How to Beat the Market Makers at Their Own Game: Uncovering the Mysteries of Day Trading (Wiley Trading) by Pugliese Fausto

How to Beat the Market Makers at Their Own Game: Uncovering the Mysteries of Day Trading (Wiley Trading) by Pugliese Fausto

Author:Pugliese, Fausto [Pugliese, Fausto]
Language: eng
Format: epub, mobi
ISBN: 9781118745656
Publisher: Wiley
Published: 2014-07-27T23:00:00+00:00


FIGURE 11.8 Daily Bar Chart

Believe it or not, this is all you need to know about reading stock charts. Sure, there is much more to technical analysis, but for our purposes (making our day's pay), it simply isn't necessary to get into that level of detail. Simplicity is the golden goose in active trading.

If you've studied technical analysis in any level of detail, you're probably asking, “Hey Fausto, what about indicators?” My response to you is, “What about them?” Indicators are completely irrelevant to our purposes—most market makers don't even use them.

To illustrate, let's take a look at Figures 11.9 and 11.10.



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