Essential Technical Analysis by Leigh Stevens
By Leigh Stevens
An advent to Technical research from one of many best Names within the Business
"Essential Technical research is a hugely valued source for technical investors. the significance of finished and well-researched marketplace behaviors, symptoms, and platforms have been good expressed graphically with many examples. No technical analyst may be with no this ebook. Stevens's e-book may turn into one other classic."
-Suri Duddella, President of siXer.cOm, inc. (Forbes magazine's "Best of the internet" in Technical research Category)
"Essential Technical research will supply the hot scholar of technical research a superb evaluate of either classical chart styles and a myriad of technical signs, yet so will many different texts. What units this quantity aside is that it provides the topic within the context of real-world buying and selling events, no longer idealized well-chosen examples. Books on technical research, specifically these geared toward newcomers, are usually choked with charts during which the chosen styles are either unambiguous and paintings completely. As Leigh Stevens acknowledges and confronts, notwithstanding, the genuine international is a much more sloppy position: charts may possibly usually comprise conflicting symptoms, and styles do not regularly paintings as defined. interpreting crucial Technical research is like sitting beside a veteran technical analyst and having him describe his equipment and marketplace experiences."
-Jack Schwager, writer of marketplace Wizards, inventory marketplace Wizards, and Schwager on Futures
"Leigh Stevens's intensity of expertise, obtained over decades, has generated a deep realizing of, and dedication to, the self-discipline of technical research. he's additionally a kind of infrequent people who have either the facility to show the essence of his principles in a perfectly uncomplicated and simple approach and during using own anecdotes and reports. There aren't many of us round who can either stroll the stroll and speak the talk."
-Tony Plummer, writer of Forecasting monetary Markets, Director of Rhombus learn Ltd., and previous Director of Hambros financial institution Ltd. and Hambros funding administration PLC
"Leigh Stevens brings his huge years of expertise to this undertaking. He has crafted a real-world ebook on technical research that offers you the advantage of his trials and error in addition to one hundred twenty years of observations and industry knowledge from Charles Dow to the most recent signs and methods. traders who suffered from the bursting of the expertise bubble in 1999 and 2000 should still learn crucial Technical research from disguise to hide and discover ways to practice the teachings to the following industry cycle."
-Bruce M. Kamich, CMT, prior President of the marketplace Technicians organization and Adjunct Professor of Finance at Rutgers college and Baruch university
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Additional info for Essential Technical Analysis
Bourquin: How did you come across and settle on trend lines, moving averages, and Williams %R as the best indicator combination for your trading? Foster: When I first began studying technical analysis, I read everything I could get my hands on—books, blogs, web sites, you name it. I began trying all the different indicators, and those are just the ones that really stuck for me. Now, those three work for me, but they might not work for every trader. So, my advice is to work with a bunch of indicators to find out what works for Traders at Work you, but recognize there is a limit or middle ground to how many you can use before you start finding conflicting data.
I have just found that keeping it simple and sticking to profit and stop targets is just as profitable and sometimes easier to follow. Bourquin: When you are looking for an underlying to break out on a daily chart, do you want to see an entire candle close above, say, a channel or a level where it’s been consolidating before you will take the trade? So, for example, you might see the breakout signal one day, and then the next day you will take the trade? Berger: I’ll take the trade at the end of the day, within fifteen minutes to close.
If I see that, one—we are in a bullish trend, two—we’re likely to move out of oversold conditions, and three—we’ve got the shorter-term moving averages above the longer-term, that would lead me to form an underlying thesis that over the coming months—with six months being the upper limit of that time horizon—the underlying asset is going to be higher than it is currently. So, with that as the basis behind all the rest of my trades, I wait for the right opportunity where the shorter-term moving averages—ten-day, twenty-day, or fifty-day, if trading on a daily basis—are moving in the right direction.