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.
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Review Date: September 3, 2007
Reviewer: B. Rogers,
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.
Encyclopedia of tools for experienced traders
Review Date: July 17, 2007
Reviewer: Como Trader,
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.
Useless fluff
Review Date: January 1, 2010
Reviewer: Blue Orion, Bangkok Thailand
For experienced traders: This book provides very basic overviews of various charting techniques and never goes into enough depth to be of any use to an experienced trader. Most sections end along the lines of "this concept is essential knowledge for the trader but a detailed discussion is outside the scope of this book". The TOC looks interesting but the chapters do not have any actual meat.
For newbies: The book doesn't provide any useful introduction to FX trading so I don't see this book as offering any value for newbies either.
I'm shelving this book under the crowded "useless fluff" category.
Bad
Review Date: March 15, 2007
Reviewer: John H. Sweet, Cary, NC United States
Save your money! This book is not worth the effort and definitely not worth the price.
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