The Forex Chartist Companion: A Visual Approach to Technical Analysis (Wiley Trading) [Paperback]

Michael D. Archer (Author), James Lauren Bickford (Author)

Book Description

ISBN-10: 0470073934 | ISBN-13: 978-0470073933 | Publication Date: February 2, 2007

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.

Editorial Reviews

From the Back Cover

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.

About the Author

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.

Product Details

• Paperback: 384 pages
• Publisher: Wiley (February 2, 2007)
• Language: English
• ISBN-10: 0470073934
• ISBN-13: 978-0470073933
• Product Dimensions: 9.9 x 7 x 1 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 2.4 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #869,521 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

11 of 11 people found the following review helpful:

4.0 out of 5 stars Swiss Army Toolbox, September 3, 2007

By 

B. Rogers - See all my reviews
(REAL NAME)   

This review is from: The Forex Chartist Companion: A Visual Approach to Technical Analysis (Wiley Trading) (Paperback)

First off, this book is not for the beginner. Nevertheless, for the intermediate and advanced traders, there are nice tools that provide a lot of food for thought. The authors are definitely traders, there is no disputing that. They also go above and beyond the call of duty in mining data. The pages offer a wealth of proof of the number crunching power we get from today's technology, as well as the ability to present the data in a usable format.

My favorite chapters are the ones dealing with Point & Figure (which gave me tons of ideas), Swing Properties, Cycle Analysis, and last but not least, the Goodman Swing Count System. This chapter alone will leave you wanting more information on this virtually unknown (up till now) trading method.

Again, this book may not serve the needs of the beginning trader. But for the intermediate/advanced trader who is past the market infatuation stage and is willing to do the work, there are definite workable ideas contained within.

9 of 9 people found the following review helpful:

4.0 out of 5 stars Encyclopedia of tools for experienced traders, July 17, 2007

By 

Como Trader - See all my reviews

This review is from: The Forex Chartist Companion: A Visual Approach to Technical Analysis (Wiley Trading) (Paperback)

This volume is an excellent source book of trading tools for the Forex Trader. You will not find a complete system with which to trade with or a primer on trading the Forex. This is not a book for a trading novice. But for the journeyman trader looking for tools to add to his/her own trading methodology,it provides an 'encyclopedia' of ideas and techniques with which to evaluate and forecast the behavior of the currency markets. The Forex Chartist Companion is solid reference that belongs next to your trading station.

3 of 3 people found the following review helpful:

1.0 out of 5 stars Make money writing a forex tradingbook, December 4, 2010

By 

Jackal (New Hampshire) - See all my reviews
(TOP 1000 REVIEWER)   

This review is from: The Forex Chartist Companion: A Visual Approach to Technical Analysis (Wiley Trading) (Paperback)

Yet another book rehashing old technical analysis material. I also have problems with the judgment of this author. He talks about arbitrage and how one can profit when different currency pairs go out of sync. This is mostly for professionals, but some do it with a home computer as well, he continues. I find this very naive. Old material and a naive author. You decide if it is worth $53.

Do you want to make money? Rough calculation: $15 dollars of the selling price of $53 goes to the author. Libraries buy 3000 copies and individuals buy 5000 copies. That is $120,000 to the author. Let's assume the book can be written in 6 months. That is $20,000 per month in salary.

Some authors write books because they find it a bit dull and boring to only sit in front of the monitors. I can understand and sympathize. The hard thing for potential buyers is to know when an author is just publishing as a side business because his trading life makes him lonely and when an author is publishing as his main business while also trying (unsuccessfully) to make money trading.

I have written several reviews on trading books. Check out my lists for good and bad books. One recommendation for beginners: Currency Trading For Dummies.