MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Talk » Technical Trading

[closetmuse]

Hi all, just got started with forex, forex options. i have access to reuters and its forex charts but i don't have the experience/knowledge to read them.
I would like to learn about technical analysis and chartings and wondering how i should get started.
Am thinking of buying a book to read up the basics first. Can anyone recommend me a good Technical Analysis book for beginners that is easy to understand and apply?

Many thanks.

[joni]

I am new too, I have been referred to Elliott wave analysis.

There is a book called Dynamic Trading by Robert Miner on EW.
But there are more patterns within data, pity no one has responded to you.

[zynetic]

Originally Posted by closetmuse

Hi all, just got started with forex, forex options. i have access to reuters and its forex charts but i don't have the experience/knowledge to read them.
I would like to learn about technical analysis and chartings and wondering how i should get started.
Am thinking of buying a book to read up the basics first. Can anyone recommend me a good Technical Analysis book for beginners that is easy to understand and apply?

Many thanks.

I don't really know about books to recommend since I can't get any of them easily in my country. I do have some links and basic article that might be able to help you. Just a basic info.............'COZ I'm new,too

www.investopedia.com
www.fxstreet.com

I think this theard would help a lot,too

I've been tradiing successfully for over two years by reading these sources

Very infomative. hope you enjoy it.

happy trading

[TRADE]

The technical knowledge is somewhat easy to acquire, you just need to do an internet search and you should find plenty of stuff to get you started. anything you will be taught from a book on technical analysis you can find it for free.

Forums such as this one are also an excellent place to start learning, plenty of people to point you in the right direction, and others mistakes to learn from.

thats how I got started, ultimately you will need to find your own way and something which works for you as there is no right or wrong (just what is shown on your P & L).

The aspects of trading which i recommend you focus the majority of your time on are money management techniques and psychology, this is more important than searching for any strategy/system or drawing trendlines and usually the most neglected or misunderstood.

you will learn to be creative and draw trendlines in a matter of minutes, but state of mind, consistency and correct money management may take you years to master.

[pipmagnet]

Hi,

I would recommend the following website www.nqoos.com . The owner has lots of information in trading for FREE. His motto is pick one setup and get really good at it before adding.

[Trader01]

Originally Posted by closetmuse

Am thinking of buying a book to read up the basics first. Can anyone recommend me a good Technical Analysis book for beginners that is easy to understand and apply?

Many thanks.

Technical Analysis for Dummies!

[helloworld]

I got this from some other forum. Just thought maybe good for someone like me to looking for the smilar stuff! Enjoy reading! Share your stuff if you could!

Basics/Required Reading - Information for beginners and sites everyone should have bookmarked
InvestOpedia (great resource) - http://www.investopedia.com/
Forex PDF Collection - http://www.savefile.com/projects.php?pid=868431
Forex Basics (short) - http://www..com/getting_started/forex_basics.asp
Forex Basics (longer, better) - http://www.goforex.net/forex-basics.htm
MMG Forex for Dummies - http://www.moneymakergroup.com/index.php?showtopic=8775
NY FED Foreign Exchange Site - http://www.ny.frb.org/markets/foreignex.html
ForexTradingWorld - http://www.forextradersworld.com/

News / Analysis
ForexNews - http://www.forexnews.com
DailyFX - http://www.dailyfx.com/calendar/FXCalendar.html
http://www.acetraderfx.com/eng/resources/
http://gm.bankofny.com/Research_Home.asp
http://research.cibcwm.com/res/FEX/FEXResearch.html
http://www.pro-forex.com/en/forexreview.php
http://www.rbsmarkets.com/psp/public/home.aspx
http://www.bbh.com/products/fx_daily.shtml
http://www.gftforex.com/resources/commentary.asp
http://www.fxstreet.com/
http://www.forexcentral.net/forex-forecasts
http://www.mataf.net/en/
http://www.forextelevision.com/FT/index.jsp
http://www.iesm.net/
http://www.fx-charts.com/
http://www.fxcentre.com/
http://fxtrade..com/resources/4cast/indexi.shtml
http://fxtrade..com/resources/ubsnews/index.shtml
http://www.mizuho-cb.co.uk/TresInternet/index.htm
http://ozforex.com/cgi-bin/dailycommentary.asp
https://www.rbccm.com/0,,cid-15976_,00.html
http://www.fxtechtrade.com/en/
http://www.scotiafx.com/FXCommentaries.htm

Money Management
TS Research Group (EXCELLENT!) - http://www.tsresearchgroup.com/en/public.php

Specific Techniques
Pivot Points - http://www.tradeology.com/pivotpoints.html
Pivot Point Calculator - http://www.fxstreet.com/conversor/fppc/fppc.asp
Vegas Tunnel Method - http://www.freewebs.com/mswilson/

Research
Free/Pay back data - http://www./

Software
MetaTrader4 (free realtime quotes and charting, EXCELLENT) - http://www.metaquotes.net
TradeStation (many markets in one program) - http://www.tradestation.com
Lightpatch's MT4 collection - http://www.lightpatch.com/forex/mt_yahoo/

Forums
StrategyBuilderFX (Trading Strategies and MT4 scripts) - http://www.strategybuilderfx.com/forums/
MoneyTec Trader's Community - http://www.moneytec.com/forums/
FX-Review Forum - http://www.createphpbb.com/phpbb/vi...mforum=fxreview
AutoForex ($300 signup fee!) - http:///
Forex TSD (MT4 scripts) - http://www.tsd-forex.com/
MT4 Indicators and EA Yahoo Group - http://finance.groups.yahoo.com/gro...and_Indicators/
MT4 script discussion - http://www.metatrader.org/
MoneyMaker Group - http://www.moneymakergroup.com/

Signal Services - 99% of signals are a scam so BE CAREFUL and always learn the basics first
Collective2 (real time signal monitoring) - http://www.collective2.com/
Forex Trading Service Review - http://www.fx-review.com/

Books
"Trading in the Zone"
http://btobsearch.barnesandnoble.co...n=9780735201446

"Trade your way to Financial Freedom"
http://btobsearch.barnesandnoble.co...070647623&itm=1

"Come into my Trading Room"
http://btobsearch.barnesandnoble.co...471225347&itm=1

Brokers
- http://www..com/
- http://www..com/
FXCM - http://www.fxcm.com/
North Finance - http://www..com/

[vox]

Hi there.

I recommend the following directions:
http://www.giuciao.com/books/trading.htm
http://www.savefile.com/projects.php?pid=868431

I hope will be useful.

And... thanks helloworld. Great message yours.

[eastwood1234]

helloworld, those links you posted are great, thanks buddy. Anyone wanting a mass of free information I recommend you go check them out.