Book : Forecasting Financial Markets: The Psychology of Successful Investing
The ability to make money in the world’s financial markets depends critically on an individual’s ability to make decisions independently of the crowd. To attain such independence, the investor or trader must acquire the capacity to understand the forces at work in logical terms, recognize (and neutralize) any emotional responses to market fluctuations, and design an investment process or trading system that generates objective ‘buy’ or ‘sell’ signals. This fifth edition has been completely updated to take the author’s latest research into account, providing the reader with an in-depth assessment of the phenomenon of cycles, patterns of economic and financial activity, and using cycles as a forecasting tool.
Review
“A brilliant, original, insightful work… deserves to be read by all serious technical analysts.” — “Futures” Magazine “This book will entertain and intrigue keen investors.” — “Financial Times ” “This book will entertain and intrigue keen investors.” — “Financial Times ”
Book Description
This book will entertain and intrigue keen investors
Financial Times
A brilliant, original, insightful work… deserves to be read by all serious technical analysts
Futures Magazine
As clear cut and easy-to-read an introduction as one could want
The Independent
Unshackles the emotional factor from serious investment decision-making
About the Author
Tony Plummer has worked in the financial markets since 1976, and his experience covers a broad range of financial instruments, from global fixed interest products to foreign exchange markets. He now concentrates on independent research into the patterns and rhythms of global markets, and travels globally to lecture on crowd psychology and technical analysis.
Excerpt. © Reprinted by permission. All rights reserved.
Part One: The logic of non-rational behaviour in financial markets
1 Wholly individual or indivisibly whole
2 Two’s a crowd
3 The individual in the crowd
4 The systems approach to crowd behaviour
5 Cycles in the crowd
6 Approaches to forecasting crowd behaviour
Part Two: The dynamics of the bull-bear cycle
7 The stock market crowd
8 The shape of the bull-bear cycle
9 Energy gaps and pro-trend shocks
1 The spiral and the golden ratio
11 The mathematical basis of price movements
12 The shape of things to come
Part Three: Forecasting turning points
13 The phenomenon of cycles
14 The threefold nature of cycles
15 Economic cycles
16 Recurrence in economic and financial activity
17 Integrating the cycles
18 Forecasting with cycles
19 Finding cycles: a case study
2 Price patterns in financial markets
21 The Elliott wave principle
22 Information shocks and corrections
23 The confirmation of buy and sell signals
Part Four: The trader at work
24 The psychology of fear
25 The troubled trader
26 The psychology of success
27 The mechanics of success
28 Summary and conclusions
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