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Technical Analysis

Bibliography display legend
 Author Name of Book  
 Name of Publisher City where published Year published
Views on book expressed by Mr. Rajat K Bose
 
 Murphy, John J. Technical Analysis of Financial Markets .
New York Institute of Finance

New York

1999
 

This is, in my opinion, by far the best introduction to the subject of Technical Analysis.

 Edwards and Magee Technical Analysis of Stock Trends, 8th Edition .
.

New York

.
 

This book should be at the hands of whosoever practices technical analysis. In the 8th edition, the new editor has included some new nomenclature to patterns and some commentaries are also added. An Indian reprint is also available from Vision Books, New Delhi.

 Pring, Martin J. Technical Analysis Explained, 5th Edition .

 McGraw-Hill

New York

.
 

Another good introduction on the subject. However, beginners would do well to start with either Murphy and/or Magee.

 Rhea, Robert The Dow Theory .

 Fraser Publishing

USA

1993
 

This is a reprint of an old classic. I have never found any better introduction to the concept of bull and bear market, correction and secondary reaction apart from a detailed description of Dow Theory. It also contains excerpts of from the editorials of the Wall Street Journal written by Charles Dow and later his associates in the late 19th and early 20th century. An Indian reprint is also available from Sterling Book House, Mumbai. A Must Read!

 Pring, Martin J. Martin Pring on Market Momentum .
 McGraw-Hill

New York

May 1997
 

One of the best introductions to technical oscillators and their principles of interpretation. Contains a good chapter on moving averages. An Indian reprint is also available from Vision Books, New Delhi.

 Appel, Gerald Technical Analysis: Power Tools for Active Investors .
 FT Prentice Hall

New Jersey

2005
 

A useful book with insightful discussions by the originator of MACD oscillator.

 Schwagger, Jack D. Schwagger on Futures: Technical Analysis .
 John Wiley & Sons New York 1995
 
Contains a comprehensive guide to chart analysis written with a particular focus on trading applications:
  • Includes a separate 200+ page section illustrating the use of chart analysis in the real world.
  • Details and illustrates several original trading systems.
  • Includes a self-contained primer on cyclical analysis.
  • Describes popular oscillators, the pitfalls in their common use, and guidelines to their successful application in trading.
  • Explains the concept and use of "continuous futures" and compares 10-year continuous futures charts with conventional nearest futures charts for all major U.S. futures markets.
  • Contains a section on trading strategy and philosophy, including over 100 trading tips.
 Elder, Alexander Trading for a Living .
 John Wiley & Sons

New York

1993
 

Another good introduction to the subject. It also contains a very useful chapter on the sentiment indicators like the Advance-Decline Line and New-High-New-Low indicators.

 Bulkowshi, Thomas N. Encyclopedia of Chart Patterns .
 John Wiley & Sons

New York

2000
 

Lots of chart patterns are discussed in details with efficacy statistics. A very useful reference.

Chandey, Tushar and Stanley Kroll
The New Technical Trader .
 John Wiley & Sons

New York

1994
 

Just read it! This book will clear your confusion as to why you need not look at too many momentum oscillators. Discussion on Chande Momentum Oscillator and Variable Moving Average is really very useful. An advanced text.

 Guppy, Daryl N. Market Trading Tactics .
 John Wiley & Sons

New York,  Updated Edition,

June 2000
 

It is a handbook of trading tactics, touching on the major charting techniques and indicators. It shows how to formulate realistic money management techniques and helps the private trader use all these indicators to search for the best trading opportunities. It shows how to plan entry set-ups and how to devise disciplined stop-loss techniques.

 Guppy, Daryl N Better Stock Trading .
 John Wiley & Sons

New York

2003
 

A sequel to the earlier text. An excellent and eminently useful book to help in your trading. It can be used as a step-by-step guide to professional trading. Highly recommended..

 Chande, Tushar Beyond Technical Analysis .
 John Wiley & Sons

New York

.
 

Quite a helpful book, if you want to automate your trading. It teaches you how to develop trading systems. A practical and useful introduction to the subject of trading system development.

 Pardo, Robert Design, Testing and Optimization of Trading Systems .
 John Wiley & Sons

New York

1992
 
Another good introduction to the subject of trading system development.
 Cassidy, Donald Trading on Volume: The Key to Identifying and Profiting from Stock Price Reversals .
 McGraw-Hill

New York

2001
 

Not seen too many books dedicated to volume analysis, this text does offer some useful insights. The negative side is the book is fairly expensive for the insights it offers.

 Nison, Steve Japanese Candlesticks Charting, 2nd Edition .
 Prentice Hall

New Jersey

Oct, 2001
 

If you want to learn Candlestick charting, nothing can be a better starting point than this one. A very well written book with discussion on how to combine candlestick reading with other tools of technical analysis.

 Nison, Steve Beyond Candlesticks .
 John Wiley & Sons

New York

Oct,1994
 

Fascinated with the Japanese approach to technical analysis, want some more methods other than candlesticks, this is the book for you. Describes kagi, renko and three-line break charts. Provides a brief review of candlesticks and previously unavailable candlestick patterns that can be used in equities, fixed-income, foreign exchange and overseas markets.

Prechter, Robert and A. J. Frost
Elliot Wave Principle .
 John Wiley & Sons

New York,     New edition

Jan, 2001
 

One of the pioneering texts in this area of technical analysis. Any Elliott Wave student should read it.

 Poser, Stephen W. Applying Elliott Wave Theory Profitably .
 John Wiley & Sons

New York

2003
 

Poser is one of the few Elliot practitioners who can teach you the subject in a really accessible manner. He tends to combine his technical readings with fundamental analysis as well. A very good introduction to the Wave Theory.

 Beckman, Robert Elliott Wave Explained .
 Irwin Professional Publishing . Mar, 1995
 

This is an easy to understand book on the Wave Theory. Chapters on laws of nature and laws of market, and charting and forecasting crowd psychology are quite useful. An Indian reprint is available from Vision Books, New Delhi.

 Neely, Glenn Mastering Elliott Wave .
 Probus Publishing

New York

1990
 

There are quite a few Elliott Wave practitioners who would swear by Neely. Personally, I found the text to be very complex. It is better to read this book when you have already got a good introduction to the Theory.

 Walker, Myles Wilson How to Identify High-Profit Elliott Wave Trades in Real Time .
 Windsor Books

New York

2001
 

A little known book on Elliott Wave Theory. Walker does it in his own idiosyncratic way but his method is easy to use and quite useful.

 Maclean, Gerorge Fibonacci and Gann Applications in Financial Markets .
 John Wiley & Sons West Sussex, England 2005
 

You get very little material on W D Gann's method of analysis, here in this book that is partly bridged but it is far from adequate. Though a good book in itself but you would be left with the feeling that you ought to know a lot more on Gann to use his method profitably in your trading. Discussion on Fibonacci is quite ok.

 Brown, Constance Technical Analysis for the Trading Professional .
 McGraw-Hill

New York

1999
 

An advance-level prescribed text for the Chartered Market Technician program of the Market Technicians Association of the United States. This book does offer a lot of insights but the author holds back some of her key insights so as not to lose her clients. Still, a highly useful advanced text, it is definitely not meant for beginners.

 Wilkinson, Chris Technically Speaking .
 Traders Press Greenville, Southern California 1997
 

You would get to read lot of traders interviews in many places but getting to read detailed insightful interviews by leading technical analysts is a rarity. Here, in this book you get plenty of them. Your conceptual understanding in technical analysis would surely improve if you read this book. Highly recommended!

 Murphy, John J. Intermarket Technical Analysis .
 John Wiley & Sons

New York

1993
 

When Murphy wrote this book the relationship amongst various assets markets have been pretty much clear to the point of being well established. However, future sequence of real market events have destroyed the neat schema of intermarket relationship between currencies, commodities, stocks and bonds. Yet one should read this book to open one's eyes on the interlinkages between various asset classes.

 Murphy, John J. Intermarket Analysis: Profiting from Global Market Relationships .
 John Wiley & Sons

New York

2004
 

Murphy progresses with time. He questions his own schema presented in the earlier text yet the last three years of development have again shown some fissures in the new and improved statement on equations between various asset classes. He himself admits to such possibilities. All in all, even if you do not get a neat schema to apply in the market it is surely helpful in getting a bearing in today's globalized scenario.

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