3 of 3 people found the following review helpful
small but wonderful...,
This review is from: Fibonacci Analysis (Bloomberg Market Essentials: Technical Analysis) (Hardcover)
I rarely write a review but this is a must have book, regardless of whether you are trading in the short term or investing for the long term (better entry or exit). I have been trading and investing for about 8 years now and had discounted fibonacci as something which sometimes worked and sometimes didn't but about a year or so ago beggan to take an interest in the works of W.D. Gann and to say the least, it was a turning point and I wished I had the sense to go down that route more seriously a long time ago. For those that dont know, Gann's works talk about ratio's long before the term fibonacci trading was even thought of, and it rekindled my interest in fibonacci. I have many books on the subject but since reading this one I realise that all the other books I have read on the subject are a classic case of "those who cant do make money by writing about it as if they know what they are talking about". I wish I had come across this book years ago. The author is an experienced trader who obviously knows her subject, and writes in an easy to understand manner. Another bonus is that she starts the book by clearly showing how and why so many people mis-understand how to use fibonacci ratio's, and why they get the wrong results. It isn't a big book but it's packed full of information. As to whether it has made a difference to my trading, I would have to say that yes it has. I now have a much better understanding of where my resistance, support, entry levels, etc are, but more importantly, I know WHY certain levels are important and how to react.If you are serious about trading profitably, I cannot recomend this book enough.