Revered by many, reviled by some, technical analysis is the art and science of deciphering price activity to better understand market behavior and identify trading opportunities. In this accessible guide, Jack Schwager-perhaps the most recognized and respected name in the field-demystifies technical analysis for beginning investors, clearly explaining such basics as trends, trading ranges, chart patterns, stops, entry, and exit and pyramiding approaches. The book's numerous examples and clear, simple explanations provide a solid framework for using technical analysis to make better, more informed investment decisions and as the basis for mechanical trading systems. Along with Schwager's invaluable trading rules and market observations culled from years of real-world trading experience, Getting Started in Technical Analysis offers in-depth coverage of: * Types of charts-bar, close-only, point-and-figure, candlestick. * Chart patterns-one-day, continuation, top and bottom formations, the importance of failed signals. * Trading systems-trend-following, counter-trend, pattern recognition. * Charting and analysis software-price data issues, time frame/trading style considerations, software research. * he planned trading approach-trading philosophy, choosing markets, risk control strategies, establishing a trading routine.
Not Necessarily a Beginner's Book.
By dsfa "dsfa" - April 20, 2000
It was a little difficult to read and took a couple of months to finish. It's not what I expected from a "Getting Started In...." book. I have read other books in this series like "Getting Started In Options Trading" and that book was utterly great. (Highly recommended by the way.) But "Getting Started In Technical Analysis" was a disappointment. For one thing, some of the concepts weren't thoroughly explained. In other aspects, he talks about a figure of a chart that most of the time is at least 2 pages away. You catch yourself flipping around the pages like crazy, and he doesn't do a very good job explaning the charts either. He does do a good job of laying out all the different aspects of technical analysis but I am not sure how helpful they were in actually getting a feel for them. If you decide to buy this book, don't hesitate to return it. I kind of wish I did.
Crucial for beginners
By Peter B. Nelson - January 18, 2001
This book is dense with information and cannot be approached lightly. I read "New Market Wizards" in one week but this book took two months. As usual, the effort expended is proportional to the benefit received. In particular, the chapter on "Real Life Chart Analysis" is worth the price, and should be three times longer. There, Mr. Schwager shares two dozen of his own real-life trades, accompanied by the charts and technical analysis he used at the time. The reader is given the opportunity to personally apply the techniques learned from the book to second-guess the author. Only on flip pages are the actual trade results shown, annotated with ruminations on what, if anything, should have been done differently. Examples of both successful and unsuccessful trades are given. Approximately half of the book explains technical analysis, and the other half explains basic trading techniques such as money management, system testing, and the psychological (emotional)... read more
Much Too Advanced for Beginners! Good for Intermediates
By Donald Mitchell "Jesus Loves You!" - February 8, 2001
Experts can make the mistake of forgetting how little people know when they first get started. That is clearly the case with this book by Mr. Schwager. If you really want to get started with technical analysis for trading, you will need to find something simpler! Then you can graduate to this overview.I have had the benefit of reading many books on technical analysis and having discussed it with many technicians. From that perspective, I found the book to be a delightful, down-to-earth, nondoctrinaire explanation. But I wouldn't have made it past the first five chapters when I was just getting started with technical analysis.I graded the book as a one star for beginners and as a five star for intermediates, and that averaged to three stars. Judge accordingly!Most investors argue strongly in favor of or against price-based analysis. Those who trade a lot usually swear by charts, and those who are long-term investors usually ignore charts. The classic debate is between... read more