Getting Started in Technical Analysis [Paperback]

Jack D. Schwager (Author)

Book Description

Publication Date: February 4, 1999 | ISBN-10: 0471295426 | ISBN-13: 978-0471295426 | Edition: 1

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.

Editorial Reviews

From the Publisher

Technical analysis is the art and science of deciphering chart patterns in order to better analyze and predict prices of a given security. Jack Schwager demystifies technical analysis for investors, introducing them to oscillators, price-and-time charts, on-line charting applications, and much more.

From the Back Cover

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.

See all Editorial Reviews

Product Details

• Paperback: 352 pages
• Publisher: Wiley; 1 edition (February 4, 1999)
• Language: English
• ISBN-10: 0471295426
• ISBN-13: 978-0471295426
• Product Dimensions: 9.2 x 6.2 x 1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (33 customer reviews)
• Amazon Best Sellers Rank: #134,457 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

43 of 48 people found the following review helpful:

2.0 out of 5 stars Not Necessarily a Beginner's Book., April 20, 2000

By 

dsfa "dsfa" (Mira Mesa, CA) - See all my reviews

This review is from: Getting Started in Technical Analysis (Paperback)

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.

25 of 27 people found the following review helpful:

4.0 out of 5 stars Crucial for beginners, January 18, 2001

By 

Peter B. Nelson (Pine Island, MN USA) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Getting Started in Technical Analysis (Paperback)

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) pitfalls to avoid. In my humble opinion, no one should trade until understanding the principles presented here. My one criticism is that the book would be easier to follow if the charts were on the same page as their related commentary, but it is only fair to mention that most technical analysis books suffer the same shortcoming. Overall it does a decent job presenting crucially important information for beginners.

29 of 34 people found the following review helpful:

1.0 out of 5 stars "Getting Started..." won't get you started, January 21, 2000

By 

Victor J. Chung (Miami, Florida USA) - See all my reviews

This review is from: Getting Started in Technical Analysis (Paperback)

I found this book very hard to read. It actually took me several months to finish it, after several tries. I've read a lot of TA books and most I finish in a few days. His explanations are not very good and combined with poor graphics/charts mades them very hard to follow. A more simple, clear and concise writing style is needed for an introductory book. It's wording it's too technical for the beginner and too shallow for the experienced. I don't think this is a good book for a beginner trader. Volume is one of the 'KEY' elements in TA, but this author ignores volume. Was this Schwager guy really a trader? how can he trade without taking volume into account? If you are starting in TA, I suggest you better start with "The Technical Analysis Course"