fibonacci

A Book Review – “Harmonic Trading – Profiting from the Natural Order of the Financial Markets” – volume 1 by Scott M. Carney

There are various opinion currents in the technical analysis. One of the recent ones appeals to the natural order of the markets and to uncovering patterns which appear from time to time. This approach to technical analysis does not try to find models where there is none. Rather the natural order trading is trying to catch patterns as they emerge and ride them for the benefit of the trader. These things said, “Harmonic Trading – Profiting from the Natural Order of the Financial Markets” is a book which uncovers several such patterns for the benefit of the trader.

Scott Carney, founder and president of a company called (surprise surprise) “Harmonic Trading”, has studied quite a long time these patterns. His experience started with the Fibonacci approach, a trading method which uses the Fibonacci numbers to predict the most probable incoming price levels. This is a probabilistic approach and, like all the methods based on probabilities, it chases patterns where over the long term you are more likely to offset losses with your gains (rather than the other way around). Read More »A Book Review – “Harmonic Trading – Profiting from the Natural Order of the Financial Markets” – volume 1 by Scott M. Carney

Book Review – “Forex on Five Hours a Week: How To Make Money Trading on Your Own Time” by Raghee Horner

Lately I have been reading many forex trading books, trying to climb quickly the steep learning curve necessary. Necessary to transform this into a full time occupation. In the beginning I thought it was easy, as most of the beginner traders think. Just read a couple of books and test a bit the platform for trading forex pairs, no matter what it is: Metastock or metatrader or other proprietary platform. They all looked the same and the methods seemed easy. Manage your risk, manage your emotions, play with technical indicators and your life will become soon easy and flowing.

Read More »Book Review – “Forex on Five Hours a Week: How To Make Money Trading on Your Own Time” by Raghee Horner

The Adventures of a Trader in the Forex Land (3)

Here we go further with our forex blog here, on doitinvest.com. The forex trading insight of today’s blog is quite simple – I found out a rare pattern which could be interesting for  the amateur or professional money makers.

I was looking recently on my IPhone on the EUR to USD (EURUSD) pair. Although I do not trade it, the EURUSD is the most traded pair on earth, so it meets the criteria for perfect trading – high volatility, liquidity, accessibility 24 hours. For me, the EURUSD is like the master market for the online trading, so naturally I look at it periodically.Read More »The Adventures of a Trader in the Forex Land (3)