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GETTING STARTED IN TECHNICAL ANALYSIS
Trading success cannot be capsulized in a simple indicator, for- mula, or system the pronouncements of countless books, adver- tisements, and brochures notwithstanding. This book is written by a trader, from a trader's perspective, rather than being yet another com pendium of analytical techniques, indicators, or systems, using idealize illustrations.
In explaining various analytical techniques and methods, I have tried to keep in the forefront key questions that are often ignored by writ ers of books on technical analysis: How can the methods described be ap- plied in actual trading? What works and doesn't work in the real world? What are the implications of a method's failure? How can trading systems be designed and tested to maximize their future performance rather than their past performance?
This is a practical book. I have used many of the methods described in this volume to construct a very profitable trading approach-yes, with real money. Why then am I willing to share this information? Because, to use a building metaphor, I am supplying the tools, but not the architec- tural design that is left to the individual reader. I believe that readers who are serious about using technical analysis to become more successful traders and who understand that this goal requires individual work will find much here that is useful.
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