The New Technical Trader by Tushar S. Chande and Stanley Kroll

The New Technical Trader — this Forex book is about technical indicators. The financial markets change constantly, but the technical indicators remain, and they are still as powerful as they were years ago. The power behind the technical indicators presented in this book is the fundamental mathematics of complex dynamic systems — such as the Forex or other financial market. The indicators in this book are grouped in two main areas — methods of price analysis and methods of risk control (money management). All of the presented indicators are thoroughly described and explained. The authors use tutorials, examples, rules list and various tips for different markets as to how apply these indicators to maximize the technical trader’s performance. The trading system compilation is covered in the last chapter of this book, allowing reader to combine the indicators into one market machine.

Get The New Technical Trader by Tushar Chande and Stanley Kroll from Amazon.
Buy The New Technical Trader by Tushar Chande and Stanley Kroll from Better World Books.

Are you looking for a free way to calculate an optimal size for your Forex positions? Use a free Forex position size calculator.

List other books by Tushar S. Chande.

(As an Amazon Associate I earn from qualifying purchases.)

Below you can read the reviews of the book and also submit your own review about The New Technical Trader by Tushar S. Chande and Stanley Kroll.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

2 Reviews

  1. Keith:

    I found this to be a well-written book but I fail to understand how the StochRSI and VHF methods are revolutionary in any way. Though they may appear to show you a much better forecast of the market they are by no means, consistent. On the other hand, slower indicators are also not very dependable as they may get you involved in a transaction very late after the profit peak starts dipping. You can say that both theories have positive and negative attributes. Mr.Chande is a much admired personality and offers a lot more in his book than the usual lot of authors do. It has been stated and proved time and again that the best indicators do not translate to maximum gains. Effective trading is made up of just three components: Using the correct methods, having a disciplined and proper frame of mind and an effective risk management technique. If you fail at either of the three, your profits will start going down and may even turn to losses. The author deals primarily with the methods of trading and this can be learnt from any of the other trading books found in the bookstore.

  2. Steven:

    Chande mentions important aspects of trading like Stochastic RSI and the classic indicators. RSI or the Ostick method is just a quantization of the Candlestick method. If you prefer to innovate and develop your own trading technique then this book will encourage you to enhance your method. The book is structured in quite a clear way but a few lines here and there do not link to the text at all. Do not pick this up if you haven’t read something more basic before. (Achelis’ “Technical Analysis from A to Z” may be a good choice then). But you will have to come back to this back after getting your basics sorted out as it really enables you to take your knowledge a level higher. The author does make some false claims about how easy trading will become after reading this book. Nonetheless, the author does highlight some important technical indicators which will help you come up with new methods to help you while trading.