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**Title:** Three Lines Forecasting Forex Price Action
**Author:** 
**Published Date:**
**Type:** #litnote 
**Topics:** [[Other/Obsidian Starter Vault(Second Brain)/003 RESOURCES/Trading]] [[💹Stock Market]]

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> “The market does not know if you are long or short and could not care less. You are the only one emotionally involved with your position. The market is just reacting to supply and demand and if you are cheering it one way, there is always somebody else cheering it just as hard that it will go the other way”- Marty Schwartz

# What's this book about?
A trader either loses or makes money. Trading is simple. All you need is to hit the buy or sell button. But, making money trading is not an easy job. This book will give you clear ideas of when to buy, sell and protect yourself from making bad decisions and give you tips on when to get out. It will help you make trade without greed or fear. There are two kinds of analysis: technical and fundamental and this book is for those who want to trade using technical analysis.

# What is technical analysis
Fundamental analysis is the study of all the factors that may influence the market. But technical analysis is the study of the price movements and and their relationship. It is used t find a sort of geometry in prices in different forms. Technical analysis forecasts the future movements based on the past price movements. It is the study of price actions, patterns and volume.
# Types of Traders
- Basically there are four types of traders: scalping, day-trading, swing, and position
	- [[Other/Obsidian Starter Vault(Second Brain)/🍀Permanent Notes/Scalping trading]]:
		- They use the shortest time frame
		- They enter and exit multiple times in a continued trend
		- They are okay with making a small profit and exit the trade
		- You must be impatient, and be able to change your mind frequently 
	- [[Other/Obsidian Starter Vault(Second Brain)/🍀Permanent Notes/Day Trading]]
		- Traders enter and exit within a day. They don't hold their position overnight
		- They wait for good opportunities and enter the trade longer than scalping taders.
		- It is good for people who have time to analyze, execute, and monitor trades.
	- [[Other/Obsidian Starter Vault(Second Brain)/🍀Permanent Notes/Swing Trading]]
		- Swing trading attempts to capture gains by holding positions for several days to months
		- They identify the trends, look for the fundamentals as well as price action, trends and patterns
		- This is not for those who are impatient and like to jump in and out of trades frequently
	- [[Other/Obsidian Starter Vault(Second Brain)/🍀Permanent Notes/Position Trading]]
		- Trades can last from few months to years
		- They set high profit targets and are alert to fundamental changes in the market
		- This one is also not for the impatients.
		- Usually portfolio managers, and hedge fund managers engage in position trading

# Charts 
Charts are the cores pf technical analysis. Tradres mainly use three kinds of charts: A-line, bar and candlestick charts.