Is It Just Another Fibonacci Trading Software?
Many successful businessmen and traders use a variety of techniques to gain advantage in the stock market. One of the more popular trading secrets that is, well, no longer much of a secret today is Fibonacci trading. Many successful traders have testified that they have gained much advantage in the trading scene because of Fibonacci trading principles. But they also acknowledged the difficulty one has to go through when using the trading technique. Analyzing market trends using Fibonacci analysis can sometimes become very tedious and complex that many traders have abandoned the method. Luckily, there exists today a lot of Fibonacci trading softwares and computer programs that can make this analysis a lot easier. One of the many Fibonacci analysis softwares in the market today is the Fibonacci Trader.
The Fibonacci Trader is a technical analysis charting software that uses Fibonacci principles and Fibonacci trading methods for its analysis. Robert Krausz, a successful trader who takes pride in his 20 years of professional trading experience, developed the software. Aside from Fibonacci trading, Krausz is also an expert in the Gann trading methods and in multiple time frame analysis, two trading methods that are also incorporated in the Fibonacci Trader software.
So, what advantages does the Fibonacci Trader have over the other Fibonacci trading softwares widely available in the market today? Having a deep knowledge and experience in many other trading methods besides Fibonacci, Krausz brilliantly incorporated these various methods as features for the Fibonacci Trader. Therefore, a lot of features present in the Fibonacci Trader cannot be found on other Fibonacci trading softwares. Let us enumerate these features for you one by one (as far as these article would permit, of course).
Multiple Time Frames. The importance of using multiple time frames for analyzing market trends has long been stressed by many professional traders. In the Fibonacci Trader, different trends from three different time frames are plotted in a single chart, making it easy for you to compare them. All time frames exhibiting the same trend indicates greater probability for profit if your trade is in the same direction as the trend.
Indicators. The Fibonacci Trader provides you with more than 150 indicators, most of which are not found in other Fibonacci trading softwares. All of the indicators may be customized using the indicator button or by selecting it from the indicator menu. Aside from the regular Fibonacci indicators, the Fibonacci Trader provides other indicators, most of which are related to Gann swing trading while some are developed by Robert Krausz himself. By incorporating these other methods as exclusive indicators, their strengths are also incorporated in the analysis.
Tools. With numerous tools available, properly plotting market trend projections becomes a lot easier in the Fibonacci Trader. Among the most important tools are the drawing tools, which can be accessed either by double-clicking on the chart or by locating it in the toolbar. FT tools, which are greatly helpful in plotting the resistance and support levels, are also provided in the software. Other tools provided in the Fibonacci Trader are the Plan tools and the updating tools, which allows you to correct erroneous data provided by the software.
System Tester. With the system tester, using the Fibonacci Trader becomes a lot easier. The system tester provides you with a template where you can combine frequently used indicators. The system tester may also be used in developing basic trading procedures. It allows you to put alarms on various indicators that you want to backtest and to provide trading signals.
These are just among the many features that are unique to the Fibonacci Trader. It has a lot more of other amazing features, but space constraints would not allow us to discuss them all. We may not even have presented you the features in a way that will clearly show their advantages. The only way, perhaps, for you to appreciate the Fibonacci Trader is by using it.
The Fibonacci Trader may just be one among the many Fibonacci trading softwares in the market today, but its unique and exclusive features makes it a lot different from the others. The Fibonacci Trader, in itself, may not create an advantage in your trading, but using its numerous features properly for your advantage may create wonders for your trading venture.