This is a chart taken from one of our competitors web sites. They promote the use of Fibonacci Fans and infer that by using them you will be able to discern future price movement with pinpoint accuracy.

Albeit Fibonacci values do have a place in FOREX trading.

These values can assist in calculating future price extensions. Its just how far out in the future? You may have to wait 1 month or more for the objective to be fulfilled. Be aware Fibonacci values are extremely difficult to use when trading smaller time frames.

What if you only want to trade a few hours a day?

When comparing programs. Please ask these question.

1. Can they trade what they depict live and in front of you? This chart represents 3 months of price activity.
2. Can they tell you where price is going today?
In other words. Simply by plotting these values on old charting data does nothing for you today or more imporatntly in the future.
3. What is the average length of time spent in a trade?

Be aware you may not have the time or capital necessary to monitor a position for this length of time?

I encourage you to attend one of our free live trading webinars. We had 2 live trades in our session on Aug 1st.

  Register for a live demonstration