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Who The Heck Is Leonardo Fibonacci? The Godfather?
By Marybeth Hart
Today, on
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Robert Roger
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No, he's not the godfather and he didn't discover America. And he's not the guy behind the counter at the local Pizza Joint.
He also didn't know about 'Forex Mechanical Trading Systems' in those days, but if he lived today, he would be one of the guys who designed them.
He was a smart guy!
Fibonacci was a well-known ancient Italian mathematician who lived from around 1175-1250. He made great
contributions to the world of mathematics, including introducing the decimal system to Europe.
He also studied a sequence of numbers that has since become known as the Fibonacci Numbers, or
the Fibonacci Sequence.
The Fibonacci Sequence is simple: Start with a 0 and a 1, and each new number is the sum of the two previous
numbers (0 + 1 = 1, 1+1=2, 1 + 2 = 3, 3 + 2 = 5).
The first numbers in the sequence are as follows:
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...and so forth into infinity.
Fibonacci found that these series of numbers and their ratios to one another were prevalent throughout nature
and can in fact be seen all around you.
Ok, ok, so what does this have to do with forex trading?
Well, quite a bit in fact. You see the ratios that are found in the Fibonacci numbers can be seen in the price
movement of currencies as well as stocks and other investments.
I'll give you the big 3 numbers that you should remember: 0.382, 0.500, and 0.618. There are others, but these are the most significant.
These numbers are used to calculate "retracement levels", which are used by many traders to determine when to place buy and sell orders.
Here's how it works:
Assume the price of a currency pair or a company's stock for that matter is trending upward. History shows us that
prices tend to hit a peak, go into a temporary reversal, and then resume the trend. The reversal is where we use the Fibonacci
numbers.
The price of a currency that is trending can be expected to reverse back to one of the Fibonacci numbers and then bounce
back to continue the trend. If you forecast this correctly you can buy in just before the upward trend continues and
score big profits.
The online trading platform you use should be able to chart the Fibonacci numbers for you. You just draw a line from a low point
to a high point, and the retracement levels are automatically mapped on the chart for you.
Of course, its not quite as simple as trading when the price hits a Fibonacci number. There are other things to consider:
You don't know which retracement level the price will stop at. If you choose .382 and it drops to .618 you could lose a ton of pips. However, the general RULE is very easy to remember. You will normal get a fifty percent retracement. (50%) This will sometimes vary to a one-third and sometimes to a two-thirds retracement. Normally, I wait while watching things closely for the 50% and then bail out or jump in - as the case may be. Stick with it, if you have a strong stomach, but at 50% you have made most of your profit, so who cares if you leave a few bucks on the table. Trading is not an exact science, so you do the best you can and hope you end up with positive pips. Any day you walk away with cash in your pocket is a good day!
Similarly, if you choose the wrong low/high points, the retracement levels will be all out of whack.
And quite frankly, as accurate as they can be at times, sometimes Fibonacci numbers just don't work at all. There are many variables
at play in the forex market. You can't rely solely on one method to predict price movement. But, retracements are a given, and should be relied upon.
How much is your call!
OK let's cut to the chase. How about my friend who says: "Trade with the Robots, they are smarter than we are".
The Robots are the Forex Mechanical Trading Systems" They are cheap and even if you are a 'pro', you should have one to check on your trades.
My website has reviews of several including the 'big three'.
Did you find this information on Forex Mechanical Trading Systems useful? You can learn more about how this information can help you on Currency Trading Strategies with reviews on the Robot software programs on my website. Click here: forexcurrencyforex.Com |
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Resume Types And When To Use Them
By Andrew Mullins
There are Three Basic Resume FormatsThe three basic formats of resumes are: Chronological, Functional, and Chronological/Functional combined.The Chronological resume Read more...
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