VOODOO TRADING
Voodoo trading could add a lot to your bottom line. W.D. Gann, R.N. Elliott and other cultists spent years studying the market's mystical side, trying to figure out how obscure ideas could tap hidden profits. Magic numbers, astrological dates and prayer wheels have all been enlisted in the search for that elusive trading edge.
Most traders believe Fibonacci fits in the category of market witchcraft, but this arcane science has a basis in fact. A 12th century monk known as Fibonacci discovered a logical sequence that appears throughout nature. Beginning with 1 + 1, the sum of the last two numbers that precede it creates another Fibonacci number. For example: 1+1=2, 1+2=3, 2+3=5, 3+5=8, 5+8=13, 8+13=21, 13+21=34, 21+34=55, etc.
Most traders believe Fibonacci fits in the category of market witchcraft, but this arcane science has a basis in fact. A 12th century monk known as Fibonacci discovered a logical sequence that appears throughout nature. Beginning with 1 + 1, the sum of the last two numbers that precede it creates another Fibonacci number. For example: 1+1=2, 1+2=3, 2+3=5, 3+5=8, 5+8=13, 8+13=21, 13+21=34, 21+34=55, etc.
posted by Gordengekko at 9:33 AM
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