i want to learn forex trading.

We will be using Fibonacci ratios a lot in our trading so you better learn it and love it like your mother’s home cooking.

Fibonacci is a huge subject and there are many different Fibonacci studies with weird-sounding names but we’re going to stick to two:

retracement and extension.Let us first start by introducing you to the Fib man himself…Leonardo Fibonacci.

No, Leonardo Fibonacci isn’t some famous chef. Actually, he was a famous Italian mathematician, also known as a super duper uber ultra geek.

He had an “Aha!” moment when he discovered a simple series of numbers that created ratios describing the natural proportions of things in the universe.

The ratios arise from the following number series: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 14This series of numbers is derived by starting with 0 followed by 1 and then adding 0 + 1 to get 1, the third number.

Then, adding the second and third number (1 + 1) to get 2, the fourth number, and so on. forex trading

After the first few numbers in the sequence, if you measure the ratio of any number to the succeeding higher number, you get .618. For example,

34 divided by 55 equals .618.If you measure the ratio between alternate numbers you get .382. For example, 34 divided by 89 = 0.382 and

that’s as far as into the explanation as we’ll go.These ratios are called the “golden mean”. Okay that’s enough mumbo jumbo.

With all those numbers, you could put an elephant to sleep. We’ll just cut to the chase; these are the ratios you HAVE to know:

You won’t really need to know how to calculate all of this. Your charting software will do all the work for you.

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Besides, we’ve got a nice Fibonacci calculator that can magically calculate those levels for you. However,

it’s always good to be familiar with the basic theory behind the indicator so you’ll have the knowledge to impress your date.