Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment
$13.40
| Author(s) | |
|---|---|
| Format |
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| Pages |
220 |
| Publication Year |
2006 |
In Technical Analysis of the Currency Market, Schlossberg lays out the basics in using technical analysis to trade foreign currencies, from the fundamentals of how the FX market works to the variety of technical strategies and trade management techniques traders can employ. Along the way, he offers entertaining examples and observations as well as simple, easy-to-read charts and diagrams.
Introduction:
Technical Analysis of the Currency Market is a great resource for traders just starting out in currency markets. His focus on simplicity is critical for a new trader’s education on how to make money. Know this. Technical analysis will not make you rich. It will not turn $1,000 into $1 million in a matter of weeks. It will not allow you to design a computer system that will automatically generate income while you luxuriate on the golf courses of Florida or snorkel in the azure blue waters of Cozumel.
Like every worthwhile endeavor in life, success in trading requires dedication, persistence, and a never-ending desire to excel. Technical analysis is only a tool—albeit a very good one—that if used properly can greatly sharpen and improve your trading in the currency market, but it cannot by itself make you a successful trader.
This book is about the practical application of technical analysis to the foreign exchange (FX or forex) markets. In it, Boris Schlossberg shows you the key advantages as well as some of the limitations of this trading discipline. This book alone cannot guarantee success, but he can assure you of one thing: Your chances of winning will increase markedly if you learn to how to use technical analysis to trade FX. Before turning to the business at hand, however, it’s critical to understand how the FX market works and, more importantly, how it differs from all other financial markets that you may have traded.
Contents:
- FX 101
- Is It All Just Random?
- The Secret to Trading
- Show Me the Data!
- Trend Is Your Friend?
- Gauging Range
- Fibs Don’t Fib
- Patterns and Antipatterns: Know Your Mark
- Know Yourself, Know Your Setup
- Setups! Setups! Setups!
Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment By Boris Schlossberg pdf
17 reviews for Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment
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Ariana Hancock (verified owner) –
The autor choosed the most effective tools for forex market to the day traders. The technical implication of the tools in trading and money management very well combined. Also the book helps the traders to feel the power of their mind as the main tool to gain of the forex game.
Musa Booker (verified owner) –
This book covers the basics of FX market first, then going through each standard TA tools one by one, as on how they apply to FX. If you have read books on TA already, you may find it really basic, even it keeps using FX trades as examples.
For starters in FX and not knowing much about TA, it is very concise and will save you a lot of time reading other books. The way it discusses each TA tools is right to the point and easy to understand. Which means, if you read this first, you probably can skip other more difficult TA books.
The last chapter reviewed some setups, which would be useful even for experienced traders.
Worth buying but I was expecting just a little more.
Jesus Lindsey (verified owner) –
I had been looking for a book with currency-specific technical analysis techniques that I could recommend to the many people who are looking for such information. There was a book by Cornelius Luca with a similar title that went out of print. Now used copies are selling for as much as $1700. This one is far better and more useful.
For the most part, technical analysis is the same regardless of the market to which it is applied. But for Forex traders it can be tiresome to read books that are all about the stock market which can have some characteristics that just aren’t relevant to Forex. For instance many candlestick formations just don’t happen in Forex because, being a 24 hour market, Forex does not have gaps in price except occasionally over a holiday. And so much of stock TA involves volume which is a data that just isn’t available in Forex. Mr. Schlossberg has done the trading world a huge service by providing so much information on trading techniques that are specific to the currency market.
Amira Waters (verified owner) –
I am new to forex, I have been trading for about 3 months. This book covered the basics of technical analysis in a style that was easy to read and understand.
Jessie Patrick (verified owner) –
I have been trading in forex for over 3 years, but hadn’t really studied or made use of the technical tools at my disposal. This book gives a very good overview of all the forecasting tools that come with most trading platforms. Schlossberg stays objective about the advantages and drawbacks of each technique rather than pimping his own personal style, thus giving the reader the ability to review all the different tools and utilize the ones that work best for him.
Some of his examples and diagrams seemed to be counter-intuitive to what he was describing, so that was a bit of a drawback. I also would have liked to see more in-depth examples to show how a trader would look at each step in each technique rather than an all-inclusive chart showing every part of the example. That got a bit confusing at times.
Overall, though, I am very pleased with the book and the information it gives. It is objective, concise, and well prepared. I would recommend this book to anyone who is still trying to understand the forex forecasting tools that are available and how to use them.
Theodore Welch (verified owner) –
A good book if you are looking to day trade for longer term trading there are better resources. Boris has an aggressive style of trading with a propensity for damage control through positional reversal, it makes for an exciting day!
Ailani Thompson (verified owner) –
I was pleasantly surprised. I expected classic views, as state in the title, but in fact it has lots of specific info about forex trading and mechanics. I even liked the parts not related to TA more than that dealing with classic TA.
Nataly Mata (verified owner) –
You have to wait till chapter 10 before you see something unique to the book. The other chapters are spent talking about what you can read up on most forex websites. The last two chapters 9&10 are spent on know thy self, analysis, setups and strategy. The setups/analysis is mainly based on bollinger bands. Not exactly keen on Bollinger bands, so my interest was nil. If you are a complete beginner to forex, this book may be useful..maybe.
Sergio Pratt (verified owner) –
The way the technical indicators are explained is simple and straight forward, it is very useful to know such information, testing of the methods suggested rely on the traders themselves simply because there are so many mind sets, for the same setup there could be several conclusions based on the thinking and mind process of the trader, so each trader has to find what conforms to their mind set and way of thinking, nothing is absolute.
Some setups may work 80% of the time but definitely not all the time, it will work if your mind set conforms with the setup and you have trained your senses to pick up the winning trades, as many times the setup is perfect but the gut feeling doesn’t confirm, so which way will the trader follow, each trader have to assess such instances carefully to know what conforms with what, the subject is open to so many variations.
To me as a new Forex trader – almost 2 years – the book was very helpful in laying a foundation for technical analysis.
Another very important point is that harmony between a book and its reader is important, disharmony doesn’t mean the book is below par, and this is something no one has control over, it is either there or it isn’t.
Dulce Zimmerman (verified owner) –
This book is perfect. It is for sure one of the best books written on technical analysis for forex trading. A+++ High Probability Forex Breakout Trades That Are Easy To Spot
Derrick Moody (verified owner) –
This book is a must for real traders. Boris describes the technical approach in a very simple and logical way. He gives us several very powerful strategies for the long run. I strongly recommend.
Elaine Velasquez (verified owner) –
if you trade forex this is the one that makes it all simple in and easy, straight forward language. no formalities – just wisdom. my favorite so far
Maximilian Ellis (verified owner) –
Boris Schlossberg in this book covers the basics of technical analysis in a way digestible for new traders, explains basics like candlestick patterns, and indicators like moving averages, Bollinger Bands, RSI, among others. Spoiler alert: In the last pages he presents practical trading setups and strategies, along with some very interesting money management approaches.
After reading this book, readers should consider also reading the books by Kathy Lien (Mr. Schlossberg partner in BKForex.com), which cover fundamental analysis, swing and day trading and mixed technical/fundamental strategies.
Ayla Hunt (verified owner) –
Excellent Book! This provides you with a clear understanding and how to understand how the Forex works. You will read through this book and find out that the market is very simple and nothing is complicated. There is no “magic trading bot” or “secret trading strategies.” It’s called reading a book and learning the information for yourself, and that’s exactly what this book gives you. The chart set-ups in this chart will 100% make you profitable, you just have to follow them. With that said, for some; this is the hard part, people simply do not follow instructions well!
Colette Solomon (verified owner) –
good read, picked up an idea of some setups
Sullivan Ward (verified owner) –
Very Good Book, will aid the novice in understanding forex. I wish the author had spent a little more detail in going over how he looks at these set-ups when he is deciding to trade. I would demo these set-ups 1st. I liked how they worked in the demo once I learned how each worked in terms of targets and setting stops etc.
Ray Villegas (verified owner) –
Very basic book….not what I expected.