Technical Analysis from A to Z, 2nd Edition
By Steven Achelis
Steven Achelis puts together a comprehensive resource in this volume, brimming with information about technical analysis, its rise to prominence, and technical indicators for market use.
Author Steven Achelis is an experienced analyst and software designer, responsible for MetaStock -the most widely used trading analysis program in the world. Steven aims to educate users of all levels with Technical Analysis from A to Z.
The book itself is essentially broken apart into two main parts, the first part being an introduction to the world of technical analysis, its history and ts functions, while the second part functions as a reference manual containing the formulas and science behind advanced technical analysis theories.
- In the first chapter, Technical Analysis, Achelis puts together a primer on the business of technical analysis and how it began; Achelis imbues the reader with practical knowledge on how one can make future predictions from studying and interpreting past data.
- In the following chapters, Price Fields and Charts, the author gives aspiring quants a look at how information can be compiled in technical analysis and how it is often input and interpreted for market success. The chapters comprehensively cover tools for creating tangible data to trace market activity.
- Periodicity and The Time Element make up the following two chapters and contain very valuable information on market timing and the seasonality inherent in investing. The chapters will also give an insight into how to arrange and account for a time line in the field of technical analysis.
- The next chapter, Support and Resistance,dives deeper into the common notion of supply and demand, offering information on how traders affect the theory. The chapter brims with revelations on market elasticity and the perpetual entwine of support and resistance.
- The chapters Trends and Moving Averages follow, and impart valuable lessons on interpreting and predicting market trends. The author divulges the time tables which are an essential part of market trends, their relative merits, and educates the reader on the theory of trader’s remorse.
- In the following chapters, Market Indicators and Indicators, the author outlines various indicators that inform the world of trading as well as their divergences. Achelis gives readers a sense of leading verse lagging indicators and trading prices juxtaposed against trending prices. The reader will also gain an understanding of how these trends may deviate and how to account for it when preparing analysis.
- The chapters Line Studies and A Sample Approach, illustrate the ways in which technical analysis is prepared and practiced in the real world. After reading this chapter you will boldly be able to go into the reference section with a full understanding of how all the theories contained in the reference section fit into financial analysis.
The book has been wildly popular among independent traders and aspiring quantitative traders, with readers showing appreciation for the working knowledge they have gained about the stock market through this volume.
Want to better understand the market? Let Steven Achelis teach you the A B C’s with this eye-opening volume.
Reviewed by: William Oscar Updyke