Review
“Technical Analysis for Beginners” by A.Z Penn is a comprehensive guide to understanding the basics of technical analysis and how it can be applied to financial markets. The book is written in a clear and easy-to-understand manner, making it accessible to readers with little to no prior knowledge of the subject.
The book begins by providing an overview of technical analysis, including its history and the different methods used to analyze charts and stock trends. It then goes into detail on how to read and interpret different types of charts, including line charts, bar charts, and candlestick charts. The author also explains various technical indicators, such as moving averages, relative strength index (RSI), and Bollinger Bands, and how they can be used to make better trading decisions.
One of the strengths of this book is its emphasis on practical application. The author provides many examples and case studies of how technical analysis can be used to identify buying and selling opportunities in the stock market. He also includes a section on risk management, which is crucial for any trader, regardless of their experience level.
The book is also geared towards beginners as it provides a step-by-step guide on how to set up a trading account and how to place trades using different types of orders. The author also covers the basics of fundamental analysis and how it can be used in conjunction with technical analysis to make more informed trading decisions.
Overall, “Technical Analysis for Beginners” is an excellent guide for anyone interested in learning about technical analysis and how it can be applied to financial markets. The author does an excellent job of explaining complex concepts in a clear and easy-to-understand manner. The book is also well-organized, making it easy to find the information you need.
It is worth mentioning that the book is written with an underlying focus on increasing $1k to $10k with zero trading experience. It is not an unrealistic goal but it’s not something that can be achieved by just reading the book. Trading requires knowledge, skills and experience and while the book is a good starting point, it should not be the only source of information. Additionally, the book is not providing any guarantee on the mentioned returns and it is important for readers to understand the risk involved in trading.
In conclusion, “Technical Analysis for Beginners” is a valuable resource for anyone interested in learning about technical analysis and how it can be used to make better trading decisions. It is well-written, easy-to-understand, and provides practical examples of how technical analysis can be applied to the financial markets. It is a great starting point for beginners, but it’s important to remember that trading requires knowledge, skills, and experience, and it’s not a guaranteed way to make a profit.
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