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Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
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Customer Reviews
Rating:  - How to build a trading system
I am a newbie to technical analysis. Mr. Murphy's book explained a lot of the concepts in a way that I believe I can build a trading system that will make me more money than the "buy-and-hold" approach so much advocated by the popular media. I highly recommend it to newbies like me and even some intermediate folks.
Rating:  - A Classical Book !!
A classic book, which simply contain all about technical analysis in a very simplified and glass-clear way. Read, analyse the charts and go!
I have been advised to read the book for a thorough informations about technical analysis and I found it right there. All of it!
Rating: - Good book, bad binding
This book is great for all the reasons everyone else listed; however, my complaint is that I bought the book brand-new, and the binding is really cheap, so it's already falling apart after few uses. If you're paying more than $50 for a book, it ought to be made better!
Rating: - The definitive primer to a successful future in applying technical analysis
"Technical analysis of the Financial Markets" by John J. Murphy is an incredibly complete introduction to the world of technical analysis. From the outset, it is clear that Murphy has a predisposed bias towards the use of technical analysis (herein TA) leading to a successful and profitable career as a trader. However, it is also true that the author has a unique understanding of the subject, and moreover, is capable of sharing that with his readers in a very systematic and easy-to-understand manner. This is undoubtedly an excellent primer for someone looking to become proficient in TA.
I must say that I am solely concerned with trading the currency markets, and that prior to reading this book had but a novice understanding of how forex actually works. Everything Murphy discusses here is applicable to my area of interest, sans exception, whether that be directly or indirectly. I presume it is similar with other markets as well.
The concepts that Murphy addresses seem to be very traditional from a TA point of view. He does not present anything revolutionary, but in a sense, the fact that the book is so classic in its methods, yet contemporary in its application is revolutionary in itself. I believe he covers basically all basic-intermediate tools available, from support and resistance lines, to Wilder's RSI and Parabolic SAR, and candlestick analysis. I feel that if one was to read specific books on each of the major topics Murphy addresses than that would be adequate for them to apply TA confidently, and be able to profit consistently from the markets. The book as a standalone is not enough. Moreover, it does not discuss fundamental economic analysis of the markets, which I personally feel is important for attaining a gauge as to how the markets are performing long-term and what investor sentiment is like.
Regardless of all the critique I have mentioned, this book is incredibly well-written, and presented, and covers all the major ideas in technical analysis to a level that allows the reader to know what he is doing, when actually doing it.
Definitely 5 out 5 stars.
Rating: - Nice book
Very nice book, contained a lot of useful knowledge, written in understandable for not expirienced person lanquage, not boring at all
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