Book Review – Number 5

Filed under: Learn Forex Trading |

As the new week begins, we are now into the top five of my favorite forex-related books. This is of course not an exhaustive list, but rather, includes just the ones on my own bookshelf, which I have read (more than once!). So let’s get on with it – in at number five is…

Number 5: “Investor’s Guide to Charting: Analysis for the Intelligent Investor” by Alistair Blair

This, as the title suggest, is a book all about charting – which in the world of trading is often referred to as ‘technical analysis’. The flip side of this coin is ‘fundamental analysis’, which looks at accounts, news, and events to make trading decisions. Technical analysis, however, only looks at price charts to ascertain which way that price might move next.

 

This book provides a good overview of western technical analysis. Even if you are not a fan of western technical analysis, it is still useful to know as often, they can become self-fulfilling prophecies as if enough people believe that they work, then they will work as everyone will be doing the same things and pushing price in one direction. The book, in a nutshell, gives an overview of the art of charting, and then looks at trends, price patterns, Japanese candlestick charting, indicators, famous traders, and some trade examples. There are of course many sub-categories and topics within these main sections.

 

What I like about this book is that it does not try to be too clever and confuse you – while at the same time it is not too basic. The structure is clear and concise and it is easy to navigate if you are looking for a particular setup. If you are looking to examine methods of technical analysis, then this is one that you will want to read. Well, that’s it for number five, and I will be looking at my fourth favorite forex related book tomorrow. See you then.

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