The Top 5 Technical Analysis Books

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Earlier today, I posted this review of Pound Foolish, a new book that wants to warn you of the dangers of the financial industry.

It was a zzzzzzzzz, a kind of natural Nyquil that helped put me to sleep several times on various recent trips I’ve taken.

Anyway, below are 5 solid technical analysis books, as put together by a new trading challenge student J.C.

Enjoy:

Technical analysis can be a great asset for traders who get how it works and understand what it shows and means. It is incredibly different from Fundamental Analysis and can be crucial for pennystocker, particularly on breakouts. Here are five of the best books on Technical Analysis according to Investimonials.com.

In fifth place comes ‘Japanese Candlestick Charting Techniques’ by Steve Nison.
japanesecandlestick
This book is said to be pretty complex and hard to read at first, but can quickly become a trader’s best friend. It can be used for speculation with penny stocks and allow a trader to vastly improve their market analysis skills. It is strongly suggested not to simply use this book on its own. Although it is reviewed to be an incredible investment, you should always do some basic fundamental analysis with any stock…especially pennystocks.

Coming in fourth place is ‘Technical Analysis: Using Multiple Timeframes’ by Brian Shannon.
multipletimeframes
This one is a little easier to read and is far more basic. Not only does this one go through different chart setups Shannon covers short squeezes as does Tim in many of his video lessons. It also goes into the depth of the ‘Four Stages – Accumulation, Markup, Distribution and Decline. This book can also give you a great insight into the psychology of trading towards the end of the book.

Ranked third by Investimonials is ‘An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund’ by Timothy Sykes
hedge_fund_book2
This is more of a play-book with lessons learned along the way, as oppose to the previous two entries. Tim not only shows his growth and crash in personal wealth but how his personality, strategy and objectives have changed throughout his trading career. What stood out for me in particular, was how people who are students or have full time jobs can still be committed and disciplined traders, not forgetting how he explains the mental stress and heartache that trading brings. This book explains the basics of Penny Stock technical analysis without going into the extreme complexities of Japanese Candlestick Charting. This is a great read for beginner trades and one of my favourite books.

Taking second place is ‘Encyclopedia of Chart Patterns’ by Tom Bulkowski
chartpatterns
This book outlines 23 new patterns along with trading key events such as earnings, upgrades and downgrades. Many reviews compliment the accuracy of the chart patterns, and the quality of explanation regarding the statistics of each stock. It is definitely a great book and along with Tim’s book one of the cheaper options.

Finally, the top Technical Analysis book by Investimonials is ‘Market Wizards: Interviews with Top Traders’ by Jack D. Schwager.
marketwizards
This is not really that much of a Technical Analysis book, but an overview of how the worlds best and most successful traders do what they do, including a T-Bonds trader who turned $25 000 into $2 000 000 000 in a single day.

Getting technical analysis right takes time, because no matter how many patterns and strategies you study you will only be able to trust them when you see the work yourself. It is important to work hard and stay dedicated when improving your skills.

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