  Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises
Price For All Three: CDN$ 120.30


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Product Description

About the Author

Constance Brown, CMT, is on the accreditation board of the Market Technicians Association. Her book, Technical Analysis for the Trading Professional, is required reading for the Level III Chartered Market Technician certification exam. She founded Aerodynamic Investments to advise and offer research to financial institutions and banks worldwide. Clients include Credit Suisse, Merrill Lynch, Morgan Stanley, Bundesbank, and Bank of Tokyo as well as clients in Kuwait, South Africa, Australia, Russia, and Indonesia. Previously, she worked as an institutional trader in New York City. She now lives and works in South Carolina. She is the author of six other books.

Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Most helpful customer reviews
1.0 out of 5 stars not recommended Sept. 10 2012
Format:Hardcover|Verified Purchase
This has been one of the worst books out of the 100 plus trading books I've read. It's methods are completely subjective in nature. You literally jiggle your fib lines around until it seems they are in an area where the market has responded to those fib levels in the past. What absolute nonsense! I read nearly the whole book while waiting in the emergency room of my local hospital and I can tell you it did nothing but make my wait all that much worse. Don't do it folks. Don't buy this book. It literally will do you more damage than good. No value can be placed on it. It should not have been published.
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2.0 out of 5 stars Ok Book... Dec 27 2010
Format:Hardcover
You have to go through a lot of lablabla to get to the meat of the book!
She did not introduce anything new in this book and not enough details; maybe because she wants us to attend her $25000 seminar...
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.5 out of 5 stars  47 reviews
49 of 56 people found the following review helpful
5.0 out of 5 stars Read This! Oct. 16 2008
By pete - Published on Amazon.com
Format:Hardcover
I have read this book twice and started using the confluence zones. Now the book is used like a daily reference manual.

Keep in mind that the other reviews you see above are correct; knowledge of technical analysis is helpful in understanding this information. I have been investing and trading for several years and I have also accumulated 100 books on the subject. None of these books ever compelled me to write to the author and thank them for writing their book; that is until this one. Constance has a gift for teaching. Being brilliant helps too! This book is required reading for the serious trader.
I am amazed at what happens in the confluence zones!! I am getting better and better at drawing the correct Fib Levels and my zones are becoming meaningful and respected. This makes me freak out a little because these are levels I would never see otherwise; they have no meaning until you find them!! (if that makes any sense at all)I know several traders who think they are using Fibonacci Levels. Now I recognize that they are using Fibonacci all wrong. I was too; before I read this book.

My advice; get the book, read it, read it, read it; then practice like you have never practiced before.

Tools are only as good as the hand they find themselves in; be committed and this will amaze you too.
60 of 70 people found the following review helpful
1.0 out of 5 stars Not recommended Nov. 29 2008
By Jackal - Published on Amazon.com
Format:Hardcover|Verified Purchase
The review above written by Pete is very positive. You should be aware that Pete only has reviewed one book.

Fibonacci seems to be an area of technical analysis that is very poorly covered in the literature. There are several books but many of them are by writers of newsletters (and the books often spend page after page on historical irrelevant detail). This doesn't automatically make the books bad, but it is likely that the author will hold back certain information.

This book is not for beginners. I would buy Robert Miner's book to get the received wisdom on Fibonacci retracements and extentions. Then I would experiment trading on those ideas for a couple of years. Anything above this level isn't in the public domain and you have to be prepared to spend a lot of time doing research. If you want to learn more you can consider buying this book or another specialised book (Greenblatt or Boroden). But be aware: The further you read this book the more opaque it becomes. I think you also need to subscribe to the author's newsletter. So this author does hold back information, but in the earlier chapter the writing is fairly straightforward and some testable ideas are presented.

Personally I have decided not to go down this route. I do believe there is value in basic Fibonacci ratios, but there is too much mysticism in the advanced literature for my comfort. Maybe I'm missing something, but I take the risk.

For a solid primer and intermediate description of Fibonacci and trading, I would recommend Boroden's Fibonacci Trading : How to Master the Time and Price Advantage. Many of the ideas are also found in Miner's High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets (Wiley Trading). The authors seem to be friends so a lot of overlap in material. Another Fibonacci book that I would rate higher than the current book isHarmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets (Pearson Custom Business Resources).

I've still given this book 3 stars because I suppose it is cutting edge and if you are interested in the area it is worth getting other people's ideas for forward your own thinking. Still I'm on the borderline of giving the book only two starts because it could have been written in a much clearer way.

UPDATE 2011: I now have much less patience with poor quality trading books. When I wrote the original review I still believed that the author was honestly trying to convey her knowledge to the best of her ability. I will change the rating to one star.
19 of 21 people found the following review helpful
2.0 out of 5 stars Disappointing June 22 2010
By C. Chen - Published on Amazon.com
Format:Hardcover
This book might be more appropriately titled: "How Constance Brown Makes Fibonacci Analysis" so not to mislead readers into thinking this is a exhaustive exploration of the subject. The content is laid out as a narrative with little effort made on critically establishing contexts and criteria of the author's analysis/decisions. In other words, this book is more of a operator's manual than an educational piece.

Setting aside my opinions of the validity of Fibonacci analysis and the author's obvious success in the traders' world, my quarrel with this book is on the very, very troubling prose construction and content organization:

1. No provision of a master list of the o-so-important 'internal markers' that the author keeps alluding to throughout the text. Those 'markers' are sprinkled here and there, seemingly inconsistently applied to each case study.

2. Starting in Chapter 2, there are excessive usage of "I will discuss this later" without making clear references, well, later.

3. The utility of this book is hampered by its content organization. The reader will likely have to do a lot of note keeping (plus organizing and reconciling the notes eventually), which would not have been necessary if more work is done by an editor. The writing probably would not fare well in any college-level English course, as an example from page 46:
"(paragraph break)
But how can I be confident this is the price support level the market will respect for a significant rebound? From this simple method alone, I cannot answer this latter question. For this reason, we need to continue.
(paragraph break)"

Unfortunately, I must say this is a haphazard attempt at a subject I find very interesting, by a trader I respect, and from a publisher I trust. I certainly expected a lot more from a piece of work that is introduced as a author's legacy work.
29 of 37 people found the following review helpful
5.0 out of 5 stars A deep and informative book. For advanced studies only. Sept. 7 2008
By P. Harrington - Published on Amazon.com
Format:Hardcover
Constance Brown is a very intelligent person. I said that first because this is not the type of investing book that deals in general market tactics and strategies that most people write and can write. If you read this book you might find yourself(as I did) going back and reviewing things before you get the hang of it.

Fibonacci systems are not easily understood if they are to be implemented correctly. This book covers all you'll need to understand and implement Fibonacci systems in your technical analysis, except for the software obviously. Like she says in the book, don't feel discouraged if you don't get it right away. Keep at it and keep researching and tempering your skill.

I wish Mrs. Brown would write a series on Technical Analysis(she mentions other topics that she would like to write about in the book). She has written other books but I'd like to see them republished or some written anew.

All-in-all a great book. Not for beginners. Definitely rewarding.

Pluses: A first(or near it) of it's kind. Deep subject reviewed and explained. Author has authority and knowledge on subject.

Minuses: Book might be out of reach for some leading to disappointment. Definitely requires study to fully understand.
11 of 13 people found the following review helpful
1.0 out of 5 stars Pretentious. Moi? Aug. 9 2011
By sg_Miami - Published on Amazon.com
Format:Hardcover|Verified Purchase
I day trade using Fibonacci patterns as my primary methodology so I am not a stranger to this approach, and I was looking forward to increasing my technical knowledge of this pattern; however, I found this book exceedingly difficult to follow. It is poorly written, poorly organized, and filled with diagrams that are only partially explained. One has to also wade through a great deal of pseuodo-historical and pseudo-mathematical balderdash that has nothing to do with trading but which has a great deal to do with the author's desire to impress us with her erudition.
Maybe Ms. Brown is the great and wonderful technician that she repeatedly tells us she is, but she certainly isn't a pedagogue.
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