Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Pervert Trading: Advanced Candlestick Analysis
    Pervert Trading: Advanced Candlestick Analysis
    Pervert Trading: Advanced Candlestick Analysis
    Ebook136 pages1 hour

    Pervert Trading: Advanced Candlestick Analysis

    By Thovhedzo Thomani

    2/5

    ()

    Read preview

    About this ebook

    This is an advanced guide to price action trading. Throughout the book, we embark on a journey, where we pretend to be perverts, spying on the naked bodies of candlesticks, so as to understand why and how they behave in relation to market conditions at a given time. This is one skill that will take you from where you are right now, to somewhere much better in your trading career. Combining the candlestick patterns with all forms of support and resistance levels will help you filter the fake signals generated by candlesticks alone.
    My favorite part is the chart patterns. The bazookas. These are the main lotto ticket to the private jet you have always dreamed about. Only if you use them correctly. Otherwise you might as well find yourself drowning in deep hot waters.

    LanguageEnglish
    PublisherThovhedzo Thomani
    Release dateAug 12, 2020
    ISBN9781005916978
    Pervert Trading: Advanced Candlestick Analysis
    Author

    Thovhedzo Thomani

    Thovhedzo Thomani is a professional trader who started his journey of currency trading about five years ago. My step into the Forex world came about after I lost my job which by then was my only source of income. It was quite a bumpy road to get to where I am right now.The most huddle I had to go through was the education needed to start trading profitably. I did not have any money to pay for the expensive courses, hence I had to take the long route and teach myself. I could say being broke by then is the best thing that ever happened to me. If I had the money to enroll to a trading course, I wouldn't have the knowledge I have now. I would have simply taken the knowledge of whoever was teaching me and end there. Nothing beats self education.Today i am trading a funded account from one of the top trading institutes in the world.

    Read more from Thovhedzo Thomani

    Related to Pervert Trading

    Related ebooks

    Investments & Securities For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Technical Analysis Tools For Long-term Investing

      Oct 30, 2020

      in the 22 October issue of finweek, I wrote about how I am trying my hand at trading local equities for the first time in over a decade. Some aspects of my index trading have helped (discipline and risk management), but stocks are more volatile and n

      2 min read

    • Article

      He Learned to Trade for Profit - and Can Teach You, Too

      Jan 31, 2019

      Raymond Rondeau, 55, of Exeter, R.I., is a trader, president of the New England American Association of Individual Investors chapter, and creator of AAII's new course, "Investing Strategies and Technical Analysis." When did you start trading? I began

      2 min read

    • Article

      How Investors Can Prosper With Technical Analysis

      Feb 6, 2019

      Many investment advisors and money managers have a little secret. They will proudly tell you that they rely heavily on fundamental analysis, carefully weighing earnings, market share, competitive environment and demographic trends to select the best

      5 min read

    • Article

      Discipline Goes A Long Way

      Mar 31, 2022

      The life of a trader is not what most of us might imagine it to be – that is, glamorous, exciting and paved with gold. More likely it is solitary, private, a bit boring and, when done right, provides a living. We could all be traders. We could all be

      5 min read

    • Article

      Are You Gambling or Investing? Here’s How to Tell

      Mar 2, 2021

      Investing in the stock market over many decades offers most people an incredible opportunity to build wealth. Does that surprise you? If so, you’re not alone. Over the course of my career as a financial planner, I’ve found that many people look at th

      4 min read

    • Article

      A Better Way To Tell A Correction From A Bear Market?

      Nov 30, 2018

      The standard definition of a correction is a 10% market decline, while a bear market is a 20% decline. These are simple definitions ... I take a different view. At Cornerstone, we view a correction as a significant decline within an up trend. Th

      3 min read

    • Article

      RSI Alone Not Enough

      Sep 18, 2020

      oscillators, such as the relative strength index (RSI) and stochastics, are often used as signals for overbought and oversold zones. Let’s use the RSI as an example. Generally, an RSI set on 14 days is considered over-bought above the 70 level, but t

      1 min read

    • Article

      The Magic of Moving Averages

      Jan 31, 2019

      When price charts begin to look like jagged mountain ranges, it can be hard to map out which way stocks are headed. Enter the simple moving average. The tool is a staple of technical analysis--the practice of determining the direction of stock prices

      2 min read

    • Article

      How to Make Market Volatility Work for You

      Apr 5, 2018

      There are more certainties in life than just death and taxes. For instance: If you invest money in the stock market, you certainly will face market volatility now and then. Periods of high volatility are normal. Investors need to understand that life

      4 min read

    • Article

      Learn How To Spot A Rip-off

      Feb 24, 2021

      Learn How To Spot A Rip-off
      3 min read

    • Article

      What Is Forex Trading?

      Mar 1, 2022

      What Is Forex Trading?
      6 min read

    • Article

      Maintaining A Recovery?

      Jan 22, 2021

      Maintaining A Recovery?
      1 min read

    • Article

      Breakout Is Possible

      Jan 10, 2020

      Breakout Is Possible
      1 min read

    • Article

      Change In Sentiment

      Oct 2, 2020

      Change In Sentiment
      1 min read

    • Article

      Trading Techniques... Riding Elliot Waves

      Nov 5, 2021

      One trading technique that has achieved a cult-like following in recent decades is Elliott wave theory. Developed by the accountant and consultant Ralph Nelson Elliott, who first published his ideas in 1938, the basic idea is that markets, like all h

      1 min read

    • Article

      Rogue Trader

      Jun 5, 2020

      Rogue Trader
      10 min read

    • Article

      Thinking About Day Trading? Read This First

      Sep 22, 2020

      In the midst of the pandemic, you may have noticed a rather unusual trend: More and more people are jumping into the stock market. Despite, or perhaps even because of, extreme volatility in the market and endless speculation about what could happen n

      3 min read

    • Article

      How To Count Your Losses

      Nov 15, 2019

      in the previous issue (7 November), I wrote about trading, and in particular about gearing via the use of derivatives, as well as what we should (or shouldn’t) be trading. I promised to return to the other two parts of the equation: How to employ a s

      3 min read

    • Article

      Chart Your Way To Success

      Aug 25, 2022

      Chart Your Way To Success
      8 min read

    • Article

      Data Analysis In Numbers

      Mar 1, 2022

      Data Analysis In Numbers
      2 min read

    • Article

      Data Analysis In Numbers

      Jan 11, 2022

      Data Analysis In Numbers
      2 min read

    Related categories

    Reviews for Pervert Trading

    2/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Pervert Trading - Thovhedzo Thomani

      Pervert Trading

      Advanced Candlestick Analysis.

      By

      Thovhedzo Thomani

      Copyright 2020 Thovhedzo Thomani

      Smashword Edition

      Overview

      Probably the most popular and successful method of making decisions and analyzing the forex markets is technical analysis. Most traders prefer technical than they do fundamental analysis in their trading plans.

      The difference between technical and fundamental analysis is that technical analysis ignores fundamental factors and is applied only to the price action of the market (charts). The idea behind this is that, whatever changes in price that are caused by fundamental factors, will end up being printed on the charts. Even the so called fundamental trader, will still need to refer to the charts to confirm his analysis.

      Technical analysis has become the primary tool to successfully analyze and trade shorter-term price movements, as well as to set profit targets and stop-losses, because of its ability to generate price-specific information and forecasts. It gives the trader the ability to react to what the whole market is doing at a given time. With that in mind, the trader is usually confident and satisfied about their trades, since they are going in the direction of the current momentum of the market. The fundamental trader on the other hand usually try to predict the moves before they happen, based on the economic data releases, which can give them an advantage if their prediction is properly backed up by evidence on the charts.

      Since the fundamental trader would still need to confirm their analysis on the charts that technical traders solely rely on, most traders has considered technical analysis as the most reliable method.

      Unlike in the other markets such as the stock and futures, where volume and open interest is available, technical analysis in the forex markets focuses on the four price fields available during any given period of time: open, high, low and close. It consists primarily of a variety of technical indicators, each of which can be interpreted to predict market direction or to generate buy and sell signals.

      Many technical indicators share one common important tool: a price-time chart that emphasizes selected characteristics in the price motion of the underlying instrument. One great advantage of technical analysis is its visual aid. You trade what you see, not what you think will happen. If you don’t see it, don’t trade it. It’s as that simple in technical analysis.

      Technical analysis is mainly the study of price movement.

      •In one word, technical analysis = CHARTS

      •The idea is that a person can look at historical price movements, and, based on the previous price action, can determine at some level where the price will go.

      • By looking at charts, you can identify trends and patterns which can help you find good trading opportunities.

      The most IMPORTANT thing you will ever learn in technical analysis is the trend. Almost every trader will tell you that, The trend is your friend until it bends at the end. Although that sounds like a punchline in a Busta Rhymes rap song, it is as a matter of fact true.

      •The reason for this is that you are much more likely to make money when you are able to find a trend and trade in the same direction as the trend.

      •In actual fact, trading against the trend is the same as jumping in front of a moving train.

      •Technical analysis can help you identify these trends in their earliest stages and therefore provide you with very profitable trading opportunities. Isn’t that awesome?

      It’s nothing complicated as long as you know what you are looking for in the charts, which is what I will teach you right here. Stay tuned

      Trust me when I say, after going through this textbook, your tool box will be full of enough useful tools that will help you build your empire.

      Hey, I don’t mean the kind of tool box a handyman needs for plumbing, but a toolbox of what you will use to build your trading account. It still have a hammer and a pair of tweezers though, but trust me there are no spirit levels in there. The more tools (education) you have in your trader’s toolbox (YOUR BRAIN), the easier it will be for you to build a private jet in a few days. (How I wish)

      Throughout the book, you will learn one of the most accurate tool used by a lot of traders to make a living in the forex market, price action. Price action is regarded as the best and most reliable form of technical analysis.

      Since technical analysis is all about charts, let’s look deep into these charts and see what they offer you as a technical trader.

      CHAPTER 1

      Types of Charts

      As in most financial markets, the forex market also spoils its traders with a choice of charts to trade off from. There are three basic chart types you can use for your trading.

      Line charts

      •A simple line chart involves plotting only the closing prices of the instrument at a given time and join them with a single line.

      •When strung together with a line, one can see the general price movement of a currency pair over a period of time.

      •Line charts do not give the trader so much information since it ignores the other three price fields (open, high and low), which are as important in price action analysis

      •Line charts are important when you want to filter market noise (which we will discuss later)

      You may think of line charts as the Secret Services guy who do not give off much information to anyone. However, even though the guy is so secretive, keep his contact details in case of emergency.

      Here is an example of a line chart for EUR/USD:

      Bar Charts

      •A bar chart also shows closing prices, while simultaneously showing opening prices, as well as the highs and lows.

      •The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price traded.

      •So, the vertical bar indicates the currency pair’s trading range as a whole.

      •The horizontal hash on the left side of the bar is the opening price, and the right-side horizontal hash is the closing price.

      •This is much if not enough information to work with when analyzing price, unlike line charts.

      Bar charts are also called OHLC charts, because they indicate the Open, the High, the Low, and the Close for that particular currency pair.

      Here’s an example of a price bar:

      •Open: The little horizontal line on the left is the opening price

      •High: The top of the vertical line defines the highest price of the time period

      •Low: The

      Enjoying the preview?
      Page 1 of 1