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Forex chart anaylsis

  • #1
  • First Post: Jul 22, 2008 9:35am Jul 22, 2008 9:35am
Ok I am looking to expand my knowledge of Forex charting.
Looking for a good book on working with forex charts. Something that can explain how to correctly draw trend lines, Support and resistance, help identify chart patterns, and analyze all this to make an educated guess of the direction to take. It probably has been suggested before to search Google, but I am looking for a personal recommendation of a book that was beneficial to someone. I thought about posting this in the beginner section, but I am looking for recommendations from well seasoned traders.

Rusty

(note to mod, if you feel it would be better posted in Beginner section, feel free to move, thanks)
  • #2
  • Jul 22, 2008 11:37am Jul 22, 2008 11:37am
Well, my very first trading book was "The Beginner's Guide to Short Term Trading" by Toni Turner. It's geared primarily for the stock market, but still has useful explanations RE: trend lines, S/R, and candle formations.
  • #3
  • Jul 24, 2008 12:15pm Jul 24, 2008 12:15pm
Quoting Ronald Raygun
Well, my very first trading book was "The Beginner's Guide to Short Term Trading" by Toni Turner. It's geared primarily for the stock market, but still has useful explanations RE: trend lines, S/R, and candle formations.

Thanks, I'll look it up

Rusty
  • #4
  • Jul 24, 2008 1:03pm Jul 24, 2008 1:03pm
Hrm, that book any good Ron? Haven't read it.

I recommend Price Patterns by Martin Pring. Excellent book for technical traders. I recently picked up a copy of Marber's book too, haven't read it yet, but it's got some similar tones. Alexander Elder's books are good as well.
  • #5
  • Jul 24, 2008 1:35pm Jul 24, 2008 1:35pm
Quoting Rabid
Hrm, that book any good Ron? Haven't read it.

I recommend Price Patterns by Martin Pring. Excellent book for technical traders. I recently picked up a copy of Marber's book too, haven't read it yet, but it's got some similar tones. Alexander Elder's books are good as well.
When I read that book, I was about 12 years old. It's comparatively kid-friendly relative to the other books, and I would recommend it only for the greenest greenhorns.

Once you master the techniques and concepts in that book however, the other more complex books seem easier to absorb.

Just my thoughts. I suggest you use your local library for trading book ideas.
  • #6
  • Last Post: Jul 24, 2008 2:21pm Jul 24, 2008 2:21pm
Go to my profile. You will see an excellent listing of forex related reading material.

Good Luck
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
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