Fibonacci Trading: How to Master the Time and Price Advantage (Hardcover)

by Carolyn Boroden (Author)
Key Phrases: prior corrective declines, ideal trade setup, other price relationships, Fibonacci Trading, Dynamic Trader, E-Mini Russell (more...)

Editorial Reviews

Product Description

Made famous by the Italian mathematician Leonardo De Pisa, the Fibonacci number series holds a Golden Ratio that is universally found in nature and used by architects, plastic surgeons, and many others to achieve “perfect” aesthetic proportions. Now, in this groundbreaking guide, noted technical trading advisor Carolyn Boroden shows you how Fibonacci pattern studies can be used as an extremely effective method for achieving greater profitability in stocks, futures, and Forex markets.

Fibonacci Trading provides a one-stop resource of reliable tools and clear explanations for both identifying and taking advantage of the trade setups naturally occurring in the markets that will enable you to reach the highest rate of profitable trades. Inside, you'll find a unique trading methodology based on Fibonacci ratios, and the author's personal experience analyzing and setting up the markets in real time, which makes this practical volume invaluable to the self-directed investor.

Complete with detailed charts and insightful graphics in each chapter, Fibonacci Trading features:

• Dependable guidance for determining important support and resistance levels, along with expert advice for using them to maximize profits and limit losses
• Step-by-step processes for using Fibonacci analysis to predict turning points in the market far enough in advance to generate substantial profit
• Valuable tips for using Fibonacci analysis to establish optimal stop-loss placement
• Revealing coverage on how Fibonacci relationships can create a roadmap for the trader based on high percentage patterns

Fibonacci Trading also provides a four-step formula for applying the covered techniques in a highly effective approach. Flexible enough for all markets and trading styles, the formula helps you focus your newly developed knowledge and skill sets into a solid trading methodology, defined trading plan, successful trading mindset, and disciplined trading approach that stacks the odds for profit in your favor.

This hands-on guide is packed with a wealth of actual trading situations, setups, and scenarios that bring the four-step formula to life so you can immediately use it in the real world.

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

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Product Details

• Hardcover: 288 pages
• Publisher: McGraw-Hill; 1 edition (February 25, 2008)
• Language: English
• ISBN-10: 007149815X
• ISBN-13: 978-0071498159
• Product Dimensions: 9.3 x 7.6 x 1.1 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars See all reviews (12 customer reviews)
• Amazon.com Sales Rank: #26,700 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

24 of 26 people found the following review helpful:

5.0 out of 5 stars FINALLY A NEW TAKE ON FIBONACCI TRADING, May 21, 2008

By	Dilla "MadTr8r" (Los Angeles, CA) - See all my reviews

To start off I would like nothing more than to take this golden nugget of a book and lock it up never to be seen by anyone except for me, but alas I feel it a duty to give an honest review on what I believe to be a great NEW take on fibonacci trading. I use the term NEW loosely, it's new to most traders because I've never found anyone who teaches what Carolyn covers in depth here, and I feel it offers more value than all the other fib systems that have been around for years.
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.!

11 of 12 people found the following review helpful:

4.0 out of 5 stars Good book, not for novices., September 24, 2008

By	Lords of Acid (San Jose, CA United States) - See all my reviews

Traders reading this book should have a basic understanding of technical analysis and charting.

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.

11 of 13 people found the following review helpful:

5.0 out of 5 stars Wow. Smart, well-written, great charts. A money-maker for traders., May 28, 2008

By	superk8 "superk8" (Arizona) - See all my reviews

This book has everything you need to get started in applying the Fibonacci method to futures and commodities trading analysis. I'm still entry-level in trading and feared this would be over my head, but the charts and graphs are helpful and the tone is accessible. I've already read it twice and constantly refer back to it as I work. It takes a commitment (all of trading does), but I have already begun to experience true results where it counts with this guide. It has really refreshed my game.