Good Book For Technical Analysis

Discussion in 'Technical Analysis' started by tradermike79, Jan 5, 2010.

  1. I've been trading equity options for a few years now and am Interested in expanding my technical anslysis skill set. I have taken some seminars etc on the subject, but would appreciate a good book someone could recommend that surveys all the major methods and gives decent depth to each subject. Thanks in advance.
  2. Edwards and Magee, Martin Pring, or John Murphy.
  3. Thanks for the reply. Any particular titles by these authors that you like?
  4. No in fact I don't think any will help you necessarily make you money I was just responding to your request. The trading world has changed much since any thing in TA was written frankly. I spend a lot of time at traderslaboratory dot com because I have found trading volume positively aguments traditonal TA, but many on this forum don't agree with my view. Trading is so wide and varied you have to find what works for you as you know.
  5. There's no "one book" that surveys all the known TA methods. You're talking about 100's of different TA methods involving indicators and price action only (no indicators) and I've never heard of such a book.

    If there was such a book, at best it can only briefly describe a method like a dictionary along with showing one chart example. Instead, I recommend you determine what your trading instrument will be and then look for TA methods associated with your trading instrument or a particular type of trading style (e.g. scalping, day trading, swing trading or position trading).

    Simply, each subject is a book itself if your looking for decent depth on the subject which implies you're interested in more than just the entry signal via stuff associated with the TA method such as initial stop/loss placement, trailing stop management, profit targets, exit signals et cetera.

    However, once you determine which type of TA method you want to use...start looking for in-depth forum discussions on that TA method which implies you may need to join several different forums to get a more rounded perspective from traders struggling or doing well with a particular type of TA method.

    Regardless, profitable traders using TA are using more than just's just one chapter in their own personal book of profitable trading. Thus, I've never met a trader that's consistently profitable via TA alone with no other inputs in their trading plan.

  6. Read David Aronson's "Evidence" book on TA. There are others, but it does not give a favorable light on using classic TA stuff...