Spread betting lends itself especially well to charting tools, but getting properly acquainted with the ones that are going to be most helpful to your trading is rarely a simple process.
You can take your chances on the web, or pour your money into the pockets of seminar organisers, and still be left without a really full and practical idea of a tool?s potential.
This is what makes Malcolm Pryor?s 7 Charting Tools for Spread Betting such a valuable book.
The author has elsewhere written the definitive guide to spread betting, and a number of strategy books/DVDs. Here he takes the same thoughtful and incisive approach to setting out a range of valuable charting tools ? and demonstrating how they work through detailed and often compelling examples.
The tools in question are ATR, Directional Movement, Moving Averages, Support and Resistance, Oscillators, Relative Strength and Momentum.
Each chapter takes the reader through a detailed look at how the tool in question is constructed, then at its strength and weaknesses. After this, the tool?s available settings and potential uses are laid out, followed by an in-depth worked example of it in action.
Pryor is a great writer of plain and logical prose, even when explaining some quite abstruse concepts, and these chapters are brilliant introductions or refreshers to potentially turgid topics.
With the advice steadfastly practical throughout, you?ll be itching to incorporate some of these gems into your own trading and reap the rewards. And thanks to this book, that?s no longer a difficulty.
