Saturday, September 18, 2010
The Fibonacci (Fibonacci Forex software) tool has over the years evolved as a stop loss order mechanism where traders use the retracement levels based on the number sequence of this system to increase the profit potential. It helps define position size which is based on the risk one is willing to take on each trade.
Apart from this you can also define objectives and as a pattern emerges when one uses the Fibonacci you can either book profits or use a stop loss. There is a number of software available which works on the Fibonacci principle..
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