Need help finding a book on analysing charts

[Posca]

Hi,

I need some help finding a useful book on analysing equity charts because there are too many to choose from! Ideally I suppose I'm looking for something that can teach me technical analysis and something that will illustrate examples on how to judge future chart patterns.

Any suggestions welcome!

Cheers!

 

[Dentalfloss]

john murphy ta book

 

[songcon]

Hi,

I need some help finding a useful book on analysing equity charts because there are too many to choose from! Ideally I suppose I'm looking for something that can teach me technical analysis, yet also something that will illustrate examples on how to judge future chart patterns.

Any suggestions welcome!

There is a Market Technicians Association that provides training and test for the CMT (Certified Market Technician). There are 3 books that are required reading for the first of the three tests for the CMT designation. These are:

Recommended Reading for CMT1 test for Spring 2010:

2) Edwards, Robert D. and Magee, John, Technical Analysis of Stock Trends, 9th Edition, CRC Press, Taylor & Francis Group, Boca Raton, Florida, c2007,
ISBN 0-8493-3772-0

3) Kirkpatrick, Charles D. and Dahlquist, Julie R.: Technical Analysis The Complete Resource for Financial Market Technicians, Pearson Education, Inc., Upper Saddle River, New Jersey 07458, c. 2006, ISBN 10:0-13-153113-1

4) Pring, Martin J.: Technical Analysis Explained, 4th Edition, McGraw Hill Book Company, New York, NY, c. 2001, ISBN 0-07-138193-7

http://www.mta.org/eweb/DynamicPage.aspx?webcode=cmtlevel1reading

Martin Pring's book is more comprehensive and easier to understand than other 2. They are all excellent There is a study guide to go with that, and it's fantastic. Try it and you might want to study for the program. I just love it.

To read more about the CMT program
CMT Exam Level 1 | CMT Exam Level 2 | CMT Exam Level 3

http://www.mta.org/eweb/DynamicPage.aspx?WebCode=CMTProgram

This young man is a CMT and he has a mentorship progam, and I don't know the cost.

http://premium.afraidtotrade.com/shop/

If you have question about the CMT, considering about participating in the program, try to access to the MTA homepage and learn more.

 

[maiden22]

John Murphy is good, you could also try Martin Pring. Steve Nison for candles / patterns.

You might also try "Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader" (Wiley Trading) by Al Brooks. Not terribly well written, but an interesting read nonetheless.

 

[songcon]

"something that will illustrate examples on how to judge future chart patterns."

The Edwards & Magee's book that I mentioned above is full of chart pattern samples with notations. This is an art and it takes time to acquire the skills of chart building, reading and interpreting, it's advised so in the book. With the knowledge from the book, you can go the various website such as: StockCharts.com, Finviz.com where they have listings of computer selected patterns and you can test your tea leaves reading ability.

Candle charting is a must for your learning process and Steve Nison is the biggest name in teaching of this field. Try THE CANDLESTICK COURSE, this book is for the novices, it's so easy to understand, there is a test at the end of each chapter, and the best part of it are the answers given by Nison and the explanation why they are selected.

This small, simple book is a very good start, it would make the people who want to know technical analysis feel more comfortable with the field and also a good tol to build personal confidence to get ready for more learning afterward.
- - - - - - - - - - -
PS: Thanks timsk. It's Edwards & Magee

 

[timsk]

"something that will illustrate examples on how to judge future chart patterns."

The Roberts & Magee's book that I mentioned above is full of chart pattern samples with notations.

I think songcon meant to say Edwards & Magee (Robert being Edward's christian name.)

Posca,
Most of the books mentioned so far will show you patterns based on bar, candlestick or line charts. I would recommend strongly that you take time to investigate Point & Figure charts as, once you've got over the initial hurdle of understanding their construction, patterns are (generally) much easier to spot - as are trends. To an extent, they also go a long way to solving a problem that plagues all traders who use bar, candlestick and line charts - getting caught in sideways choppy markets. There are lots of good books on the subject, but this one is probably the best and certainly the most comprehensive: The Definitive Guide to Point and Figure. Most (if not all) the books listed here have descriptions and reviews in the T2W Reviews section. Just key in the title in the search box and hit go.
Enjoy!
Tim.

 

[Posca]

Smashing! Thanks guys.

 

[macdeeden]

Personally, I think "Marc Rivalland on Swing Trading" is well worth a read.