Technical Analysis for Dummies (For Dummies (Lifestyles Paperback)) |
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Barbara Rockefeller
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Pages: 360 (Paperback)
ISBN: 0764540440
Pub: John Wiley & Sons
Pub date: 2004-02-24
Amazon.co.uk Sales Rank: 3062
Reader Reviews:
Great stuff. Not so for dummies (1/1 people found this helpful)
Despite this being for "Dummies" it's incredibly detailed and covers just about everything that one needs to start trading with Technical Analysis.
It begins with market basics and I came off reading this with no previous knowledge of technical analysis besides what I had been told by a friend of mine who trades.
It follows through to cover dynamic and momentum indicators in as much detail as you'll need. It doesnt pay to go too into things since indicators INDICATE and do not REVEAL. They give the most likely possibility of what will happen but that's where stop losses come in.
It teaches you early on that money management and long term survival are key. For the price, this is the best technical Analysis book out there. You mat not understand something at first but if you soldier on, things will start to become clear.
SUGGESTION: Read the entire book BEFORE you begin to trade. Read it twice to re-affirm all the knowledge but careful with following it TOO closely. Especially if spreadbetting where the candle formations are created artifically and do not show TRUE market sentiment at the time. Very sueful for CFD and real Share Trading though. You may want to get INVESTING IN SHARES for Dummies too and for a whole trading system to start off with, buy COME INTO MY TRADING ROOM by Alexander Elder. very inspirational for the novice trader.
One year TA users view (11/12 people found this helpful)
Uses the normal `Dummies' layout.
Although clearly it was written for US readers (examples are all US companies and amounts in Dollars) it is relevant to analysis of all stock markets including UK. The techniques relate to charts of all kinds of shares, currencies and commodities. The suggested websites are only useful to a US reader. Reading other books as well will help UK users.
Try "Pocket Guide to Trading Online" by Alpesh Patel - also available on Amazon. This is much more focused for the UK market and gives UK websites.
I have been trading for the past year using TA and found that I learnt quite a bit more on techniques and indicators that I had not tried.
This will now be one of my Reference books to help me improve my share trades.
Recommended
A "must have", however long you've been trading. (25/26 people found this helpful)
What is it they say? "If you could have only one book ...?" Well this should be it. A thin book (only 350 pages) for such a broad subject. Barbara Rockefeller gets right down to the core issues with absolute clarity and simplicity. She rapidly exposes flawed thinking and weak logic, debunking (very decisively) false optimism. This book shows you how to grow as a trader, and the book grows with you. Revisit it again and again over the years. I'd been trading for years before I found this book. I own (and have read) the major works (Murphy, Link, Masonson, Nison, etc). Like many experienced traders I was getting buried in the analysis and begun to lose sight of the basics. Rockefeller rips away the crap. On the front cover she claims you will be able to Identify Trends, Improve Timing, Never Make A Big Loss, Trade As A Business. That's a tall order for one book. This one does what it says on the tin. Get it. You won't need anything else to become profitable. If you've got other books, or are thinking of getting some, then look at them through Rockefeller's eyes and you'll never get bogged down again.
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