Trading Technical Analysis (MasterClass)

Trading journal, Edge Wonk. His thorough understanding of price action trading, 15 years of experience and attention to detail are all evident in his work. While you can learn a lot about the markets by studying his infographics online, this book takes it a step further by explaining the timeless principles of technical analysis that measure the emotions and trends of the market. It'll Start Es how to trade price action and demystifies chart patterns with a common sense approach. It's important to realize that there's more to trading than memorizing patterns. It's critical that traders learn to manage their risk and their emotions for long-term success, and Rolf does a great job of sharing these principles and making them applicable to technical chart analysis in all financial markets. Rolf set out to write the trading book he wished he had when he started his trading journey 15 years ago, and in the process, he created the book that every new trader will be thankful for.

Steve Burns

Trading stocks, currencies, futures, options and other financial contracts are not actually complicated and anybody can learn it in a relatively short time. This has been my daily experience for the past decade and even traders who have tried everything for years without success can potentially make their first profits if the art of trading is explained to them in the right way. However, the keyword “in the right way” is important here.

Trading stocks, currencies, futures, options and other financial contracts are not actually complicated and anybody can learn it in a relatively short time. This has been my daily experience for the past decade and even traders who have tried everything for years without success can potentially make their first profits if the art of trading is explained to them in the right way. However, the keyword “in the right way” is important here.

On the one hand, I would like to make it easier for new traders to enter the world of financial markets and technical analysis and, on the other hand,I want to show experienced traders a more effective approach to chart reading so that those will also benefit from the trading strategies and tips outlined in this book.

This book focuses on technical analysis, explanation and interpretation of price movements and chart patterns as well as on learning effective,ready-to-use trading strategies. However, it is important to go beyond the usual technical analysis and to analyse the behaviour of traders based on psychological factors and phenomena of mass psychology as well.

The price movements on the international financial markets arise because millions of people interact with each other every day. Buying and selling decisions are influenced by emotions and human behavioural patterns. Whether we are looking at a speculator from China 200 years ago, a Wall Street pit trader from New York 80 years ago or a modern-day "Joe Bloggs trader”, trading from his/her smartphone - the human components,i.e. emotions and instincts, hardly differ. Greed, fear, uncertainty and the willingness to take risks have determined human actions for millennia and, of course, also how people have manoeuvred their money around the world's

markets for decades. Those who learn to read the buyer and seller interaction from the charts will be able to read and handle any price movement, on any financial market and in all time frames. This is true because all price charts follow universal and timeless rules that can be successfully interpreted with the help of effective technical analysis.

Most trading books and websites recommend that traders memorise certain price patterns and formations and call this technical analysis. But such an approach only promotes stereotyped thinking which, however, is not expedient and can even have negative consequences. The financial markets are dynamic and no two price movements are identical. Memorisation limits the trader only to the patterns they have learnt. What a trader really needs instead is a step-by-step education that enables him/her to interpret and correctly classify every possible scenario.