In the stock market, we have a wide range of books to learn technical analysis. In this article, we will look at 5 best technical analysis books to help you understand various topics covering chart patterns, crowd psychology and market behavior to develop your own trading system.
You can use these technical analysis books to trade all most all markets including forex, crypto, futures and options and commodities market. Concepts are same everywhere irrespective of the market you trade.
These technical analysis books are timeless masterpieces read and recommended by many chart analysts. It will help you to master the art of trading.
Getting Started in Technical Analysis – By Jack Schwager
Jack Schwager is perhaps the most recognized and respected name in the financial market. He is also known for his bestselling market wizard series. JACK D. SCHWAGER is the CEO of Wizard Trading, a commodity trading advisory firm that has been managing client funds since 1990.
In this Getting Started in Technical Analysis book, Jack Schwager has explained basics as trends, trading ranges, chart patterns, stops, how to choose entry and exit points and pyramiding approaches.
Two most popular highlights in this book are “Support and resistance should be considered approximate areas, not precise points” and “Duration of the Trading Range. The longer the duration of a trading range, the more potentially significant the eventual breakout”.
It’s a must read for beginners.
The Art and Science of Technical Analysis – By Adam Grimes
The Art and Science of Technical Analysis written by Adam Grimes.
Adam Grimes has over two decades of experience in the industry as a trader, analyst and system developer.
His book explores why randomness prevails in the stock markets most, but not all, of the time and how technical analysis can be used to capture statistically validated patterns in certain types of market conditions.
Technical Analysis of Stock Trends – By John Magee
Technical Analysis of Stock Trends is written by Robert D. Edwards and John Magee. John Magee is considered the father of technical analysis, while Robert D. Edwards was a pioneer in pattern formation and trend analysis.
It’s a comprehensive guide to trading methods and applications. Many traders consider it as a masterpiece. This book covers all the aspects of technical analysis that a trader should be aware of.
It includes Dow theory, almost all chart patterns, strategies to find entry and exit points. The most important part of this book is the analysis of chart patterns and development of the Dow theory.
This book can be an excellent resource for beginners and experienced traders.
Technical Analysis Explained – By Martin Pring
Technical Analysis Explained is written by Martin J. Pring, a renowned expert and educational pioneer in the field.
In this book, you will learn all most everything on technical analysis including Trend-Determining Techniques, Dow Theory, Support and Resistance Zones, Trendlines, Basic Characteristics of Volume, Classic Price Patterns, Gaps, Moving Averages, Bollinger Bands Momentum and Concept of Relative Strength.
Technical Analysis of the Financial Markets – By John Murphy
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications is written by John Murphy.
John Murphy is a former technical analyst for CNBC with over 40 years of experience in the market.
In this book John Murphy has explained how Market action discounts everything, how prices move in trends, top reversal, bottom reversal, gaps, reversal and continuation chart patterns, volumes, moving averages, oscillators and many other technical indicators.
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