Recommended Books On Technical Analysis

Alchemist

Administrator
Staff member
#1
Many people ask me which are the best books on technical analysis.

It is a tough question.

I have read many books on this subject, but here are some of my favorites:

1. Technical Analysis of Stock Trends by Robert D. Edwards , John Magee.

This was one of the earliest books on Technical Analysis. Even today it is considered the bible of Technical Analysis. Well written with hundreds of well presented charts.

2. Martin Pring on Market Momentum by Martin J. Pring.

One of the very few books dedicated to momentum indicators like RSI and ROC. No other book explains indicators better than this one.

3. Candlestick Charting Explained by Gregory Morris.

Candlesticks have become one of the most popular charting techniques. A nice book explaining each pattern individually.

Any beginner who goes through the above three books knows almost all basics of Technical Analysis. There are lot of other books on Day Trading, Swing Trading, Technical Analysis for Derivatives etc...but it is essential to master the basics first, before jumping on to these advanced subjects...

All the above three books have Indian versions published by Vision books. The Indian versions are much cheaper than the American versions.

Note:

Technical Analysis Explained by Martin J. Pring can be an alternative for 1.

Japanese Candlestick Charting Techniques by Steve Nison can be an alternative for 3.
 
#2
can an order for these techinical books be placed from any internet site since all these books (the Indian version) are not easily available in bookstores. you were also thinking about starting to teach TA in this forum.Are you still keen about it?
 

Alchemist

Administrator
Staff member
#3
can an order for these techinical books be placed from any internet site since all these books (the Indian version) are not easily available in bookstores. you were also thinking about starting to teach TA in this forum.Are you still keen about it?
Just write to Vision books:

http://www.visionbooksindia.com/contact.asp

They send a free catalogue (every month) to anyone who is interested in buying books from them.

I got mine just two days back.

If you are interested in buying the first three books mentioned by me - here are the prices and book codes (for Vision books):

1. Technical Analysis of Stock Trends by Robert D. Edwards , John Magee.

Book Code: 663-8
Price Rs 595.

2. Martin Pring on Market Momentum by Martin J. Pring.

Book Code: 570-4
Price Rs 395.

3. Candlestick Charting Explained by Gregory Morris.

Book Code: 240-3
Price Rs 395.

===========================================

Yes I am starting it next week :).
 
#5
i tried reading the book ''TECHNICAL ANALYSIS OF STOCK TREND'' by Robert D. Edwards & John Magee but i found it very very confusing and difficult to understand.

Isn't there any other simpler book for a layman like me?
 

Alchemist

Administrator
Staff member
#6
i tried reading the book ''TECHNICAL ANALYSIS OF STOCK TREND'' by Robert D. Edwards & Jhon Maggee but i found it very very confusing and difficult to understand. Isnt there any other simpler book for a layman like me?
Hmmm..I guess you should wait till I start on this forum.

That way you can clear all your doubts as and when they arise :).
 
#7
Which Site/book would be a good read to learn all there is to know about Indian MF, Stocks, IPOs, NFOs.. etc Debt Funds, Equity, etc etc.. all these are so confusing and diverse that one may have to study for months on end to know everything there is to know about them and how they work even before thinking of investing in anything. hmmm
 

Alchemist

Administrator
Staff member
#8
Which Site/book would be a good read to learn all there is to know about Indian MF, Stocks, IPOs, NFOs.. etc Debt Funds, Equity, etc etc.. all these are so confusing and diverse that one may have to study for months on end to know everything there is to know about them and how they work even before thinking of investing in anything. hmmm
No single book can cover all topics. Even if you study for years, you will never know everything that is to know.

Just keep learning little everyday.

Read the Economic Times or Business Standard regularly - they contain some great information.
 
#9
1. Reverse Divergences And Momentum By Martin J. Pring
2. Greg Morris - Candlestick Charting Explained
3. Martin J. Pring - Investment Psychology Explained Classic Strategies To Beat The Markets
4. Fundamentals Of Stock Market
5. Pring, Martin J. - Technical Analysis for Short - Term Traders
6. The Four Steps To 80 Day Trading Success In Online Trading
7. Beyond Technical Analysis - How To Develop And Implement A Winning Trading System -Tushar S. Chand
8. Swing Trading With Oliver Velez
9. Technical Analysis - Power Tools for Active Investors
10. Trading On Momentum - Advanced Techniques For High-Percentage Day Trading
11. Long-Term Secrets To Short-Term Trading
12. Profit From Prices
13. The Intelligent Investor - Benjamin Graham
14. Barry Rudd - Stock Patterns for Day Trading and Swing Trading


I have all these books in PDF format on my computer and presently in the process of getting the 14th one and many more. One book that i lack is the Technical Analysis of Stock Trends by Robert D. Edwards , John Magee. in the PDF format but i might buy it soon.

I've started reading up on Nos. 4 and 5. And im in the pipeline of buying Mr. Rajiv's book on tech analysis as i feel it would be better to have a book that i can keep with me and read at times im off my laptop. And from the POV of investing in the indian stock market Mr. Rajiv's book would help a lot.

Most importantly i hope i get time to read them all as the days go by otherwise it doesnt make any sense to possess them all and not have any knowledge about the market at all.
 

Alchemist

Administrator
Staff member
#10
1. Reverse Divergences And Momentum By Martin J. Pring
2. Greg Morris - Candlestick Charting Explained
3. Martin J. Pring - Investment Psychology Explained Classic Strategies To Beat The Markets
4. Fundamentals Of Stock Market
5. Pring, Martin J. - Technical Analysis for Short - Term Traders
6. The Four Steps To 80 Day Trading Success In Online Trading
7. Beyond Technical Analysis - How To Develop And Implement A Winning Trading System -Tushar S. Chand
8. Swing Trading With Oliver Velez
9. Technical Analysis - Power Tools for Active Investors
10. Trading On Momentum - Advanced Techniques For High-Percentage Day Trading
11. Long-Term Secrets To Short-Term Trading
12. Profit From Prices
13. The Intelligent Investor - Benjamin Graham
14. Barry Rudd - Stock Patterns for Day Trading and Swing Trading


I have all these books in PDF format on my computer and presently in the process of getting the 14th one and many more. One book that i lack is the Technical Analysis of Stock Trends by Robert D. Edwards , John Magee. in the PDF format but i might buy it soon.

I've started reading up on Nos. 4 and 5. And im in the pipeline of buying Mr. Rajiv's book on tech analysis as i feel it would be better to have a book that i can keep with me and read at times im off my laptop. And from the POV of investing in the indian stock market Mr. Rajiv's book would help a lot.

Most importantly i hope i get time to read them all as the days go by otherwise it doesnt make any sense to possess them all and not have any knowledge about the market at all.
You need not read all the books.

I have many stocks-related books that I haven't read fully...even though I bought them years back..:D.

From the above list, I only have Greg Morris' book on candlesticks. It is a great book and a must-read. Instead of the actual patterns, focus on the psychology of these patterns. It will help you in actually reading the market movements.

Martin Pring is a great author and you can go through his books too.

Not sure about the other books.

You must also try and find some works on Warren Buffet. Benjamin Graham focussed just on undervalued stocks, but Buffet went a step ahead and started considering growth too.

In a growing economy like India, it makes more sense to look for Value+Growth stocks and not just undervalued stocks.

Don't try to trade much. Trading stocks is not easy and involves a greater risk than simple investing.

and finally don't forget...long term success in stock markets is not just about picking the best stocks, it also needs great money/risk management skills...;).
 

man4urheart

Well-known member
#14
What are your views about the book

Technical analysis of Financial Markets by John J Murphy?

I have read 50 pages of same and compared with
Technical Analysis of Stock Trends by Robert D. Edwards , John Magee.

I actually find John J murphy more easily written and his best statement about .........

@Fundamentalist always questioning about Technical guys that we analyze historic price movement, which is flawed!

@He answers somebody should ask them, what other data is there to analyze?...ha ha! It is always historic, take Weather forecast, Economic projection, IIP numbers?..:) all from history!
 
#15
I heard there is some book on technicals by Ashwini Gujral, has anybody read that, How good is that, observing you all, I feel I need to gain some technical knowledge.
 
#16
TA

It's decent, no detailed explanation, but it's a good read and gives one a general ideal about TA. I'm sure there are more books around with a lot more detailed explanation and examples.
 
#17
yeah me too reading Technical analysis of Financial Markets by John J Murphy? ATM. its really the best book on TA. i've 100s of ebooks of TA (most in pdf formats). but i realised murphy's book is best in all of them, if u r new to TA. its the most basic & easy book on TA. even on amazon, its the most rated book for TA. just search books on amazon for Technical Analysis & sort results by user ratings. u will know whts worth reading. :)
 
#19
@Alchemist,regarding books suggested

With respect to the books which you have suggested above, could you please suggest which book is more simplified as well as cover all topics among "Candlesticks " the one authored by Gregory Morris or that by Steve Nison?

Thanks a million for your reply.

Happy Trading.
 

Alchemist

Administrator
Staff member
#20
With respect to the books which you have suggested above, could you please suggest which book is more simplified as well as cover all topics among "Candlesticks " the one authored by Gregory Morris or that by Steve Nison?

Thanks a million for your reply.

Happy Trading.
Both are good books and cover all basics of candlestick charting.

Steve Nison's "Japanese Candlestick Charting Techniques" is probably the best selling book on candlesticks, but I haven't read it.

I bought "Candlestick Charting Explained" by Greg Morris because it was available in bookstores at that time.

An Indian version of "Candlestick Charting Explained" is available and costs only Rs. 350. I don't think an Indian version of "Japanese Candlestick Charting Techniques" is available.
 
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