What is the best book on technical analysis?

i would NOT suggest crabel for anyone near a beginning t.a. person.

although i think crabel's book is useful, it's something that is best read when the foundations (for t.a., and reversions, etc.) are in place. not as a first-read.

also, it's a very dry book, mainly with tables relating to the breakouts and reversions.
 
TA is about prediction based on probabilities. Discretionary for the most part, yes, but based on certain criteria one has determined, one takes a position. Always protecting oneself w/smart money management. Then continually refining that criteria thru experimentation and experience.

H
 
What I have noticed is that most people starting out (and this has been the case with me a long time ago and most of the guys in my office) is that the first thing they look for is TA oriented material...

And since the public wants this badly, all publishers favor TA books. However there are very few books on money management or psychology.

However, there is a reason to this.

Money management and good psychology comes from knowing yourself and knowing your risk profile.

When you know this, then you know how much you want to trade in terms of risk, how often, why, during what hours..... and when you know this ....

....TA will only help you "see" the market in such a way that your plan is doable...

I personally started out with Dr Elder's "Trading for a Living", but it took me 3 or 4 years to understand that the way I trade is my own and cannot be borrowed!
 
Quote from SWScapital:

I never said there was statistical proof. I answered the ladies question. And honestly at that. I told her to learn money management first. No matter what methods she uses.

Now how do you trade and what methods do you use?
More...

Yes you told her money management. That was a good comment

Telling to avoid TA is another good comment, because it is a huge waste of time for the newbie.

And how I trade has nothing to do with it. I have no plans to impart my methods to others. You don't exactly see people falling over themselves on ET to reveal their precise methods everytime a newbioe asks, so I don't see why you are expecting anything different here.
 
Sir or Madam;

A Couple of suggestions for you. First if you are a newby, you should be aware that almost all the others here are either 1. newbies themselves, or 2. Newbies masquarading as traders, or 3. Trading "failures" who can't make a profit and are trolling for info. This implies that YOU are probably one of the three yourself.

If that is the case, I suggest you think for minute, and ask yourself the obvious questions

1. How likely is it, that I will learn something new, useful or important, from another newbie trader.

2. How likely is it, that instead of learning something new, I will have to endure some pompus asshole like canfiel telling me what is and isn't important?

3. How can I cut to the chase and get whatever is of value here?

It has been quite a while now, since a decent professional commented here. As a result, what you are doing is probably counter productive. What you might want to consider is making a list of important topics and then using the search feature at the top of the home page, to find whatever you can from the stored archives. I think you will much more of value to you that way.

Good luck.
Steve
 
Quote from steve46:

Sir or Madam;

A Couple of suggestions for you. First if you are a newby, you should be aware that almost all the others here are either 1. newbies themselves, or 2. Newbies masquarading as traders, or 3. Trading "failures" who can't make a profit and are trolling for info. This implies that YOU are probably one of the three yourself.

If that is the case, I suggest you think for minute, and ask yourself the obvious questions

1. How likely is it, that I will learn something new, useful or important, from another newbie trader.

2. How likely is it, that instead of learning something new, I will have to endure some pompus asshole like canfiel telling me what is and isn't important?

3. How can I cut to the chase and get whatever is of value here?

It has been quite a while now, since a decent professional commented here. As a result, what you are doing is probably counter productive. What you might want to consider is making a list of important topics and then using the search feature at the top of the home page, to find whatever you can from the stored archives. I think you will much more of value to you that way.

Good luck.
Steve
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Good to see you back around Steve. For awhile I thought you had committed suicide. That was the word on the street at least.

Have a good one.
 
Do those of you who fight know each other in person or do you just act big and tough while hiding behind your computer.

If you really do not like each other maybe you should meet up, box, and post the video on the web. I would love to watch this. Maybe we could place bets and turn this into a trading/gambling site.

For the OP:

Learn all you can about all analysis and find what you are comfortable with.

also for the douche who stated that the people on this site do not trade, or are failed traders: why would they then come to a trading website, why is there still good info here sometimes, and let us pretend he is correct, how would he know?

Good Luck
 
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