Book Description
Unlock the secrets of an ancient charting tool
The most ancient form of charting, the Japanese candlestick method has become an extremely popular analytical tool among the new generation of traders. However, because of the aura of mysticism surrounding candlesticks and the arcane terminology typically used to describe them, many traders in the West never really learn how to use them properly and exploit their full potential. Profitable Candlestick Trading demystifies candlesticks for today's traders. With the help of numerous real-world examples, Bigalow clearly explains how candlesticks work, how to read them, and how to maximize profits with them. Bigalow shares some of his original candlestick-based trading programs, the same programs which have yielded impressive results for his clients at leading financial firms in the United States and abroad.
Customer Reviews:
Great Information But..............2007-08-17
I'm very pleased with the information contained in the book. However, most of the information contained in the book can be found on the authors website for free. Just google Stephen Bigalow and check it out for yourself, lots of info in the forum at that site as well. I read some other reviews (at another site) that recommended his second book over this one as the basics can be found at his website (and several others) and you can get more into the theory in the other book. With that said I still recommend it and would say its a 5 star rating based on the information. I use it every night while doing my research for the next trading day. Anyway, just something to know. Seems most days you can find just about anything on the net if you look hard enough. May all your days be bullish kickers!
Excellent CandleStick Trading Book.......2007-05-05
I am a beginner Commodities/Futures Trader, and am in the process of learning everything I can about all the various trading tools and charting methods. My expectations after having read a lot of books now, is that the book should contain a focused look at the 'topic' followed by primary, secondary and tertiary examples of how the methodology of the subject can work effectively AND when it doesnt work well. Stephen Bigalow did an excellent job. The only weakness? The vast amount of analysis provided was for Stock Traders, even though the CandleStick methodology was invented for commodities/futures trading. There is a 3 page section that covered how effective the Candlestick charting method is for commodities trading, but in those 3 pages, he basically says that Candlesticks were invented for Commodities Trading and all the examples that are in the book apply BETTER for commodites as the underlying factors of price in Commodities are not as variant as they are with stocks. Bingo. So why all the analysis based on Stock Trading? I guess he had to play to the larger market of buyers. Anyway, he covers every kind of pattern, and his explanations are clear, succinct, and understandable. I highly recommend this book if you want to understand CandleStick's.
Good fundamentals.......2007-01-12
This book is an excellent introduction into Candlestick Trading. The author shows how to gauge market sentiment in an unusual way. Highly recommended!
Candlestick patterns work -- regardless of whether the market rises or falls !!.......2006-09-09
I attended Steve's seminar 2 years ago, and have been using candlestick patterns ever since. This is an excellent book which provides an easy-to-read introduction to candlestick charts. Steve's approach is a major element of my trading plan.
Great Reading.......2006-05-29
This is an excellant written book,simple step by step explanation of the candlestick methodology. I was impressed with the ease in which I learned the 12 Major candlestick patterns.This book has taken the mistry out of candlestick reading,
and it will place a wealth of knowledge in the hands of newbee traders like myself.Excellent book.
Book Description
Chart Your Way to Profits shows you how to harness the technology available on www.prophet.com to analyze markets and make informed trading decisions. It discusses the fundamentals of technical analysis and shows you how to design your own charts and indicators in a way that enables you to easily monitor the markets and make solid trading decisions.
Customer Reviews:
Technical Analysis 101.......2007-09-01
In "Chart Your Way To Profits", Tim Knight takes the intricacies of Edwards & Magee technical analysis, and updates it in a conversational, user-freindly format. Hundreds of real-life chart examples are utilized, as are trading tips from a veteran individual trader. This is a book where new insights can be gleaned with multiple readings, and one you will want to keep by your computer for constant reference while analyzing stock charts, and during trading hours.
You don't have to use Prophet Charts to get great value from this book, but if you do, the book doubles as the best 400+ page user's manual you could ever ask for. And for those who don't know, the Prophet charting platform is available with certain online brokers without having to pay for it.
Definitely five stars, and highly recommended for any level trader.
Good book but too much "How to use Prophet Software"........2007-08-29
I agree, with last reviewer how to use the Prophet Software within the pages of the book. The author should have placed all the Prophet advertising, subscriber to the author's charting website,how to use the software toward the back section of the book. I never use Prophet software since there are many other professional charting software out there that does even a better job than just using website charts.
This book has some good easy to follow information on charting that can be useful and is quite simple to understand.
A better book to purchase is "Technical Analysis of Stock Trends" by Robert D. Edwards and John Magee ,since this is the best book on charting and charting patterns which was originally published back in 1948. This is like the bible of Technical Analysis. I prefer the 5th Edition and you may be able to get it used on amazon.
Dedicated too much to Prophet, but a good value, nonetheless.......2007-08-27
This book is written primarily for use with the author's charting software (Prophet) and spends quite a bit of time highlighting it's features. When he starts to explain the chart patterns and the reasons the market created that pattern, you could be using any software. This is where the book shines.
Roughly 1/3 of the book explains Prophet Charts. Basically a manual. That part should be available online to users of the software.
Once you get past the manual, and the chart analysis begins, there is a lot of value. Tim explains chart patterns in a simple, (relatively) jargon free manner. Every topic has several examples to make it very clear. He also explains the reason the pattern came into existence in the first place, adding even more clarity to the topic. I found this part to be very useful.
I feel this book is suited to anyone who uses Prophet Charts, but that info should have been included with the software. Paying for the manual irked me a bit. I did find value in the charts, and assuaged my irritation with my increased knowledge and comfort with technical analysis. Definitely worth it, just be aware.
Chart Your Way to Profits.......2007-08-26
I bought this book in order to learn how to use the Prophet Charting Tools. The book provided an excellent and clear summary for this purpose.
Aside from this application, Knight's explanations provide very useful background for understanding how to exploit the bear side of the market, which tends to be favored by Knight. If you are uncomfortable in investing on the short side but want to learn more, this is a good place to begin.
When's the Next Book.......2007-08-26
Great and easy reading. This ones a keeper and a reread for my library
Book Description
Expert instruction on the practical applications of candlestick charting
Candlestick charting is more popular than ever before, with a legion of new traders and investors being introduced to the concept by some of today’s hottest investment gurus. Having introduced the candlestick technique to the West through two of his bestselling books, Steve Nison is regarded as a luminary in the field of candlestick charting. In his new venture, The Candlestick Course, Nison explains patterns of varying complexity and tests the reader’s knowledge with quizzes, Q&As, and intensive examples. In accessible and easy-to-understand language, this book offers expert instruction on the practical applications of candlestick charting to give every level of investor a complete understanding of this proven, profitable, and time-tested investing technique. Straightforward answers quickly clarify this easy-to-use charting method. This guide will allow readers to recognize and implement various candlestick patterns and lines in today’s real-world trading environment–giving them a noticeable edge in their trading activities
Download Description
Expert instruction on the practical applications of candlestick charting
Candlestick charting is more popular than ever before, with a legion of new traders and investors being introduced to the concept by some of today’s hottest investment gurus. Having introduced the candlestick technique to the West through two of his bestselling books, Steve Nison is regarded as a luminary in the field of candlestick charting. In his new venture, The Candlestick Course, Nison explains patterns of varying complexity and tests the reader’s knowledge with quizzes, Q&As, and intensive examples. In accessible and easy-to-understand language, this book offers expert instruction on the practical applications of candlestick charting to give every level of investor a complete understanding of this proven, profitable, and time-tested investing technique. Straightforward answers quickly clarify this easy-to-use charting method. This guide will allow readers to recognize and implement various candlestick patterns and lines in today’s real-world trading environment–giving them a noticeable edge in their trading activities
Customer Reviews:
Candlestick course.......2007-09-21
This book will improve your candlestick skills and help improve your trading success if combined with other indicators. The book is really like a textbook with questions and tests after each chapter so if you are expecting a spoonfeeding course then you might be disappointed because you have to do some homework and really practice with this book.
Candlestick Theory.......2007-09-11
Nison provides an indepth understanding of the Japanese Candlestick Theory that is easy to understand and presented in a way that you are sure to comprehend.
great start for newbies.......2007-06-27
Since I becmae interested in trading stocks in October of 2006 this was the first book that I purchased dealing with technical analysis and charts. I could not be more happy with my choice. The quizes at the end of each chapter help to cement the new information into your memory. Even though my strategies have "evolved" beyond looking through charts solely for candlestick patterns, they are still an invaluable tool and can provide great insight. I highly recommend this book.
Very Comprehensive in a Text Format.......2007-02-13
I really liked the fact that this was in a text format with questions as well as answers provided. The title says "Course" and I believe that is exactly what it is. It provides a lot of detail in such a short span of just over 200 pages. The question and answer format really helps to cement the content. As other reviewers have indicated, there was a lot of page turning back and forth to find the right chart to go with the right question but there are plenty of charts to support the material provided. I found it was just what I was looking for as a formal introduction to candlesticks from someone definitely in the know.
Happy trading!
This is a great book.......2006-10-01
This is a great book for one person - Steve Nison. :)
Book Description
In this revised and expanded second edition of the bestselling
Encyclopedia of Chart Patterns, Thomas Bulkowski updates the classic with new performance statistics for both bull and bear markets and 23 new patterns, including a second section devoted to ten event patterns. Bulkowski tells you how to trade the significant events -- such as quarterly earnings announcements, retail sales, stock upgrades and downgrades -- that shape todays trading and uses statistics to back up his approach. This comprehensive new edition is a must-have reference if you're a technical investor or trader. Place your order today.
"The most complete reference to chart patterns available. It goes where no one has gone before. Bulkowski gives hard data on how good and bad the patterns are. A must-read for anyone that's ever looked at a chart and wondered what was happening."
-- Larry Williams, trader and author of Long-Term Secrets to Short-Term Trading
Download Description
"In this revised and expanded second edition of the bestselling
Encyclopedia of Chart Patterns, Thomas Bulkowski updates the classic with new performance statistics for both bull and bear markets and 23 new patterns, including a second section devoted to ten event patterns. Bulkowski tells you how to trade the significant events -- such as quarterly earnings announcements, retail sales, stock upgrades and downgrades -- that shape today¿s trading and uses statistics to back up his approach. This comprehensive new edition is a must-have reference if you're a technical investor or trader. Place your order today.
""The most complete reference to chart patterns available. It goes where no one has gone before. Bulkowski gives hard data on how good and bad the patterns are. A must-read for anyone that's ever looked at a chart and wondered what was happening.""
-- Larry Williams, trader and author of Long-Term Secrets to Short-Term Trading"
Customer Reviews:
Chart Patterns.......2007-08-02
This book is fine, it was just a bit too technical for me, but it is not the fault of the book but my interest in the subject matter. I found it for myself to be too difficult to digest. Again, it has nothing to do with the message, it was not what I needed and I don't think I will use it a lot. I believe you need to know a lot more about the technical analysis than I do, although I hve a finance background.
pattens.......2007-07-14
very well researcher and very useful book for any body who want to punt on the market.
encyclepedia of chart patterns.......2007-01-11
Its just what its supposed to be a reference book . When it comes to trading its not that big a help. I am
learning that to make money its money managment and stop loss that makes the difference.
Encyclopedia of Chart Patterns.......2007-01-11
The book is very good, perhaps so extensive, but it approach in detail all the formations some one can found in trading
In Depth Analysis of statistical patterns........2007-01-03
A Great piece of work! You won't find statements like "usually this is bullish", instead, you will see something like "This works 26% of the time and the prices rises an average of 18%. This book is written like an engineer thinks. Facts, Facts and Facts. Nice to see in a field (stocks) that has much more conjecture than stocks. I'm buying his other books! Thanks.
Book Description
Praise for FOREX CONQUERED
"In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before."
—Rob Booker, independent currency trader
"John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading. With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much-needed tools of forex trading. This clear and well-organized publication is a major step forward in helping traders gain an edge. I would highly recommend Forex Conquered as a valuable handbook for both aspiring and experienced traders alike."
—Sandy Jadeja, Chief Market Analyst and EditorLondon Stock Exchange, London, England
"Forex Conquered is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected-and followed."
—Michael Kahn, Editor, Quick Takes Pro market letter and Columnist, Barron's Online
"This is a wonderful, in-depth view into the explanation of technical analysis and prudent money management guidelines in the forex market."
—Blake Morrow, President, 4XMadeEasy
"Forex Conquered is a meaningful contribution to the growing number of books on forex trading. John Person provides a professional view of forex trading that readers will be able to use as a guide for strategies and tactics that work. The scope of the book covers more than forex and includes salient aspects of futures and option trading. It should be read and then re-read!"
—Abe Cofnas, President, Learn4x.com
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
Over priced book.......2007-09-18
The author only back tested one idea with two variations, and for this reason it deserves two stars. In the book, Pivot Point Analysis, Fibonacci methods and Elliott Wave Theory are all nonsense and that is why I believe the author did not back test the aforementioned. I believe there is more reliable methods for trading such as: pattern recognition; intermarket analysis; and to a certain extent few indicators for timing only.
Armed and Ready to Conquer!.......2007-09-15
Bought it...read it...enjoyed it. I have read numerous books in the last 3 years on topics such as stocks, options, trading systems and most recently currency trading, which is my prime area of interest. Many were written by authors who talk the talk. John Person talks the talk AND walks the walk. Translated: he writes about systems, triggers, indicators and trading philosophies that HAVE BEEN SUCCESSFUL for him, and he has the experience to back it up. Will they be successful for the reader? That depends on many variables, not the least of which is how well one learns and implements the material. You know what they say, you can lead a horse to water but you can't make him drink. While the author could have used a good proof reader and larger more visible charts, the material is relevant, insightful and interesting. And heck, you even get a CD with a few lessons on it to make things a little clearer. There are many ways to trade the markets. This book provides insight as to how one SUCCESSFUL trader has done it. You can criticize many things in life but one thing has always been true: you can't knock success. Thanks John, for sharing with us the weapons you carry into battle with the forex market. I, for one, am better armed because of it.
Be aware.......2007-09-10
in this book you have lots of fillings. like that : because any idea will work great if you have a trending market. so I do not like the charts that shows a good looking results while it does not work in the real live trading. it has three poor systems with no commision or slippage (the profit target for the winners is 40 pips while the neglegted commision is 30), sure it will look good on the backtested results but unfortunatly it is not realistic, it is deciving."traditional chart Patterns" is usless pages and candlestick patterns, pivot point calculation are free on the internet, introduction to the Curruncy market......I could not find one single thing or idea to say somthing positive about this book So
Be aware of any guy with ear to ear smile on his book cover. and do not beleive the five stars unless the reason is clear. review it first then make up your mind
Good Work!.......2007-07-13
Excellent book. Reveals 3 BACKTESTED profitable forex trading systems, one of them averages 130 pips a month. Take note all the forex authors out there, show us the backtest results of your forex system or shut the hell up!!!
Written By A Real Trader.......2007-06-07
I've known John Person for several years now and I can tell you that he is a true trader who makes his living in the markets. There are two types of authors who write trading books - those that write about trading but don't actually trade everyday and those who trade every day and know what they are talking about and write books simply because they love talking about trading and enjoy helping other traders find success. John is definitely a true trader first - something you can tell immediately in the first few pages.
Forex Conquered offers specific trading strategies that you can use immediately which is what sets this book apart from all the others. If you've been disappointed by other books that talk in generalities, buy this one. John gives step-by-step instructions so that you can learn how to trade yourself instead of relying on others for "tips" or strategies you don't understand. I highly recommend it.
Book Description
Learn the art and science of trading systems from professional speculators. The authors share powerful long and short trading strategies in TradeStation that span all time frames, including over one hundred annotated charts with commentary and rationale. The book contains a complete implementation of a professional trading platform, including dozens of TradeStation strategies, indicators, and functions -- with 64 pages of EasyLanguage code. Further, advanced trading techniques such as pair trading and float trading are explained. These systems are integrated into a fully automated framework for position sizing and trade management. Finally, follow the authors as they track their stock selections throughout the week in real time.
Professional Stock Trading is a practical blueprint for the entrepreneur who has the desire, ambition, and intensity to enter the trading business. In a scientific manner, a trader learns how to master the technical elements of the business and integrate them into a disciplined approach. The book ends with a full-scale implementation of a professional trading platform. Swing traders, day traders, and investors who aspire to a greater understanding of the stock market will welcome this book.
Customer Reviews:
Decent book on trading systems, however..........2007-09-30
This is not a bad book on trading systems, however, take it with a grain of salt considering the outcome of the authors' trading company - search the SEC website for the last names of the authors, or Google the names with "SEC" included in the search...
I have real reservations & concerns about this one..........2007-06-28
Despite the apparent sophistication of the many diverse trading strategies and systems introducted in this book, none of them seem to back-test well on historical data in TradeStation. By well; I mean any better than most simple moving average cross-over systems! So why bother paying $100 for the book and another $200 for the software CDROM?
I also emailed the author for help getting these sytems to work at all on FOREX. Theoretically, this should be doable by changing profit target and other stop variables. He returned my emails twice promising support but then I never heard from him again.
I'm left with the impression that these systems just don't work on either stocks or FOREX. Buyer beware.
Shop around.......2007-05-08
I have not yet read the book but quickly discovered a couple of things of which you might want to be aware. The software is "included" in that the last 60 or 70 pages (sorry...I have already packaged it for return) are source code. The software is not provided in an electronic format. You are referred to the author's website to purchase the software "pretyped". Figuring it would be worth it to avoid the typing and typos, I went to the website to discover that the software is $199 and the book is $99. Since Amazon listed the book new for $199 and used for around $180, I was slightly annoyed and will be attempting to return the book.
Bottom Line - price shop this!
Alright.......2007-03-28
Lets not get too excited. Not sure how much reading and technical analysis other readers have done, while I think some of the book is useful other parts of it seem to be a waste and pretty basic. It wasnt what I was looking for and the price seems way too high. Seems for whatever reason its out of print in the stores so the author and his company are selling it for a huge mark up. Didnt get the software and the code doesnt work the way it is written in the book, either out of date or needs to be updated TS code.
Unless you really want it, I would pass on this one at the price offered.
Software in book runs perfectly but has not been helpful to me........2007-01-27
I purchased the book in an attempt to jump start developing an automated rule based trading system. The software runs perfectly without problems. Unfortunately I have not found the strategies or indicators to be helpful after testing them on limited historical data. I have found the book (and software on a CD that comes with the book) "New Trading Systems and Methods" by Perry J. Kaufman to be extremely helpful in developing a rule based automated trading system.
Book Description
In his first book, A Complete Guide to Technical Trading Tactics, John Person introduced traders to the concept of integrating candlestick charting with pivot point analysis. Now, in Candlestick and Pivot Point Trading Triggers, he goes a step further and shows you how to devise your own setups and triggers—in the stock, forex, and futures markets—based on a moving average approach.
Customer Reviews:
Just another usesless book by Wiley Trading.......2007-06-24
Concepts presented in this book can be sumerized into just 2 pages without any simplification. So basicly, everything except 2 pages in this book is af filler. What is more, these concepts are available on any trading forum for free. If you buy this book, 3 thing will happen: 1) You will have $50 less, 2) You wont learn anything new, 3) You will get mad on yourselves for buying JUST ANOTHER USELESS BOOK BY WILEY TRADING.
Suspicious Reviews?.......2007-02-17
I wonder why all the previous stellar reviews (6 so far) are written by folks who only reviewed the author's books, within a couple of months? I also wonder why the author chose not to enable looking inside his book? This is rarely a good sign.
Fabulous Book.......2007-01-26
I've read numerous trading books and this is ONE OF THE VERY BEST. John provides a very detailed description of a very viable trading system that is easy to understand and minimizes one having to interpret how to apply the system.
HIGHLY RECOMMNDED*****
Outstanding and Concise Approach to Trading.......2007-01-25
Having purchased and read the majority of books associated with trading techniques, I am thrilled with Mr. Person's concise explanations and common sense approach to trading. Using the techniques Mr. Person describes in his book, I've been able to dramatically improve on my gains in the market. Finally, I've found a book that describes in plain English what I should really be looking at and analyzing. Thank you Mr. Person!
Revolutionized my tactics.......2007-01-19
For a lot of years I've been more of an "investor" than a trader. But this book has made me a believer! The clear, easy-to-follow examples, explanations and charts have taken the mystery out of technical trading and opened the door to a much faster way to grow my nest egg which, now that I understand it, does a far better job of controlling risk than my old buy-and-hold tactics. For me this book is a breakthrough! I highly recommend it!
Book Description
"Everyone who's involved in financial markets must understand Point and Figure charting in order to get the full picture, whatever your view of technical analysis". - Jim Rogers, author of Hot Commodities and Investment Biker
"An invaluable road map for managing risk in the markets. Tom's methodology has given us the discipline and confidence to look around corners for our clients for almost twenty years." - James A. Parish, President and COO, Morgan Keegan & Co., Private Client Group
"Tom Dorsey continues to be one of the foremost authorities on Point and Figure charting. His relative strength analyses are essential for investors and traders alike. Furthermore, I always want to know what his NYSE Bullish Percent Indicators is "saying." - Lawrence G. McMillan, President, McMillan Analysis Corp., www.optionstrategist.com
"Tom Dorsey has done it again... he has taken his 30-plus years of unending devotion, talents, and insights in technical analysis and applied them to Exchange Traded Funds. He begins with the history of ETFs, explains how different they are from mutual funds, and then applies his expertise in Point and Figure charting to help traders and investors time their purchases and sales." - Ralph J. Acampora, CMT, Director of Technical research, Knight Capital
"Reading Tom Dorsey's Point & Figure Charting is the like procuring a road map before you begin a journey. It's a comprehensive look at how to succeed in the markets. This book is not only essential but easy to follow for everyone." - Paulo Pinto, CEO, Dif Broker
"Point and Figure Charting has become a valuable part of my daily trading routine. As an investment professional, it makes perfect sense to use Tom's methods in conjunction with fundamental analysis." - Damion Carufe, Investment Professional
Customer Reviews:
Profitable $$$.......2007-08-10
Dorsey,DeRosier & the rest of the Dorsey Wright Crew continue to amaze and improve with each edition. The bottom line is an outstanding system which takes the emotion out of investing and if followed makes money. Its an easy read and system to apply whether you're a novice or experienced investing professional. A must read and better yet a must system if you're serious about making money. Joe D., Everett, Wa.
Great resource for anyone sick of pie chart investing..........2007-05-25
I have been studied Tom's material on the Dorsey Wright website for several years now. And this book is a cumulation of many of the great ideas he talks about in his podcasts and daily notes section. As much as some people like to think technical analysis is the holy grail to riches, it is not. The main goal is risk management and not to hold on to the big losers in your portfolio that will destroy your investment return. How many investors have suffered since 2000 by having a majority of their portfolio in Large Cap Growth, and are now just getting back to even? Point and Figure doesn't call the top or the bottom, but it will alert you to when the trend changes. Tom's book goes over many of these techniques. Well done.
Warren Buffett would disagree.......2007-05-07
Warren Buffett would surely disagree with the basic premise of this book: That technical charting analysis can ensure a successful stock investment.
You really do have to already believe that charting has an underlying validity, before venturing to this book. I found it difficult to distinguish this from any other technical investing text. Invariably, there are the cute slogans. Double Top. Triple Top. Diagonal Triple Top. Triple Bottom. High Pole. Low Pole. Broadening Top. Bearish Signal Reversed.
With all this jargon, there is little proferred objective evidence of efficacy. Yes, certain patterns might in some examples give rise to a prediction about future price performance that turned out correct. But what about other cases, where the predictions failed? Dorsey addresses this by saying that the most important thing is your judgment, about when to apply his methods. What objective measures are there, about developing and applying this judgment? The text is so vague on this, that every case where someone who tries out the book's methods and gets poor results, can simply be said to have been using poor judgment. Notice that this lets the methods off the book.
A cynical view is that all this charting is akin to seeing patterns in clouds or stars. The best investment advice vis a vis this book is to spend your money on something else.
Customer Reviews:
Great Introduction: Practical Common Sense, Little Vodoo, No Magic.......2006-12-07
Kamich's book is not for the expert technical analyst or a professional day trader. It is appropriately respectful of quantitative and fundemental analysis, limits its discussion to the most proven and reliable indicators, and offers some clever speculation about the underlying dynamics of market structure and market participants that explains why technical analysis may be useful. It also provides a little history of technical analysis back to Dow.
The most provocative parts for me were the sections on gap analysis, volume confirmation, and his excellent chapter on reversals.
For someone who either does not know anything about technical analysis or else thinks of it as the astrology of modern finance (or the Rorschach Ink Blots), Kamich's book is a solid and sensible introduction that is as convincing as it is useful.
Note that this is not a catelog of all the major technical indicators or trends in technical analysis. For that book, buy "Murphy's Technical Analysis of the Financial Markets" also from the NY Institute of Finance.
Whether you believe in technical analysis or not, know that the people you are trading against do use these techniques and either way you should know what other participants are seeing in terms of signals and opportunities. This book is an exceptional start.
Not bad, but not great.......2006-07-04
Definately provides a good review of many TA approaches and I really like how Kamich inputs his personal commentary on the market psychology represented by the charts. The big weakness of this book is the lame charts. Considering this is a TA book, which is all about charts, one would think there would be good examples... There are not! I found myself drawing many of the charts he described. In my oppinion, he should have provided them.
A very good balance.......2005-12-22
Kamich provides a very nicely balanced approach, providing a thorough presentation without becoming an encyclopedia of every obscure technical tool available. The book was written long enough after the 2000 peak that the charts provide both bull and bear examples.
Excellent book, but not perfect.......2003-09-30
This is an excellent book for beginners and intermediate traders. It explains TA in a deep but simple way. The real value of this book (for me) is that it explains what is happening, who is buying and who is selling during chart patterns. It also explains how to trade each pattern.
After reading this book i feel much more calm and confident about what is actually happening on the markets. I can now have my own ideas of market movements, despite news, newsletters and other bloated sources of information. This book will serve as a reference for years to come.
The section on chart patterns is deep and complete. It contains all needed informations, but keeping a focus on price action.
The section on indicators covers (well) the most common ones. I would have liked more indicators.
A TA good book but not amazing.......2003-07-02
This is a solid book but it is not a 5 star book. Probably closer to 3 1/2 to 4 stars. Lots of stuff about pennants, flags, support lines, etc. The author does walk you through using the indicators which is very helpful. A lot of TA books describe and indicators and fail to tell you what to do with it. The sections on RSI and stochastics are also good.
I have been using some of the ideas with powerinvestor.com's software and been very pleased. Their web site uses simple to use sector models that have returned 30% a year since 1996.
...
Book Description
The classic source for the technical analysis discipline now brings readers up to date in techniques and technology
Now, in this second edition of the classic text, expert Thomas Dorsey shows, step-by-step, how to create, maintain, and interpret your own point and figure charts. He explains how you can use your findings to track and forecast market prices and develop an overall investment strategy. Perhaps most importantly, he helps you develop confidence in the market and take decisive action at the appropriate time, rather than reacting after the fact. Dorsey also highlights new developments in the field and incorporates the use of recently developed software to track any market using point and figure methods. Written for both new and experienced P & F chartists, this updated edition of a technical analysis classic brings point and figure charting into the Internet age.
Thomas J. Dorsey (Richmond, VA) is President of Dorsey, Wright & Associates, a registered investment advisory firm that uses point and figure charting as its main source of technical analysis.
Customer Reviews:
Point & Figure Charting for STOCK TRADERS ONLY.......2007-05-03
Thomas Dorsey does a great job at explaining (in the first 50 pages) how the Point & Figure Chart is created, as well as some basic 'forms' that the charts can take. I read some of the reviews of this book thinking that as a Futures/Commodities trader (early stage/beginner) I would learn alot about Point & Figure Charting for Futures/Commodities. I was wrong. There are no more than 3 pages in this book regarding Commodities, and only insofar as they are underlying indicators for stocks that rely on commodity prices. So, if you want to learn about Point and Figure Charting, this is an ok book. There may be others out there that are better, as that aspect of this book served its purpose for me....which is P&F Charting APPEARS to be an excellent methodology for Trend analysis (big picture) for Futures/Commodities. However, if you are a Stock Trader then this book may have much more relevance to you. Not a bad book, just not appropriate for Commodities/Futures Traders.
In Defense of the Presentation.......2006-10-23
I find it hard to accept the reviews I have read about this book having poor explanations of the P&F concept, or that they are available elsewhere. Mr. Dorsey's book is first rate. I read this book when it was first released, and I find myself using it as a reference tool quite often. Mr. Dorsey's explanation of the NYSE Bullish Percent chart and how to use it and the Relative Strength charts in conjuntion with your stock selection is as plainly presented as if you were having a conversation with the man.
When you consider that he also has weekly podcasts that help explain how the P&F charts are used, I consider Mr. Dorsey to be THE authority on the subject of Point&Figure charting and this book is an excellent source for learning how to start P&F analysis.
Technical Analysis De-Mystified - Not.......2005-10-18
The other review on this date (wentraub) is not a book review but some random thoughts on investing. The Dynamic Asset Level Investing model is not even in the book but a paid service from Dorsey's website!!!!
How can Dorsy be one of Wall Street's saviest minds when his is in Virginia?
PnF charting is only one of many tool available to a Technician.
Technical Analysis De-Mystified.......2005-10-18
Technical analysts are becoming an endangered species on Wall Street. Major firms have long favored a fundamental approach emphasizing a nuts and bolts approach to company revenues, use of capital, and innovation. Scores of fundamental analysts closely follow individual sectors of the economy, scour SEC filings, and comment on daily developments pertaining to individual companies. Meanwhile a smaller cadre of 'technicians' churn out charts, graphs, and statistics that follow the ebb and flow of investor capital. Recently two well known full service brokerage firms decimated their already small contingent of technical analysts and another firm let go their star technician.
Academic studies on the efficiency of the markets to digest news and quickly reset the market value of securities have long questioned the value of Wall Street analysts to forecast future prices. If news is unpredictable, by definition, and the prices of securities adjust immediately, what is the point of a forecast. These studies have been particularly harsh on technical analysis. Technical analysis may not have helped its cause with a coded language of triple tops, head and shoulders patterns, Fibonnaci retracements, etc. It all begins to sound more like the Occult than analysis. This book blows away a lot of the smoke.
Tom Dorsey has given us a straight forward (if somewhat breathless) introduction to his method of technical analysis. His X and O charts record trends of buying (demand) and selling (supply) in the market. It is this dynamic imbalance, he contends, that is the primary determinant of value in the marketplace. The tendency for these trends to repeat over time represents the psychology of investors to buy or sell at critical junctures. For Dorsey fundamental analysis is useful in determining what company stocks should be owned. Then it is the role of the technician to determine when to buy and sell. Fundamental analysis identifies good companies. Technical analysis identifies good stocks. Good companies do things well. Good stocks make investors money.
The value of Dorsey's work is to help investors find sectors of the economy and securities that may be due for a reversal of fortune after extended periods of under or out performance. The bottom line is that he has developed a useful toolkit for the investor. A look at his Dynamic Asset Level Investing model [12/2004 - not in this 2001 book] that recommends areas to allocate assets (small capitalization stocks, Latin America, natural resources, energy, etc.) seems prescient just about a year later. Using ETFs (exchange traded funds) to develop a portfolio based on Dorsey's model would have inevitably led investors to a chunk of the best returns available for the period. This book should certainly be read by all investors who want an introduction to technical analysis and a better understanding of one of Wall Street's savviest minds. You may not want to be on the other side of too many of Tom Dorsey's trades!
Bait for online service.......2005-06-25
The book is too wordy - in fact the same information is more concisely presented and available for free at DWA website. To follow the method described you need to become a paying member of DWA. A free 2 week trail is also available at the site. This allows you to findout that to really understand and apply this method you need to take several of the $150 classes that DWA also provides. Also, the online service is really geared towards stock brokers (investment advisors).
Use the online course - its faster, cheaper and better.
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Books Index
Books Home
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General
| Popular Economics
| Business & Investing
| Subjects
| Books
Martin Pring's Introduction to Technical Analysis: A CD-ROM Seminar and Workbook
The Market Maker's Edge
The Disciplined Trader: Developing Winning Attitudes
Trading for a Living: Psychology, Trading Tactics, Money Management
The Instant Millionaire: A Tale of Wisdom and Wealth
