Reddit reviews Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
We found 34 Reddit comments about Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance). Here are the top ones, ranked by their Reddit score.
Prentice Hall Press
> Algorithms control 'optimize' the financial markets, I create some of these.
Me too. But this is the simple stuff. Financial markets are easy, considering that most of the other guys use simplistic models.
For an expert in signal analysis like me, the usual textbooks in financial markets are very elementary. For instance, they model price sequences with moving averages. A twenty days moving average gives you an estimate of the price ten days ago. If you want an estimate of the price today you need something better than that. An optimized digital filter would be the place to start.
My point is that the state of the art is much more advanced than a basic analysis would indicate. No one is publishing exactly how they do market analysis, for very obvious reasons. It could be that markets have already been dominated by artificial intelligences.
A good way to look at volume is like pressure. Higher volume = higher pressure. Imagine it like pressure in a pipe. Thus if there the price is increasing, on high volume, the momentum is strong, and it takes a lot of pressure to reverse that momentum - and vice versa (price decreasing on increasing volume, you'll often see the floor drop out).
Note that virtually all modern-day trading indicators are based off price and volume. Back in the day (pre-1950's), price and volume were the primary thing traders looked at (in the absence of the 100's of different trading indicators used today).
If you want to learn more about volume and technical analysis, here are one of the best books on the subject:
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=sr_1_1?ie=UTF8&qid=1479917231&sr=8-1&keywords=technical+analysis
This is also an awesome book, talking about how a trader in ~1950's used pretty much only price and volume to know what to invest in, an enjoyable read too I'd say (I just noticed the kindle edition is only $1, you should definitely check this book out):
https://www.amazon.com/How-Made-000-Stock-Market/dp/1614271690/ref=sr_1_1?ie=UTF8&qid=1479917478&sr=8-1&keywords=how+i+made+2+million+dollars
These two books
https://www.amazon.ca/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
And
https://www.amazon.ca/Technical-Analysis-Complete-Financial-Technicians/dp/0134137043
It is like any other job, if not harder. You are entirely responsible for your decisions here. No boss to complain of, no sabotaging co-workers to blame. Just you and your decisions. And it will demand your devotion beyond the 9-5 job. You'll be on charts and reading analyses during weekends, trying to understand the political environment surrounding the instrument you are trading. And still, you may (or will) fail. Markets gonna do what markets gonna do. The only variable in your control is your reaction to it.
To get a feel of what kind of stuff you would be dealing with, check out some books that have a more rigorous foundation for trading:
The last one is not too important for Forex, but it is necessary to better understand other financial instruments and appreciate the deeper foundations of Finance.
I think books 1 & 2 are absolutely necessary. Consider these as "college textbooks" that one must read to "graduate" in trading. May be thrown in Technical Analysis of the Financial Markets, so you get the "high school" level knowledge of trading (which is outdated, vague, qualitative and doesn't work). We are dealing with radical uncertainty here (to borrow a phrase from The End of Alchemy), and there needs to be some way for us to at least grasp the magnitude of what few uncertain elements we can understand. Without this, trading will be a nightmare.
Book 1: https://www.amazon.com/Japanese-Candlestick-Charting-Techniques-Second/dp/0735201811
Book 2: https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
Read through every page, twice. Then start putting things into practice. Once you think you're comfortable in your strategy, write down your plan of attack and strategy/rules for trading. Seriously, write it down in MS Word, print it out in huge font, and pin on the wall next to your trading computer.
YouTubers...eh, there are only a few that I like although I'm sure there are more out there I just haven't found. This guy explains things pretty well and knows how to actually use indicators, unless like most of the shills on Yt. https://www.youtube.com/channel/UC9yk_6ks1g1ipJJsxtLKLcA He doesn't show trades but the basic underlying concepts are all you need. The rest is up to you on how to employ those techniques into your owns strategy.
Only other thing you need is patience, which is where I believe most traders fail. You need to have patience to wait for those ideal trading setups to materialize. Sometimes this can days or even weeks before you find one, when you're first starting out. Then you get in impatient and trade off some half-ass setup that doesn't quite mark all the check boxes for your ideal 'buy signal' and then you get burned.
Watching someone else make trades hasn't ever taught me anything, because every single trader is different. Different lifestyle, time available for trading, risk tolerance, and 10+ other factors means what works for them is probably NOT going to work for you/me.
I have a recommendation that's not entirely software.
2 books.
http://www.amazon.com/gp/aw/d/0470382058
http://www.amazon.com/gp/aw/d/0735200661
And I use this site for charting.
https://www.tradingview.com/
Here is the mobile version of your link
I am not by definition or profession a "trader." I trade on and off when market conditions warrant the hassle.
I learned through mentors and reading texts on the subject.
A good starting place might be reading:
Murphy's "Technical Analysis of the Financial Markets"
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
I'm currently reading "Technical Analysis of the Financial Markets": http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
I've also read "How I made $2,000,000 in the stock market" http://www.amazon.com/How-Made-000-Stock-Market/dp/1607964929/ref=sr_sp-atf_title_1_1?s=books&ie=UTF8&qid=1374989664&sr=1-1&keywords=how+i+made+%242+000+000+in+the+stock+market
I like both.
For the technical analysis side (as in, trying to use where the price has been, to predict where it will go), there is only one book worth having:
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/
It covers everything, and unlike 90% of books on the subject it actually explains the theory of what it's talking about.
Beyond that, howdytest's list of links is a good start.
Yes you need to learn technical analysis, if you did not know that what exactly were you doing in the last 6 months?
http://www.amazon.in/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
These are investing and trading books I'd read. Even if you don't believe their strategy, others do, and that makes them important to read.
http://www.amazon.com/Reminiscences-Stock-Operator-Investment-Classics/dp/0471770884
http://www.amazon.com/Trading-Living-Psychology-Tactics-Management/dp/0471592242/ref=pd_sim_b_27
http://www.amazon.com/exec/obidos/ASIN/0393315290/$%7B0%7D
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=pd_sim_b_28
http://www.amazon.com/One-Up-On-Wall-Street/dp/0743200403/ref=pd_sim_b_26
Murphy's is widely considered canonical:
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
You can start with any classical TA 'bible':
Technical analysis of the financial markets, the Bible of TA.
https://www.google.nl/url?sa=t&source=web&rct=j&url=https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661&ved=0ahUKEwif24yCuMLVAhUIalAKHaHKDbQQFggeMAE&usg=AFQjCNHMFl7hGuZPPTKRdIaFpTT4v9e5qw
Https://www.google.nl/url?sa=t&source=web&rct=j&url=https://cdn.preterhuman.net/texts/unsorted2/Stock%2520books%2520029/John%2520J%2520Murphy%2520-%2520Technical%2520Analysis%2520Of%2520The%2520Financial%2520Markets.pdf&ved=0ahUKEwif24yCuMLVAhUIalAKHaHKDbQQFggcMAA&usg=AFQjCNHcLIN3tv5_HEMqtplS_Q4LhxiIPA
My favorite is Enhancing Trader Performance, a fantastic, easy-to-read book, very thorough but not too heavy on the technical side. I also did my best in understanding this one, that is supposed to be the bible of technical analysis, but I wasn't able to finish it or understand all of it. It is an excellent reference, though.
For the lazy, I strongly recommend following Goomboo's Journal at Bitcointalk, who gives excellent, sober and well-written daytrading tips.
Marketing has taught my brain to type this way. It is Optimized for mobile and it almost drags the reader through reading the whole thing.
There is one book that he recommends: https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661 It is a $60 book though.
I would really suggest reading this book before you start trading: http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=sr_1_1?ie=UTF8&qid=1310411069&sr=8-1
I would also really suggest you not trade in your real account, until you have read the book AND lost all your money in your paper account (try to lose the money as quickly as possible, it sounds harder than it is).
Once you've done all that, I will be more than happy to answer any questions you have about trading technicals or fundamental analysis of a company.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) Hardcover – January 1, 1999 by John J. Murphy (Author)
The Bible of the religion of the triangles.
https://www.amazon.com/gp/product/0735200661/
This is the old testament, the one before Fibonacci technical analysis, don't remember which Fib book is the new testament.
This covers the basics very well
https://www.amazon.com/gp/aw/d/0735200661/ref=mp_s_a_1_1?ie=UTF8&qid=1494898542&sr=8-1&pi=AC_SX236_SY340_FMwebp_QL65&keywords=technical+analysis+of+the+financial+markets
Someone asked for a book suggestion to learn.. might as well share:
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
You-are-full-of-SH1T: ^^original ^^reddit ^^link
If you are being serious and not trolling, I will help.
I don't want to give any personal information away, but education is important, but life experience and studying on my own (trading and studying economics 12+ hours a day) is what helped me.
Education helps build the groundwork for understanding theory, but I would say on 50%.
The most important thing, in my opinion, is to understand theories that are in all aspects of life. For example, everything we do (food, sex, etc) is in self-interest.
Another theory, in engineering (electrical) is path-of-least-resistance.
Just any life theory you can apply to economics ... economics is simply, in my opinion, how the world works and how people interact with each other. If this was the year 1000 B.C., I would be studying why you trade 10 pounds of rock for 10 pounds of wood. I would be studying why that is the current trade, and I would be studying what motivates you to do that.
Let me be very clear, DO NOT read any books that give you advice on how to make money, anything with 'bull', 'bear', 'buy', 'sell' in the title .. DO NOT BUY ... they are taking basic theory and selling it. Trading, economics is full time because the world is constantly changing, if they were good, they wouldn't have time to write a book AND the time to write a book should be less valuable than time invested into the markets.
As far as books, read anything on Microeconomics, Macroeconomics, Computer Science, Basic Engineering, electronic principles, at least one book on human sociology, governments, physiology, war (hint - war is economic gain), etc.
STAY AWAY FROM THE WORLD IS GOING TO END BOOKS. If something bad is going to happen, it will happen, if you are not good enough now or you aren't on the 'in-crowd', than let it happen and profit from it. don't stress about what *might happen, stress about today!
Specific books,
A couple classic books...
This takes years and years to get the hang of, and it is very stressful and competitive (the world is constantly moving and changing and you are competing to understand it better than anyone).
Remember, if anyone is just 'talking' about it on TV freely or whatever, 99% of the time they are trying to sell bullshit book or something.
Don't listen to what people say is going on, listen to the people who already made something happen. If the markets crash today, than tomorrow ... look for who knew about it and study what they were doing.
Didn't read this, I was replying one-by-one, if you are there .. just apply all the computer science theories that you have learned into the real world. Plan and simple, go with your gut.
I assume you took a computer science/ethics class where you debated and talked about legislation, morals, ethics in the internet/digital age? apply those to economics.
All you are studying is why people, businesses, and governments do what they do. In the end, it is all about self-interest.
Hope this helps.
Oh and if you aren't reading at least 5-10 articles a day on current events (literally pick out random articles, Rueters, bloomberg, WSJ, Scienctific America, Economist) to include foreign (german, chinese, etc) sources, than you won't get ahead.
A lot of analysts, all they actually do is wake up and 4 in the morning, spead 3-4 hours reading what happened over night, and then trade based on that.
here you go bud :)
If you're interested in trading.
A little deeper.
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The original comment's content was as follows:
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> Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) https://www.amazon.com/dp/0735200661/ref=cm_sw_r_cp_apa_fwgTBb55WXR8N
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> All you really need, not a ref link
To add to this, I work in the Futures industry, and pretty much the place everyone starts at is the following book:
Technical Analysis of Financial Markets.
It's extremely elementary, so don't expect to read it and start making money, but it is by far the best starting point and a lot of very successful traders still treat it like the bible.
A more "narrative" style book that is respected is The Way of the Turtle.
The following are a few of what I consider the best books for learning charts/technical analysis:
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
Japanese Candlestick Charting Techniques, Second Edition
Trading for a Living: Psychology, Trading Tactics, Money Management
I worked at the CME in Chicago as a broker and the books the guys told me to get when I first started were Options Pricing and Volitility and Technical Analysis of the Financial Markets. Learn options is the best advice, you will get WAY more return for your buck plus learn to protect yourself in your various positions using various strategies.
Very dry reading but its worth it. Good luck!
This is what you wanna read. Free PDFs can be found
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
Hello everyone, need a GOOD PDF copy of this book: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications.
All pdfs I got were with zoomed out pages and unaligned from page to page. You can send me a peek of 2 or 3 pages for me to check if it's good enough and then I'll pay.
I'm willing to pay 5$ by PayPal.
Thank you in advance!
My brokerage's website has really good learning resources. I've known a lot about trading before I looked there, but I even picked up some new things that's helped a lot. And sometimes reviewing what you already know isn't necessarily a bad thing if you're trying to get better at it.
As far as books, I just bought this one: http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661?ie=UTF8&qid=&ref_=tmm_hrd_swatch_0&sr=
I strongly recommend this book for all beginning investors:
Technical Analysis of the Financial Markets
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661