Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment

I had been looking for a book with currency-specific technical analysis techniques that I could recommend to the many people who are looking for such information. There was a book by Cornelius Luca with a similar title that went out of print. Now used copies are selling for as much as $1700. This one is far better and more useful. For the most part, technical analysis is the same regardless of the market to which it is applied. But for Forex traders it can be tiresome to read books that are all about the stock market which can have some characteristics that just aren't relevant to Forex. For instance many candlestick formations just don't happen in Forex because, being a 24 hour market, Forex does not have gaps in price except occasionally over a holiday. And so much of stock TA involves volume which is a data that just isn't available in Forex. Mr. Schlossberg has done the trading world a huge service by providing so much information on trading techniques that are specific to the currency market.

What I like about this book is the descriptions of actual trading techniques that can be applied to pretty much all time frames. Of particular interest is the scaling-in techniques used to minimize losses, money management and some clever uses for Bollinger Bands. In fact I'm trying out one of those BB setups on a 40 tick chart of the Euro and seems to work great.

The autor choosed the most effective tools for forex market to the day traders. The technical implication of the tools in trading and money management very well combined. Also the book helps the traders to feel the power of their mind as the main tool to gain of the forex game.

I loved the way Boris explains his thoughts in all chapters. The book was written in a way that we all enjoy reading and can learn a lot from it. I will recommend it to my fellow traders

This book is worth its weight in gold. I now place more of an emphasis on Daily charts. The application of Bollinger Bands and MACD to both enter and exit winning precise trades in 4X is uncanny. I had not used these indicators before reading the book ---and most of my trading colleagues had not either. You can put the information in this book to use immediately. Boris writes in a very clear style. I would rate this book at the very top in my 4x library. Bruce Knudson, Cape Coral, Florida