What is the best book on technical analysis?

[ElCubano]

ET has priceless information.....if you know how to search and who to read.

 

[murray t turtle]

Quote from Mrsmith42e:

Thanks for the replies.

I just got back from Vegas and thats where you see some T.A. !

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Msmith;
Well like what another officer said quote''there is a thin blue line between you & danger!!!!!''
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He certainly could have been talking about a blue color 50 period moving average;
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but actually he was talking about the LV police dept.

Moving averages were first used i think by aircraft gunners.Look @ years of trends with 50dma. I do.

All of Jack Schwagers book excel;
never have read his fundamental book.

 

[murray t turtle]

Quote from Indrionas:

1) there is no deterministic dependence in market - you cannot be right 100% of the time, any trading method will have losing trades and drawdowns. If you happen to have 60% drawdown, that's most probably risk management or discipline problem, not TA's.

2) markets change, never expect for some method to work forever, it is impossible. What worked 5 years, 10 years ago does not imply it works today. You have to implement some safety fuse strategy for the trading methods. Detect performance deterioration and dump the system in advance before it becomes a loser.

Actual quote:
"Momentum is one of the five concepts that can bring us short-term trading profits. It is what Newton was talking about when he said an object once Set in motion tends to stay in motion. So it is with stocks and commodities: once price starts to move, it will most likely keep going that direction. [blahblahblah] I will not delve into all of them, just the ones I have found to work, and the concept, I trade with."

Sounds like a tale told by a grandmother, only made to sound more scientific with references to Newton. Way to deceive the gullible. [/B]

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Indrion;
Helpful. And do you remember the Trane ad ''Its hard to stop a train'' Thay got bought out recently for a nice premium;
but good ad -'it is hard to stop a train.

It is hard to stop a trend also.They used word play=train/Trane.

Agree;
As Joshua Likeman, the market maker, says [Writer of The Market Makers Edge];that is Newton 's Law of motion.