The best book in Technical Analysis

And I found this with a quick google:

Posted by cardwellwife on 13-10-2004 18:16:

There sure are a lot of people discussing my RSI work which was copyrighted back in 1992. Much of what has been written by certain authors and analysts is in direct violation of copyright. I just wanted to you let you folks know that I am still very much alive. I am posting this under cardwellwife because I am not registered myself, but my wife did post my email if anyone wants to contact me.

I also notice much discussion on John Hayden's "MDRP". Well let me set the record straight on a few things about Mr. Hayden.

John was a former RSI Course student of mine in the early 90's.
Most of what he has written in either his books or articles he learned (or should I say stole) through my RSI Courses. While he claims the MDRP as some "new" discovery, all he basically did was to rename what he had learned from me. The same can be said for the comments he makes about the range in which the RSI trades and the use of moving averages for trend analysis. I first shared my guidelines for trend analysis using moving averages on close and the RSI way back in 1987 at a Computrac
conference in New Orleans, La. I have also shared my work in my RSI Courses which I began offering in Atlanta in 1989.

There is also another analyst and author who has taken some of my work and claims it as her own. And she was someone who I had considered a good and close friend. I knew her, (notice the past tense), as Connie Brown, although you may know her as Constance Brown. I had shared with her back in 1994 the formula
for my "CFG" which is my personal RSI. While we were there in my office, and my assitant can attest, I told her to never to divulge the formula to anyone. She then told me after looking it over, "it is not anything I would ever be interested in". I was only sharing it with her to help her in her own personal trading. She is now selling the same formula I include as part of my RSI Course through her website. I do appreciate the fact that she did author a book and include a chapter about me and my RSI work. However, I do not appreciate it when someone takes another's work and claims it as their own. She had forwarded to me for review before it was published the draft of the chapter she was going to include about my work. She never however sent me some of my other material which she included in her book.

I guess in both cases with Hayden and Brown, plagiarism must be the highest form of flattery. It is probably easier to take or steal something from someone else than develop it on your own.

In closing I want to mention the two things I am most proud of:

1. Over 70% of my course students have been referals of previous students.
2. We have course students in 25 countries around the world who are using what they learned in my courses.

Andrew E. Cardwell, Jr.
trader011@msn.com
 
KIWI - always enjoy your research and comments.

Like many traders, I have probably read way too many books on trading and technical analysis.

My favorite list is short:

"Technical Analysis and Stock Market Profits" by Richard Schabacker.

"Mind Over Markets" by James and Robert Dalton and Eric Jones.

For those interested in Fibaonacci clusters:

"Fibonacci For The Active Trader" by Derrik Hobbs has a good explanation on how to construct Fibonacci clusters or Fibzones as Hobbs calls it.

I don't fool around with indicators much anymore.

Charles
 
Quote from optionpro007:

I think you are correct. There is no perfect book for everybody.

In your experience have you come across a TA book which analyses indicators used in conjuntion, not separately ?
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You will find different people will get different results from reading the same book.

The scene regarding TA books is sort of bleak for several reasons but it does point out the alternative.

You are there and a book comes your way. Your makeup is the base for how you process the content of the book. What all of your life has handed you has gone through a funnel over time and that funnnel is directed to temporarily place its contents into your mind for processing.

Strangely the processing is not under your conscious control. It, on the other hand, is worked upon carefully in the context of what you have built up in your experience as a cummulative mind set.

Your mind set is showing now as you tell us your current orientation. This build up of memory and knowledge is constructed to best protect you in the environent in which you operate.

Reading processes content into your mind. Your subconscious organizes it to further the protection system that you have in place.

All of ths piecemeal process comes under the heading of pondering.

Notice you are stating that you want a constellation of indicators to protect you. You feel arming yourself with an interrelated combo will be helpful as it comes out of the "best" book. Reading the best is a shortcut to full empowerment for the battle ahead in which you want the most protection from an entwined sort of structure where you think the sum of the workable parts may be greater than the individual component sum.

Pondering inputs will not strengthen your capabilities effectively.

How can you begin to go down the road to success and get to normal goals or even extremely gratifying goals.

Late this week, some from the hip shooters have been congratulated by some of the loose cannons of ET. Total recall was acquired as an enabler for chartless from the hip shooting.

Obviously this is not your chosen path either.

Perhaps, you might want to consider self learning the scope and bounds of what is required to be an expert trader. It would appear that you draw a line around all that encompasses being an expert and just fill in all the pieces.

That can't be done we find out; but on the other hand we have to have that to be expert.

I am beginning to participate locally in an IBD Meetup group. There I get to witness an assortment of persons going through relating their lives to the markets they play. Everyone doesn't have a plan of action for getting to expert. The contemporary scene apparently prevents them, as it does you, from considering having a plan to learn to be an expert.

I would say it takes a while to get to understand that a person has to have a cirriculum that defines the path to expertise.

A plan can come from a synthesis or an analysis or their combo. People are usually prone to do one or the other. Make an expert by putting the parts together or take one apart and see what makes him an expert.

In ET, people refrain from looking at experts because they cannot see them mostly. I guess what is left to do then is build one from the parts you find around and about.

I have seen many elsewhere and I have helped build a few. Rarely have I seen one go through the process as an observer.

Fast tracking to expertise is easy if one rule is followed. This rule lets you ponder after a while too.

I theorized and tested this theory in other arenas. My view is that no one can percieve what is contained in a given the body of knowledge that they are looking at from the outside. They invariably short change themselves on the scope and bounds and the content. there is always one decision involved at the onset of considering whether to learn the percieved content. It is the go/no go consideration of "is it too hard for me to learn?" The answer for all the things you do not now know it that so far it has been too hard for you to learn these things.

I could learn that. Sure you could.

What mkes it possible to learn about anything? One thing. Succeeding at the first step. So, obviously, there has to be anadjustment made for each person to "enable" them to succeed at the first step.

What is the universal adjustment that is required? It is simple. You remove the risk of failure by making the height of the first step as low as is required to have an initial success.

As you stand on the first sucessful step you have earned, you do always discover that what you perceived previously is he scope and bounds (the height of the learning challenge) is much more than you previously perceived. Thisdoes not deter you though because you have "gotten it" that you can succeed in the field of consideration as you stand on a success.

In trading, the first step of success is vey important. It is learning to do the no risk trade. It is not looking for the best book.

After learning the no risk trade, you get to have a perspective that lets you learn to trade all markets. What is that perspective? It is simply that you may not trade in a market where you do not know what is going on in the market.

So learning to know more and more about markets is the learning task at hand. Books don't do that. What does? Well markets do.

What you need to read as the best reading is the market. Settle down and learn.........to read the market. Read the no risk trade first. And take a few quizzes.

How it feels to read the market is best expressed by the phrase..."listen to the market talk to you". Fortunately, this is a serial sensory process. Notice that when another talks to you, you have an emotional aspect to hearing them address you. All of your history determines what you hear. You grow in stature when you are able to listen to others who are connecting to you in their unique ways. Now i your life you can listen to anyone successfully because you are mature and can respond in kind. If you can't then you have not learned to listen because your sensory system is blocked by emotions and fears.

For listening to the markets you happen to use yor eyes. It more closely resembles driving a car or playing chess or bridge. None of this is foreign to you. you know the rules from what? From the experiences you have digested successfully to be a winner. No one learns games or drives a car to lose. You do it to win. You know full well you have to observe to win; rules are secondary to strategies and reasoning. Observe, analyze, decide and act.

It is a thing that you eithr do right or you do not succeed. So skip the pondering of information (reading books and stuff). begin to read the market by observing....then analyze...cement into your synapses a set of observations that are the systematic truths of the market going from the lowest risk operations to the more complex situations, circumstances and conditions. As in chess there is one goal, utilization of resourses to gain advantage. Markets move similarly, your are reading the board to gain all the potential advantages as a result of market movement. There is no such thing as status; it is all in the dynamic of movement.

Observe movement of the variables; analyze the "play"; decide on the advantage given to you; act by using markt tools (which are given to you by the market owners). You are to learn on a fast track, carefully, what is going on in the market. each time you find that you do not know; you have learned when to leave the market and just watch. time and time again this will happen. You continue to read until you have a complete vocabulary and can use the tools the market owners allow you to deploy to your advantage.

Neither driving, playing chess nor bridge is done by entering and exiting the game. How the market is read (observed) is from the vantagepoint of being in the game and continuing to gain more and more advantage. Don't learn to watch people drive or watch people play chess of play bridge. Learn to drive and play the whole game. Read the road as an expert driver. Read the board as a champion player. Hold and execute your hand as a winner no matter what hand is dealt to you.
 
There are so many neat websites that provide info on technical analysis that I wonder why one would buy a book.

The nice thing about websites is that they're often interactive, not passive ... and you can experiment with different techniques.

I even got me one myself
http://www.gummy-stuff.org/TA.htm
:)
 
Quote from Grob109:

You will find different people will get different results from reading the same book.

...
More...

I'm sure you are a smart person .....

But ......

You should have stopped with the first sentence.

Your post is a rambling diatribe. I'm sure there is a way to distill all of your ideas into tens of words, rather than hundreds ......

Like my old college writing professor would say "less is more ..."
 
Grob109

Read your post, the writing and thought process style seems very familiar somehow. I think I have read some of your posts before at other places. Curious.....Are you POP? or ALS?
 
Quote from MD-R2:

I'd actually peruse the internet for free TA information. I started three months ago and just did that. I don't know many different ways the Cup and Handle can be explained in a book that makes me want to spend 50 bucks.

HardRightEdge was one I found for various stuff and then just used the links from that site to find others.
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I agree with this.

It can be shown (in fact, has been shown) that 99% of TA is crap. Guess what? 99% of TA books insist in shoving that crap 99% of TA down your throat anyway. :mad:

The authors obviously aren't interested in educating you and making you a good trader. They just want to sell their crap books and make a profit. This is assuming they even know how to trade themselves, which is seldom the case.

Ask yourself why most of these books have zero performance data verifying the efficacy of any of all these TA indicators. Ask yourself why you'd even need to study hundreds of different indicators to analyze about a half dozen different data streams (ohlcv). What a scam!
 
Check out how Tom DeMark sees trendlines. It will blow you away.

I think it is good to see other people's methods of seeing things and then compiling whatever suits your trading needs.


If you read and have a trading education does not mean you have a winning strategy. It just means that you have the knowledge base to come up with a coherent strategy.

Cheers
 
My advice to all you new traders out there is the following:

1) get a basic course to understand the basics, indicators and all and how candlesticks works and the such. It's like learning the ABC for further reads.

2) pick the 10 most quoted books on TA. They are important as you can see how succesful traders think.

3) Read the first book, then demo trade based on the book you read. Try to apply everything described there and see what works and what not. It should take a month to read and another one to practice.

4) Repeat this for all the 10 books and it will take about 2 years.

I guarantee you that in these 2 years you will AUTOMATICALLY develop YOUR OWN strategy.

Cheers
 
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