2Bull Forex Blog

Many traders simply buy e-books from people with no trading experience however for just 20 bucks you can learn from a trader who has walked the walk and made millions - Pit Bull by Marty Shwartz is simply essential reading…

This book is one that will inspire you and its been one of my favorites for many years.

It always amuses me when novice traders buy over priced e-books from traders who have never made money yet for a lot less, they can pick up investment classics like this and were talking a trader who has walked the walk and made Millions.

It’s worth it For This Alone!

One of the best bits of the book is the “The Pit Bull’s Guide to Successful Trading” in 30 pages, for those seeking a quick insight into Schwartz’ success on the markets these pages are great. Schwartz outlines the tools and market analysis services he uses and some of his techniques.

An Insight from a True Pro

In Pit Bull, you get an idea of how Marty Schwartz became a champion trader.

He outlines how he struggled before getting some breaks that have now made him into the millionaire trader. Schwartz tries, to teach the reader how to apply some of his formula to make them successful.

It’s Amusing To!

If you enjoy books on trading that are interwoven with the story of someone’s life you will love this book. The book makes you sometimes laugh out loud, his language is crude and he constantly brags about his gains, so what you get is Buzzy Shwartz as he is - totally honest and talking straight.

The story of Buzzy Schwartz is fun to read and will motivate you to become a trader.

Schwartz provides advice for those who hope to become successful traders and some of ideas rubbed off on me and some will influence you to. Whether you believe all the author has to say or not, (and many won’t) this book is hard to put down and you will soon race through its 320 pages.

In all a great book, from a true champion trader and one that anyone serious about making money in the markets should read.

The above describes the theme of a book by Melvin Pasternak and it tells you the best 21, of over 100 candlestick patterns which you can see or use on a forex chart. If you love candlestick charting or you want to learn, this book is a good place to start and at just $20.00 it’s a steal.

Pasternak claims that by Knowing these 21 formations traders can gain a trading edge. There are those that occur most often and are more reliable and there are those that are warning signs of turning points.

Why are Candlesticks such a great Trading Tool?

The reason lies in the fact that they paint a picture on a chart.

This give you a more visual illustration of human psychology than a bar chart ever can. Candlestick charts bring human emotion to life right before your eyes and that’s a good advantage to have, to initiate new positions or as a warning to cut and run!

A deep insight into human psychology

The answer can be found in the clear and straight-forward nature of the candlesticks themselves-offering traders the ability to see the bigger picture.

Continuation patterns, reversal patterns, emerging trends, bottom and tops — all of these insights come together in a way that other charting systems just can’t compete with.

The book explains the following:

- About the candlesticks (21 formations) every trader must know by name
- Discover the candlesticks that occur most often
- Learn about the candlesticks that will immediately affect your trading decisions
- Find out how to increase your accuracy and trade with greater confidence.

Candles combine well with other tools of technical analysis such as support and resistance, moving average, and indicators such, stochastics, RSI, ADX and MACD to name but a few.

I think Paternick’s choice of candlestick patterns is excellent and if you like the idea of candlestick charting, or are trading with them already, then this book will appeal to you.

Candlestick charts have been used for thousands of years and it’s only in the eighties that they became popular again and let’s hope that they stay popular. There fun, easy to use, can give you a deep insight into human psychology and if you are using forex charts - that’s just what you need.

21 Candlesticks Every Trader Should Know, is 128 pages, an easy read and at a price of just under $20 it’s a bargain.

This is one of those books that is an essential for all traders we all know technical analysis can work and forex charts are a great way to make money - but which 7 chart patterns consistently make money? That’s the subject of this book and its essential reading for trader’s both novice or pro.

Omni Trader founder Ed Downs reveals the 7 best formations and the reasons why.

What attracted me to the book was some of the chart formations he picked and saucer formations caught my eye.

When I first started trading 5 years ago, I used saucers as a cornerstone of my trading arsenal and still do - but how many traders use them today, or even know what they are?

Not many, yet it’s a powerful formation and learning to use it correctly, is worth the price of this book alone.

7 Chart Formations for Profit

I personally don’t agree with all his chart patterns (6 of them I do though!) but the book itself is a great idea and most of the chart patterns I have been using for years and they have consistently made me money too.

The book covers the following formations:

Support and Resistance, Trend line Break and saucer formations Fibonacci retracements gaps -breakaway, measured, exhaustion, volume climax, volume trends and consolidation patterns - flags and triangles.

An Under Rated Formation!

I found all the above interesting, helpful and informative and in addition to saucers liked his view on gaps. I love trading gaps; many traders hate them and think it’s dangerous to trade them. I have always made money with them and learned something new from Ed Downs ideas on them.

Applying knowledge for Profit

Downs doesn’t just share his info on the chart formations, he also goes into detail on how to spot the formations and profit from them using correct market timing.

The books also shows you how to Master money management techniques-including setting Profit Targets, Stop Loss levels and how to determine the risk/reward for each and every, trading signal you place.

Today, traders don’t want to just trade chart formations, there seen as old school by many - but there not.

We all know human nature is constant and this means that certain chart patterns repeat and repeat. Some of course are more reliable than others and this book tries to give you the best ones and how to make money from them.

Personally I liked 6 out of the 7 and gaps and saucers, I have used for years yet the book taught me new things about these chart formations and also gave me a greater insight into the others discussed.

Get this book - it’s not strictly a currency trading book and is applicable to all traders.

Get 7 Chart Formations That Consistently Make Money and will find that your increased profitability will pay for the book in just one trade. A great book for any traders library.