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Technical Analysis of Stock Trends [Hardcover]

by Robert D. Edwards, John Magee, W.H.C. Bassetti
4.5 out of 5 stars  See all reviews (16 customer reviews)


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Book Description

February 26, 2007 0814408648 978-0814408643 9th
"Technical Analysis of Stock Trends" was the first book to produce a methodology for interpreting the predictable behavior of investors and markets. It revolutionized technical investment approaches and showed traders and investors how to make money regardless of what the market is doing. Now in its ninth edition, the book remains the benchmark by which all other investment methodologies are measured.

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Editorial Reviews

Review

"...worth a space on every technican’s bookshelf.”

-Technically Speaking (Market Technicians Association monthly newsletter), May 2007



“With a focus on pragmatic portfolio theory, editor Charles Bassetti significantly contributes t the technical analysis body of knowledge especially related to tactics, and has created a book worth a space on every technican’s bookshelf.”

-Technically Speaking (Market Technicians Association monthly newsletter)

Book Description

Technical Analysis of Stock Trends was the first book to produce a methodology for interpreting the predictable behavior of investors and markets. It revolutionized technical investment approaches and showed traders and investors how to make money regardless of what the market is doing. Now in its ninth edition, the book remains the benchmark by which all other investment methodologies are measured. An indispensable reference for technical traders, investors, and finance professionals, the ninth edition features:

* Expanded treatment of Magee’s ""basing points"" procedure

* In-depth discussion and dissection of Dow Theory

* Extensive new material on commodity trading

* Much-needed perspective on short-term and futures trading

The newest incarnation of one of the true classics of market analysis, this book will be a crucial resource for both seasoned veterans and the new generation alike."


Product Details

  • Hardcover: 840 pages
  • Publisher: AMACOM; 9th edition (February 26, 2007)
  • Language: English
  • ISBN-10: 0814408648
  • ISBN-13: 978-0814408643
  • Product Dimensions: 9.5 x 6.6 x 1.8 inches
  • Shipping Weight: 3 pounds
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (16 customer reviews)
  • Amazon Best Sellers Rank: #113,011 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews
37 of 39 people found the following review helpful
5.0 out of 5 stars Not just updated, completely new and must have... April 28, 2007
Format:Hardcover
If Edwards and Magee wrote the bible of technical analysis in 1948 when they first published "Technical Analysis of Stock Trends." then why do we need a Ninth Edition of their classic? This question was foremost in my mind as I began reading this recently released version of a book I spent many hours with as I prepared for the CMT exams. After reading all 832 pages, I realized that in many ways, the financial markets, and technical analysis, are finally maturing to the point where we can fully grasp the significance of what was first written almost sixty years ago. With a focus on pragmatic portfolio theory, editor Charles Bassetti significantly contributes to the technical analysis body of knowledge especially related to tactics, and has created a book worth a space on every technician's bookshelf.

In this edition, Bassetti delivers much more than an update - it's actually a new book. He focuses on strategies for increasing profits:

* The basics of traditional chart analysis are clearly presented, just as Robert Edwards meant for them to be. In keeping with the practice of earlier editions, Bassetti retains the original charts showing examples of patterns from the 1940s and earlier. He also includes more than two dozen new charts, demonstrating that the same old patterns still work today. The detailed discussion of the market psychology that forms these patterns may stimulate modern analysts to program the patterns.

* Adds a comprehensive explanation of Magee's "basing points" procedure for setting initial and trailing stops on any position. Bassetti adds a chapter and charts to clarify this powerful concept, which in itself is worth more than the cost of the book.
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9 of 10 people found the following review helpful
By M.M.
Format:Hardcover
This book has transformed the way that I think about markets more than any other. There are so many nuggets buried in this book, I read it twice and I'm currently working through some sections for a third time. The basic premise of the book is that human behavior never changes and can be discerned through careful analysis of the tape. After trading billions of dollars in energy commodities I can honestly say that I have found premise of the book to be absolutely true! For those of you in the San Francisco Bay Area, I encourage you to consider taking the summer class at Golden Gate University taught by Mr. Bassetti, which teaches students how to build trading systems around the concepts presented by Edwards and Magee.
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4 of 4 people found the following review helpful
5.0 out of 5 stars The Classic Text on Chart Reading February 8, 2008
By R. Rold
Format:Hardcover|Verified Purchase
Originally published in 1948, this book is absolutely one of the greats on technical analysis (i.e., using price action, volume and time). The authors claim that all a trader really needs to know is found in the charts. Fundamentals can be tossed aside. You just need to know how to interpret what the chart is saying and then act by taking a position.

But does this approach work? This will depend on the individual. For example, you and I can trade the same stock for 3 years applying technical analysis but the end result can very well be that one of us ends up with a big profit and the other a big loss. The reason is due to the following factors: which patterns to take, the spot where you get in, how far to let a position move against you, and where to take a profit. As you can see, technical analysis is somewhat subjective.

You probably know that there are no guarantees in the trading game. And chart formations are NOT infallible. All the stuff taught in this book will short circuit at one time or another causing a loss. You could even fall into a losing streak. Thankfully, the authors give fair warning about the dangers involved. But despite the unpleasant prospects, this book remains one of the very best places to learn the theory of technical analysis of charts. I recommend going with the 4th or 5th edition, that is all you really need to capture the essence of the material, plus, you'll save yourself a few bucks.
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5 of 6 people found the following review helpful
4.0 out of 5 stars Great resource for anyone investing in the stock market! November 19, 2011
Format:Hardcover
If you ask any stock broker, investment banker, or financial advisor, for resources to learn about trading, its very likely that this renowned book would be on their list. More than six decades and nine editions later, Robert Edwards and John Magee's Technical Analysis of Stock Trends is still considered the gold standard of technical analysis based trading. The current 9th edition has been updated to stay relevant in the current environment.

The editor starts off with an introduction on how he went about adapting this classic. However, it quickly jumps into a lot of theoretical trending information with very detailed coverage of the Dow Theory from the basic theory to specific examples in the past. The authors then discuss various trends including my favorite the Head and Shoulder trend line to help you predict which direction a stock will move based on past data. Several examples (over 200) are introduced to make sure the reader has understood this concept. I really liked that the editor pointed out the uncertainty with following such a trend system but at the same time promoting its benefits. The authors also outline the different strategies (options- either put or call) based on the predicted movement of a particular stock.

The second half of the book is devoted to specific tactics that can be utilized during different market conditions. Essentially, the authors break up the different theories into ways that you can apply them.
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Most Recent Customer Reviews
3.0 out of 5 stars Good but not best
Even though it's an old book but it's like you need to learn the past (history) to understand the present in order to manage better future. Read more
Published 9 months ago by Prasit Rerkumnueychok
5.0 out of 5 stars Trader's Bible!!
Great Book. I learned to hand chart over 40 yrears ago using this book as a reference. Teaches technical analysis to traders. This is my 3rd copy (I loan it out too much). Read more
Published 23 months ago by Anna Reisman
3.0 out of 5 stars As Good As Any on a Method That Leads to More Blind Alleys than Clear...
In the age of overdeterming macroeconomic factors, ETFs, high frequency trading, hedge funds, etc., technical analysis is a total waste of time for the average Joe sitting at his... Read more
Published on October 26, 2011 by R. Bailin
5.0 out of 5 stars Tools to Make Money
I am a former student of Professor Bassetti; I took his FI 498S Building Efficient Trading Systems class this summer at Golden Gate University. Read more
Published on September 8, 2011 by Bart Pestarino
5.0 out of 5 stars Review
I've read quite a significant amount of trading books, but this one beats the rest by far. It was written in layman's terms with practical applications. A real treasure trove.
Published on August 16, 2010 by Ocky
2.0 out of 5 stars Project Manager
The book is a reprint of a much older book. Since the original book was written there have been a number of significant advances in computing power and software and this book is... Read more
Published on September 12, 2009 by Bronte W. Savage
5.0 out of 5 stars The answer you're looking for is "Yes. Buy it."
If you're reading this then you're probably skimming the reviews of this book in order to figure out if you should buy this book. The answer is yes. Read more
Published on July 6, 2009 by John W. Davison
5.0 out of 5 stars old style
adapt to study the general and global laws of techinal analysis; no for fanatical man, but for who want to create a persoanl knowledge about this discipline
Published on September 7, 2008 by David Fabio Mele
5.0 out of 5 stars Comprehensive Book on Chart Pattern Analysis
Technical Analysis of Stock Trends is considered to be the Bible of Technical Analysis. I would revise that to say that it's the Bible of chart pattern analysis, because it... Read more
Published on January 30, 2008 by Brandon Steele
5.0 out of 5 stars The lone resident of the Tabernacle
Outstanding!!

The 9th edition's BASING POINTS could win the Nobel Prize for converting Anal-ysis into Analysis. Read more
Published on October 24, 2007 by V. Joseph Dantas
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