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The New Fibonacci Trader Tools and Strategies for Trading Success
ISBN: 0471419109     Date Published: 2001-10-12     Author(s): Robert Fischer, Jens Fischer
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352 Pages
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Editorial Review - Book Description:

Powerful new strategies and tools from the leading exponent of one of today`s most important trading tools

With his bestselling Fibonacci Applications and Strategies for Traders, Robert Fischer established himself as the leader in the Fibonacci approach to trading. This new workbook offers a powerful new arsenal of tools, using step-by-step exercises. Fischer carefully delineates techniques for combining his strategies into precise, reliable, well-disciplined trading tools that enable traders to take advantage of naturally occurring and recurring patterns.

From the Inside Flap
With his bestselling Fibonacci Applications and Strategies for Traders, Robert Fischer established himself as the leader in the Fibonacci approach to trading. Moving beyond the old Fibonacci trader, who had the ideas, rules, and tools on paper, Fischer, with son Jens Fischer, now use computer graphics and calculation technology along with new Fibonacci tools to successfully trade the markets in The New Fibonacci Trader.

In trading the markets it’s important to know what to buy, but it’s even more important to know when to buy. Accurately measuring price and time signals are one of the best ways you can do this. Now, this groundbreaking book and CD-ROM provide a powerful new arsenal of Fibonacci trading tools and software–WINPHI–to recognize patterns, predict swings, and buck the trend–so you can achieve the highest rate of profitable trades.

A quick recap of the core principles of Elliott Wave Theory and Fibonacci Ratio are discussed to present an overall framework for The New Fibonacci Trader. From here, Fibonacci expert Robert Fischer gets to the heart of the concept by examining six geometrical Fibonacci trading tools:

  • Fibonacci Summation Series: to capture the rhythm of annual market swings
  • Corrections and extensions: trading with and against the main trend
  • PHI-channels: as indicators for market trend changes
  • PHI-ellipses: to identify underlying structures of price moves
  • PHI-spirals: to identify trend reversals in the market
  • Fibonacci time goal analysis: that use the ratios 0.618, 1.000, and 1.618 to anticipate the exact day, in time and price, a trend will change direction.

Along with helpful charts and graphs, The New Fibonacci Trader shows you how to effectively apply Fibonacci trading tools by using state-of-the-art WINPHI software, which is included in the companion CD-ROM.

Used individually or in concert, Fibonacci trading/analysis tools can provide the foundation for sophisticated trading strategies. These concepts are valid for volatile and marketable individual stocks worldwide, and are not just limited to the trading environment of the United States. In both bull and bear market conditions, these concepts work equally well. Many of the tools outlined can be applied to monthly, weekly, daily, or even intraday charts.

Whether you’re dealing in stocks, futures, or cash currencies, The New Fibonacci Trader will help you calculate key turning points in the markets, analyze market cycles, and make disciplined trading possible and profitable.

Customer Review:
Total Reviews: (6)
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51 of 54 People found the following review helpful.

Another useless investment teaser book!, April 9, 2004 Bysocrates964 "socrates964" (SÃO PAULO, SP Brazil) - See all my reviews This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover) I'm tempted to start writing what I call 'investment teaser books' - investment books that claim to introduce new concepts, set the scene, don't deliver anything and are essentially just adverts for the author's website. These books are almost invariably useless, although I occasionally buy them by mistake because I order them over the Web without looking at a copy before hand.Anyway, this is an EW-inspired 'teaser book', that basically offers new ways of torturing raw data so that it fits spirals/channels/ellipses. For example, the author tells us that you can always draw an elliptical envelope around short term trends. You never quite know how long the price is going to stay in that ellipse, but if it breaks through the ellíptical wall, then, have you guessed? That's right, time to start carefully drawing the next ellipse. Sometimes, prices are in two ellipses at once. The problem is that you never quite know whether you've got the right ellipse, because the authors...
20 of 21 People found the following review helpful.

Practical Fibonacci Tricks v Guesswork, July 17, 2003 ByW. G. Tom (Mtn. View, CA United States) - See all my reviews This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover) If you wanted a countertrend method for trading and like to add Fibonacci shapes, this is the book. While wave counts are certainly important, the book gives confirmation for wave counts by either Fibonacci summations or time goal ratios to confirm your current wave. There is no guarantee actual price will comply, but then any pattern trade should have no guarantee either--pennants, head and shoulders, etc. Worth a look if you are looking to add another trick to the bag of trading strategies. Also, work the examples so you will see the author actually losses money on some trades using this strategy and makes money in others. Looks like the author has integrity and some honestly because he presents the frequency of trades, success/failures, profit/loss, and graphs to confirm his trades.
20 of 23 People found the following review helpful.

1 - 1 - 2 - 3 - 5 - 8 - 13 - 21 - 34 - 55 - 89 - 144 -, May 2, 2002 By A Customer This review is from: The New Fibonacci Trader: Tools and Strategies for Trading Success (Hardcover) Easily written for everybody to understand, no filler talk and repetition. Covers PHI channels, spirals and ellipses. Fib summation, corection/extension and time goal analysis. However, this book does not offer a fully automated trading models...
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