Chart Your Way To Profits: The Online Trader's Guide to Technical Analysis with ProphetCharts
Technical analysis is the study of past price movement for the purpose of predicting future price movement. If done correctly, it can lead to substantial trading profits. But making money in the market isn't easy. No one knows this better than author Tim Knight, who has been charting and trading the financial markets for more than twenty years. The company he founded, Prophet Financial Systems (now owned by TD Ameritrade), was ranked for years as the number-one site for technical analysis by both Barron's and Forbes.In the first edition ofChart Your Way to Profits, Knight showed how to use the powerful technology available online in conjunction with technical analysis to analyze markets and make the most profitable trading decisions possible. Now, in this revisedSecond Edition, he offers many new technical tools for tracking individual stocks and also shows you how to use ProphetCharts® to do advanced intermarket technical studies to identify the best opportunities.Written in a straightforward and accessible manner,Chart Your Way to Profits, Second Editionintroduces the ProphetCharts® application (accessible to anyone with Internet access and an account), which allows you to perform your own analysis with the help of hundreds of real-world examples. Along the way, you'll also become familiar with some of the most important rules of sound trading. The author examines a variety of chart types, highlights essential indicators, explores numerous analysis methods, and offers a wealth of in-depth insight and practical advice throughout the book.No matter what you trade, technical analysis can make you a better and more profitable trader. Price charts will consistently provide the most complete representation of the supply and demand behind any financial instrument because everything that can be publicly known or speculated is already built into the graph. Through the ups and downs of financial markets, technical criteria and charting allow traders to be completely objective in their assessment of price action, while leaving emotion out of the decision-making process.Chart Your Way to Profits, Second Editioncan help you do the same, as it shows you how to combine technical analysis with powerful online tools to achieve trading success.