Best Books on Technical Analysis.

[Luckytrader]

HI friends,

I just want to know

Which is the Best book on Technical Analysis?

Dont just give your vote Please explain why?
Your views, suggestion, Etc

Regards,
Luckytrader

 

[Luckytrader]

T. A of Stock Trends-by Edwards & Magee

It is very interesting... I have read it once.
I think its a good book.

What are your views?
Experts/Seniors Please Vote.

 

[oxusmorouz]

What if I want to choose "none of the above"?

 

[Luckytrader]

What if I want to choose "none of the above"?

Please mention the name of the book separately.

I will be grateful for your comments.

 

[oxusmorouz]

Well, I recently purchased a book called "Evidence Based Technical Analysis" (Thank you CV for recommending it) and it has changed my idea of price action,indicators,patterns etc completely. To what extent I am educated enough to write a review is questionable but anyway, here it goes:
Unlike the books you have mentioned above, it does not try to explain a trading system or try to detail if the market is "bullish" or "bearish" nor does it give any specific trading idea. The following areas are covered by the book:
---> Questioning the authority of subjective technical analysis (which includes EWs,Patterns and anything which can't be backtested, for want of evidence and serverly lacking statistical literacy)
---> An insight into theories of price motion (which I felt was the best part of the book)
---> An explanation of data mining bias (and not to mention the other biases explained eloberately)
The book concludes by testing 6400 strategies in an attempt to prove the predictive ability of technical analysis and disprove the random walk of EMH by earning a risk adjusted rate of return greater than the benchmark.

An excellent read and truly a book worth admiration. The bibliography alone went for 50pages!

 

[arindam20011]

Dear Oxusmorouz,
Thank you for the reference. Where is this book available and what's the price?
Thanks

 

[oxusmorouz]

I purchased this book from amazon. It is priced around 60$ + shipping.

 

[Luckytrader]

Well, I recently purchased a book called "Evidence Based Technical Analysis" (Thank you CV for recommending it) and it has changed my idea of price action,indicators,patterns etc completely. To what extent I am educated enough to write a review is questionable but anyway, here it goes:
Unlike the books you have mentioned above, it does not try to explain a trading system or try to detail if the market is "bullish" or "bearish" nor does it give any specific trading idea. The following areas are covered by the book:
---> Questioning the authority of subjective technical analysis (which includes EWs,Patterns and anything which can't be backtested, for want of evidence and serverly lacking statistical literacy)
---> An insight into theories of price motion (which I felt was the best part of the book)
---> An explanation of data mining bias (and not to mention the other biases explained eloberately)
The book concludes by testing 6400 strategies in an attempt to prove the predictive ability of technical analysis and disprove the random walk of EMH by earning a risk adjusted rate of return greater than the benchmark.

An excellent read and truly a book worth admiration. The bibliography alone went for 50pages!

Thanks oxy for that reco..

 

[subratabera]

Well, I recently purchased a book called "Evidence Based Technical Analysis" (Thank you CV for recommending it) and it has changed my idea of price action,indicators,patterns etc completely. To what extent I am educated enough to write a review is questionable but anyway, here it goes:
Unlike the books you have mentioned above, it does not try to explain a trading system or try to detail if the market is "bullish" or "bearish" nor does it give any specific trading idea. The following areas are covered by the book:
---> Questioning the authority of subjective technical analysis (which includes EWs,Patterns and anything which can't be backtested, for want of evidence and serverly lacking statistical literacy)
---> An insight into theories of price motion (which I felt was the best part of the book)
---> An explanation of data mining bias (and not to mention the other biases explained eloberately)
The book concludes by testing 6400 strategies in an attempt to prove the predictive ability of technical analysis and disprove the random walk of EMH by earning a risk adjusted rate of return greater than the benchmark.

An excellent read and truly a book worth admiration. The bibliography alone went for 50pages!

Thanks @oxusmorouz for the recommendation...

Subrata Bera.

 

[ramesh_vatsavayi]

Thank you very much Oxusmorouz. Is there any book shop in India that bring this type of books.