Technical analysis is the pursuit and development of successful forecasting and trading strategies based exclusively on price behaviour. Price is the premier signalling device of the market economy and the trader's benchmark of reference and, as yet, no simpler or more promising alternative has yet emerged. In this often irreverent introduction to technical analysis, Tadion shows how to identify the good parts of this forecasting system. The approach adopted by the author is to examine uncomplicated and familiar systems in which statistical regularities, analogies and similarities can readily be observed, measured and categorized. He takes a scientific approach to technical analysis in his discussion of certain widely-held beliefs. Following on from this, the author attempts to show that the laws that govern such systems are not only applicable to the market, but are also the common threads that run through the fabric of all chart techniques. The volume concludes with rules, strategies, examples and various other topics useful or interesting to the would-be chartist. It focuses exclusively, by way of example and illustration, on one single market only, namely the foreign exchange market, which has now become the largest market by far.
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The Author has a PhD in magneto-optics and was a Postdoctoral Fellow at Kings College, University of London. Whilst at Kings he started a company with a capital of £500 in a railway yard. It became the world leader in spectroscopy and grew in ten years from 1 to 400 employees. Meanwhile he had founded two other companies in the UK and USA. In 1965 he sold his companies and retired. Early in 1970, convinced that the banks that managed his investments knew almost nothing about what they were doing, he made a vice of a necessity and began trading himself until 1993 when pressure of other interests led him to leave the market sine die. He has been a consultant to various banks and has managed several funds.
"I have read many books on the subject of technical analysis and chart reading but this is one of the very best I have encountered for a long time. It is such a pleasure to read this book because it simultaneously reveals a scientists crystal clear and disciplined thinking, and yet is written in a style which is easy to understand and is entertaining and amusing the reader will take Cubic Regression analysis in his stride as if it were a back of envelope calculation." from the Foreword by Robin Griffiths, James Capel, UK, and former President of International Federation of Technical Analysts.
"I have read many books on the subject of technical analysis and chart reading but this is one of the very best I have encountered for a long time. It is such a pleasure to read this book because it simultaneously reveals a scientists crystal clear and disciplined thinking, and yet is written in a style which is easy to understand and is entertaining and amusing the reader will take Cubic Regression analysis in his stride as if it were a back of envelope calculation." from the Foreword by Robin Griffiths, James Capel, UK, and former President of International Federation of Technical Analysts.
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