Tuesday

Review of Getting Started In Technical Analysis Book

I have been trading stocks for some time and gradually found that 1) I can only make a profit in bull upward markets 2) My timing of buying at the lowest point and selling at the highest point was flawed and depended only on my sixth sense and gut feelings. So I went searching if there is something which I could learn and rely on to tell me when is the best time to buy and sell the share. One day I came across a discipline called Technical Analysis and was fascinated by it. This is used by professional traders and remeisiers to understand the sentiment of the market, recognise any charting pattern and manage risks. There were numerous advertisements in the newspaper showing people wanting to teach others how to profit from the stock market using Technical Analysis. I attended a few of these seminars and found that you be set back by at least five thousand dollars to begin with. Whether you succeed or not, all depended on your own skill and experience. I decided not to sign up for any of them; however I wanted to learn more about Technical Analysis using an alternative way. I went cybershopping at Amazon.com and chance upon this book called "Getting Started In Technical Analysis" by Jack D. Schwager. In this book lie many hidden gems. In this book, you can find information about:

Basic fundamentals like charts and patterns, trend lines, trading ranges and breakout, support, resistance, oscillators
Trading techniques like entering middle of a trend, stop loss, exit criteria, failed chart patterns
Trading system like software, designing a trading system, system testing and fine-tuning
Practical trading approach like trading plan and steps, rules for trading, observations from the market, trading mastery

After reading this book, I have learned the many areas making up technical analysis, and it is not only about looking at charts. I like to recommend this book as a must read for beginners who wants to know everything about Technical Analysis and in turn have a better understanding of the markets to make better informed investment decisions. Jack has his own trading company and manages client funds. He is the author of several other books like "The Complete Guide to the Futures Market" and "Fundamental Analysis". The many examples are easy to follow and designed to further illustrate the concept in a practical way. Two things I like most is with Jack's extensive trading experience, he is able to provide a complete chapter solely on real-life charting analysis taken from his own trades as well as trading psychology and taking advantages of market behaviours and trends. The best thing is, I have improved my trading approach and have applied many of Jack's teachings. This resulted in better entries and exits which maximize winnings and minimize losses. I would have lost more money had I not gotten this book and relied on hope. Get it now.

Article Source: http://EzineArticles.com/7841585


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