Recommended Books on Technical Analysis

Originally Posted by Traderji

Recommended Books on Technical Analysis

These books are a must read for every trader (both novice and advanced) interested in using technical analysis as part of their decision making process.

1) Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
by John J. Murphy

Book Description
John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.

"If one could read only one book on technical analysis, this should be the one." --Knight-Ridder Financial Products and News (on the first edition, Technical Analysis of the Futures Markets, 0-13-898008-X)

This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.

"One way to get started in technical analysis is to read a good book on the subject. One of my favorites is Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy. It's an easy read." Ralph J. Acampora, CMT, Managing Director, Prudential Securities Inc.

2) Technical Analysis Explained: The Successful Investor's Guide to Spotting Investment Trends and Turning Points
by Martin J. Pring

Recommended for professional certification by the Market Technician's Association

The Original **and Still Number One** Technical Analysis Answer Book

Technical Analysis Explained, 4th Edition, is today's best resource for making smarter, more informed investment decisions. This straight-talking guidebook details how individual investors can forecast price movements with the same accuracy as Wall Street's most highly paid professionals, and provides all the information you will need to both understand and implement the time-honored, profit-driven tools of technical analysis.

Completely revised and updated for the technologies and trading styles of 21st century markets, it features:

Technical indicators to predict and profit from regularly occurring market turning points

Psychological strategies for intuitively knowing where investors will seek profits**and arriving there first!

Methods to increase your forecasting accuracy, using today's most advanced trading techniques

Critical Acclaim for Previous Editions:

"One of the best books on technical analysis to come out since Edwards and Magee's classic text in 1948.... Belongs on the shelf of every serious trader and technical analyst."

**Futures

"...Technical Analysis Explained [is] widely regarded as the standard work for this generation of chartists."
**Forbes

Traders and investors are creatures of habit who react**and often overreact**in predictable ways to rising or falling stock prices, breaking business news, and cyclical financial reports. Technical analysis is the art of observing how investors have regularly responded to events in the past and using that knowledge to accurately forecast how they will respond in the future. Traders can then take advantage of that knowledge to buy when prices are near their bottoms and sell when prices are close to their highs.

Since its original publication in 1980, and through two updated editions, Martin Pring's Technical Analysis Explained has showed tens of thousands of investors, including many professionals, how to increase their trading and investing profits by understanding, interpreting, and forecasting movements in markets and individual stocks. Incorporating up-to-the-minute trading tools and technologies with the book's long-successful techniques and strategies, this comprehensively revised fourth edition provides new chapters on:

Candlesticks and one- and two-bar price reversals, especially valuable for intraday and swing traders
Expanded material on momentum **including brand new interpretive techniques from the Directional Movement System and Chaunde Momentum Oscillator to the Relative Momentum Index and the Parabolic
Expanded material on volume, with greater emphasis on volume momentum along with new indicators such as the Demand Index and Chaikin Money Flow
Relative strength, an increasingly important and until now underappreciated arm of technical analysis

Application of technical analysis to contrary opinion theory, expanding the book's coverage of the psychological aspects of trading and investing

Technical analysis is a tool, nothing more, yet few tools carry its potential for dramatically increasing a user's trading success and long-term wealth. Let Martin Pring's landmark Technical Analysis Explained provide you with a step-by-step program for incorporating technical analysis into your overall trading strategy and increasing your predictive accuracy and potential profit with every trade you make.

3) Technical Analysis of Stock Trends, 8th Edition
by Robert D. Edwards, John Magee, W. H. C. Bassetti

The universally acclaimed investor's classic has now been updated with the latest data and references. With more than 800,000 copies in previous editions, this is the definitive reference on analyzing trends in stock performance. It incorporates the most recent stock information and updated charts for expert guidance.

Book Description
Technical Analysis of Stock Trends, 8th Edition, is a critical reference for investors--especially in today's tumultuous markets. This seminal book--the first to produce a methodology for interpreting and profiting from the predictable behavior of investors and markets--revolutionized technical investment approaches and continues to show traders and investors how to make money regardless of what the market is doing.
Now, with the addition of noted technical analysis authority W. H. Charles Bassetti (editor)--as well as charts and graphs that pertain to today's market environment and major stocks--this completely updated and revised edition confirms the wisdom of the original work for today's markets. Technical traders and chartists will turn to it for:

* Information on utilizing electronic markets, the Internet, wireless communications, and new exchanges, plus current ideas on portfolio management and risk management
* Chapters on futures and derivatives charting and trading
* Expanded treatment of "runaway" markets--to help put the recent Internet stock craze in perspective

"Chart formations," states Charles Bassetti in the preface, "are the language of the market." Technical Analysis of Stock Trends, 8th Edition, translates that language for a new generation of technical traders and investors.

4) Encyclopedia of Chart Patterns (Wiley Trading)
by Thomas N. Bulkowski

Technical chart analysis has never been easy. It has, however, been historically successful—and well worth the added effort—for dedicated investors who want to presage what a stock will do next and regularly beat the markets. Encyclopedia of Chart Patterns represents the next step in technical analysis. This definitive text details over 50 chart patterns that signal whether a stock is in bullish, bearish, or neutral mode. It identifies each chart pattern, explains how and why each chart was formed, and where it will go next. You simply filter the information through your own trading style and strategy, watch for the optimal entry and exit points, and trade the markets with skill and confidence.

The step-by-step chapters in Encyclopedia of Chart Patterns reveal for each pattern:

Results Snapshot—At-a-glance data on chart appearance, average rise or decline, failure rate, and price prediction accuracy

Tour—Broad introduction to the pattern

Identification Guidelines—Characteristics to look for and why

Focus on Failures—What failed patterns look like, why they failed, and what to do

Statistics—The numbers and what they tell you

Trading Tactics—Implementation strategies for maximizing profit while minimizing risk

Sample Trade—The chart pattern in action, with hypothetical trades using real data

With the proper knowledge and understanding, chart pattern analysis can be one of today’s easiest to use "investing tools." Encyclopedia of Chart Patterns presents the technical analysis tools, then reveals the secrets—such as average failure rates, most likely gain or loss, volume trends, and surprise findings—as you use the tools to build a portfolio of wealth. The result is today’s most valuable technical analysis reference—one that will save you critical time in identifying chart patterns and increase your likelihood of buying near the price bottom and selling near the top.

Originally Posted by Disciple

Hi Soumya!
You can find these books in Kolkata at college street,Landmark/crossword book stores.
Happy Trading!
Disciple.