Welcome to my latest spread betting video tutorial. This week, I want to deal with the basics of Fibonacci theory - I will explain some more advanced methods in a later video.
Fibonacci was an Italian mathematician born almost 750 years ago. And it's quite remarkable that the theory he developed in the 13th century is still used today to give us insights into the growth and decay of natural systems - such as financial markets.
Fibonacci theory can be a very powerful tool. It can give you vital information on where to enter a trade when trading in the same direction as the prevailing trend. Instead of guessing where to get in to a trade, can give you fairly precise entry points in advance.
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In this video, I will explain:
What Fibonacci theory is; How to use the Fibonacci tool in your spread betting platform; Some basic ideas you can use right away in your own trading.
And if you haven't seen them yet, or you would like a refresher, do take a look at my other video tutorials.
John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.
He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.
As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.
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