Released on = February 19, 2006, 6:32 am

Press Release Author = Metatrader-Tools.Com

Industry = Accounting

Press Release Summary = Pisan Fibonacci has been dead for 300 years yet modern day
traders of the Forex (foreign Exchange) market, still apply his methods daily as
they trade Yen for Euro\'s and Aussies for dollars.

Press Release Body =
Forex Traders profit from Dead Italian Mathematician


The forex (foreign exchange) market is the largest trading market in the world,
estimated at 1.8 Trillion dollars daily; it dwarfs the next competitor,The New York
Stock Exchange (NYSE) by 2 to 1 in the dollar per day turnover stakes.
It is the modern day warrior battlefield and from lone day traders to the largest
investment institutions and probably your local main street bank, all are playing this
24 hour, 5 day a week market and many are using the mathematical formula's of a
long dead Italian mathematician called Leonardo Pisano, (c. 1170 - Pisa, 1250),
nicknamed Fibonacci to improve their profits.

Leonardo Fibonacci became a world renowned mathematician at the age of 32 publishing
a book called Liber Abaci, or Book of Calculation. Amongst other things this book
outlined
the Fibonacci number sequence, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. etc, which was
originally introduced to solve a problem in relation to the growth of a population
of rabbits.

Of major importance to this sequence of numbers where every next number is the sum
of the proceeding two, 0, 1 (0+1), 2 (1+1), 3 (2+1), 5 (3+2), 8 (5+3), 13 (8+5), etc is
the \"Fibonacci ratios\", derived from comparing the relationship between each number and
each alternate number, and even each number to the one four places to the right. By
doing
this we arrive at some fairly consistent ratios.
The important ones are .236, 50, .382, .618, .764, 1.382, 1.618, 2.618, and 4.236

It turns out that the ratios are mathematical principles prevalent in nature around
us, and is
also in man-made objects. Fibonacci numbers appear in ancient buildings, in plants,
planets,
molecules, the dimensions of human bodies, and of course foreign exchange price charts

Serious Foreign exchange traders use these ratios daily in there trading to gauge price
support levels and plot profit target objectives. Trading millions of dollars a day
with the aid
of this ancient mathematical formula

Metatradertools.com (www.metatradertools.com) presents the first of a series of
articles from
world respected Fibonacci Trader Neal Hughes - The Fib Master, is an expert
Fibonacci Trader
and has spent many years applying the principles of Fibonacci ratios to the
financial markets
to gauge safe entry and profitable exit positions

Along with other Technical Analysis indicators, Mr. Hughes outlines in this first
article trading
methods using the Fibonacci formula to bank profits before the market turns and
evaporates them.
A full copy of the article is at www.metatradertools.com/wordpress


Additional Info
Metatradertools.com (www.metatradertools.com) is a supplier of third party software
to the Metatrader forex trading platform and a forex information portal for active
traders.

Web Site = http://www.metatradertools.com

Contact Details = Chris Morgan||PO Box 676||Sunshine Coast ,
4575||$$country||||0061754782630||chris@Metatradertools.com||http://www.metatradertools.com