Customer Reviews

Chart Your Way To Profits: The Online Trader's Guide to Technical Analysis (Wiley Trading)

5 star:		(49)
4 star:		(15)
3 star:		(2)
2 star:		(0)
1 star:		(9)

 

 

Knight covers using chart patterns for technical analysis exhaustively and completely. He covers Prophet Charts extensively, which is not surprising since he is founder and continuing principal architect of that software. His book is especially useful for Prophet Chart subscribers who have access to market data through the Investools and ThinkorSwim investing and trading (respectively) providers.
For those who disdain technical analysis in favor of fundamental analysis, a careful reading of this book convinces that you don't have to believe in technical analysis but you can't ignore it.
The book contains an e-mail address for the author, and concludes with a "Practical Guide to Trading" chapter.

I found out about Tim Knight's new book, "Chart Your Way To Profits: The Online Trader's Guide to Technical Analysis", from reading his blog (which by the way REALLY ROCKS). And, boy am I glad I found this book. It would not have appeared on my standard Amazon lists, so I figure this is fortune (i.e., $$$$) calling.

I've skimmed the book, and found lots of topics of interest. As an INVESTools student, I have already been using the new ProphetCharts charting software for about 3 months. I thought I knew how to use it. I'm finding features of the software I didn't know existed (I won't bore you with my lack of knowledge, get the book and see for yourself).

And I'm already getting a feel for how a professional trader uses charts. This is the real reason I got the book. Reading Tim's blog every day, he includes a LOT of relevant charts, but little reasoning about "why he created the chart the way he did". Reading his book is becoming a desk reference, helping me to understand why he created the chart the way he did, which is also helping me create my charts.

This is a must-have book for any INVESTools student, ar any investing student that wants to start "playing like the big boys". It is an easy reading book, filled with examples and ideas. There is even a little humor, which makes remembering the concepts easier. I'm going to read this an hour every night, but not before bed (it would keep me up, and make me want to go to the computer and try some of the charting techniques on some of my current trades).

I'm an active sell-side options trader and came across this book almost by accident. It is very well written and filled with lots of current examples of the most common and reliable chart patterns. I have no connection to the author or company, but I have a retail account at Thinkorswim and find the Prophet charts excellent, even as a more advanced trader.

The book should be required reading for anyone that uses Prophet charts, as the book lists lots of suggested settings which are only relevant if you use the product. Specifics aside, it is still an excellent book and much easier to read than most of the other ones out there, charting can be a very dry but important subject to study, this book is highly recommended for the beginning and intermediate technical trader.

Good stuff.

This book is not fairly advertised. It is really a handbook for the author's prophet software. That software is availabe on the Internet as well as through the thinkorswim platform.

In addition to being a handbook it is also a primer on all different kinds of technical analysis, but that seems to be a secondary purpose of the book.

If you use the prophet application and you are a new trader, this books might be for you. Otherwise you won't need this book. Better to read the author's blog instead to get an idea of how one persons trades (for what that is worth).

If you use Prophet Charts you will love this book written by the creator of the best charts on the web. A solid mix of trading techniques and tips, and hints on making better use of this fabulous tool. If you do not use Prophet Charts (yet) read this and see what you are missing. This is a "must own" book on trading for anyone using technical analysis. - Bob Alford-

Unless you are a subsriber to the author's charting website, please give this a pass. For those who want to learn TA, there are plenty of better alternatives, say, "High Probability by Marcel Link".

I was one of the first to read Tim's book and I have to say I have read it cover to cover 3-5 times and go back to major chapters on a daily basis. As a successful trader I use all resources possible to get an edge and Tim's book gives you the edge we all are looking for. There is decision making put on the reader to challenge them to get better at using CHARTS as a way to succssfully navigate the markets and even though we do not see the markets in the same way ...the classic style and easy read of ALL CHARTS make the book a MUST BUY !!!

If you are in the business or just starting to trade , Chart Your Way To Profits is a book that needs to be near your computer during these times where all resources are needed to be profitable. No one does charts or explains them better than Tim Knight in this book. I am looking forward to many more from this great talent.

http://www.ttthedgefund.blogspot.com

Tom Malone

I bought this book in order to learn how to use the Prophet Charting Tools. The book provided an excellent and clear summary for this purpose.
Aside from this application, Knight's explanations provide very useful background for understanding how to exploit the bear side of the market, which tends to be favored by Knight. If you are uncomfortable in investing on the short side but want to learn more, this is a good place to begin.

(From Page 141)

"When prices violate a trendline, however, it should normally be heeded. To illustrate this point imagine yourself driving a car down a deserted highway. Since you want to understand the concept of trendlines well, you decide to not look at the road ahead but simply open your door and keep your eye on the median line. You have no idea how the road will twist or turn or whether it will continue straight. . .For a while, the yellow line whizzes by more or less in the same place. It sometimes move a little away from the car, but it soon returns to be just outside the driver's door. Suddenly, the median line moves underneath your car, disappearing from sight. You'd better look up quick to see what's happening, because the road must be turning!"

The above is the kind of zippy and delightful writing that you will be reading if you purchase this book. I know that if I'm in this car, I want Tim in the passenger seat providing useful advice for the profits and potential pitfalls ahead. He's the first to say that technical analysis is not a be all end all and provides appropriate cautionary advice. The book has a pleasing conversational tone that de-mystifies technical analysis.

I'm not a trader, nor am I an expert in technical analysis. But, I am an investor who wants useful tools in my arsenal. Technical analysis is one such tool. Beginners will find this book accessible with Tim's straightforward and engaging writing style. If you are a user of Prophet.net (which I am not), you will find many tips on using this service. For non-users, you can skip over these brief sections and immediately dive into the meat and potatoes with lots of gravy.

[...]

As a reader of Tim's blog for the last few years, I finally bought his book and am glad I did. Tim's approach to Technical Analysis is simple, yet his concepts really do work. He focuses on just a few of the main TA tools and he really explains each concept in an easy-to-understand language. It was a very refreshing and engaging read after reading other books on TA which confounded me with the numerous concepts that all jumbled into each other after a while. I highly recommend this book to anyone looking to learn Technical Analysis, as well as anyone looking to expand their knowledge.