desertcart.com: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications: 8580001070285: John J. Murphy: Books Review: Great Trading Starter Book! - This is an absolutely fantastic book, both for new traders, new people trying to learn how to trade stocks, and even pros. It's easy to read, but it'll help if you understand or are willing to understand the financial lingo. It's as long as a college textbook, but reads very well; a high school student or graduate could read it and understand its contents. I'd suggest this to anyone trying to start out trading stocks in any manner so you have a basis for how to trade, understand trends and formations, and understand the various mechanisms within stock trading (buys, sells, closing positions, shorting, options trading, or futures, etc.). This way you have a solid foundation and have confidence in your abilities when you start trading. After reading this book, I'd suggest new traders start paper trading via a simulator so you can practice trading in preparation for the real thing and you can learn to apply what you've learned practically. I'd also suggest new traders start with this book and maybe a few others--if you're so inclined--before taking any courses on trading. You'll see a lot of the same content in these courses from this book, but again the book is a great initiator into trading. Review: An excellent reference - well worth the investment - It is entirely possible to spend more time reading trading books than doing any actual trading. This is one of the few books that will remain on my bookshelf and I highly recommend it FOR WHAT IT IS INTENDED - an excellent reference on technical analysis (TA). What I was looking for was something to provide clear, concise descriptions on various technical indicators across all types - trend analysis, price patterns, candles, oscillators, etc. And Murphy not only does this well, but his work provides enough information that I do not see the need for another book on TA on my bookshelf, even though I know that other very good books are available (e.g. Pring). But this one is enough for me. It is well organized and indexed so that I can rapidly look up something while I am setting up trades and get the basic info that I need. One surprise was how well written the book was and how much I enjoyed reading it. I expected a dry reference book but instead found an excellent and engaging read, perhaps with the exception of the chapter on point and figure which was not up to the rest of the book. (If you are completely new to TA, you might find it less entertaining, but in comparison to the dry tome that I expected when the monster-sized book arrived, Murphy is remarkable in his ability to convert most TA topics and examples into 'normal' English.) He also is not a proponent or zealot about any one indicator type, which I appreciate. He does a good job of describing each within the context of its value without trying to convert anyone to any specific indicator. As I do not believe in magic bullets in trading, I appreciate his straightforward approach. Let me also note what this book is NOT so that you do not buy it for the wrong reasons: a) As you should gather from the above, this is not a trading system. Murphy will not tell you which indicators to use most or in which combinations to produce the best results. He will provide insight into many indicators and classes of indicators but he is NOT trying to convince you to use any specific indicator in any specific way. So he doesn't try to convince you of WHAT to use, just helps you understand WHEN, WHY and HOW each indicator type is used by various traders. b) Also, this is NOT intended to be the complete, in depth statement on any of the topics covered. For example, his section on Candlestick formations is simple, clear and includes many examples, but it is undoubtedly not the same as picking up Nison's works on Candlesticks. Similarly, you can find many books dedicated to Elliot Waves, Fibonaccis and other topics. Murphy provides the basics, but do not expect as thorough an explanation or justification as a dedicated book would provide. Then again, expect a dedicated book to try and convince you why its particular system or method is so much better than any other, something that Murphey will not try to do to you! c) Finally, this book is NOT intended to convert people who do not accept TA into believers. Frankly, it is much easier to get most people to accept that `fundamental analysis' affects a stock's value and price, but it is harder for most to understand and accept that simply analyzing the stock's price and related indicators can predict future moves. Murphy's opening chapters include some simple basic background on TA, but verbal explanations have limited value in convincing a pure `fundamentalist' that properly used technical analysis works. The only way to break down this barrier, IMO, is simply to learn and use various indicators for a while to begin seeing how predictive they can be. Murphy does not try to convert - he simply provides a learning reference. From there, anyone using TA needs to practice to become proficient. So, in summary, I highly recommend buying this book for what it is intended to be - a reference book on technical analysis. It does this job excellently.
| Best Sellers Rank | #6,679 in Books ( See Top 100 in Books ) #3 in Commodities Trading (Books) #7 in Investment Analysis & Strategy #10 in Wealth Management (Books) |
| Customer Reviews | 4.7 4.7 out of 5 stars (2,549) |
| Dimensions | 7.2 x 1.6 x 9.5 inches |
| Edition | SUB UPD EX |
| ISBN-10 | 0735200661 |
| ISBN-13 | 978-0735200661 |
| Item Weight | 2.85 pounds |
| Language | English |
| Print length | 576 pages |
| Publication date | January 4, 1999 |
| Publisher | New York Institute of Finance |
A**Z
Great Trading Starter Book!
This is an absolutely fantastic book, both for new traders, new people trying to learn how to trade stocks, and even pros. It's easy to read, but it'll help if you understand or are willing to understand the financial lingo. It's as long as a college textbook, but reads very well; a high school student or graduate could read it and understand its contents. I'd suggest this to anyone trying to start out trading stocks in any manner so you have a basis for how to trade, understand trends and formations, and understand the various mechanisms within stock trading (buys, sells, closing positions, shorting, options trading, or futures, etc.). This way you have a solid foundation and have confidence in your abilities when you start trading. After reading this book, I'd suggest new traders start paper trading via a simulator so you can practice trading in preparation for the real thing and you can learn to apply what you've learned practically. I'd also suggest new traders start with this book and maybe a few others--if you're so inclined--before taking any courses on trading. You'll see a lot of the same content in these courses from this book, but again the book is a great initiator into trading.
M**S
An excellent reference - well worth the investment
It is entirely possible to spend more time reading trading books than doing any actual trading. This is one of the few books that will remain on my bookshelf and I highly recommend it FOR WHAT IT IS INTENDED - an excellent reference on technical analysis (TA). What I was looking for was something to provide clear, concise descriptions on various technical indicators across all types - trend analysis, price patterns, candles, oscillators, etc. And Murphy not only does this well, but his work provides enough information that I do not see the need for another book on TA on my bookshelf, even though I know that other very good books are available (e.g. Pring). But this one is enough for me. It is well organized and indexed so that I can rapidly look up something while I am setting up trades and get the basic info that I need. One surprise was how well written the book was and how much I enjoyed reading it. I expected a dry reference book but instead found an excellent and engaging read, perhaps with the exception of the chapter on point and figure which was not up to the rest of the book. (If you are completely new to TA, you might find it less entertaining, but in comparison to the dry tome that I expected when the monster-sized book arrived, Murphy is remarkable in his ability to convert most TA topics and examples into 'normal' English.) He also is not a proponent or zealot about any one indicator type, which I appreciate. He does a good job of describing each within the context of its value without trying to convert anyone to any specific indicator. As I do not believe in magic bullets in trading, I appreciate his straightforward approach. Let me also note what this book is NOT so that you do not buy it for the wrong reasons: a) As you should gather from the above, this is not a trading system. Murphy will not tell you which indicators to use most or in which combinations to produce the best results. He will provide insight into many indicators and classes of indicators but he is NOT trying to convince you to use any specific indicator in any specific way. So he doesn't try to convince you of WHAT to use, just helps you understand WHEN, WHY and HOW each indicator type is used by various traders. b) Also, this is NOT intended to be the complete, in depth statement on any of the topics covered. For example, his section on Candlestick formations is simple, clear and includes many examples, but it is undoubtedly not the same as picking up Nison's works on Candlesticks. Similarly, you can find many books dedicated to Elliot Waves, Fibonaccis and other topics. Murphy provides the basics, but do not expect as thorough an explanation or justification as a dedicated book would provide. Then again, expect a dedicated book to try and convince you why its particular system or method is so much better than any other, something that Murphey will not try to do to you! c) Finally, this book is NOT intended to convert people who do not accept TA into believers. Frankly, it is much easier to get most people to accept that `fundamental analysis' affects a stock's value and price, but it is harder for most to understand and accept that simply analyzing the stock's price and related indicators can predict future moves. Murphy's opening chapters include some simple basic background on TA, but verbal explanations have limited value in convincing a pure `fundamentalist' that properly used technical analysis works. The only way to break down this barrier, IMO, is simply to learn and use various indicators for a while to begin seeing how predictive they can be. Murphy does not try to convert - he simply provides a learning reference. From there, anyone using TA needs to practice to become proficient. So, in summary, I highly recommend buying this book for what it is intended to be - a reference book on technical analysis. It does this job excellently.
T**A
LOVE the book and a side note about why AMAZON is AMAZING!
First of all, this book is GREAT for the novice investor, and broker who is new to the investment industry such as myself. Due to the downsizing of my previous career, I made a career change to the stock market. Crazy I know, but I love it. Technical Analysis is not hard but can be confusing if you are not sure what all of the "pretty" lines represent. This book breaks it down for someone like me to where I can TRULY understand what a chart is telling me. True, charts CAN be subjective, but the numbers don't lie. Charts combined with some fundamentals can make you a powerful investor if you know what you are doing. The book is not so basic that it would bore a knowledgeable investor; even those who have been trading forever can learn something from this book. Murphy makes to where Technical Analysis makes sense! Now...Why do I think the world of Amazon? I've been watching the price of this book for about a year. I ordered this book due to a manager's recommendations (who allowed me to hold on to her book for a couple of months) and my company trainer's STRONG recommendations just recently. (No they do not work for this company and they are NOT receiving any proceeds for the recommendations.) I received the book and from the outside, the book appeared to be perfect. While flipping through the pages, I saw that pages were damaged in one section. I have been ordering from Amazon for years and not once have I ever had to return an item. This was the first one. I received my package on Tuesday, opened it on Wednesday, contacted Amazon via the web instructions, and dropped the book off at the local UPS location on Thursday. Also per Amazon's instructions, they wanted additional feedback on why I was returning the item. After leaving the feedback, I anticipated that I wouldn't receive the book for another week or so. The return instructions were SO easy it made my head spin. That's not even the best part. I was shocked when I saw I received an email that my replacement book was on its way on Thursday. Get this (here's the BEST part)...I received a PERFECTLY new replacement today, Friday. I am thoroughly impressed. My main purpose for ordering the book when I did was to have it in time for me to utilize when I return to my team on Monday. Due to the advanced training we've received at work, this book is something that will be useful for years to come.
G**E
Un must per chi è interessato alla analisi tecnica
J**F
Having read several books on the topic TAFM is the best choice so far. Murphy starts with the very basics (you may skip) and works his way up to strategies and ideas of trading. There are parts the reader will have to read them twice or more in order to grasp the concepts but that has nothing to do with the language but more with the concept of an instrument for example. The English is comparable with college-text boosk thus reads smooth and straight to the point. One dislike There are no in-between tasks/assignments/quizzes to deepen the knowledge.
F**O
Se eu disser que não creio em nada que AT diz você deve chegar a uma dessas conclusões :porque levar a sério a crítica de um livro justamente se ela partiu de uma pessoa que não crê no assunto?Se ele não acredita em AT porque comprou este livro. Respondo , apesar de militar no mercado por mais de 30 anos , em várias instituições e em diversos mercados , continuo aprendendo.Não deixo que nenhum livro me escape , principalmente sobre psicologia do trader , visto que desde o ano passado tenho vivido ( ao menos tentado) só de day trade com minha própria conta.Li muito sobre Análise Técnica , lia os boletins que Didi Aguiar e Márcio Noronha mandavam pras mesas de bancos e corretoras , livros em português ,três sobre candlesticks , " Japanese" , "Chart Patterns" , Explained" do Pring ( depois descobri que tem em português no site do Márcio Noronha) e jamais consegui entender como alguém enxerga padrão no gráfico , mas sei que pouquíssimas pessoas conseguem , admiro , mas ainda não consegui. Devido ao que está escrito acima é que considero o livro do Murphy o melhor deles , o autor foi o primeiro a admitir a dificuldade e a limitação da AT para os mercados futuros.Uma vez que os Futuros convergem com o ativo objeto ao passar do tempo não cabe admitir que 98200 pontos do índice Futuro Abril tenha o mesmo valor após um dia , após uma semana então... Murphy também me pareceu ( falo como pequeno conhecedor) o mais didático dos autores que li , ainda percebi que a escrita leve e , sobretudo , despretensiosa me deixou mais confortável do que autores que falam sobre " probabilidades com " certeza".O livro ainda conta com uma parte sobre manejo de risco bem interessante e a respeito dos diversos indicadores , Murphy , ao meu ver , foi bem mais didático que seus " concorrentes" , e isso me permitiu ver a que devo dar mais a tenção . Ótimo livro mesmo pra quem levanta dúvidas sobre a eficiência da AT. Recomendo mesmo sendo partidário da Tendência , minha técnica consiste em seguir quem "manda" e não discutir.
B**.
This book has a lot of knowledge packed into it, and its easy to flip through to find different strategies. This serves as a very nice quick reference to make sure I haven't missed anything. The book is also good for beginners who are new to trading, the first few chapters are really good for introducing people to the concepts around how the markets work, and the whole book is written in an easy to read manner.
F**Z
I know what you're thinking. Is it worth it? Can I do it? Should I buy it? My opinion: Yes. Not FA, DYOR lol (PS don't blame me if you buy now and later the price of the book dipped.)
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