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I have been working for all my professional life (more than 10 years now) in finance for American and UK companies. I could say I saw them all - how it is for a company to live cash rich or strapped, how to grow or how to shrink your business, how are the investments decisions taken... My... More
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  • Todd Gordon – “Forex Trading Using Fibonacci & Elliott Wave” – A DVD Review 12 comments
    Jun 25, 2009 6:19 AM

    The forex trading looks as a complete different business to the shares trading. And this on good grounds, as most investors know. The forex pairs are the most traded investments in the world,, which ensures a fabulous liquidity. And also a volatility which makes even the riskiest share bubbles look like a joke.

     

    As such, the forex trading platforms have proliferated lately to such an extent that today are accessible to any investor. You can trade on huge margins and make huge gains in a matter of minutes – or huge losses. The difference between the normal investor and the exceptional one remains the knowledge and the methods use to limit the risk and increase the profits.

     

    From this perspective, Todd Gordon’s training DVD is a nice tool. You might read any book of  forex theory, yet the practice of an experienced trader such as Todd Gordon is irreplaceable. And as any respected trader, he has developed a system based on the Fibonacci & Elliott wave.

     

    The idea behind is quite simple – trade on pairs of currencies based on certain patterns. As most of the technical analysis, it relies on the past data to extrapolate the future. The difference of the technique illustrated on the DVD’s is that it also provides a system to test the past models on real-time data – thus allowing you to mark your profits on a relatively secure time frame.

     

    Believe it or not – most traders on the floor of the largest financial exchanges and behind the desks of most powered trading institutions in the world use Fibonacci trading all the time. Thus, the difference between the successful investor and the average one is the knowledge on the main drivers of the market – and here Todd Gordon does a good job on briefing the audience with his experience. I liked especially the usage of the trading psychology tactics that enables you to exploit fear and greed on the market. And above all, Gordon’s lessons offer you practical patterns and strategies which allow you to spot profitable pouches in the forex game.

     

    Of course, the past performance cannot guarantee the future profits. In any case, you should be better off when trading armed with some additional knowledge on the market – and this is exactly what this training DVD aims for.

     

    This training DVD is available from Market Place Books.

     

     

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This post has 12 comments:

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  •  
    Just in case anyone was wondering..using Elliott Wave Theory in the current environment of the past few years has been a complete #$@$ ! waste of time.
    7 Jun 2010, 11:10 PM Reply Like
  •  
    If you think that I guarantee u dont understand it. Dont just listen to one analyst with a predetermined mindset.
    21 Oct 2010, 01:26 PM Reply Like
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    If you would of used Elliott wave When the dollar got stronger in 2009 or to buy at the bottom of the market at the end of the crash you would be rich right now. Your just pulling info.from thin air I can email you Letters when prechter called the bottom.
    2 Nov 2010, 06:59 AM Reply Like
  •  
    I think Elliott is also very complicated - by the time you spot it, it is gone.
    12 Jul 2010, 03:20 AM Reply Like
  •  
    Most people if not all dont understand ew if they talk like that do more research and study the book more.
    21 Oct 2010, 01:27 PM Reply Like
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    There is practical ways of using it that have made me lots o money in fx. Using intermarket analysis combined with ew can produce great result. and when and once a 5way trend is complete u can always profit on the 3 wave countertrend everytime. do your homework there is a lot of practical ways to use it and make money when used with other tools and indicators.
    21 Oct 2010, 01:23 PM Reply Like
  •  
    Hi there dimes,

    I kind of agree with you, I read some books later and did my own practice online and it did not work as such. Yet there are a few good things on the book so I would not throw it away completely.
    25 Oct 2010, 08:52 AM Reply Like
  •  
    I think what Todd Gordon is doing is very misleading. I read Prechter's The Wave Principle many times over. After years of trading I can tell you that Todd Gordon is not using Elliott Wave. His trade signal are based on a myriad of market data and wave counting is the facade that he places over his real trade logic. You can follow his trades in real time on Twitter. What you will soon realize is that he is wrong about half the time, he frequently cuts his trades short of his wave count and rarely does any trade end at his projections. In the end he is no better than any typical breakout trader that uses a fib calculation and possibly the nearest significant resistance point to pick an exit. In Todd's seminars he shows you historical charts and teaches you how to look at what already took place and how to see that information as waves. Ask him to show you the last 100 of his real trade entry and exits. Then take those plots and decide if you are seeing Elliott Wave logic or something else. I did just that recently and I can tell you that Elliott Wave is not the driving idea behind what he is doing.

    The real question for me is why is Todd Gordon heavily promoting a long forgotten theory? Could it be that much like Woodies CCI Club he needs a vehicle or idea to market himself with? It seems like he wants to make money and make a name for himself while wrapping it up with a theory that was not over exposed and is fairly well articulated yet not well proven to be right or wrong that he can become the spokesman for...

    In the end we all fall sucker to these kind of scams because we want to believe the market is rational and that if we understood its inner-most workings that we too could be consistently profitable.

    Good luck.
    25 Oct 2010, 03:24 PM Reply Like
  •  
    Some of todds trade have not worked out well in the last few month, but look at his record 4 to 5 months ago. one month he was 100 percent and 2 other where he was close to ninety. The problem with you as you dont get it. Prechter has an agenda and is getting his butt kicked in his fx trading calls. The is when you fallow Todds advice you have to follow your trades and understand Elliott. If you do it lets you know when your wave count is wrong so you can have very precise exit strategies. Todd doesn't always post is exits on twitter in time. Ive made money on many of his trades that went bad by recognizing guidelines and rules so you can take profit.Also Prechter is a purest and thinks every market and assett are not related. It is nonsense Todd studies the inverse correlations of different asset classes and currency pairs reaction. I.E. If the S&P has a inverse correlation to the euro dollar pair. When S&P goes up EUR/USD goes up and vice versa. Look at long term track record and you ll be amazed. Look at Robert Miner a very successful trader that uses techniques similar to todds and you will no longer doubt just realize u lack the education.
    2 Nov 2010, 06:52 AM Reply Like
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    By the way if you read the wave principle then you would also know that many waves such as a declining second wave can at times reverse and become a flat and Todds intermarket analysis along with wave principles can have out of false 3rd wave with some gains.
    2 Nov 2010, 06:56 AM Reply Like
  •  
    It's a form of technical analysis that can go either way at times and that is not the time to invest. You have to wait for proper setups. If you see a five wave decline or rally with the proper fib. ratios on an hour chart drop down to a 30 min or 15 min chart and you will see a 3 wave revesal bare minimum and it happens all the time.Have to recognize the pattern so you know what to expect.
    2 Nov 2010, 07:05 AM Reply Like
  •  
    Wow this is a nice comment, thank you ranger500 for the insight!
    26 Oct 2010, 04:48 AM Reply Like
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