Forex Wave Theory by James Bickford

Forex Wave Theory (A Technical Analysis for Spot and Futures Currency Traders) is a Forex technical analysis book about the wave cycles written by James L. Bickford. The purpose of this book is to answer the most important questions of the technical analysis — where and when. Where one wave starts and another finishes? Where are the critical points for setting of the stop-loss and take-profit levels? When is the right time to enter a position and when is the best time close it? Wave theory isn’t something fundamental and monolithic — there are many theories, many authors and many followers of different wave analysis practices. This book tries to research the most prominent of the theories and offer the practical methods of trading based on these theories. The wave cycles of various periods, length, and depth are described in details throughout the main part of the book. The final chapters are dedicated to the advanced parts of trading with the waves and dives into the theory of fractals.

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Knowledge of the interest rates associated with various Forex traded currencies is important not only to the long-term currency traders, but also to short-term traders, as even the short-term trends are often determined by the interest rates difference. You can find the most current interest rates of the 20 world central banks in the interest rate table.

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3 Review

  1. Vinod:

    The best-known wave theory summarized by Bickford over time was the Elliott Wave. There are also cycles that are multi-wave, or so they say. Most of this work is qualitative, so that’s good for people who would like to try the models out for themselves to see their effectiveness.

    Sadly though, a lack of scrutiny proves to be a weakness – it seems to be as if you have to be the seminal choir being preached to. You have to believe that these models worked for these theories to pertain to you; if you are a skeptic, though, take caution. You’d have to ask that even though it may work in the market, these are only just theories…and one would wonder if it is indeed plausible.

    So be a bit wary on spending on this book or these theories.

  2. zorro13:

    This book as a great swing analysis of the Euro and the United States dollar, giving a clear statistical basis for the claims by Elliott and his associates pertaining to retracements, swing count, and more.

    This is a must if you want to do a thorough Elliott study of Forex.
    The historic part for the creation of wave theory is especially useful.
    Combined with others, this material can help you analyze, but not alone – though it does contain useful information.

  3. biz:

    Market Wave Theory (and Forex as well), is very complex, though Jim provides a thorough introduction to it. This book gives a great foothold in the topic of wave theory, and if you’re a researcher, it can help you further your studies as well!

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