Technical Analysis Applications In The Global Currency Markets Second Edition (Hardcover)

~ (Author) "Currency traders study the past behavior of currency prices on charts in order to forecast their future performance..." (more)
Key Phrases: trend reversal formation, tasuki candlestick, irikubi candlestick, Bridge Information Systems, Elliott Wave, Box Size (more...)

Editorial Reviews

Product Description

Now updated and revised with all new charts and key information on the euro. The introduction of the euro and the recent explosion of electronic trading has changed the outlook of the foreign exchange market dramatically. Global currency trading offers staggering rewards for those with the knowledge to capitalize on it.

This updated guide provides an easy-to-follow roadmap for beginners and experienced traders alike on how to use technical analysis-with revised charts and graphs-to cash in on these enormous opportunities. The only guide of its kind to focus solely on all aspects of technical analysis, Luca explains and illustrates: The fundamentals of technical analysis and how it applies to foreign exchange What one must learn about trends and trend patterns How the major players in foreign exchange analyze their charts The quantitative methods of analysis-including all types of moving averages, oscillators, and other indicators This book provides a thorough, yet easy-to-grasp explanation and analysis of point and figure charting, candlestick charting, the Gann methods, and the Elliot Wave principle. Also included is an updated CD-ROM that lets readers test the methods presented and apply them to real trading-and quickly increase proficiency in charting and chart analysis.

About the Author

Cornelius Luca is a foreign currency market expert with more than twenty years of experience in international finance. Also the author of the New York Institute of Finance's Trading in the Global Currency Markets (July '00), he teaches classes and seminars at the New York Institute of Finance and the Center for Financial Engineering in Washington D.C. He lives in Millwood, N.Y.

Product Details

• Hardcover: 384 pages
• Publisher: Prentice Hall Press; 2nd edition (September 5, 2000)
• Language: English
• ISBN-10: 0735201471
• ISBN-13: 978-0735201477
• Product Dimensions: 11.2 x 7.6 x 1.9 inches
• Shipping Weight: 1.8 pounds
• Average Customer Review: 3.8 out of 5 stars  See all reviews (26 customer reviews)
• Amazon.com Sales Rank: #854,025 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

21 of 23 people found the following review helpful:

5.0 out of 5 stars Technical Analysis Applications in the Global Currency Marke, January 15, 2002

By	Jack Garabedian (New York) - See all my reviews

Unlike other technicians, Luca doesn't clobber the reader with certain pet indicators such as momentum or MACD. He doesn't push certain studies such as Elliott Wave, which might be difficult for a beginner.

What he does is present all the tools technicians might employ in their work and emphasize their pros and cons. In fact, in the last chapter Luca even advises NOT to attempt using all studies but select those that are best suited for each individual.

Technical analysis applies pretty equally across the board, but I found it really useful to see it so clearly applied to currencies. I can't really relate well with a chart of IBM for example when my interest lies really with the euro. I also found very useful to see the long-term charts of the major and thus get a clear perspective of the movement. Some politicians complain these days that the yen is weak at 130 to the dollar, but I can see on the charts in the book that there were more than 200 yen to the dollar in the 80s and 80 yen to the dollar in the mid 90s. Perspective helps.

I also like to see clear parts of the book dealing extensively with candlesticks or point-and-figure charts, for example. I had had trouble dealing with point-and-figure charts before but Luca made it clear how they work and how they can help you. I like the easy to follow structure of the book. Whether you are a beginner (like myself) or more advanced, you can find this book of interest. Just select your area of interest. I selected the entire book.

19 of 21 people found the following review helpful:

5.0 out of 5 stars Technical Analysis Applications in the Global Currency Marke, June 19, 2002

By	jerry esner (New York, NY) - See all my reviews

I traded FX for 15 years in major banks in New York and London and I now have a retail FX firm. I found "Technical Analysis Applications in the Global Currency Markets" to be an excellent review for myself and a vital training tool for my traders.
In a short period of time junior traders drastically improved their knowledge and, more importantly, performance. At the end of the day, all that counts is a decent profit.
I found the clear structure and complete coverage to be big assets, particularly in a market devoid of consolidated research. In fact, this is the only technical analysis book on foreign exchange that I know of.
Junior traders were very pleased with the excellent explanations, diagrams and real-life examples in this updated edition. In particular, they found trend analysis, candlesticks, and point-and-figure charts to be consistent profit boosters.
The clear explanation of the benefits of moving averages and of the entry/exit points is valuable as well. Most recetly, these ntry/exit applications worked wonderfully for both the euro and the yen.
I strongly recommend "Technical Analysis Applications in the Global Currency Markets" to anyone who toils in the volatile currency markets.

14 of 15 people found the following review helpful:

2.0 out of 5 stars Technical analysis is tecnical analysis regardless of the .., November 25, 2001

By	JD Schaefer (San Rafael, Ca USA) - See all my reviews (REAL NAME)

. . . underlying issue. This is a big expensive book about technical analysis as it applies to currencies, when in fact, it applies to all issues whether it's the British Pound or Bean Oil. In other words, if your interest is in currencies, this book doesn't have anything you won't get in better and less expensive books on technical analysis such as Edwards & Magee or Jiler or John Hill. The charts and explanations are all accurate but you keep on going deeper into the book expecting to see how the information applies specifically to currencies, it doesn't, it applies to all of them.

You want to make money in currencies with position trades, just remember currencies generally trend longer than other future/spot markets because governments move slowly. "The trend is your friend." It doesn't get much easier than that. Use a breakout/breakunder system with appropriate money management and you'll save the price of this book. Let's not hold our breath.

Not that it would ever happen, but where authors write books specifically targeting a distinct audience (but not really, just target audience exploitation), I wish the publisher provided a web site as a companion to the book. You'd have a one week password access to determine if you want to buy the book. The first day the site might say "The indicator on Page 179 is getting a set up in the Spanish Peseta." The next day, you'd get one or more messages about a diffferent indicator in a different currency, etc. After a week you'd see if you would have put on any good positions and if you liked the eventual results, you'd buy the book. Kind of a put up or shut up approach.

They did use nice paper though.