Best book on technical analysis for beginners

My opinion would be to skip the books and go straight to paper trading and live trading, start out super small, work your way up, learn it yourself, it's the quickest way to sift through all the BS - because anyone can sell anything, and it's no different in the financial sector!

Good Luck.


Quote from roniy1985:

I'm a beginner with everything that has to do with technical analysis...

After some research, I think one of the two will help me a lot in the next few months and maybe even start trading a little:

"Investing with Volume Analysis: Identify, Follow, and Profit from Trends" by Buff Pelz Dormeier

http://www.amazon.com/gp/product/0137085508/ref=ox_sc_act_title_3?ie=UTF8&m=ATVPDKIKX0DER


OR

"Technical Analysis: The Complete Resource for Financial Market Technicians, Second Edition" by Charles D. Kirkpatrick II

http://www.amazon.com/gp/product/0137059442/ref=ox_sc_act_title_4?ie=UTF8&m=ATVPDKIKX0DER


Which of the two will do the job? I don't want to get into books from 1990 because I think they are outdated and newer books can do a better job.


Thanks
More...
 
Quote from trading_time:

My opinion would be to skip the books and go straight to paper trading and live trading, start out super small, work your way up, learn it yourself, it's the quickest way to sift through all the BS - because anyone can sell anything, and it's no different in the financial sector!

Good Luck.
More...

Agreed, except I recommend paper trading until a strategy is found.
It may sound funny to a lot of people, but I believe that reading trading books is one of the worst things a beginner can do to himself.
 
I'm not sure it is actually the bible but Amazon has Charlton Heston hand deliver it!

Quote from FrankSlaughtery:

try technical analysis of stock trends by robert edwards and john magee - this is widely considered the best technical analysis book period - even if it wasn't written 5 mins ago.
More...
 
Quote from BSAM:

It may sound funny to a lot of people, but I believe that reading trading books is one of the worst things a beginner can do to himself.
More...

As if starting to sim-trade in a vacuum was better ?!

I am quite on the opposite end of the spectrum ... I believe that reading a minimum of 30 trading books (I can provide a list of the books I consider "must-read") is a necessary step before ever loading a charting package on a PC. I would add to that a mandatory 200h of browsing ET forums.

Lack of market/trading education & lack of preparation are the 2 main reasons why "90% of small traders lose - they just lose" (emg). Lack of capitalization would come next, I include in that insufficient financial resources to get through the education & preparation phases.
 
Quote from dom993:

As if starting to sim-trade in a vacuum was better ?!

I am quite on the opposite end of the spectrum ... I believe that reading a minimum of 30 trading books (I can provide a list of the books I consider "must-read") is a necessary step before ever loading a charting package on a PC. I would add to that a mandatory 200h of browsing ET forums.

Lack of market/trading education & lack of preparation are the 2 main reasons why "90% of small traders lose - they just lose" (emg). Lack of capitalization would come next, I include in that insufficient financial resources to get through the education & preparation phases.
More...

Guess we will have to agree to disagree.
I wish I had spent more time analyzing price than reading the many books I read.
Maybe a person should read one book just for the very basics then read nothing but charts.
I do agree with you on studying ET forums.
In spite of all the entertainment, gems do appear every now and then.
I would say that trading education and preparation are achieved by learning price action; not by reading a book.
Real trading really isn't that hard, once one learns a few key elements.
However, it can take years to grasp those key elements of what works and when to trade.
 
I never read a single book or magazine on trading. All of my trading comes from pure experience. When price is about to bust a move I know it based on the chart and it's action. I have been asked how did I know the move because everyone else was jumping on the other side per say their knowledge of written and common understanding of technical analysis.

I dug right into paper trading 8 years ago when google went IPO trading options, went live about a year later, and never looked back.

Trading is my life now, I don't work.

I am not indoctrinated with common knowledge. My mind if free to see the markets as they are.


Quote from dom993:

As if starting to sim-trade in a vacuum was better ?!

I am quite on the opposite end of the spectrum ... I believe that reading a minimum of 30 trading books (I can provide a list of the books I consider "must-read") is a necessary step before ever loading a charting package on a PC. I would add to that a mandatory 200h of browsing ET forums.

Lack of market/trading education & lack of preparation are the 2 main reasons why "90% of small traders lose - they just lose" (emg). Lack of capitalization would come next, I include in that insufficient financial resources to get through the education & preparation phases.
More...

Quote from BSAM:

Guess we will have to agree to disagree.
I wish I had spent more time analyzing price than reading the many books I read.
Maybe a person should read one book just for the very basics then read nothing but charts.
I do agree with you on studying ET forums.
In spite of all the entertainment, gems do appear every now and then.
I would say that trading education and preparation are achieved by learning price action; not by reading a book.
Real trading really isn't that hard, once one learns a few key elements.
However, it can take years to grasp those key elements of what works and when to trade.
More...
 
Quote from BSAM:

If you identify trends and get in, aren't you predicting your market?
More...
I don't see how. I'd see it as just riding the trend until it reverses. But we'll agree to disagree.
 
By far the best book on technical analysis for beginners IMO is "The 1-Day Technical Analysis Expert Guide" from the Amazon website or from the author's website:
Kindle Edition here:
 
Last edited by a moderator:
You must log in or register to reply here.
Back
Top