The New Fibonacci Trader by Robert Fischer is one of my all-time favourite trading books which I have used to manually extract profits from the forex market for years. I like the concepts in the book so much I also created a number of outstanding EAs because who wants to be sat in front of a screen manually trading 12 hours a day, 5 days a week?
You can find out more about these TNFT EAs here: https://www.mql5.com/en/market/product/34958
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. The New Fibonacci Trader by Robert Fischer outlines a powerful arsenal of Fibonacci trading tools to recognize patterns, predict swings, and buck the trend-so you can achieve the highest rate of profitable trades.
The New Fibonacci Trader’s examines 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.
The New Fibonacci Trader shows you how to effectively apply Fibonacci trading tools
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 forex. 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 series of EAs calculate key turning points in the markets, analyze market cycles, and make disciplined and profitable trading entries.
MANUAL TRADING EXPERIENCE MATTERS WHEN BUILDING EAs: https://www.mql5.com/en/forum/179446