Hi, can you please give me some recommended books for technical analysis for stok market, off course for beginers. I am new in brokerage industry in emerging market. Do you think candle stick, MACD, RSI are good predictors for price pattern? I would be glad if you can help. Thank you.
I like Pring’s “Technical Analysis Explained,” and I also like Tharp’s “Trade Your Way to Financial Freedom” (which is more about trading systems than pure technical analysis, but it has good sections on indicators). I also caution you to think of technical analysis as just one tool in a technical system. Money management and risk controls (sizings, stops, target profit-taking levels) are just as important, perhaps even more, than the technical signals. It’s counterintuitive, but true. Also, understanding your emotions as your system works or doesn’t work is pretty essential too.
“The Visual Investor” by John J. Murphy
John Murphy is the man!
“Quantitative Trading Strategies” by Lars Kestner This book was one of the assigned textbooks for CAIA Level II. I do not know if it still is. The content is more about strategies rather than analysis, but covers a wide spectrum of technical issues.
Bluebird, I don’t really like technical analysis, but I think the simplest book I’ve ever seen was “Stikky Stock Charts” or something like that. It couldn’t be more like a children’s picture book. I bought it a few years back and was more impressed with the delivery method than the actual content. It’s made to be presented in a logical, easy-to-understand methodology that teaches you quickly and permanently. It’s supposed to make it “stick”, hence the title. At only something like $15, you probably could do a lot worse.