Fibonacci Trading: How to Master the Time and Price Advantage Hardcover – Mar 17 2008
|New from||Used from|
Frequently Bought Together
Customers Who Bought This Item Also Bought
No Kindle device required. Download one of the Free Kindle apps to start reading Kindle books on your smartphone, tablet, and computer.
To get the free app, enter your e-mail address or mobile phone number.
From the Back Cover
Accurately predict market trends with the power of Fibonacci
Fibonacci Trading offers new insight into pinpointing the highs and lows in market trading with a proven approach based on a numeric pattern known as the Fibonacci series. Armed with the know-how and tools inside, you'll learn how to maximize profits and limit losses by anticipating market swings based on an enlightened understanding of how Fibonacci levels determine market trends.
This innovative approach created by pioneering technical analyst Carolyn Boroden enables you to predict turning points well in advance, better determine stop-loss placement, and accurately identify critical support and resistance levels. More than 100 charts and illustrations bring concepts to life to form a powerful formula consisting of four key components:
- Methodology-Use Fibonacci time and price analysis to define risk and set goals
- Trading plan-Create a solid trading business plan defining setups, entry and exit parameters, and money managemnet
- Positive trading psychology-Put yourself in the right mindset for success, which allots for 85% of the game
- Discipline-Successfully execute your investment plan with expert tips and advice
About the Author
Carolyn Boroden has been a commodity trading advisor and technical analyst for more than 20 years and has worked on many of the major trading floors in the U.S. She is founder and president of Synchronicity Market Timing, LLC, a Fibonacci trading advisory service.
Inside This Book(Learn More)
What Other Items Do Customers Buy After Viewing This Item?
Top Customer Reviews
Very practical and I have already used it in my trading with success.
Most Helpful Customer Reviews on Amazon.com (beta)
I am familiar with Carolyn's work and this book really does explain 95% of the trading methodology she uses in her trading room.
You do not need the software (Dynamic Trader) mentioned in the book to use her setups. It makes it more convenient (especially the time cycle setups) but any halfway decent trading platform makes it pretty easy to apply the techniques.
As with any trading technique, risk management and mental mastery are as important as the actual entry/exit strategies.
I've had the pleasure of meeting the author at a seminar in Los Angeles back in Feb 08, and if I have ever seen anyone working their butt off putting their system to the test on a daily basis it was Carolyn(and no I dont work for her). It was simply amazing to see this method which I had not tried or heard about(I've been trading over 9years) of applying fibonacci levels overlapping each other to confirm setups for potential trades, symmetry setups and time and price confluence and cycles creating a robust set of tools for improving ones trading results. And her results were phenomenal, the prices would react like magnets on the charts she had clusters layed up on, I don't know how else to put it other than impressive! One of the great things about this book is that it's full of charts on almost every page, with a topic like this its nice to see plenty of visual elements to keep you focused on the material being taught, the writing is clear and concise and even though most people will doze off when reading trading books the information is to the point, enough to keep you awake and plugging away at it. Believe me financial books are the number one cure for insomniacs!!!!
I have to say in my opinion this book is not for a total newbie to trading, it would help if you've at least read one or two other books on trading(not investing) or chart reading, because this books is clearly focused on applying Fibonacci techniques to your trading, its not an intro book on how to trade. One thing to note, she is using a specialty program to draw her charts, thats not available on any trading platforms(I use TradeStation,Omnitrader) or charting websites. So if you want to draw it the way she has you many consider purchasing the program, it may be a good investment in your trading career, or you could always sign up to her Trading Room where she does all the work for you.
I truly believe using whats taught here is a great set of tools to add to any strategy or system to improve your probability of having winning trades, and I am glad she chose to share her knowledge and expertise to help more traders find success.!
Let me explain : when you want to apply Fibonacci analysis, you need to know two things : where to start, and where to end each grid.
In this book, you only take the highs and the lows ... in actual trading it just doesn't work like that and I constantly failed to produce good results using the swings highs and lows.
If you want to learn Fibonacci analysis, read Constance Brown's book on the subject instead of Boroden's.
Constance Brown's book details how to choose the beginning and the end of ranges.... and the results I personally obtain are incredible : the markets stops and reverse within ticks of the Fib levels.
With Boroden's highs and lows, Fibonacci levels are not respected at all by the market and I suspect the examples to have been very carefully chosen.
In conclusion : avoid this book
Look for similar items by category
- Books > Business & Investing > Industries & Professions > Accounting
- Books > Business & Investing > Investing
- Books > Business & Investing > Management & Leadership > Management
- Books > Business & Investing > Popular Economics
- Books > Professional & Technical > Accounting & Finance > Industries & Professions > Accounting
- Books > Professional & Technical > Business Management > Management & Leadership > Management