THE FOREX CHARTIST COMPANION
The foreign exchange (Forex) market has quickly become the
market of choice for traders looking to increase their profit
potential. The combination of high liquidity and low transaction
costs-as well as twenty-four-hour accessibility-has attracted the
attention of both new and veteran traders.
In The Forex Chartist Companion, authors and active Forex
traders Michael Archer and James Bickford provide a visual window
into the behavior of the Forex market along with detailed
information on the mechanics of day trading, market entry timing,
and much more. With this book as your guide, you'll not only become
familiar with innovative software and charting systems that provide
a graphical interpretation of the markets, but you'll also discover
how to instantly see patterns throughout those markets.
Divided into six comprehensive parts, The Forex Chartist
Companion:
* Details Forex-specific charting techniques
* Illustrates the use of point and figure charting in conjunction
with Forex trading
* Explores Forex swing charting
* Outlines a variety of Western and Japanese reversal charts-from
pivot charts to Kagi charts
* Examines the actual trading system of veteran futures guru
Charles Goodman
Filled with numerous charts-annotated with Archer's insight into
the material-and in-depth information regarding charting theory,
The Forex Chartist Companion will help serious traders use
technical indicators to enter this market with confidence and exit
with profits.
Autorentext
MICHAEL DUANE ARCHER has been an active commodity futures and Forex trader for over thirty years. He has worked in various advisory capacities, notably as a commodity trading advisor and a SEC-registered investment advisor. Archer operates www.fxpraxis.com and is a professional Forex money manager. He is also the author of Getting Started in Currency Trading, which is also published by Wiley.
JAMES LAUREN BICKFORD began trading in commodity futures in the early 1980s. Since 2001, he has focused his investment efforts solely on trading spot currency pairs via online Forex dealers. Bickford's academic background is in computer science, mathematics, and statistics. By profession, he has been a software engineer for nearly three decades.
Klappentext
THE FOREX CHARTIST COMPANION
The foreign exchange (Forex) market has quickly become the market of choice for traders looking to increase their profit potential. The combination of high liquidity and low transaction costs—as well as twenty-four-hour accessibility—has attracted the attention of both new and veteran traders.
In The Forex Chartist Companion, authors and active Forex traders Michael Archer and James Bickford provide a visual window into the behavior of the Forex market along with detailed information on the mechanics of day trading, market entry timing, and much more. With this book as your guide, you'll not only become familiar with innovative software and charting systems that provide a graphical interpretation of the markets, but you'll also discover how to instantly see patterns throughout those markets.
Divided into six comprehensive parts, The Forex Chartist Companion:
- Details Forex-specific charting techniques
- Illustrates the use of point and figure charting in conjunction with Forex trading
- Explores Forex swing charting
- Outlines a variety of Western and Japanese reversal charts—from pivot charts to Kagi charts
- Examines the actual trading system of veteran futures guru Charles Goodman
Filled with numerous charts—annotated with Archer's insight into the material—and in-depth information regarding charting theory, The Forex Chartist Companion will help serious traders use technical indicators to enter this market with confidence and exit with profits.
Zusammenfassung
THE FOREX CHARTIST COMPANION
The foreign exchange (Forex) market has quickly become the market of choice for traders looking to increase their profit potential. The combination of high liquidity and low transaction costs-as well as twenty-four-hour accessibility-has attracted the attention of both new and veteran traders.
In The Forex Chartist Companion, authors and active Forex traders Michael Archer and James Bickford provide a visual window into the behavior of the Forex market along with detailed information on the mechanics of day trading, market entry timing, and much more. With this book as your guide, you'll not only become familiar with innovative software and charting systems that provide a graphical interpretation of the markets, but you'll also discover how to instantly see patterns throughout those markets.
Divided into six comprehensive parts, The Forex Chartist Companion:
- Details Forex-specific charting techniques
- Illustrates the use of point and figure charting in conjunction with Forex trading
- Explores Forex swing charting
- Outlines a variety of Western and Japanese reversal charts-from pivot charts to Kagi charts
- Examines the actual trading system of veteran futures guru Charles Goodman
Filled with numerous charts-annotated with Archer's insight into the material-and in-depth information regarding charting theory, The Forex Chartist Companion will help serious traders use technical indicators to enter this market with confidence and exit with profits.
Inhalt
Acknowledgments xv
Introduction xvii
PART I Forex-Specific Charting Techniques 1
CHAPTER 1 Streaming Data 3
Overview 3
Tick Chart 3
Spread Chart 4
Conclusion 5
CHAPTER 2 Activity 6
Overview 6
Activity Bar Chart 6
Composite Activity 8
Time of Day Activity Chart 8
Day of Week Activity Chart 9
Equi-Activity Chart 10
Activity Mercury Chart 10
Uptick-Downtick Mercury Chart 12
Conclusion 13
CHAPTER 3 Direction 14
Overview 14
Direction Chart 14
Direction Mercury Chart 16
Activity-Direction Mercury Chart 17
Conclusion 18
CHAPTER 4 Forex versus Futures 19
Overview 19
Pip Differential Chart 19
Activity versus Volume and Open Interest 22
Conclusion 22
CHAPTER 5 Arbitrage 23
Overview 23
Transitivity 23
Triangular Arbitrage Chart 24
Equilibrium 25
Major Currencies 28
Observation 28
CHAPTER 6 The Mundo 29
Overview 29
Forex Beta 29
Mundo Line Chart 31
Weighting 32
Mundo Bar Chart 33
Observation 33
CHAPTER 7 Range Charts 34
Overview 34
Range Bar Chart 34
Composite Range Charts 35
Time of Day Range Chart 35
Day of Week Range Chart 37
Average Interval Range Chart 37
Observations 38
CHAPTER 8 Absolute Momentum 39
Overview 39
Absolute Momentum 39
Time of Day Momentum Chart 40
Day of Week Momentum Chart 41
Conclusion 42
CHAPTER 9 Two-Dimensional Momentum 43
Overview 43
Two-Dimensional Momentum Chart 43
Islands 45
Smoothing 47
Observation 47
CHAPTER 10 Moving Trend Analysis 49
Overview 49
Linear Regression 49
Ordinary Least Squares Method 50
Coefficient of Correlation 51
Trend Oscillators 51
Moving Slope Oscillator 52
Moving Correlation Oscillator 52
Moving Trend Index 52
Observations 54
PART II Point and Figure Charting 55
CHAPTER 11 History …