The forex chartist companion PDF: A Visual Approach to Technical Analysis Trading in the foreign exchange (forex) currency markets has recently exceeded $2 trillion a day and this figure is expected to double within the next five years. The reason for this astonishing surge in trading popularity is quite simple: no commissions, low transaction costs, easy access to online currency markets, no middlemen, no fixed lot order sizes, high liquidity, low margin with high leverage, and limited regulations.
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Introduction- The forex chartist companion PDF
Trading in the foreign exchange (forex) currency markets has recently exceeded $2 trillion a day and this figure is expected to double within the next five years. The reason for this astonishing surge in trading popularity is quite simple: no commissions, low transaction costs, easy access to online currency markets, no middlemen, no fixed lot order sizes, high liquidity, low margin with high leverage, and limited regulations. These factors have already attracted the attention of both neophyte traders and veteran speculators in other financial markets.
ABOUT THIS BOOK
Immediately following the publication of Getting Started in Currency Trading (also by Mike Archer and Jim Bickford, John Wiley & Sons, 2005), the authors received an overwhelming number of inquiries and requests for more detailed information on the mechanics of currency day trading, market entry timing, and which positions to initiate in forex markets.
The authors hope to fill that void with the publication of the current volume. We have concentrated our primary focus on the most lethal weapons in the technical analysis arsenal: the traders’ charts, pristine in their concept and dynamic in their visual presentation of both raw and processed data. Numerous groundbreaking and innovative additions to charting theory have been included here. Also several well-known classical charting types
have been updated and modified to scrutinize the unique characteristics of forex data.
HOW THIS BOOK IS ORGANIZED
There are six major divisions in this book:
Part I: Forex-Specific Charting Techniques
Much of the material in this section originally appeared in a collection of technical currency studies called Forex Charting Companion: Innovative Charting Techniques for Currency Traders (Syzygy Publishing, 2005) by the same co-authors. Many of the charts along with the corresponding data have been revised to reflect the current personality
of the spot currency market.
Part II: Point and Figure Charting
Point and figure (P&F) charting was invented in the 1890s and has since evolved into a highly respectable technical analysis tool for detecting market entry signals. Although P&F was originally designed for use on the stock exchange, all the examples in Part II focus directly on the spot currency markets (with some startling results). This section is
actually a revised update of The Point & Figure Chartist’s:Companion: The ComputerSide Reference for Currency Traders and Analysts, also by the co-authors (Syzygy. Publishing, 2005).
Part III: Forex Swing Charting
Like their sibling P&F charts, swing charts are also members of that genre of charts normally referred to as reversal charts. Their shared advantage is their ability to filter out minor price fluctuations and highlight the critical inflection points in a price chart. This section is also an update of an earlier work entitled The Swing Trader’s Companion: The Computer-Side Reference for Swing Traders and Analysts (Archer and Bickford,
Syzygy Publishing, 2005).
Part IV: Other Reversal Charts
Both Western and Japanese reversal charts are examined in detail in this section. Knowledge of unusual and exotic charting techniques can only benefit the currency day trader since this knowledge assists in scrutinizing the same data through a different perspective.
Part V: Goodman Swing Count System
In this section, the authors examine the actual trading system of veteran trading guru Charles B. Goodman. His unique theories and hypermodern principles are accompanied by numerous practical studies and examples.
Contents- The forex chartist companion PDF
PART I Forex-Specific Charting Techniques
CHAPTER 1 Streaming Data
CHAPTER 2 Activity
CHAPTER 3 Direction
CHAPTER 4 Forex versus Futures
CHAPTER 5 Arbitrage
CHAPTER 6 The Mundo
CHAPTER 7 Range Charts
CHAPTER 8 Absolute Momentum
CHAPTER 9 Two-Dimensional Momentum
CHAPTER 10 Moving Trend Analysis
PART II Point and Figure Charting
CHAPTER 11 History of Point and Figure Charting
CHAPTER 12 The Point and Figure Algorithm
CHAPTER 13 Trend Lines
CHAPTER 14 Double Tops and Bottoms
CHAPTER 15 Triple Tops and Bottoms
CHAPTER 16 Triangles
CHAPTER 17 Pattern Frequencies
CHAPTER 18 Breakout Analysis
CHAPTER 19 Count Methods
CHAPTER 20 Plotting Point and Figure Charts in Real Time
PART III Forex Swing Charting
CHAPTER 21 Fibonacci Primer
CHAPTER 22 Swing Charts
CHAPTER 23 The Measured Move
CHAPTER 24 The Fifty Percent Principle
CHAPTER 25 Improving The Third Wave Forecast
CHAPTER 26 Forecasting The Fourth Wave
CHAPTER 27 Cycle Frequencies
CHAPTER 28 Bull Cycles
CHAPTER 29 Bear Cycles
CHAPTER 30 Swing Properties
CHAPTER 31 Swing Summary
PART IV Other Reversal Charts
CHAPTER 32 Western Reversal Charts
CHAPTER 33 Japanese Reversal Charts
PART V Goodman Swing Count System
CHAPTER 34 History
CHAPTER 35 Ordinal Principles
CHAPTER 36 Cardinal Principles
CHAPTER 37 Goodman versus Elliott
CHAPTER 38 Charting Study
About the Authors
Michael D. Archer has been an active commodity futures and forex trader for more than 30 years. Mike has also worked in various registered advisory capacities, notably as a Commodity Trading Advisor (CTA) and as an investment advisor. He is currently CEO of CommTools, Inc., a corporation focusing on nonlinear solutions to trend forecasting, with a special emphasis on cellular automata models.
James L. Bickford is a senior software engineer, technical analyst, and very active forex day trader with an academic background in applied mathematics and statistics. He has numerous books to his credit, most recently Chart Plotting Algorithms for Technical Analysts.
The co-authors also collaborated on Getting Started in Currency Trading (John Wiley & Sons, 2005).
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