Forex Book

Trade Chart Patterns Like the Pros will teach any Forex trader (expert or newbie) when and how to trade using the bare charts, without any indicators or oscillators that are so popular among the pro-wannabes. The 65 chart patterns outlined in this book are all described in details with the real-life chart example to make the understanding easier for all types of traders. Of course, all Forex chart patterns fail sometimes but the point of this book is to show you what patterns to avoid and when to use them for their full profit potential. For each pattern, the entry and exit conditions are provided giving you a an extremely useful tool if you plan to create your own trading strategy from just reading this book. Traders of all experience levels and all financial markets will benefit from it.

Encyclopedia of Chart Patterns is indeed a great book, listing almost all possible technical analysis chart patterns with the detailed description for each pattern and the statistical background of its consequences. The total of 47 chart patterns are listed and explained on almost 700 pages of this trading ebook. If you like using technical analysis but often find yourself unprepared to react in an organized way on some of the patterns then this book will definitely help you. For each chart pattern its results snapshot, introductory information, identification guidelines, failures description, statistics, trading tactics and an example of a sample trade are presented.

Candlesticks, Fibonacci and Chart Pattern Trading Tools reveals the strategy that according to the authors of this book is capable of improving trader’s performance, reducing his risk and increasing his profits. Trading tools are used with conjunction with many vital rules that are explained throughout the book. Any signal should be produced and executed with the extreme precision and accuracy. Not only the candlesticks, Fibonacci levels and various chart patterns should be considered valid systems, but other approaches may be added. One trading approach should be applied to more than 5 various trading products to reach the desired diversification level. Stop-loss, as well as the planned profit target, is a crucial part of any trading signal. A given trading approach should only be used in the appropriate market conditions.

Microtrading the 1 Minute Chart — a really short (only 7 pages long) Forex strategy guide by the unknown author that will be useful to the technical analysis traders. It can be easily used to base your own ultra short-term Forex trading strategy. It’s presented as a strategy that should be used on 1 minute EUR/USD chart. It uses four standard technical indicators: Bollinger bands, exponential moving average, MACD histogram and relative strength index (RSI). The huge benefit of this Forex trading system is that it can be automated and turned into a mechanical expert advisor (e.g. for MetaTrader 4 platform). All strategy explanations are supported with the chart examples for the readers’ convenience. The only disadvantage of this book is that it doesn’t show any statistical reports of this system’s real trading usage.