Fibonacci and Gann Applications in Financial Markets: Practical Applications of Natural and Synthetic Ratios in Technical Analysis (Wiley Trading) 
asked by james58 on November 23, 2006 4:41 PM
There are many books covering Fibonacci from an artistic and historical point of view and almost as many suggesting that Fibonacci retracements and numbers can be successfully applied to financial market time series. What is missing is a book that addresses the common errors in using screen based Fibonacci (and Gann and other tools).
The book is a critical exploration of Fibonacci numbers, retracements, projections, timeframes and fanlines and their current usage within the financial markets by technical analysts. Although they can be extremely effective analytical tools when used appropriately, mistakes in usage can be extremely costly from a financial and credibility viewpoint. George MacLean takes a brief look at the history of Fibonacci and Gann, before providing a full account of their applications in financial markets, including fixed income, equity, foreign exchange, commodities and indexes. In particular, he draws attention to the overuse and misuse of easily applied computer packages available to professional and amateur traders.
Reviews
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I would be ashamed of this sort of books. The charts quality is poor, the chart are not prepared for the book at all, no text labels on important levels, dates are not visible, not clear how the line are drawn (from where to where) etc..
As for text content it is equally shameful. 3 chapters are devoted to moaning how good it was in the olden days when everybody drew chart on a paper, when prices where not decimal, when people stored historical quotes for decades and so on. It warns the reader not to use fibonacci and gann techinques very often (???). But there is no manual on where and when does anybody have to use it.
The book doesn't outlay any technique or theory at all. No definitions, no explanations, no rules. Just going throught some examples with very lousy explanations and which are useless without proper charts. I cannot imagine anybody benefiting from this book at all. So, even 1 start would be somewhat excessive.
As for text content it is equally shameful. 3 chapters are devoted to moaning how good it was in the olden days when everybody drew chart on a paper, when prices where not decimal, when people stored historical quotes for decades and so on. It warns the reader not to use fibonacci and gann techinques very often (???). But there is no manual on where and when does anybody have to use it.
The book doesn't outlay any technique or theory at all. No definitions, no explanations, no rules. Just going throught some examples with very lousy explanations and which are useless without proper charts. I cannot imagine anybody benefiting from this book at all. So, even 1 start would be somewhat excessive.
reviewed by allnet on November 27, 2006 9:51 PM
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If you want to buy the book, go ahead, just be careful of superbookdeals, they take your money but don't deliver and don't answer emails. Caveat Emptor.
reviewed by imtheboss on November 29, 2006 1:11 AM
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A very poor book, a waste of money..
Maybe a newbie can find some usefull information inside, but nothing new or awesome interesting.
The same things are (and better explained) in other titles not so expensives.
Gann part maybe may be will came in "Fibonacci and Gann Applications in Financial Markets Part 2", because in this books just are some graphics examples and a few explanations (the CD has the same graphics).
Is like the author wants to show you a collection of nice graphics and good examples.
The Gann chapter jumps into the charts with applied thechniques without one explanation about itýs tecniques.
Better to you, keep searching for another one...
Maybe a newbie can find some usefull information inside, but nothing new or awesome interesting.
The same things are (and better explained) in other titles not so expensives.
Gann part maybe may be will came in "Fibonacci and Gann Applications in Financial Markets Part 2", because in this books just are some graphics examples and a few explanations (the CD has the same graphics).
Is like the author wants to show you a collection of nice graphics and good examples.
The Gann chapter jumps into the charts with applied thechniques without one explanation about itýs tecniques.
Better to you, keep searching for another one...
reviewed by caramel on November 29, 2006 1:36 PM