neil
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karmit said:
Try this one:
http://www.amazon.co.uk/exec/obidos/ASIN/0471585203/qid%3D1119287881/202-2919943-2717424
ugh! the first review doesn't sound very optimistic :-(
have you read the book and do you follow it?
"
6 of 7 people found the following review helpful:
Informative but essentially nonsense, August 8, 2003
Reviewer: splossy from UK
It doesn't take long to realise that this book is filled with nonsense. Well written nonsense but dangerous nonsense all the same. It is applying a number sequence (the fibonacci sequencee and it's ratios) to random data (movement of the markets). Of course retrospectively and with certain goals in mind, you can make some co-incidental connectiont which, if you are so inclined, will appear to be part of a greater system. But they are not. You could apply ANY number sequence you care to invent and it would also work.
Forget intelligent trading involving some technical analysis and think numerology and astrology. It works on the same principle as the "amazing" Bible Code nonsense. Just look on the net...are there references from top quantitative analysts or major banks? Put it next to your books on crop circles and spoonbending.
If you want to read about the subject then it's a good book. If you are thinking of applying it to your own money then may God help you.
"
have you read the book and do you follow it?
"
6 of 7 people found the following review helpful:
Informative but essentially nonsense, August 8, 2003
Reviewer: splossy from UK
It doesn't take long to realise that this book is filled with nonsense. Well written nonsense but dangerous nonsense all the same. It is applying a number sequence (the fibonacci sequencee and it's ratios) to random data (movement of the markets). Of course retrospectively and with certain goals in mind, you can make some co-incidental connectiont which, if you are so inclined, will appear to be part of a greater system. But they are not. You could apply ANY number sequence you care to invent and it would also work.
Forget intelligent trading involving some technical analysis and think numerology and astrology. It works on the same principle as the "amazing" Bible Code nonsense. Just look on the net...are there references from top quantitative analysts or major banks? Put it next to your books on crop circles and spoonbending.
If you want to read about the subject then it's a good book. If you are thinking of applying it to your own money then may God help you.
"
I think the reviewer has a problem with fibs rather than the book, look at his last comment
"If you want to read about the subject then it's a good book. If you are thinking of applying it to your own money then may God help you".
I read this book a while ago, and it's a good read regarding fibs, that's all it is. If you want a full trading system etc, this won't be it.
"If you want to read about the subject then it's a good book. If you are thinking of applying it to your own money then may God help you".
I read this book a while ago, and it's a good read regarding fibs, that's all it is. If you want a full trading system etc, this won't be it.
forexfighter911
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There's a free ebook available here
http://www.actionforex.com/educatio...cci_trading_ebook_free_download_200509162032/
also they use a lot of fibs in their analysis too.
http://www.actionforex.com/educatio...cci_trading_ebook_free_download_200509162032/
also they use a lot of fibs in their analysis too.
Directional
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karmit said:
this excerpt from the review made me chuckle!
Unified number theorems
In many ways there is not a lot to learn. It is an extension of traditional support and resistance TA analysis, but with natural rhythms and number series thrown in.
Some extend the fib levels with levels based on siginficant numbers e.g. the prices ending in 00, 25, 50 etc.
Some say it is a load of rubbish - this should be relatively easy to test by taking a series of random levels (many charting packages allow you to change the fib levels in any case) and seeing if you get similar levels of success and failure.
For me, being a philosophical type of guy and also interested in number series, I find Fib useful. My interest in numbers started as a child, when interested in chemistry, I came across an old book in my local library that discussed inter-relationships between numbers in different aspects of physics and chemistry. The book was an early and amateurish exploration of the unified theory and I spent some time looking at the mathematics then.
Any way there is no harm in exploring this area and as I said earlier very easy and CHEAP to test.
Natural rhythms is something I might explore on my thread about the release of energy in the trading environment on the psychology site.
Charlton
Karmikarmit said:
In many ways there is not a lot to learn. It is an extension of traditional support and resistance TA analysis, but with natural rhythms and number series thrown in.
Some extend the fib levels with levels based on siginficant numbers e.g. the prices ending in 00, 25, 50 etc.
Some say it is a load of rubbish - this should be relatively easy to test by taking a series of random levels (many charting packages allow you to change the fib levels in any case) and seeing if you get similar levels of success and failure.
For me, being a philosophical type of guy and also interested in number series, I find Fib useful. My interest in numbers started as a child, when interested in chemistry, I came across an old book in my local library that discussed inter-relationships between numbers in different aspects of physics and chemistry. The book was an early and amateurish exploration of the unified theory and I spent some time looking at the mathematics then.
Any way there is no harm in exploring this area and as I said earlier very easy and CHEAP to test.
Natural rhythms is something I might explore on my thread about the release of energy in the trading environment on the psychology site.
Charlton
niceguy777
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Charlton said:
You get both in LEFT Brain Trading, and a whole new spin on how the Fibonacci REALLY works!
Paddington
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Karmit,
there are several organisations which teach various aspects of trading incorporating fib analysis. I'm mentoring with the guys at tradingtutor.com who use fib alot, but they also link that with pattern analysis. There are others if you search.
Good luck!
there are several organisations which teach various aspects of trading incorporating fib analysis. I'm mentoring with the guys at tradingtutor.com who use fib alot, but they also link that with pattern analysis. There are others if you search.
Good luck!
andycan
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depends what you mean by fib
a basic retracements or extension is something any one can do, you dont need books for it.
recognising a relationship in the markets is something very few do for themselves and rather read a book to give them the answer but in reality no book that i know gives you this information
the best approach is to use your point of reference and determine the relationship
whether that involves ABC's structures, 5 waves structures to name but a few
timing, price and time, contractions and expansions of price and times etc
most importantly once you have an understanding of the players and how they work then the measurements are just a formality
a basic retracements or extension is something any one can do, you dont need books for it.
recognising a relationship in the markets is something very few do for themselves and rather read a book to give them the answer but in reality no book that i know gives you this information
the best approach is to use your point of reference and determine the relationship
whether that involves ABC's structures, 5 waves structures to name but a few
timing, price and time, contractions and expansions of price and times etc
most importantly once you have an understanding of the players and how they work then the measurements are just a formality
niceguy777
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andycan said:
You can see how the Elliott Waves work by checking out the Absolute Fibonacci Framework. Basically, the wayes form on the framework which defines the points of resistance.
andycan
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yes waves relating to time or price or bothniceguy777 said:
very handy but that is just one part, not all market, trend by definition,
so waves in the latter situation are redundant, the key is geometric relationships, it is well know that to know the future one must understand the past,
take time as the example, if a market works on the premise of the square and the related cycle is half of the previous cycle (not in sequence it very rarely is) then you can be sure with high certainty that, that particular turning point is not dominant.
now the problem with my comments is to a potential geometer is:-
1/ not all markets are square related, to know you have to look and prove it to yourself.
2/ some markets are geometric others are harmonic, to know this you have to prove it to yourself
3/ some markets are not of the normal geometric variety, i.e fib, root 2 or root 3 again to know you have to prove it to yourself
4/ some markets are prone to have a little of all the above,
but as i have mentioned before in other posts its a matter of perspective, and knowing the players involved in the particular markets you are trading
niceguy777
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andycan said:
Well, it's never seemed quite that complicated to me, and I am not familiar with some of the terms you are using, but if that works for you, that's great!
andycan
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the complexity is in the eye of the beholderniceguy777 said:Well, it's never seemed quite that complicated to me, and I am not familiar with some of the terms you are using, but if that works for you, that's great!
to some it may appear like some complex mathematical model
to others no more difficult than adding or subtracting
naturally you have to understand the rules, that is paramount