Trading: Technical Analysis Masterclass

Trading stocks, currencies, futures, and other financial contracts is not actually complicated and anybody can learn it in a relatively short time. This has been my daily experience for the past decade and even traders who have tried everything for years without success can make their first profits if the art of trading is explained to them in the right way. However, the keyword “in the right way” is important here.

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This book focuses on technical analysis, explanation and interpretation of price movements and chart patterns as well as on learning effective, ready-to-use trading strategies. However, it is important to go beyond the usual technical analysis, and to analyze the behavior of traders based on psychological factors and phenomena of mass psychology as well. The price movements on the international financial markets arise because millions of people interact with each other every day. Buying and selling decisions are influenced by emotions and human behavioral patterns.

Whether we are looking at a speculator from China 200 years ago, a Wall Street pit trader from New York 80 years ago or a modern-day "Joe Bloggs trader”, trading from his/her smartphone – the human components, i.e. emotions and instincts, hardly differ. Greed, fear, uncertainty and the willingness to take risks have determined human actions for millennia and, of course, also how people have maneuvered their money around the world's markets for centuries. Those who learn to read the buyer and seller interaction from the charts will be able to read and handle any price movement. This is true because all price charts follow universal and timeless rules that can be successfully interpreted with the help of effective technical analysis.

Every day, traders ask us how they can understand technical analysis and trading in a better manner. This book is a result of the motivation to answer these questions collectively. It is the book I would have wished for at the beginning of my trading career over 15 years ago.

The first section of this book provides comprehensive knowledge of the fundamentals and individual components of technical analysis and price analysis. The second section focuses on the most important trading patterns as well as the correct interpretation of chart formations. We will explore potential entry signal points and trading strategies so that traders can now already make sense of their own charts with confidence. The third and final section focuses on developing a customized trading strategy. In addition to an insight into important psychological trading concepts, traders will get numerous practical tips to ensure that they handle their trading professionally at the end of this book.

The goal of this book is it to enable the reader to look behind the price movements and understand why prices rise and fall, how buyers and sellers interact and thus to make effective trading decisions. The comprehensive and step-by-step knowledge of technical analysis ultimately makes it possible to interpret any chart situation and, thus, hopefully, become an independent trader.

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Comments

This book explains very well the basics of candlesticks , is it a masterclass, Not sure but it’s definitely a recommended read for anybody looking into trading. Getting educated is key for trading. This book will help with that.

The book offers the readers an introduction of some technical analysis patterns, which (at least in theory) can help you guess the next move of a certain market. Of course, you can NEVER be sure about the future, however, you can just be +1% more confident when investing your money.

More precisely, it contains:
1) Candlestick analysis (which is so interesting and so well put)
2) Learning how to draw lines on a chart, in order to visualise buy/sell limits (CHART ANATOMY)
3) Find out the traps in a chart (sometimes going up, means going down)
4) Multiple Indicators guessing how the market will move in the near future, based on past patterns

To sum up, I believe that it is a nice book, if you are now starting learning about charts and patterns. I found it so full of information. No page contained useless of repetitive information. It is so value-for-money.

I have been trading for several years and was relying mostly on lower indicators and using stockfetcher to make my picks for trades spanning 1-8 days. Somewhere along the line I read that the analysis of price action is mostly what you need to know. I realized I did not have a really good knowledge of using candlesticks to see what the market was doing and going to do in a particular stock. So I searched for books to help fill in the blanks. I ordered four books and this one was the WINNER. Don't be put off by the book being only 171 pages. The pages are double spaced for easy reading. The information is basic but just what I needed. The author does not overwhelm you, he sticks to the basics and a few hints on how he uses the information in the book.

The only complaint I have is the charts in the book are harder for this older guy to see the shadows on the candle sticks which are very important. But otherwise a great book that easily filled in a lot of gaps in my knowledge on reading charts.

Read the book from front to back got the kindle version Book But gives you a very basic overview of candlestick charting and analysis As me not being a trader The book was very good as far as bring me up to speed and give me the background that I need to start analyzing candlesticks charts. Covers Different patterns gives you overview different patterns what they are But it's very basic Does not go deep Into the breakdown of the analysis of the different patterns you're introduced to in the book. I rated this book based on a beginner and not a a point of view it did bring my understanding up But I will have to review again to be comfortable with the material that I have read because I'm gonna material I was not aware of being a beginner So that's why I gave it 4stars


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