The advanced guide to fibonacci trading PDF- How to trade stocks and Forex with Fibonacci numbers show you what Fibonacci trading is all about and teach you how to use it. You will learn which trigger works best and when is the right time to exit. There is an important chapter about money management, because, without capital preservation, you are doomed to failure. I will teach you when and how to enter a trade and when to exit it.
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Why are you still losing money in trading? Why, after few years of active trading, are you not making profit despite the fact that you have read dozen of trading books by professionals? I am quite sure I know the answers to these questions. Just like many unsuccessful traders and investors, you are using the wrong tools.
It may sound ridiculous but think about it. Most books are about lagging indicators, such as oscillators and moving averages. You build your trading plan around those tools but, with time, the contents of your trading account are shrinking because of losses. The reason for this will be discussed in the next part.
The Fibonacci technique is commonly used by professional traders around the world. Also, people who trade for a living have built their trading plans basing on Fibonacci numbers. My knowledge has been built upon years of looking for the best trading tools and the contact I have had with many professionals.
A few years back, when I switched from trading with lagging indicators to the Fibonacci technique, my results have improved. When I added a proper money management to my trading, my results have improved even more. Now, I am a profitable trader and I can show you the path to achieving this.
But let us make one thing straight right at the beginning of this book. I am not selling you a magic formula or system which makes money on every day basis. I am not a con-artist who is trying to sell you a pack of 5 DVDs for 500$ or even 999$ together with a proven system that makes 300% profit in one year. Such systems do not exist. Of course, there is automated trading, but in this case the system has to be optimized. Markets are constantly changing, so are optimization parameters. You may buy a system which has worked well on historical data, but suddenly starts losing money. Be aware of this!
In this e-book I want to show you what Fibonacci trading is all about and teach you how to use it. You will learn which trigger works best and when is the right time to exit. There is an important chapter about money management, because, without capital preservation, you are doomed to failure. I will teach you when and how to enter a trade and when to exit it.
But remember – you are responsible for your trading results. I show you these great tools, teach you how to manage your money, but if you cannot follow some basic rules, you will not succeed.
I assume that you have some basic knowledge of technical analysis. In order to understand concepts from this e-book, you should know what candle is, how support and resistance works, how basic candle formations looks like. These are basic concepts, and since this is an e-book about trading according to Fibonacci, I will not describe them in detail. If you do not know these tools, browse the Internet for more information first and then come back and finish reading this book.
I am sure you will achieve success in trading. It takes some time to learn and understand Fibonacci, but it pays off. I have tried to put many examples into this book, so you can have a good understanding of the topic.
Good luck on your journey!
The advanced guide to fibonacci trading PDF
PART 1. INTRODUCTION
WHY IS USING THE FIBONACCI TOOLS BETTER IDEA THAN TREND FOLLOWING?
BUY AND HOLD IS NOT THAT GREAT
TREND FOLLOWING IS SIMPLE, BUT…
THE MAIN DIFFERENCE ON EXAMPLE
WHERE DO FIBONACCI NUMBERS COME FROM?
WHAT IS THE FIBONACCI RETRACEMENT AND RATIO?
WHAT IS THE AIM OF THIS E–BOOK?
PART 2. THE FIBONACCI RETRACEMENT LEVELS
HOW TO DRAW THE RETRACEMENT LEVELS? IT IS EASY LIKE ABC
SHOULD THE PRICE TOUCH THE RETRACEMENT LEVELS?
WHAT RETRACEMENT LEVELS SHOULD I USE?
I HAVE MY RETRACEMENT LINES, WHEN SHOULD I OPEN A TRADE?
WHERE TO PUT STOPS?
THE RETRACEMENT AND TREND LINES
THE FIBONACCI RETRACEMENT AND SUPPORT
PART 3. THE FIBONACCI PROJECTIONS
WHEN DO YOU EARN MONEY?
TOOL 1: THE FIBONACCI EXPANSION
HOW TO DRAW THE EXPANSION LEVELS?
HOW IS IT CALCULATED?
TOOL 2: THE FIBONACCI EXTENSION
THE FIBONACCI EXTENSION IN PRACTICE
WHICH EXTENSION LEVELS ARE MOST IMPORTANT?
IT IS ALL ABOUT PROBABILITY
PART 4. THE FIBONACCI CONVERGENCE
PART 5. WHEN TO ENTER A TRADE – A SAFE SCENARIO
WHEN TO ENTER – MY FAVORITE SYSTEM
THE GAME PLAN
THE MAIN DIFFERENCE BETWEEN A FIBONACCI TRADER AND AN ORDINARY TRADER
WHERE TO PLACE THE STOP LOSS IN THE SAFE SCENARIO?
WHICH BREAKOUT IS CORRECT?
THE WIN/LOSS RATIO
PART 6. TO DO WHEN TO ENTER – A RISKIER SCENARIO
THE GAME PLAN
WHERE TO PLACE THE STOP LOSS IN THIS SCENARIO?
THE CONFIRMATION SIGNALS
THE CLOSE ABOVE/BELOW THE MOVING AVERAGE
THE MOVING AVERAGES CROSSOVER
THE TREND LINES
THE WILLIAMS %R AS CONFIRMATION
THE RANGE TRADING
PART 7. WHEN TO EXIT A TRADE
WAY NO. 1
SETTING AN EXIT PLACE
WAY NO. 2
THE 3 PARTS RULE
PART 8. MY TEMPLATE
PART 9. A FEW IMPORTANT THINGS YOU SHOULD KNOW
HOW TO DEFINE A TREND?
LOOK AT THE CHART FROM A DISTANCE
IDENTIFY HIGHS AND LOWS
USE THE TECHNICAL ANALYSIS TOOLS
MY SET OF TOOLS
THE IMPORTANCE OF THE HIGHER TIME FRAME
TRADING THE NEWS WITH FIBONACCI
OTHER FIBONACCI TOOLS
PART 10. FIBONACCI AND PIVOT POINTS
WHAT ARE PIVOT POINTS?
A MONTHLY, WEEKLY OR DAILY PIVOT?
HOW TO USE FIBONACCI AND PIVOTS TOGETHER?
PART 11. MONEY MANAGEMENT
STOP LOSSES AND THE 1% RULE
WHAT IF I STILL DO NOT LIKE THE 1% RULE?
RAISING THE STOP LOSS ORDER
PART 12. MORE EXAMPLES OF TRADES
THE “HOW-TO” ARTICLES
HOW TO INSTALL THE RAINBOW TEMPLATE FROM PART X?
HOW TO INSTALL PIVOT POINTS?
HOW TO SETUP THE RETRACEMENT AND EXTENSION LINES TOGETHER IN METATRADER?
HOW TO DRAW THEM CORRECTLY?
About author- ABOUT SIMON
My name is Simon. I am a retail trader who trades mainly on the currency market, sometimes on indices and metals.
My adventure with trading started many years ago with the stock market. Nowadays I rather trade the currency market.
I use mainly technical analysis and it works on every market. Therefore, even if you trade other instruments than me, I still invite you to follow my blog.
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