Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment
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.
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.
- 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!