This is an excerpt from High Profits in High Heels. The entire PDF can be downloaded from this page

My name is Carolyn Boroden, and I am a Commodity Trading Advisor who specializes in trading with Fibonacci time and price analysis. I currently run a traders chat room which focuses on daytrading the stock index futures along with other financial futures markets. In this room I push live charts and run trade setups for my clients during the pit session hours based on this methodology. This is followed by a daily video update of the markets to prepare my traders for the next session.

McGraw Hill will be publishing my first book on this subject titled Fibonacci Trading. It is due on bookshelves in January 2008. I have presented my methodology at many of the Traders' Expos over the years and have also written a number of articles for the industry magazines on the same subject. I teach seminars on how to use this methodology on everything from individual stocks to the Forex markets.

For more information check out my website at www.FibonacciQueen.com. Surprisingly, I never had any intention of getting involved in the trading industry. I grew up on Long Island just outside of New York City with a very rebellious personality. I quit high school and left home at the ripe age of 17. As I struggled to make ends meet as a speed typist, my cousin Cathy asked me if I would like to interview for a job on Wall Street. At that point I was working two jobs and about to keel over from exhaustion. She said that I could make as much money with the one job on Wall Street as I was making between the two on Long Island. Now THAT sounded good to me. She dressed me up appropriately for the interview at Donaldson Lufkin and Jenrette where I interviewed for a position as a secretary/gopher to the government bond department. I'll never forget the day I walked into this rather large office that had what looked like huge TV monitors hanging down from the ceiling and tons of men and a few women sitting in a strange looking arrangement of desks.

Each desk had telephones with lots of buttons on them that some of the traders tended to throw the receivers at. It was awesome and frightening at the same time because I was a shy, albeit, tough 18 year old. William M. Kidder, who was the manager of the government bond department at that time, interviewed me. I didn't think he was going to hire me, but I told him I had another job that started next week and needed an answer right away. I think he was surprised by my aggressive statement, so he gave me a shot by hiring me on the spot--and for that I will forever be grateful.

I worked hard at keeping my government bond traders happy by ordering the proper lunches, getting their coffee, typing the letters and memos they needed along with an occasional trip to the Xerox machine. That was my introduction to the world of trading. My second position at DLJ was as a position clerk where I kept track of the traders' positions. In those days, this was done by HAND and not by computer. By the time I was 19, I had my third job at DLJ assisting one of the commodity futures traders in the office. I used to help him write up trade tickets and enter the orders on the trading floor. This led to my first business trip where I was sent to visit the Chicago Mercantile Exchange to check out the trading floor. There I was transmitting client orders via phone. Now that was exciting. There was an open position to work on the trading floor when I visited. I asked for the job and transfer; and, by the time I was 20, I moved to Chicago and started yet another job at DLJ as phone clerk on the trading floor of the Chicago Mercantile Exchange. I spent many years on the trading floors in both Chicago and New York, and finally worked my way up to floor manager status back in Chicago, with an exchange membership and where I was paid at least $70,000 per year plus bonus. I was also made a Vice President of Bank of America Futures. Not bad for a high school drop out! I don't think they knew I quit high school or I may not have received the promotion! Fast forward to the crash of 87. I moved on to another company just before the crash of 1987 and little did I know how my life and career would change after the 1987 event. Bottom line, I lost my cushy job and found it very difficult to find another one. I found that even though I was more qualified than some men to run a floor operation, I was often passed up for the new job either because of my lack of formal education, or the fact that I was female. At least that is what it felt like.

As I struggled with what to do next in my career, the taste of success in this rather sexy business made me want to continue in the industry. I ended up working at a few jobs that I felt were beneath my experience, but hey, at least they paid the bills!

One day, I believe in 1988, a friend of my broker talked me into going to a seminar on trading at what was then the Midland hotel in downtown Chicago. I was reluctant to go since I was not making much money anymore, but I was assured that I would learn something that would more than make up for the cost of it. It was there that I met my friend and mentor Robert Miner. I sat in Bob's presentation and actually remember the general area of the room where the proverbial "light bulb" went off. It was when Bob talked about using the Fibonacci ratios on the time axis of the market. I talked to Bob after his presentation because I was so impressed, and we started to develop a friendship/business relationship over some cocktails and pool shooting in Chicago.

That was the beginning of my REAL education about the markets in this business. I feverishly worked on the "Commodity Perspective" paper charts that were printed and sold every week at the exchange. I used a pencil, calculator, and proportional divider to test what I had learned about the Fibonacci ratios in Bob's seminar that day, and his other seminars in the days to come. I continued on as his student for years. I was finally introduced to an easier way to analyze the markets via computer. I considered myself very lucky as I got to be one of the first users of the Dynamic Trader software program (as created by Robert Miner). This software tool made my work so much easier and faster.

As I continued to learn how to do the analysis even more proficiently by taking Bob's home study course, I started sharing the work with anyone who would listen because I was so excited about it. When I finally decided to become a series 3 registered broker, I finally had an audience. I eventually ended up failing as a broker because I did not want to solicit funds. Plus, I would talk the clients OUT of trades since I had developed strong opinions from my new technical analysis methods. Somehow I ended up with enough of a reputation of accurate market calls that some traders started offering me money just for my market advice. Eventually I decided to make it my official business. I was now self-employed and finally being paid for analysis that I LOVED to do and which still fascinates me to this day.

This eventually led to invitations to speak at traders' conferences. The first time I ever gave a live presentation in front of an audience, the adrenaline had my knees and hands shaking during the presentation. I swore I would never do it again, but as I grew up in the business, I finally started enjoying the teaching aspects of it and started taking every opportunity to do so rather than shying away from it. Even though I still had fears about speaking, I knew I had to push through them and move forward. The speaking engagements at the Traders' Expos eventually led to offers of book publishing contracts!

Ok, so that was the long story of my entry into this business. I always enjoyed the fact that I was most often a successful female in a male dominated business. Of course there were those chauvinistic men who didn't think I had any talent and would try to put me down. There were also the men that tried to take advantage of me being female in the business. I actually could have been set for life with a few sexual harassment suits, though I opted for walking away from these situations instead. It was "funny" that I got fired from one company about a week or two after one of the managers showed up at my apartment wanting to have sex, which I had refused. First, I had no interest in this person; second, he was married. I don't really wonder too much about that coincidence in the timing of my firing. I was told it was because the desk manager was upset with me for talking to clients too much about Fibonacci instead of focusing on taking the trade orders, which was my official job. Oh well, I chose not to fight it; and, I was referred to another job that day!

My specialty in technical analysis is in applying the ratios derived from the Fibonacci number series (as made famous by the DaVinci code movie) to the key highs and lows in any market with adequate data. I apply these ratios to both the time and price axis of the markets. When I find certain repeating patterns and confluences of the price and time relationships, I use this information to create relatively low risk, high probability trading strategies.

This trading methodology can be applied to individual stocks, stock indices, commodity futures, and the Forex markets. It can be applied to both higher time frames and lower time frames. I run this type of analysis down to a 3-minute chart for my day traders. I also run the weekly and daily charts that can be utilized by my swing traders interested in the longer-term trends.

To go into a little more detail of what I actually do, the main ratios I use in my analysis are .382, .50, .618, .786, 1.0, 1.272, and 1.618. I use these ratios on the price axis of the market when I run price retracements and extensions of prior swings, which are run from two price points. I also use them when I run price projections of prior swings, which are run from three price points on a chart. Running these price relationships helps to point out key support and resistance zones on a chart, especially when there is a healthy confluence or clustering. After running the price relationships, I use these same ratios to project forward in time to tell me where to look for market reversals. This is where the Dynamic Trader program will count the number of days or bars between key highs and lows, and then project the ratios forward from the last pivot. Again, when I see a confluence of timing relationships, it points out a "time window" when I should watch for a possible trend reversal.

Let me walk you through a quick example of a trade setup that I would identify in my chat room as a possible opportunity. One of my main markets is the S&P E-mini futures contract. Some of my best setups come from the 15-minute chart data. The following example is an actual setup that was calculated and available to my subscribers that day.

Figure 1 is a 15-minute chart of` the September 2007 E-mini S&P contract. On July 27th, the

general pattern of this chart was bearish. You can see lower lows and lower highs clearly on this chart. Since I focus on setting up my trades in the direction of the trend, on this day I looked to set up key Fibonacci price resistance for a possible sell entry. Late in this session I was able to identify two standout price resistance clusters. One came in at the 1487.50 -- 1488.50 area with a confluence of at least three Fibonacci price relationships (I call this a price cluster). Another zone came in just above the first at the 1489.75- 1492.00 area. This confluence of price relationships was calculated from the prior highs and lows before the actual resistance zone was tested. Once it was tested and price did not clear the area, my clients were able to take their sell entry triggers and enter the short side of the market. The actual high in this case was made at 1488.50 into the first price cluster zone. An eventual decline of 31.25 points was seen from this high.

I would not expect my traders to profit from this full decline, though I would expect them to take some profits out of the middle of that move. July 27, 2007 was not exactly a typical day in the S&P. It ended up being a huge trend day. I generally look for a 15-minute chart to provide a setup that may only yield 6 -- 12 S&P points. My traders also keep in mind that many of these trade setups will either not trigger you into an entry or position, or won't work out after you get triggered into one. The maximum risk on the setups that don't work out is generally 2.50 -- 3.00 points in the S&P