Need Recommended books on Technical Analysis....

willing2learn_3

Hi there

Some of you may know i have a thread on here called Practicing Share Investing (i think!)....

I'm just practicing with technical analysis but i need some book recommendations (idiot guides really) - NOT on how to read charts so much as how to use stock screeners, like the one on Digital Look for example.

To explain what i mean the stock screener asks for stuff like the following:

'Price Within x% of 52 Wk High' (and then it asks for a maximum % figure)

Also it asks for 'Price Within x% of 52 Wk Low' (and again asks for a maximum % figure)


I can guess at what i would want these to be but i want to be a little more informed.

There are others, eg, it asks for % Price Break Above MA line (asks for a minimum % and asks you to select number of days).....stuff like that.

If i am making sense and anyone can recommend some book titles that would be great!

many thanks! :T

sabretoothtigger

http://www.technicalanalysisbook.com/


This is an expensive book but I think it is good value . He has also given out free advice for years, his youtube channel is http://www.youtube.com/thermal1

Also read this article http://www.smartmoney.com/Investing/Economy/Tweet-This-12-Financial-Pundits-To-Follow-on-Twitter/


I suggest you sign up for a demo account or use yahoo share portfolio as practice, reality differs alot from books and theory.

All TA can be taken two ways, its about as reliable as reading tea leaves in that the majority of the skill is with the viewer and their own ability to interpret and match it to their own confidence to trade

turbobob

This one might be a good start point. http://www.amazon.co.uk/Technical-Analysis-Dummies-Lifestyles-Paperback/dp/0764540440/ref=sr_1_1?ie=UTF8&qid=1240861429&sr=8-1

Its pretty easy to read and the author seems to know her stuff. It does have a US slant but that doesn't really matter.

It should help you to understand what some of the terms you will see mean. What "MA" is (its a moving average, by the way), and what a breakout is, that type of thing. It won't however tell you "go to a stock screener and type in x and y to get a good buy".. I don't know if you will find any book that does tell you that. It doesn't work like that, IMO. I suppose TA can get as complicated as you want. There's a lot of chart reading but I think the underlying principle and aim of it is understanding and predicting crowd behaviour..

tradetime

Type, using a stock screener into google, you'll probably get as much information if not more, on using one from that as you will from a book on TA. Stock screeners probably aren't covered in any depth in most TA books.
Digital look for example has a help section on their screener, though you've probably read that.
http://www.digitallook.com/dlmedia/help/578/stock_screener.html

Unless you know a book contains the info on things like stock screeners before you buy it, then you'll likely be disappointed with most TA books in reference to that type of subject, a screener is more of a research tool.

DocProc

You can also look for some very good videos on You Tube done by Alpesh Patel

willing2learn_3

turbobob wrote: »

It won't however tell you "go to a stock screener and type in x and y to get a good buy".. I don't know if you will find any book that does tell you that.

Thanks Turbobob

I realise that. I really would like to understand things so that i can set my stock screeners myself - but know what i am actually doing, rather than guessing.

Thanks for the book reference, it looks like a good one!

willing2learn_3

tradetime wrote: »

Type, using a stock screener into google, you'll probably get as much information if not more, on using one from that as you will from a book on TA. Stock screeners probably aren't covered in any depth in most TA books.

thanks tradetime

I've done just that! and printed out some stuff for my next phase of learning - this takes so long!!!!! but then i don't have a lot of time to do this......i will probably devote one of my days off to it in the next day or so

willing2learn_3

sabretoothtigger

Thanks for that - Brian Shannon sounds good i will keep tabs on his work!