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Introducing the best books for learning technical analysis

Success in the financial markets is not a matter of luck; Rather, by increasing the level of your knowledge, you will make progress in this field. One of the ways that leads to the acquisition of knowledge in the field of technical analysis; Studying books is educational, but not any book!

Many books for Learn technical analysis It has been published in various fields such as: principles of technical analysis, chart patterns and trading psychology. Many of these books provide old, outdated or even irrelevant information, there are several books that are known as timeless masterpieces in the field of technical analysis. They have beautifully depicted the art of trading in the financial markets and have published information in this field knowing that charts do not have specific behaviors and are changing every moment.

5 of the best technical analysis books

In this article, we introduce five books that are known as masterpieces in the field of technical analysis; To help traders and investors better understand the topic and apply the strategy in their trading.

1. Introducing Jack Schwager’s Technical Analysis Starter Book

  • English title of the book: Getting Started in Technical Analysis
  • the writer: Jack D. Schwager
  • Release year: 2008
  • level: From beginner to professional
  • Amazon Rating: 79
  • Translation: has it

Jack Schwager is a famous expert on the stock market and investment funds in the United States of America. Graduated from Brooklyn College and Brown University. The author divides this book into four main sections: Basic Concepts of Technical Analysis, Price Data Issues, Trading Systems (Trading Plan) and Trading Styles. In fact, by reading the whole book, you should have learned a complete understanding of the basic concepts of technical analysis.

Also, the book includes important parts of technical analysis, such as chart patterns, familiarity with trading tools (indicators and oscillators), application software and how to set it up, types of candlesticks, trend lines, time frames, etc. Jack Schwager Chapter About 82 laws It has about financial markets that is useful for every newbie.

Another book by the same author (Jack Schwager) called “Wizards of new markets” has also been published. This book contains interviews with hundreds of successful American stock market traders.

2. Introducing John Murphy’s technical analysis book

  • English title of the book: Technical Analysis of the Financial Markets
  • the writer: John J. Murphy
  • Release year: 1999
  • Level: from beginner to professional
  • Amazon Rating: 15
  • Translation: has it

This book is chosen by market professionals as one of the best books in the field of technical analysis training; To prove this claim, This book for 7 years It is among the best-selling educational books in the field of technical analysis and investment in financial markets and has been translated into several different languages. John Murphy He is a prominent and well-known analyst of the American stock market, who has briefly expressed the results of his 30 years of experience in the form of 10 rules to those interested in the field of financial markets.

The 10 most important laws of John Murphy are as follows:

  1. Chart trends
  2. Identify trends
  3. Identification of supports and resistances
  4. Measuring the size of the price correction
  5. Draw lines
  6. Japanese candlestick charts
  7. Learning time cycles
  8. Financial management and trading tactics
  9. Presence or absence of a trend
  10. Continuing patterns

By reading this reference book, you will learn a lot about how to read charts, understand indicators and the key role of technical analysis in trading, especially in futures markets. Among the book titles, the philosophy of technical analysis, Dow theory, chart structure, important reversal patterns, continuation patterns, trading volume, long-term charts, oscillators, point and shape charts, candlestick charts, Elliott wave theory, time cycles and financial management in the capital market Is.

3. Introduction of the price action market traps book

Introducing Ray Wang's Price Action Market Traps book

  • English title of the book: Price Action Market Traps
  • the writer: Ray Wang
  • Release year: 2017
  • level: From intermediate to professional
  • Amazon Rank in Education: 7,133
  • Translation: has it

this book Written by Mr. Ray Wang, a famous financial market trader who was recognized as the best stock market analyst in 2009. In this book, he introduces the most famous traps that occur in the markets and traders are often caught in their trap.

The book consists of two parts. The first part explains the psychology of the formation of traps. The second part introduces 7 traps along with many examples to better understand the concept of trapping that exists in each diagram. Traps are a type of chart pattern, like any other pattern, they occur continuously.

The 7 important traps that he deals with in this book are:

  1. common trap
  2. A common trap
  3. The danger trap
  4. Failed trap
  5. Double trap
  6. News traps
  7. Morning specials

Learning the different types of traps can make you excel in your trades. You must be able to identify them and try not to fall into their trap.

4. Introduction of the technical analysis book in multiple time frames

Introducing the book of Technical Analysis in Multiple Time Frames by Brian Shannon

  • English title of the book: Price Action Trader
  • the writer: Brian Shannon
  • Release year: 2008
  • level: From beginner to professional
  • Amazon rating in technical analysis: 71
  • Translation: does not have

Brian Shannon is an American author, stock trader and analyst. In 2008, he published a book titled Technical Analysis in Multiple Time Frames; To teach beginner and intermediate traders the tools and tactics that will make them one of the most successful independent traders in the financial market.

This book is also very attractive to professional traders because they can find it practical and useful to read the book regardless of the strategy they use. The book identifies the main position of technical analysis in different time frames and examines suitable trading positions for greater success of the trader. It also talks about various topics such as: short-term buying and selling, psychology of price movement, conditional orders (Limit Order, Stop Limit), loss limit and identification of price targets.

5. Introducing the volume profile book

Introduction of Volume Profile book from Traderdale

  • English title of the book: Volume Profile
  • the writer: Trader Dale
  • Release year: 2018
  • level: professional
  • Amazon rating: 64
  • Translation: does not have

The author of the volume profile book with a pseudonym Trader Deal Is known. A full-time financial market trader who holds a forex investment certificate; He also has more than 12 years of trading experience in the financial market. Mr. Dale first started his career as a market analyst in a large brokerage; After a short time, he entered the trading world full-time and started working alone.

His trading strategy is based on following the footsteps of big banks and financial institutions that move the market by bringing in their large capitals. This book tries to teach the concepts of how to move a trend and identify them based on volume (Liquidity). Also, the book tries to establish a relationship with the reader and teach him his trading setups with many examples and pictures. Finally, the reader can think in the same direction as big banks and centralized financial institutions and open his own transactions. .

Interesting topics that are mentioned in this book. as follows:

How to work with price action, learn about a number of strategies that are designed based on the volume (Liquidity), how to work with the volume profile (Volume Profile), how to find your trading strategy, the best tactics for trading, when the news is released. How to manage your trades, trading psychology, how to backtest your strategy, how to enter a trade with a backtested strategy, what are the most common trading mistakes and how to avoid them and… all this with very expressive examples and pictures has been

5.5 – (8 points)

The article introducing the best books for learning technical analysis for the first time in today’s currency. appeared.


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