By page 40 I decided to go back to the beginning and read it thoroughly. Every topic is clearly and concisely written with a simplicity that makes it easy to understand and comprehend to beginning and more advanced traders. I was impressed by the fact that the important aspect of the psychology behind price patterns was outlined which is important as you comprehend the reason why some price Excellent And Well Written As I have been trading for a while, I began by skimming through this book. I was impressed by the fact that the important aspect of the psychology behind price patterns was outlined which is important as you comprehend the reason why some price patterns can be relied upon while others less so. Another aspect that is specially difficult with a book based on charting patterns, is the fact that each chart tells a story which is unfolded as each new candlestick prints, and keeping pace with that story thought the chart can be complex and confusing. McAllen deals with this in a refreshingly clear manner, enough detail to make the topic clear without drowning it in a sea of detail.
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The market is currently trading sideways the same way it did during the - time period. There is no real advance, no real net gain, and any profit from an advance is taken back in the next decline.
No, I am not a negative person, a Bull, or a Bear. I am realistic. How can you be successful? Your investing and trading strategies must change with the market. The Buy-and-Hold strategy worked in the s. It will not work in a Secular Bear Market. Your success comes from learning Charting and Technical Analysis. Charting and Technical Analysis is the only way to reasonably predict future market direction, both long term and short term. Without it - trading and investing is nothing but a crap shoot.
You will NOT find a better book on the market to learn how to trade and invest wisely - how to protect your money at all times - and how to be a successful investor or trader. Spend less than 10 bucks for your education instead of losing times that amount making mistakes and relying on a salesman for bad advice. Charting and Technical Analysis and Trading the Trends give you detailed knowledge and experience that I have used successfully for 25 years in trading.
You will learn when to buy, when to sell, and when to keep your money safe. Do this: Either educate yourself to be a successful trader or investor, or keep your money safe in the bank. It really is that simple.
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That statement also refers to, and includes, using a Financial Advisor. Trading or Investing without the knowledge you will gain from Charting and Technical Analysis is nothing more than a Crap Shoot. The fallacies of investing: 1. The belief that holding an investment long term is safe and profitable. Diversification prevents loses.
Charting and Technical Analysis