Have you Heard of Fibonacci Forex Trading

[milkymo]

Fibonacci foreign exchange trading is the basis of lots of foreign exchange trading systems used by a great number of professional foreign exchange brokers around the globe, and lots of billions of dollars are profitable traded every year based on these trading techniques.

 

Fibonacci was an Italian mathematician and they is best recalled by his world famous Fibonacci sequence, the definition of this sequence is that it’s formed by a series of numbers where each number is the sum of the one earlier numbers; 1, 1, 2, 3, 5, 8, 13 ...But in the case of money trading what's more important for the foreign exchange trader is the Fibonacci ratios derived from this sequence of numbers, i.e. .236, .50, .382, .618, etc.

 

foreign exchange trading can greatly benefit from this mathematical proportions due to the fact that the oscillations observed in foreign exchange charts, where prices are visibly changing in an oscillatory pattern, follow Fibonacci ratios closely as indicators of resistance and support levels; possibly not to the last cent, but so close as to be fabulous.

 

These ratios are mathematical proportions prevalent in lots of places and structures in nature, as well as in lots of artificial creations.

 

Fibonacci cost points, or levels, for any foreign exchange money pair can be calculated in advance so that the trader will know when to enter or exit the market if the prediction given by the Fibonacci foreign exchange day trading system they makes use of fulfills its predictions.

 

lots of people tries to make this analysis overly complicated scaring away lots of new foreign exchange traders that are beginning to understand how the foreign exchange market works and how to make a profit in it. But this is not the way it's to be. I can’t say it’s a simple idea but it is understandable for any trader four times they or he's grasped the basics and has had some practice trading using Fibonacci levels along with other secondary indicators that will help to improve the accuracy of the entry and exit point for every particular trade.

[t2t]

I have heard about it but not much info if the robot is correct 80percent of the time. Do you know much about it?

[PROPENSITY100]

This was a informative post for beginners in Forex trading regarding Fibonacci. Many good Forex trading systems are based on Fibonacci techniques and many experts use it. I also use techniques like Fibonacci retracement to make my trading decisions.