Fibonacci Trading: How to Master the Time and Price Advantage

by Carolyn Boroden

Book Overview

Made famous by the Italian mathematician Leonardo De Pisa, the Fibonacci number series holds a Golden Ratio that is universally found in nature and used by architects, plastic surgeons, and many others to achieve "perfect" aesthetic proportions. Now, in this groundbreaking guide, noted technical trading advisor Carolyn Boroden shows you how Fibonacci pattern studies can be used as an extremely effective method for achieving greater profitability...

• Format: Hardcover
• Language: English
• ISBN: 007149815X
• ISBN13: 9780071498159
• Release Date: March 2008
• Publisher: McGraw-Hill Companies
• Length: 320 Pages
• Weight: 1.71 lbs.
• Dimensions: 1.0" x 8.3" x 9.1"

Customer Reviews

My Mentors Recommended

I’ve been looking for this book and happened to find it for an amazing price! The fib queen is the one who trained my mentor Christopher Terry. He traded and managed peoples accounts in New York. I’m excited to dig into this book and add it to my collection and knowledge.

Great book

Great book! The Fib Queen Carolyn Boroden has produced a top notch peice of work. I was impressed with the number of charts and the explanations she included in the book. When you are trying to learn how to interpret charts, you can only do it through repition. Seeing many different charts in different time frames really gives you that visual aid that you need in a book like this. I highly recommend this book. I would also recommend High Probability Trading Strategies by Robert Miner. I would recommend to you that you read the book by Robert Miner first and then read this book by Carolyn Boroden "AKA the Fib Queen". Mr Miner takes you through the basics and Carolyn fills in the gaps and helps refine your technique.

The Real World of Trading

In the world of trading, Fibonacci is bandied about as something mystical. It is often oversimplified. Boroden clearly shows the practical application of Fibonnaci time and price strategies in clearly illustrated examples from very short term day trading to longer term position trading. I've been trading 20+ years and used similar techniques taught in the book for most of that time but still I learned something new. There is no way every reader who is actively trading isn't going to get some very useful practical trading strategies from this book. Highly recommended.

intermediate level.-great bookfrom the fibonacci queen herself

I think some of the other reviewers are a bit harsh when considering this book. It presents a great trading methodology in and of itself. I was already familiar with fibonacci trading and trading convergences already but this book added a great deal to my trading knowledge. I use many of her methods and subscribe to Carolyn's free e-mails and have learned a lot from her. I use the lower level charts from hourly down to the 5 minute and this method works like a charm. Anyone wanting to learn the basics of fibonacci can easily learn it free doing searches on the internet. Add this book and it just gets better. I would like to have the dynamic trader software for the time aspect but still manage to use my charts from FXCM with her methods. This book will greatly add some sound methodology which will add tics or pips to any traders game. Most people do not understand nor want to hear trading is not easy, takes a great deal of pain and hard work to get right. After you learn the methods 90% of trading is self-mastery with 90% of the latter being patience. Having an ability to get up after repeatedly failing and falling flat on your face also helps. If you are looking for a get rich quick scheme, hitting home runs, doing minimal work, and have a low tolerance for frustration then good luck Pal because you are guaranteed to fail at trading...I highly recommend this book without reservation but honestly you owe it to yourself to learn as much about the market as you can because that is what it will take to succeed...that and endurance. Never Give UP!

Wow. Smart, well-written, great charts. A money-maker for traders.

This book has everything you need to get started in applying the Fibonacci method to futures and commodities trading analysis. I'm still entry-level in trading and feared this would be over my head, but the charts and graphs are helpful and the tone is accessible. I've already read it twice and constantly refer back to it as I work. It takes a commitment (all of trading does), but I have already begun to experience true results where it counts with this guide. It has really refreshed my game.

FINALLY A NEW TAKE ON FIBONACCI TRADING

To start off I would like nothing more than to take this golden nugget of a book and lock it up never to be seen by anyone except for me, but alas I feel it a duty to give an honest review on what I believe to be a great NEW take on fibonacci trading. I use the term NEW loosely, it's new to most traders because I've never found anyone who teaches what Carolyn covers in depth here, and I feel it offers more value than all the other fib systems that have been around for years. I've had the pleasure of meeting the author at a seminar in Los Angeles back in Feb 08, and if I have ever seen anyone working their butt off putting their system to the test on a daily basis it was Carolyn(and no I dont work for her). It was simply amazing to see this method which I had not tried or heard about(I've been trading over 9years) of applying fibonacci levels overlapping each other to confirm setups for potential trades, symmetry setups and time and price confluence and cycles creating a robust set of tools for improving ones trading results. And her results were phenomenal, the prices would react like magnets on the charts she had clusters layed up on, I don't know how else to put it other than impressive! One of the great things about this book is that it's full of charts on almost every page, with a topic like this its nice to see plenty of visual elements to keep you focused on the material being taught, the writing is clear and concise and even though most people will doze off when reading trading books the information is to the point, enough to keep you awake and plugging away at it. Believe me financial books are the number one cure for insomniacs!!!! I have to say in my opinion this book is not for a total newbie to trading, it would help if you've at least read one or two other books on trading(not investing) or chart reading, because this books is clearly focused on applying Fibonacci techniques to your trading, its not an intro book on how to trade. One thing to note, she is using a specialty program to draw her charts, thats not available on any trading platforms(I use TradeStation,Omnitrader) or charting websites. So if you want to draw it the way she has you many consider purchasing the program, it may be a good investment in your trading career, or you could always sign up to her Trading Room where she does all the work for you. I truly believe using whats taught here is a great set of tools to add to any strategy or system to improve your probability of having winning trades, and I am glad she chose to share her knowledge and expertise to help more traders find success.!