Mar 03
The Fibonacci number pattern was developed by Leonardo Fibonacci sometime around 1200 AD. For inexplicable reasons, these numbers play a meaningful role in the technical analysis of financial markets. Four main Fibonacci indicators: Fibonacci Fans, Fibonacci Retracements, Fibonacci Time Retracements and Fibonacci Arcs.
News link: here
March 3rd, 2009 at 7:50 am
Sure, believe that as chartists make a killing.
March 3rd, 2009 at 7:50 am
price is the only real indicator that you can have definite proof of. stockta.com is a pretty good technical analysis site to take a look at once you get done with picking up some basics. It has some information that a lot of other charts don’t cover too often like fib numbers, MACD, stochastics, resistance and support lines, etc.Technical Analysis has made too many people and too many companies enough money to simply be written off at a whim while not showing any evidence to the contrary.
March 3rd, 2009 at 7:50 am
Toadster tell that to Jim Simons, the MULTIBILLIONAIRE that runs the worlds best performing hedge fund since 1988.”Renaissance Technologies is a private investment management company with over $4,000,000,000 under management founded in 1982 by Jim Simons, who (correctly) believed in the potential of technical trading models.”returning 35% a year to clients AFTER his fund takes a 5% managing fee and 44% of earnings. Thats right he returns over 60% a year on a billion dollar fund, and he believes in technical analysis.Just imagine how much more he could return if actually had a strategy that works, right toad?. turtletrader.com/trader-simons.html
March 3rd, 2009 at 7:50 am
I have proven technical analysis is a sham. In most cases the common indicators have a 50% plus/minus 5% accuracy. One day I’ll write a paper on it.
March 3rd, 2009 at 7:50 am
and I suppose on that day you’ll disprove the millions that have all apparently gotten lucky with TA?
March 3rd, 2009 at 7:50 am
Let’s see actual proof that TA works. Maybe Simons uses fundamentals and claims it’s TA? Someone has to buy at the top in order for people to make money. The people that buy at the top are probably using TA.
March 3rd, 2009 at 7:50 am
@toadsterWhy slam TA down so hard? Fundamentals, Technical Analysis etc, all have their credibilities over the years. Take for example the simple candlestick, the history of its use clearly shows a trust in such methodology. I’m not saying TA rules because I believe it’s always best to know what your aim is (eg. long term / short term) and use the appropriate tool or combination of tools for it.
March 3rd, 2009 at 7:50 am
Actually, Renaissance is more a quantitative fund than a technical analysis fund.Also, the work of Andrew Lo @ MIT is a pretty credible source that TA works to some level.
March 3rd, 2009 at 7:50 am
easy-forex.com/Gateway.aspx?gid=21560
March 3rd, 2009 at 7:50 am
i think for beginner its better to use EA just stick one indicator and one pair.Thank for sharing your idea. sosuav3.blogspot.com
March 3rd, 2009 at 7:50 am
StockTA gives technical analysis a bad name. It has its uses, but as mentioned, you shouldn’t look at it as a beginner to TA. Otherwise, you’re just looking for a bunch of green BUY signs.
March 3rd, 2009 at 7:50 am
It seems like any method of predicting stock prices without looking at fundemental values must become ineffective once the majority of traders become aware of it. If everyone uses the same method to determine that a stock will go down on October 15th, and decides to sell on October 14th; then the stock will go down October 14th. If everyone anticipates that it will go down on the 14th because of the widespread use of this method, and decides to sell on the 13th…The only way to make money beyond the growth and profitability (fundamentals) of a company is to buy when most people want to sell and vice versa. So no popular or trendy form of analysis can work, even if it is accurate, unless you’re in on it early. By the time it hits the digg front page it’s probably too late.
March 3rd, 2009 at 7:50 am
Nice article for beginners (like me).Can anyone identify the software used for the screens?cumps
March 3rd, 2009 at 7:50 am
Indeed.. I agree this is a great article for beginners! Awesome.. Digg for you.
Somehow, if you ever wanted to know everything about trading.. you may find it here at my blog: options-university.biz/blog/forex-optio …Hope it helps.Trade Smart. Not Often.Tanady
March 3rd, 2009 at 7:50 am
You will never see proof that TA actually works because the ones who have figured out how to use it properly simply will not share.Like goldcoin said,once the majority of traders are aware of a certain profitable trading method, the market will simply readjust and render it useless.From experience, I will tell you that TA does actually work, but TA alone will do you no good. I make a living as a forex day trader, and if I could give out only one piece of crucial information to help someone become a successful trader, i would tell them that the most important quality a trader must have to become successful is good money management.
March 3rd, 2009 at 7:50 am
I have been trading with JCL’s Forex Trading Group for 1 1/2 half and we only use Technical Analysis for our trading as the charts always price in all fundamentals.Bottom line is I make very good money, jcls-forex.com/ and Technical Analysis works very well!
March 3rd, 2009 at 7:50 am
Nice guide. officiallyforex.com
March 3rd, 2009 at 7:50 am
I have also picked up some good forex trading strategies at lazyforex.com
March 3rd, 2009 at 7:50 am
A very good place for forex systems review: advancedtradingsystems.com
March 3rd, 2009 at 7:50 am
It is not about the market analysis, but more about self analysis. How you react to the market is the most important part in trading. Read more article about this at moneyceo.blogspot.com
March 3rd, 2009 at 7:50 am
What about forex robots like these ones pietsestroku.info and uvrenbroomop.info
March 3rd, 2009 at 7:50 am
Fibonacci has its value in the forex, but the problem always starts with where to anchore the retracement and where to end the retracement. fxpnf.com
March 3rd, 2009 at 7:50 am
I think it’s all depends on your analysis details and how you interpret them. optionsuniversityblog.com
March 3rd, 2009 at 7:50 am
Can i put this method on my forex blog: the-forex-tracer-review.blogspot.com
March 3rd, 2009 at 7:50 am
Why don’t you guys try this guys out, I have been trading with them for some time now using the virtual account. Financial Fixed Odds… betonmarkets.com ,it allows traders to speculate on the movement of the worlds’ major financial markets, up down or sideways without actually owning the market, stock or currency you are buying.
March 3rd, 2009 at 7:50 am
If you like forex and Digg you may want to check out the first and only forex Digg style website: fx-bar.com
March 3rd, 2009 at 7:50 am
I always liked the Fibonacci stuff. free-press-release.com/news/200809/1221 …
March 3rd, 2009 at 7:50 am
if you like Fibonacci stuff check this one out…there is a series of videos you can search and watch how over 1100 pips were made in just one week, trading few minutes a day… youtube.com/watch?v=L_VBK6lLECo
March 3rd, 2009 at 7:50 am
Technical Analysis does work, check out this video done live during trading hours … shows step by step how to place swing trades profitably using Fibonacci, Support Resistance, Candlestick Patterns… youtube.com/watch?v=L_VBK6lLECo
March 3rd, 2009 at 7:50 am
learn about currency trading at sunburstraces-certificates.org
March 3rd, 2009 at 7:50 am
I have also picked up some good forex trading strategies at finance.varolmak.com/
March 3rd, 2009 at 7:50 am
I have tried and tested mnany many forex ea’s and the only on that has been profitable for me has been the new FAP Turbo.You can check it out here if you are interested: fapturboreview.org
March 3rd, 2009 at 7:50 am
Prices only change with fundamentals & market sentiments.
March 3rd, 2009 at 7:50 am
This is very nice guide for me.Best regards, guidestoforextrading.blogspot.com
March 3rd, 2009 at 7:50 am
StockTA gives technical analysis a bad name. It has its uses, but as mentioned, you shouldn’t look at it as a beginner to TA. Otherwise, you’re just looking for a bunch of green BUY signs.Why don’t you guys try this guys out, I have been trading with them for some time now using the virtual account. Financial Fixed Odds… betonmarkets.com ,it allows traders to speculate on the movement of the worlds’ major financial markets, up down or sideways without actually owning the market, stock or currency you are buying.I love the forex I trade with it everyday and my tips on alldaforex.ru
March 3rd, 2009 at 7:50 am
Forex Trend SystemsVisits: forextrendsystems.blogspot.com
March 3rd, 2009 at 1:08 pm
Fibonacci is both powerful and easy to learn. See many educational examples posted here;
http://www.traderzine.com/forums/forumdisplay.php?f=4
August 30th, 2009 at 5:33 am
You made some good points there. I did a search on the topic and found most people will agree with your blog.