Technical anlysis book

Discussion in 'Technical Analysis' started by GordonHui, Aug 25, 2020.

  1. Which book will you recommend for technical analysis?
     
  2. wrbtrader

    wrbtrader

    It depends on you...

    You a day trader, swing trader, use indicators, price action only (no indicators), trade futures / stocks / forex or what ?

    Next, try Amazon and they have some decent reviews. Get many books...read them all. Keep the ones you like and return back the ones you don't like.

    Good luck.

    wrbtrader
     
    tommcginnis likes this.
  3. tommcginnis

    tommcginnis

    If you truly want to "know" about deriving pattern-discerning traces from market data (an activity that has the unfortunate, and entirely inapt title of "technical analysis"), then
    • forget all of the known books entirely,
    • get yourself an accurate breakdown of the formulae for Appel's MACD and Wilder's ADX, and
    • compute them for yourself.

    It's not that hard. All "T/A" tools contain mathematical variations of the MACD or the ADX, whether those tools were derived before them or after. Each requires some degree of parameter-specifying that is mostly arbitrary. Repetition in mathematical form makes a laughing stock of people who use the phrase "was confirmed by" in a T/A comparison statement -- e.g., "The rising-market trigger of the RSI was confirmed by the Lane's Stochastic on the very next candle." Holy Multicollinearity, Batman.:confused: Lastly, what you are doing is only creating a trace, of a past market pattern, defining a range of behavior which the market is free to break at any time. "Playing the percentage" is fine, just keep your stops in place.

    Sermon over. :cool:
     
    Last edited: Aug 25, 2020
  4. speedo

    speedo

    If you are starting out, John Murphy's Technical Analysis of the FInancial Markets is a good primer. Anything by Richard Wycoff and of course the classic Edwards and Magee on Technical Alalysis. You can also get good ideas and understanding from Victor "Trader Vic" Sperandeo.
     
  5. LanceJ

    LanceJ

    Richard Schabacker, John Carter, Jack Schwager
     
  6. SunTrader

    SunTrader

    All three Tom DeMark's books.
     
  7. ctheo1

    ctheo1

    You can try the books on the syllabus for the cmt.

    It is a very comprehensive body of knowledge for ta.

    https://cmtassociation.org/