2/23/2021 Top 7 Books to Learn Technical Analysis

TECHNICAL ANALYSIS TECHNICAL ANALYSIS BASIC EDUCATION

Top 7 Books to Learn Technical Analysis

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There is a wide range of books available for learning technical analysis, covering topics like chart
patterns, crowd psychology, and even trading system development. While many of these books
provide outdated or irrelevant information, there are several books that have become timeless
masterpieces when it comes to mastering the art of trading.

In this article, we will look at seven books on technical analysis to help traders and investors better
understand the subject and employ the strategy in their own trading.

KEY TAKEAWAYS
Many books in the technical trading space are outdated, but several do stand the test of
time.
These classics focus on the fundamentals of technical analysis and reading charts as
insight into market psychology rather than simply listing off an array of patterns.
Among the top books for learning technical analysis is Jack Schwager's "Getting Started
in Technical Analysis" and "How to Make Money in Stocks" by William O’Neil.

Getting Started in Technical Analysis by Jack Schwager

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This book is an excellent starting point for novice traders that covers every major topic in technical
analysis. In addition to covering chart patterns and technical indicators, the book takes a look at
how to choose entry and exit points, developing trading systems, and developing a plan for
successful trading. These are all key elements to becoming a successful trader and there aren't
many books that combine all of this advice into a single book.

Technical Analysis Explained by Martin Pring

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This book is considered by many to be the “Bible” of technical analysis since it contains an
exhaustive amount of information covering the core concepts. The book also covers ancillary
topics like trading psychology and market mechanics that help traders understand "the why"
rather than just "the how" of technical analysis. Despite the wide breadth of knowledge, the book
is very approachable and easy to understand for novice traders.

Technical Analysis of the Financial Markets by John Murphy

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This book is an approachable introduction to technical analysis that still provides a high level of
detail and actionable insights. As a former technical analyst for CNBC with over 40 years of
experience in the market, Mr. Murphy has become a leading voice for technical analysis and is
highly skilled at conveying complex topics in an easy to understand manner.[1] Novice traders may
want to check out this book before diving into more complex topics.

How to Make Money in Stocks by William O’Neil

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This book is considered a classic work on technical analysis and was written by the founder of
Investor’s Business Daily, one of the most popular investment publications in the world. O’Neil was
a strong advocate for technical analysis, having studied over 100 years of stock price movements
in researching the book. In the book, he presents a wide range of technical strategies and tips for
minimizing risk and finding entry and exit points.

Japanese Candlestick Charting Techniques by Steve Nison

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This book is the definitive volume on candlestick charting, which is one of the most commonly
used technical analysis tools. Prior to Nison’s work, candlestick charting was relatively unknown in
the West. He helped publicize the technique and train institutional traders and analysts at top
investment banking firms. The book offers a thorough explanation of the subject, including
explanations of virtually all candlestick patterns that are used by traders today.

Encyclopedia of Chart Patterns by Thomas Bulkowski

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This book is truly an encyclopedia that contains an exhaustive list of chart patterns a statistical
overview of how they have performed in predicting future price movements. Mr. Bulkowski is a
well-known chartist and technical analyst and his statistical analysis set the book apart from
others that simply show chart patterns and how to spot them. The updated version of the book
includes a section on event trading and patterns that occur with news releases.

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Technical Analysis Using Multiple Timeframes by Brian Shannon

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This book has a wide appeal for technical traders because it can be helpful to traders regardless of
the strategy that they use. The book highlights the value of applying technical analysis across
multiple timeframes to identify trades with the highest probability of success. It also goes well
beyond what its title implies and covers subjects including short selling, stop-loss order
placement, price target identification, and related topics.

10,000+
There have been more than 10,000 books on technical analysis released for
traders, but these seven stand out.

BOTTOM LINE

There have been many books written on technical analysis, but some of them have become
timeless classics that are invaluable to traders. Those new to technical analysis may want to
check out these books to fine-tune their strategies and maximize their odds of success.

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