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Fibonacci Queen

  #25 (permalink)

Berlin, Europe
 
Trading Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,776 since Mar 2010
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David_R View Post
I think perception is a funny thing. I bought the Carter book, but felt different than fat tails did. I felt that there was some useful information in the book, but for the most part was just a way for Carter to get people interested in his indicators.

Perception is indeed a funny thing. Maybe your perception changes, if we go into details.

Let us first have a closer look at Carter's book. Chapters 1 to 5 are about general trading rules, psychology, hardware and software, market mechanics, gauges for sentiment. Chapters 6 to 16 describe eleven different setups. Out of these only pivots (chapter 7), scalper (chapter 8) and squeeze plays (chapter 10) use indicators offered by TradeTheMarkets. Carter gives all details on the indicators and settings, so you can easily build your own squeeze indicator within a few minutes. Chapters 17 to 21 are again general information.

This is definitely not a commercial book!

Now look at the book of Robert C.Miner: He clearly advertizes his software package Dynamic Trader and the Detrended Oscillator (DTOSC) without disclosing how it works - a huge difference with Carter, who does not hide the details and settings. Carolyn Boroden's book also contains a full chapter "Using Dynamic Trader Time Projections Reports and Histograms".

Actually Carter's book compares to the books of Carolyn Boroden and Robert Miner like a virgin to a fancy lady.

Rassi is not entirely wrong talking about a sales woman. Who else would call herself Fibonacci Queen. I don't think that this is what Fibonacci had in mind, when writing his book "Liber Abaci", and that he'd rather not have that queen.


Last edited by Fat Tails; July 29th, 2010 at 03:57 PM.
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