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Technical Analysis for the Trading Professional, Second Edition: Strategies and Techniques for Today's Turbulent Global Financial Markets 2nd Edition

3.6 out of 5 stars 80 customer reviews
ISBN-13: 978-0071759144
ISBN-10: 007175914X
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Editorial Reviews

From the Author

The Market Technicians Association has selected this book as required reading in preparation for the final examination leading to a Chartered Market Technician's (CMT) professional accreditation. This book assumes you have charting skills equal to the CMT II examination level and provides no introductory or entry level background. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

Now in its second decade, Technical Analysis for the Trading Professional is the number-one go-to guide for market technicians seeking to improve their market timing skills with the most up-to-date tools and techniques. This second edition provides an updated look at unique formulas and key indicators, while retaining all the foundational material that made the previous edition an instant classic.

Technical Analysis for the Trading Professional has been enhanced and expanded to bring you fully up to date on all the essentials, including:

  • Dominant trading cycles
  • Moving averages
  • Fibonacci projections
  • Gann Analysis
  • Relative Strength Index and stochastics
  • Dominant trend lines
  • Price projections
  • Elliott Wave Principle
  • Volatility bands
  • Composite Index
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Product Details

  • Hardcover: 464 pages
  • Publisher: McGraw-Hill Education; 2 edition (January 10, 2012)
  • Language: English
  • ISBN-10: 007175914X
  • ISBN-13: 978-0071759144
  • Product Dimensions: 6.2 x 1.5 x 9.5 inches
  • Shipping Weight: 1.5 pounds (View shipping rates and policies)
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (80 customer reviews)
  • Amazon Best Sellers Rank: #475,273 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By A Customer on August 26, 2000
Format: Hardcover Verified Purchase
This book promises to take you into the Promised Land of traderdom but leaves you in the desert. It's up to you to find the water. The author may give you some pointers as to where you might find it but you may easily die of thirst trying to get there.
At best, this an introduction to the author's trading methodology. It broadly covers her different techniques: Elliot Wave used in conjunction with oscillators, Fibonacci price projections and retracements, Gann time and price analysis, reverse engineering of indicators to project price. Sounds good doesn't it? Well don't hold your breath. The author keeps the secret of the Holy Grail to herself. If you want the answers, you will have to take her seminars or subscribe to her service.
Just to give you a sense of what I mean: One chapter is entitled "Price Projections by Reverse-Engineering Indicators". You get four pages of excruciating detail on how to export into excel, but when it comes to how she actually reverse engineers the indicator she writes, "Just know that some reverse-engineering projections require you to know the indicator formula and to have Excel generate the results, rather than just plugging in the indicator values from Trade station." How does she do it? She hired professional programmers to do it for her. Yes, that's all very well but then what do we need the book for and why are we paying her? Then there is the infamous Composite Index indicator so essential to her system. It has been repeatedly commented on in the other reviews here. She repeatedly promises to discuss the formula in various parts of the book and a whole chapter is devoted to it.
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Format: Hardcover
As a coda to the reviewer from Beverly Hills, whose points I endorse in full, I would like to highlight the sheer intellectual dishonesty of this book - even the details she reveals are fraudulent and downright silly.
If you have any doubt of this, study Chapter 4 on interpreting charts. Her solution to the problem of how to connect 9 points on a chart with 4 straight continuous trend lines draws a single line through 4 chart points. In Chapter 9, her discussion on Gann approaches to time stresses that "it is important for you to see that Gann does not create charts with excessive meaningless lines when the vibration point for a specific market is understood". She provides exactly that: a chart with excessive meaningless lines and an illegible time scale.
Once the irritation of wasting forty bucks on this dross has passed, one begins to feel sorry for an author who has to tell her readership on every other page about her magic conversion factors that she's not prepared to reveal. This secretiveness seems to be a common feature of followers of W.D. Gann, who, as Alexander Elder points out in his book, made his money not from trading his wonderful theory, but from selling his training courses at inflated prices. She evidently believes that treating her readership like idiots will bring them flocking to her website to buy her particular brand of snake oil.
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Format: Hardcover
The author has little of any practical use to offer - that is if your intent is to make money in the stock market. If studying movements of stock prices with convoluted formulas after the fact fascinates you, then this is your book. Of course one can tell what the stock price did after the fact without the benefit of complicated formulas.
I've seen some works of mental masturbation, but this one takes the grand prize. Amazing how one with a little grasp of mathematics and an enormously inflated ego can bambozzle their employer into paying them a salary. Then you can write a book and bambozzle the public into paying good money for fluff. If you do it on company time, that probably makes you an authority on technical stock analysis, by default. Now that's Chutzpah!
There are many books which explain essentially the same techniques, but without the mysticism, wordiness and deliberate obfuscation to make it seem more "technical and hard to master". Besides, concise and lucid explanations won't fill a 300 page hardcover book that commands a higher price.
The author implies that if one doesn't see the obvious value of her ideas, one is stupid and is not reading close enough. You are one of the idiots of the world who uses default values in your computer programs. Its the emperors new clothes argument: "I can see the clothes, everyone else who is smart can see the clothes, so why can't you see the clothes."
I sorry to say that the emperor is naked.
Good section on predicting stock prices using Astrology, if you are into that kind of fluff. MSFT is in Aquarius with a moon in the first phase - SELL, SELL! Well it's not quite that bad, but close.
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Format: Hardcover
A thousand extra words were used for each "concept". I was suckered into trying out her service after being deferred to her website for all the "good stuff". I paid [$$$] for a quarter for what I now see is false advertising and I honestly have never seen someone make so many bad observations and be so wrong over any 3 month time frame. I've seen amateurs make more consistent calls at yahoo.
A total shame that she holds back all the stuff that she claims works best, but clearly can't even analyze the markets in real time. A pitiful fleecing of the public with outrageous claims in the book and at her site.
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