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.
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.
• If you’re a new reader, or need a reminder about some of the methods I refer to in my trades, then do have a look at the rest of my introductory videos:
• The essentials of tramline trading
• Advanced tramline trading
• An introduction to Elliott wave theory
• Advanced trading with Elliott waves
• Trading with Fibonacci levels
• Trading with ‘momentum’
• Putting it all together
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