Please, never pay for Fibonacci Software you can find it FOR FREE!
Using Fibonacci Indicators to improve your trading is one of the best things that you can do. First a little about the history of Fibonacci, he was was a mathematician that discovered the Fibonacci number system. Over time, the system was found to be in natural recurring patterns that happen over and over again in nature; there are certain amounts of pedals on a flower, the way a leaf is arranged, even the number of scales in pineapple.
You can apply patterns to everything in your life, have you heard of the adage that history repeats itself? Empires rise and fall under the same principles over and over again.
The stock market is no different, the same things happen over and over again. What we do is identify patterns in the market that repeat themselves making our odds significantly higher. The fib retracements and extensions are the same patterns that Fibonacci applied to nature, except now we are applying them to the stock market.
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- Fibonacci Retracements & Extensions
Using Fibonacci techniques and strategies to improve your day trading can be extremely effective if you learn how to use it properly. There are several different ways that you can use the Fibonacci principles in your day trading. Most people use Fibonacci indicators as support and resistance as a “where to go” and “where the market is going to pivot” type system.
The very first day trading software I purchased had fancy Fibonacci support and resistance areas, after giving away $7,000 of my hard earned money, I realized a few years later you can actually find the same indicators online for free. I have been day trading with my own day trading strategy close to 10 years now. I do coach others to help them make money in the stock market, sign up for my newsletter for more updates (or just look at the income statements and see how our day traders are doing)
Using Fibonacci Indicators to Anticipate The Market
There are tools that you can find that will allow you anticipate where the market will pull back to and where the market will head to as well. You can use these tools to maximize your trading results and also minimize your risk as the market. I use these tools specifically in my day trading strategy for well over 6 years, they are called extensions & retracements.
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Fibonacci support & resistance
Using Fibonacci as Support & Resistance Areas
There is also day trading software found on the market where the software system will automatically plot support and resistance areas for you. Having bought a system like this when I first started day trading I can tell you that you can find the support and resistance areas on your own without any special software. In addition to that, most Fibonacci indicators come free with any standard day trading software system.