Good Forex Book Recommendation
June 30, 2009 by Kelvin
Filed under Forex Books
The New Science of Technical Analysis
One of The Best Forex Book Around!
I have bought numerous forex trading books and I find some that are very basic with information that can be found anywhere online while there are some that are very detailed and useful for new traders who have no forex strategies to trade with.
Therefore, I will also be sharing with you reviews for some of the best forex book that I have read so that you can grab one for yourself to increase your knowledge about forex trading.
In this post, I will be talking about this book by Tom Demark which will be teaching you about how to draw trendline. There are alot of books in the market that teaches you how to draw a trendline but there is no one that does it better than Tom.
Tom Demark trendline is a dynamic trendline that will change with the price. Unlike those normal trendline that is static, Tom Demark trendline is very accurate and you will find that price almost always respect the trendline Tom teaches you to draw. The reason why Tom came out with this method of drawing trendline is because he used to communicate with his trading buddy over the phone and he found that they often draw different trendlines from each other and it makes them confuse when they are talking over the phone on the chart. Therefore he came out with this standard way of drawing trendline that is widely used today by professional traders around the world.
Pros
- You can learn very detail and accurate method to draw trendlines
- You can learn how to do an accurate price projection using the Tom Demark trendlines
- You can learn other useful technical analysis for your trading
Cons
- Because of the amount of detail Tom wanted to share with his reader, you will find the book somehow too technical and hard to understand at some area. Personally, I read the book two times to really understand how to draw the Tom Demark trendline and other powerful technical analysis stuff but you will find the effort worthwhile when you are trading.
Overall Comment
One of the best forex book I have read. Great and detail information for any serious traders. Definitely worth getting one.
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