دانلود کتاب تحلیل تکنیکال برای مبتدیان، جلد پنجم

The technical analysis industry is expanding at an exponential pace. An Internet search will yield billions of responses. Don’t be intimidated. In this fifth edition of Technical Analysis For Dummies, I cover the core concepts, most of which you could apply today with no further research. If you explore the most advanced of those billions of Internet entries, you will be prepared by having read this book. Technical ideas range from the simple to the tremendously complex. I cover the core concepts that are the building blocks of all, or nearly all, of those tremendously complex systems. It’s up to you to choose to stay with one or two simple ideas or forge onward to the complex. There is no single best technical idea or combination of ideas, for reasons I explain. Sometimes, a few simple technical ideas suffice to deliver trading gains. Technical analysis is not only a set of tools. It’s also a mindset, a way of looking at securities prices and how they wag and what wags them. The first principle of the technical mindset is to embrace trading what you see on the chart. Technical analysis is an evidence-based method of making trading decisions. To select what you want to trade, you may consult earnings per share, cash flow, management quality, or any of the other fundamentals that lead to an assessment of value. To place the buy and sell orders, though, you will use only technical analysis. There is nothing wrong with value investing, and technical analysis is not an enemy of value investing. But value investing would have you continue to hold a high-value security despite a big drop in price. Technical analysis traders will sell it, knowing they can always buy again after indicators identify the price bottom. You may prefer to keep only high-value names in your portfolio and winnow the portfolio for changing value. Once you have done that, you set aside the intrinsic value of the securities and focus only on the gain you expect to make in each security. Beating the system is fun and rewarding. The market doesn’t know you, your age, gender, ethnicity, good looks or lack of them, singing talent, or anything else about you. The market is blind. In fact, the market is indifferent. It’s the one place you can go to be judged solely on your merits. Use this book to help you find your way. The good news is that For Dummies books are designed so that you can jump in anywhere and get the information you need. Don’t feel that you have to read every chapter — or even the entire chapter. Take advantage of the table of contents and index to find what you’re looking for, and check it out. Here are a few tidbits that may answer some questions before you jump in: » Technical analysis leads you to observe prices in a new way and to make trading decisions based on reasonable expectations about where the market is going to take the price. » Each trade has two parts: the price analysis and you. Price analysis tools are called indicators, and you have to select the indicators that match your personality and risk preference. But most people don’t know their risk preference when they start out in securities trading (which changes over time, anyway), so you have a chicken-and-egg situation. By studying the kinds of profit-and-loss outcomes that each type of indicator delivers, you can figure out your risk preferences. » The price bar and its placement on the chart deliver a ton of information about market sentiment. It doesn’t take much practice to start reading the mind of the market by looking at bars and small patterns. The payoff is cold, hard cash, but you have to be patient, imaginative, and thoughtful. » Indicators are the prime tools of technical analysis. They help you identify whether your price is trending, the strength of the trend, and when the trend is at a reversal point. Applying these indicators carefully and consistently is the key to trading success. » You don’t have to be math-competent to do excellent technical analysis and make significant profits. » Technical analysis is a form of quantitative analysis. Behind every fancy, complicated hedge fund system run by quants are the very core concepts I present here. It’s how the quants put these factors together into a system that gives the hedge funds their edge. You can acquire the same edge.