The New Fibonacci Trader: Tools and Strategies for Trading Success [Hardcover]

Robert Fischer (Author), Jens Fischer (Author)

Book Description

ISBN-10: 0471419109 | ISBN-13: 978-0471419105 | Publication Date: October 12, 2001

Powerful new strategies and tools from the leading exponent of one of today's most important trading tools

With his bestselling Fibonacci Applications and Strategies for Traders, Robert Fischer established himself as the leader in the Fibonacci approach to trading. This new workbook offers a powerful new arsenal of tools, using step-by-step exercises. Fischer carefully delineates techniques for combining his strategies into precise, reliable, well-disciplined trading tools that enable traders to take advantage of naturally occurring and recurring patterns.

Editorial Reviews

From the Inside Flap

With his bestselling Fibonacci Applications and Strategies for Traders, Robert Fischer established himself as the leader in the Fibonacci approach to trading. Moving beyond the old Fibonacci trader, who had the ideas, rules, and tools on paper, Fischer, with son Jens Fischer, now use computer graphics and calculation technology along with new Fibonacci tools to successfully trade the markets in The New Fibonacci Trader.

In trading the markets it's important to know what to buy, but it's even more important to know when to buy. Accurately measuring price and time signals are one of the best ways you can do this. Now, this groundbreaking book and CD-ROM provide a powerful new arsenal of Fibonacci trading tools and software-WINPHI-to recognize patterns, predict swings, and buck the trend-so you can achieve the highest rate of profitable trades.

A quick recap of the core principles of Elliott Wave Theory and Fibonacci Ratio are discussed to present an overall framework for The New Fibonacci Trader. From here, Fibonacci expert Robert Fischer gets to the heart of the concept by examining six geometrical Fibonacci trading tools:
* Fibonacci Summation Series: to capture the rhythm of annual market swings
* Corrections and extensions: trading with and against the main trend
* PHI-channels: as indicators for market trend changes
* PHI-ellipses: to identify underlying structures of price moves
* PHI-spirals: to identify trend reversals in the market
* Fibonacci time goal analysis: that use the ratios 0.618, 1.000, and 1.618 to anticipate the exact day, in time and price, a trend will change direction.

Along with helpful charts and graphs, The New Fibonacci Trader shows you how to effectively apply Fibonacci trading tools by using state-of-the-art WINPHI software, which is included in the companion CD-ROM.

Used individually or in concert, Fibonacci trading/analysis tools can provide the foundation for sophisticated trading strategies. These concepts are valid for volatile and marketable individual stocks worldwide, and are not just limited to the trading environment of the United States. In both bull and bear market conditions, these concepts work equally well. Many of the tools outlined can be applied to monthly, weekly, daily, or even intraday charts.

Whether you're dealing in stocks, futures, or cash currencies, The New Fibonacci Trader will help you calculate key turning points in the markets, analyze market cycles, and make disciplined trading possible and profitable.

From the Back Cover

Use new Fibonacci concepts and the latest technology to turn promising trading ideas into profits

In this groundbreaking new book, Fibonacci expert Robert Fischer and coauthor Jens Fischer build on the foundation of Robert's popular first book Fibonacci Applications and Strategies for Traders to bring you up-to-speed on the new techniques and technology that will allow you to use Fibonacci trading tools/analysis like never before.

The New Fibonacci Trader and companion CD-ROM offer a powerful new arsenal of Fibonacci trading tools and software-WINPHI-to recognize patterns, predict swings, and buck the trend-so you can achieve the highest rate of profitable trades. In-depth analysis of six geometrical Fibonacci trading tools, which are leading indicators, not lagging ones like the instruments of technical analysis . . .
* Fibonacci Summation Series
* Corrections and extensions
* PHI-channels ? PHI-ellipses ? PHI-spirals
* Fibonacci time goal analysis

. . . and cutting-edge software, which easily chart these tools, will allow you to identify trading opportunities by measuring price and time signals that you would otherwise miss.

Whether you're dealing in stocks, futures, cash currencies, or other financial ventures, The New Fibonacci Trader will help you calculate key turning points in the markets, analyze market cycles, and make disciplined trading possible and profitable.

For more information, go to www.fibotrader.com

See all Editorial Reviews

Product Details

• Hardcover: 352 pages
• Publisher: Wiley (October 12, 2001)
• Language: English
• ISBN-10: 0471419109
• ISBN-13: 978-0471419105
• Product Dimensions: 6.4 x 1.1 x 9 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 2.2 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #617,046 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

50 of 52 people found the following review helpful:

1.0 out of 5 stars Another useless investment teaser book!, April 9, 2004

By 

socrates964 "socrates964" (SÃO PAULO, SP Brazil) - See all my reviews

This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover)

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.

20 of 20 people found the following review helpful:

4.0 out of 5 stars Practical Fibonacci Tricks v Guesswork, July 17, 2003

By 

W. G. Tom (Mtn. View, CA United States) - See all my reviews
(REAL NAME)   

This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover)

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.

20 of 23 people found the following review helpful:

4.0 out of 5 stars 1 - 1 - 2 - 3 - 5 - 8 - 13 - 21 - 34 - 55 - 89 - 144 -, May 2, 2002

By A Customer

This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover)

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.
However, this book does not offer a fully automated trading models...