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Martin Pring on Market Momentum (Paperback)

~ (Author) "Momentum measures the velocity of a price move..." (more)
Key Phrases: new high indicator, trendline construction, trendline violations, Selection Index, Summation Index, Swing Index (more...)
3.6 out of 5 stars  See all reviews (10 customer reviews)

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Editorial Reviews

Review

"Eureka! There's gold in these here pages! I have seldom been as excited about a new book. For many years there has been an urgent need for this very book, and at last, here it is! Essentially, it is a full-length, in-depth treatment of the majority of the technical studies and indicators that are included in virtually all stock and futures analytical software programs. This book... is the definitive guide, in my opinion. Market momentum is covered "from A to Z." It begins with a primer on the basic principles that apply to all momentum indicators. Overbought/oversold conditions, divergences (both elementary and complex), advance breakdowns and breakouts, are all covered in detail. Combining momentum with trendlines, moving averages, price patterns, and peak/trough analysis complete the basic survey. I give this book my highest recommendation (to the appropriate audience). It will prove equally valuable to traders of stocks or futures." -- ED DOBSON, President of Trader's Press

"Understanding market momentum is one of the most basic secrets to successful trading, and one concept that I would recommend every novice trader to master. Martin Pring explains in a clear and straightforward fashion not only momentum but a host of popular indicators; in addition, the reader will gain insight from the way that the veteran analyst and money manager applies those techniques." -- Thom Hartle, editor of Technical Analysis of Stocks & Commodities --This text refers to an out of print or unavailable edition of this title.


Product Description

The book examines the principles underlying market momentum and discusses the advantages and disadvantages of various oscillators used to measure momentum. Written by one of the world's foremost technical analysts, the book breaks new ground in its in-depth discussion of stochastics, relative strength and the very popular MACD indicator. Pring's unique KST system combines oscillators and time cycles to produce very reliable trading signals. Topics include: Interpretation of momentum indicators; Characteristics of overbought and oversold markets; Trends analysis using momentum indicators; pros and cons of all major oscillators; How to use Wilder's directional movement system.
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Product Details

  • Paperback: 368 pages
  • Publisher: McGraw-Hill Companies (May 1, 1997)
  • Language: English
  • ISBN-10: 0786311762
  • ISBN-13: 978-0786311767
  • Product Dimensions: 10 x 7 x 0.8 inches
  • Shipping Weight: 1.4 pounds
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon.com Sales Rank: #647,451 in Books (See Bestsellers in Books)

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More About the Author

Martin J. Pring
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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Inside This Book (learn more)
First Sentence:
Momentum measures the velocity of a price move. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
new high indicator, trendline construction, trendline violations, volume oscillator, whipsaw signals, momentum interpretation, price oscillator, oversold lines, momentum series, complex divergences, momentum indicators, downside volume, perpetual contract, failure swing, overbought level, overbought reading, oversold levels, oversold readings, overbought condition, timely signals, momentum trend, market momentum, momentum characteristics, intermediate trends, momentum analysis
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Selection Index, Summation Index, Swing Index, Arms Index, Herrick Payoff Index, Treasury Bonds, Japanese Yen, New York, Technical Analysis Explained, New Concepts, Nikkei Stock Index, British Pound, Rate-of-Change of Volume, Welles Wilder, Technical Trading, John Wiley, Martin Pring, Pring Market Review, Low Ratio, Volume Rate-of-Change
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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Customer Reviews

10 Reviews
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Average Customer Review
3.6 out of 5 stars (10 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
26 of 26 people found the following review helpful:
5.0 out of 5 stars Excellent Momentum Indicator Book, June 7, 1998
By A Customer
This book is intended for traders who already have some understanding of technical analysis. Also, a stock charting program, such as MetaStock, is recommended. Although it is possible to manually calculate formulas or even use a spreadsheet, the sheer volume of data involved and the number of possible equational variations would severely limit a trader's ability to compete.

Pring mentions the MetaStock program several times. This book was written in 1993 when stock charting programs were limited and the fastest Windows compatible computer was a 486/66. Now that personal computer speed, capacity, software, and data gathering are no longer a hindrance, the methods described are particularly relevant. As a MetaStock v6.5 user I can tell you all of the indicators mentioned are available or can be created, with the exception of a few diffusion indicators, in MetaStock.

Pring shows you how to interpret momentum indicators and even how to adjust them in ways you previously would not have thought of. After reading this book I now have a deeper understanding of the most commonly used momentum indicators. Additionally, I can now use MetaStock in much more sophisticated ways.

Although the book has some minor errors, I recommend it to anyone who uses technical analysis software. This book is for traders who use end-of-day or real-time data and want to attain an intermediate skill level for momentum indicators.

I also recommend Pring's Technical Analysis Explained. If you are not familiar with TA begin with either this book or John Murphy's Technical Analysis of the Futures Markets. Both provide a complete overview of most types of technical analysis. Moreover, they cover chart patterns, a prerequisite for understanding Market Momentum.

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15 of 16 people found the following review helpful:
5.0 out of 5 stars Superb book on Momentum, June 12, 2001
By A Customer
This review is from: Martin Pring on Market Momentum (Hardcover)
You will find the KST formula in Chapter 7 on page 159. This is not a book on day trading. It is a book on momentum. It can be applied to all time frames like daily, weekly, and monthly. For day trading, you need to read a lot more books on day trading to prepare for that task. The KST is a superb indicator. It allows you to zero in on the maintrend. You know the addage, the trend is your frend. KST will show you if the trend is your frend before you put on your trade. Most traders who lose money trade against the main trend. With KST, you can make sure you are trading with the trend.

Mr. Pring does a superb job in a layman language as to how to interpret and use momentum. No other author does as a good job and most books will mislead you and cost you big losses as a result. Martin has it all when it comes to momentum!!

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11 of 11 people found the following review helpful:
5.0 out of 5 stars I actually need another copy I've used this so much..., May 1, 2004
By Rob Ryley "Robert" (Northeast NJ) - See all my reviews
  
Readers of reviews on financial books need to be careful. For every 100 people who speculate in the financial markets, less than 10 are successful. People often have psychological blindspots that prevent them from noticing profitable info when they see it. I'm convinced that blindspot applies not only to the market, but books about profiting in the market.

Despite my skepticism, I had decided to study technical analysis after reading Larry McMillian's advice in Options as a Strategic Investment. Pring's book on Momentum was one of my first purchases. Combined with observation of market action using my TC2000 software, I'd say it is one of my best purchases. And that was over 4 years ago.

This isn't easy reading. It requires you to--THINK! Imagine that! Those who are looking for wealth through trading and investing expect the process to be easy. When they discover it isn't, they blame authors for writing accuarte, but difficult books, rather than changing their ideas about profiting from the market.

Other books cover momentum indicators in brief detail, but
Pring devotes significant space to principles of momentum interpretation, as well as how different indicators are constructed. Of crucial importance is the pros and cons of the construction of various indicators: Momentum or Rate of Change vs RSI, MACD vs Stochastics. After reading this, you will learn which indicators complement each other, and which ones are simply different variations of the same idea.

Unfortunately, as Pring instructs, interpreting momentum indicators requires practice as well as judgement. Knowing how to interpret momentum doesn't mean you can trade eaily. There is much more to trading than understanding momentum indicators.

Read this book, THINK about the logic of the indicators, then observe the market action using what you have learned. In due time, you will use the ideas in this book to develop your own indicators, improving on the ideas in this book to suit your own style.

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Most Recent Customer Reviews

3.0 out of 5 stars Oll book but precinple apply to all time
I find these stuffes applicable to today's market too, so do not need to buy any more expensive books on momentum, this book contains them all.
Published 20 days ago by Dragon

4.0 out of 5 stars one of the best books on momentum
I would highly recommend reading this book it will help you a lot in your technical analysis career. Read more
Published 2 months ago by Mohd J. Alkhabaz

3.0 out of 5 stars Heavy Explanation of Oscillators
If you want an elpanation of how various oscillators are calculated and applied this is a good resource for active traders. Read more
Published on January 4, 2002 by Jack McGrath

1.0 out of 5 stars Momentum applied to daytrading terrible
I recently purchased this book to strengthen my momentum skills. Being somewhat new to TA, it is has came easy having a extensive computer background. Read more
Published on February 27, 2000 by Dr. M. Joyner

3.0 out of 5 stars Gives more insight into popular indicators.
Talks a great deal about the "KST System". Could not find any material showing how to calculate it. Read more
Published on October 18, 1998

5.0 out of 5 stars I have read seventeen books on TA and this one is the best!!
The book is very well written and very well organized. Very easy to understand and cover TA from A-Z. It is the ultimate book on momentum for the serious trader. Read more
Published on April 5, 1998 by Christopher Narcouzi

2.0 out of 5 stars More mathematics should be included in this book!
This books is a bit too preliminary and lacks the mathematics that I want.
Published on October 5, 1997 by tyh@arex.com

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