Customer Reviews

The Technical Analysis of Stocks, Options and Futures: Advanced Trading Systems and Techniques

5 star:		(2)
4 star:		(1)
3 star:		(3)
2 star:		(1)
1 star:		(1)

 

 

This book covers a few of the more popular indicators in some detail, and as such I think it's a helpful book. Some of the more encyclopedic volumes, like Marty Pring's, can be overwhelming. This is not a bad place to start learning about technical analysis, or to review some basics.

As and introduction to technical analysis techniques and their application, this book is satisfactory. Unfortunately, it was written pre-internet and pre-laser printer (mid/late 80's). The example charts are a bit ragged - they look like they were printed on an old dot matrix printer - and they aren't especially clear. And much of the book is dedicated to step-by-step proceedures for doing the calculations - not terribly useful information when all this analysis is now available for free via the internet.

Given the price, I would recommend more recent books by Martin Pring or the updated classic by John Murphy. The practice of technical analysis has changed dramatically since Eng authored his book.

This book is about ten years old so I hesitated to buy it. Since it's been out so long I borrowed it from my local public library first. Well, after reading it I decided I needed it in my reference section so I went out and spent the bucks. Hey, so I wasted some time but this book isn't cheap Eng's other books go for $80, so this is a relative bargain). What's so good about this book? Well, I got Pring's and Murphy's books but Eng's book really help me put everything together. He takes a technical analysis approach and applies real world charts to its application. NOW THIS IS REALLY WHAT I NEEDED! The other authors are theoretical. Mind you, now, Eng makes errors in applying the methods but he points them out. He states black and white that certain applications of certain techniques are questionable. How helpful is this? Pretty good. I've made a lot of mistakes in the past when trying to use technical analysis because I tried to force the methods to the charts. A no-no. Eng wrote when to use certain technqiues and when not to use them. This gets my respect and deserves 5 **** alone.

Pretty good book that was recommended to me. The best way to describe it is that this is the "physicians desk reference" equivilant for traders. It also gives contex to how the old school technicians used to trade before complex charting platforms were available.

This book is for an intermediate trader. It has a lot of knowledge but anyone sho has been trading in Options or Futures will find it too basic.

Having read about various types of technical analysis different places, this book finally wrapped it all together in a comprehensive, yet easy-to-comprehend kind of a way. The methods presented in the book are timeless, making the age of the book insignificant. I recommend every serious trader to purchase this one!

One person's view of how various technical analysis tools can be organized into a mechanical structure that enables a person to trade better no matter what the market condition is. Why should we listen? Because the author is a seasoned professional trader of his time.
Each chapter of the book focuses on one technical indicator or technical discipline. Many examples are provided to illustrate the concepts and how they are used in interpreting charts and making trade decisions. The rules explained in the book are pretty explicit so they are easy to understand. One of the most important feature of the book is not inside the chapters though, which are the 2 big tables printed inside the front cover and the back cover. They are the ground rules and the core framework Eng is trying to convey to the readers.
Although the book was written with a lot of information, it is pretty outdated in 2005. Most of the computer programs mentioned in the book no longer exist. Daytrading price patterns have changed a lot due to the impact of program trading. Many reference to calculations are incorrect which is common among books written in that period. Thus, the reader can only utilize the information in the book by cross verify the markets they are going to trade to see how the various trading rules can be fitted into their own plans.
As a whole, it is a good book that summarized what real pro traders do during the era it was written. Even if you find the information no longer applicable today, you will still find that it is a good read.

I read this book a couple years ago. On my first pass, I really enjoyed reading the book. The material seemed to be well presented. I'm a programmer and I needed a volume indicator for my charting application, and OBV was the way to go. I began writing the algorithms to add an OBV indicator to my application, and that's when I began noticing them. ERRORS. In the heart of the technical discussion of OBV, dozens of discrepancies and vague sentences that made it near impossible to generate accurate algorithms. It's a good thing I had other resources at my disposal. I contacted the author to get clarifications and I received a form letter. That was a lot of help. I was also sent a catalog, and encouraged to purchase high dollar training courses. Right! That book remains on my shelf, unused. There are many other sources, that are much more reliable, that don't require an author's intervention to clarify details! Personally, I wouldn't purchase another book by this author. At one time, he may have had a passion for trading and teaching, but it is no longer evident.