Fibonacci Applications and Strategies for Traders (Hardcover)

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Key Phrases: minimum swing size, double retracement, franc chart, Robert Fischer Research, Omega Research, Dow Jones (more...)

Editorial Reviews

Product Description

A fresh look at classic principles and applications of Fibonacci numbers and the Elliott Wave trading system. Demonstrates how to calculate and predict key turning points in commodity markets, analyze business and economic cycles as well as identify profitable turning points in interest rate movement. Forty charts and tables show how to use this analysis on a daily, weekly or intra-day trading basis.

From the Publisher

A fresh look at classic principles and applications of Fibonacci numbers and the Elliott Wave trading system. Demonstrates how to calculate and predict key turning points in commodity markets, analyze business and economic cycles as well as identify profitable turning points in interest rate movement. Forty charts and tables show how to use this analysis on a daily, weekly or intra-day trading basis.

Product Details

• Hardcover: 192 pages
• Publisher: Wiley; 1 edition (October 8, 1993)
• Language: English
• ISBN-10: 0471585203
• ISBN-13: 978-0471585206
• Product Dimensions: 9 x 6 x 0.8 inches
• Shipping Weight: 14.9 ounces (View shipping rates and policies)
• Average Customer Review: 3.5 out of 5 stars  See all reviews (14 customer reviews)
• Amazon.com Sales Rank: #525,094 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

14 of 14 people found the following review helpful:

4.0 out of 5 stars A useful starting point, February 21, 2003

By	Simple Student (Florida) - See all my reviews

The intent of Fischer's work here is to make the Elliott Wave Principle useful for objectively setting price and date targets. As he points out, there is too much subjectivity in wave counting to make Elliott Wave a useful predictive method, but the application of Fibbonaci expansion ratios makes possible an objective trading strategy.

One valuable element is his method for calculating Fibbonacci price confluence zones by multiplying the amplitude of wave 1 by a factor of 1.618, then multiplying the total amplitude from the beginning of wave 1 to the end of wave 3 by a factor of 0.618, giving a target zone for the end of wave 5.

Another interesting concept is the application of Fibbonacci expansion numbers to date ranges, for example by multiplying the days difference between two swing points by 1.618 to find the possible next swing date.

Fischer includes specific trading strategies in order to minimize risk and increase the chaces of trading success. This is not a "get rich in the market" how-to book, but it offers useful tools for a careful and disciplined trader to make money consistently in the securities markets.

Finally, he offers the tantalizing prospect of using the Fibbonaci spiral to combine both price and time expansion targets, and includes in an appendix the instructions for programming a computer to do this.

Altogether, a worthwhile text deserving of careful study.

14 of 14 people found the following review helpful:

4.0 out of 5 stars An excellent theoretical application of Fibonacci., December 10, 1998

By A Customer

Fibonacci is a standard trading tool for professional traders, and Robert Fischer details how to apply it to chart movements. What I found most informative was the explanation for using it in time, horizontally, as well as vertically. Unfortunately, this book is not for the beginner trader, and there are not any exact directions on how to trade.

33 of 39 people found the following review helpful:

1.0 out of 5 stars Murky, July 4, 2004

By	R. M. Barge (Atlanta, GA USA) - See all my reviews (REAL NAME)

Fibonacci lived in the Renaissance, and Elliot in the 1930's. One would think that a writer could do a decent job of explaining their theories by now, or at least, for a $60 retail price tag, hire an editor or professional writer to make his observations comprehensible.

This work suffers from a lack of both. After a long bit of hocus-pocus about Fibonacci numbers (complete with nautilis pictures and sunflowers), the author launches into Elliot wave analysis, gives a lot of assorted details about it, and then attempts to show how the amplitude and time of waves might or might not correspond to Fibonacci numbers.

It is hard to say why a bad book is bad. Fisher starts by not really stating what Elliot's principles were -- the reader comes into the middle of a movie. He then begins talking at random about exceptions and special cases, unfortunately interspersed with just the wrong information. He shows Finbonacci spirals imposed on stock charts with inadequate explanation of how they are created, how they might be used *if* they work, and no fathomable discussion of the intersections (and non-intersections) of the stock chart with the spiral.

I started life as a math major at a prominent university, and I can tell a good practical mathematics text when I see one. This is not one. It is a poorly organized hodgepodge of ideas, often inadequately explained. The book is one third the length of what it should be to cover this material, and what is there is, is not very well done. Read something else, whether you are looking for an introduction or an advanced treatise.