Two weeks ago, I was asked to accompany a friend to a free open evening hosted by this company Irish Institute of Financial trading
As a trader I am constantly on the lookout for reliable sources that would enhance my trading and give real value and insight as to how I could achieve independence in my finances. Having spent well over 50,000 Euros on every conceivable course type, from options to stock to EFT and even derivatives .I came to the conclusion that there is only one person that can look after my funds and that is myself There are no quick fixes that I can buy that will make me a professional trader and there are no insider tricks that I am not aware of or that I need to buy in order to become a successful trader. Trading is taking a gamble and almost all of the so called strategies require you to be right first time out in order to make money. Most companies I have dealt with maintain that they have the missing key and all you need to do is pay them to divulge this valuable information that only a very few people have in the market place. Some will contend that their software is the missing link and I have software up to my tonsils ,and I can honestly report back that it is of no use and a complete waste of time .I am of course talking here about the various software packages from Optionetics. (I have bought practically all of their products (Profit source, Advanced Get etc .(But other companies will sell you various versions of the same crap) only to find out that you are stuck with having to pay a yearly sum(currently 700$) to use your own software ,what a rip off ) having paid almost 5,000 $ for it in the first place !
Anyway back to the above evening .I am sorry to report back that this company is no better in fact their sales pitch was advanced on their clam to the possession of Pivot points and these pivot points were the reason there were “different”, According to the presenter they started out as a group of guys trading and they were horrified as to the amount of people coming to them not knowing the basis of trading so they decided to become educators instead !That was enough for me ,but I waited to hear more about these pivot points as in all my years of trading (15years) I had never come across pivot points before. Once the presenter showed us an example of these pivot points I immediately recognized what he was talking about. He was using nothing other than “Fibonacci retracement levels” Here is a video that will explain this concept. But there are hundreds of such videos and each has their own benefits.
you can just cut and past the highlighted text into Google search and you will get a wealth of information there.
I could go on and on from here but I was not impressed with their presentation .I believe that the Individual must take personal responsibility for their own financial destiny
I received this slide presentation from Chris at www.wealthbuildre.ie I believe it is the very least you would need to know if you are contemplating investing in the stock markets .These are the main technical analysis indicators they use http://www.slideshare.net/quigleycompany/introduction-to-stock-market-technical-analysis
Good luck in your trading and remember when in doubt stay out!
A Short Biography of Leonardo Pisano Fibonacci
By Deb Russell, About.com Guide
Fibonacci Sketch by Kristin Palm
Also referred to as Leonard of Pisa, Fibonacci was an Itallian number theorist. It is believed that Leonardo Pisano Fibonacci was born in the 13th century, in 1170 (approximately) and that he died in 1250. Fibonacci was born in Italy but obtained his education in North Africa. Very little is known about him or his family and there are no photographs or drawings of him. Much of the information about Fibonacci has been gathered by his autobiographical notes which he included in his books.
However, Fibonacci is considered to be one of the most talented mathematicians for the Middle Ages. Few people realize that it was Fibonacci that gave us our decimal number system (Hindu-Arabic numbering system) which replaced the Roman Numeral system. When he was studying mathematics, he used the Hindu-Arabic (0-9) symbols instead of Roman symbols which didn’t have 0’s and lacked place value. In fact, when using the Roman Numeral system, an abacus was usually required. There is no doubt that Fibonacci saw the superiority of using Hindu-Arabic system over the Roman Numerals. He shows how to use our current numbering system in his book Liber abaci.
The following problem was written in his book called Liber abaci:
A certain man put a pair of rabbits in a place surrounded on all sides by a wall. How many pairs of rabbits can be produced from that pair in a year if it is supposed that every month each pair begets a new pair, which from the second month on becomes productive?
It was this problem that led Fibonacci to the introduction of the Fibonacci Numbers and the Fibonacci Sequence which is what he remains famous for to this day. The sequence is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55… This sequence, shows that each number is the sum of the two preceding numbers. It is a sequence that is seen and used in many different areas of mathematics and science. The sequence is an example of a recursive sequence. The Fibonacci Sequence defines the curvature of naturally occurring spirals, such as snail shells and even the pattern of seeds in flowering plants. The Fibonacci sequence was actually given the name by a French mathematician Edouard Lucas in the 1870’s.
Fibonacci is famous for his contributions to number theory.
- In his book, Liber abaci he introduced the Hindu-Arabic place-valued decimal system and the use of Arabic numerals into Europe.
- He introduced us to the bar we use in fractions, previous to this, the numerator has quotations around it.
- The square root notation is also a Fibonacci method.
It has been said that the Fibonacci numbers are Nature’s numbering system and apply to the growth of living things, including cells, petals on a flower, wheat, honeycomb, pine cones and much more.
Liber Abbaci (The Book of Calculation), 1202 (1228)
Practica Geometriae (The Practice of Geometry), 1220
Liber Quadratorum (The Book of Square Numbers), 1225
Flos (The Flower), 1225
Letter to Master Theodore