28 Best Technical Analysis Books
Technical Analysis is a complicated subject, and not many people can understand it. However, with the right book, anyone can learn how to read charts and study price movements. This article will look at some of the best technical analysis books on the market today!
List of Top 28 Best Books of Technical Analysis
First on the list of the best technical analysis books is Technical Analysis of the Financial Markets, written by John J. Murphy, a well-known author of investing books and courses. He has been writing for over 30 years on various topics that are related to the financial markets.
In the book, Murphy uses his extensive knowledge to explain different concepts on technical analysis. He also provides trading examples of the methods that he has taught so readers can easily understand how it works in real-life situations. It’s a must-read for anyone who wants to succeed in investing and making money from stock buying decisions.
This book is great for beginners looking to understand more about technical analysis, as it is filled with a lot of information that you will find an excellent read. This book covers different topics such as candlesticks, moving averages, and trading systems that can be a great resource if you’re learning technical analysis.
A bonus tip from us will be that this technical analysis book includes specific chapters on day trading strategies if you are interested in using charts or price patterns for intraday market movements instead of long-term investing goals.
This book has over 600 pages, so there are lots here to catch up on!
3. A Beginner’s Guide to Day Trading Online, by Chris Versace
In this technical analysis book, Chris Versace takes the reader through his most important insights on day trading. He covers how to choose an online broker, tips for picking stocks, and general advice regarding risk management.
He also offers a complete guide to understanding technical analysis, which is by far one of the best technical analysis books I have read when it comes to learning about that topic! If you are looking for more in-depth knowledge, then check out Technical Analysis Explained (Dierdre McCloskey)
4. The Complete Idiot’s Guide to Investing Online for Dummies, 2nd Edition, by Ron Blue and Barbara Taylor
In this technical analysis book, the author has made use of easy language with which everyone is familiar. The content makes it possible to understand the essential details for most traders who want to make gains through investing in stock trading or forex trading. Furthermore, readers will find this book useful because they can learn how to analyze stocks and develop a sound investment strategy, especially when using online brokerage account services.
Another great book worth checking out is the Charting Basics and Beyond: Tools and Techniques for Building Winning Charts in Multiple Timeframes on Any Market Indicator or Forecast Model You Choose by Bill Poulos.
The main focus of this book is to teach readers how to build their charts with any indicator they choose and teach them why technical analysis can help novice traders make better decisions when it comes to trading the market. The author will detail such topics as candlestick charting, support and resistance levels, retracements, and extensions – all of which are crucial aspects that every technical analyst should be familiarized with if they want a chance at success within the markets!
6. Swing Trading with Short Term Price Patterns and Opening Range Breakouts- How to Make Consistent Profits in a Bull Or Bear Market (Wiley Trading)
This book is a systematic approach to swing trading in the market. It discusses how you can manage your risk and look at the charts. This book is authored by Steve Nison, who has been involved with technical analysis for over three decades. He also co-authored another bestseller called Japanese Candlestick Charting Techniques that brought candlesticks into mainstream use in western markets.
This is a great reference for people looking forward to developing their trading style or who have just begun exploring this aspect of financial markets. If you are not well-versed yet with candlestick chart patterns, read up on the basics before trying out anything from this book. It will take a lot more than reading any other introductory material to understand what these patterns mean and how they can be used.
7. The Chartist’s Cookbook
This book is incredibly easy to read and comprehend. It is one of the best financial instrument for beginners who want to learn about technical analysis. In this book, Joe Ross focuses on how an individual can successfully make a living out of trading by using technical indicators in their day-to-day trade decisions. The main focus of Ross’s work involves identifying explosive moves from which you can benefit if traded correctly.
Ross begins with simple price patterns that include triangles, channels, wedges, and cup & handles, among others, before moving into more complex ones such as head & shoulders formations and double tops/bottoms, etcetera at the end of the book. This ensures that novices can understand his teachings easily before being introduced to complicated concepts later on when they are ready for it.
In this book, Robert Pardo provides a detailed description of the Fibonacci numbers and their relationship with financial markets. He also shows how to use this technique in trading by identifying specific levels that can be used for entering or exiting trades. Readers will learn about Pardo’s “Elliott Wave Principle” approach, combining fundamental and technical analysis into a cohesive strategy for successful trading.
This Martin’s book is a great read for traders who are new to the world of stock market. It provides a very comprehensive explanation of how the markets work and covers all charting techniques that any trader can use.
This book is written in an easy-to-understand manner, so even those with no knowledge about trading will not have trouble understanding it as long as they put effort into reading through it properly. This book acts as a foundation from which you can move forward to other books on this list if you wish to do so after learning more about basic concepts here!
10. Elliott Wave Principle, Key To Market Behavior – R N Frost and A Prechter Jr
In this book, the author discusses the Elliott wave principle, which is popularly known to be a set of market rules that can explain all forms of financial behavior. The book further explains why these principles have been used for decades and how they can help you keep up with your investments.
11. A Complete Guide to Chart Patterns by Thomas Bulkowski
In this book, you will learn about more than 100 popular chart patterns. These charts contain all the major formations, including head-and-shoulder, cup with handle, and double top/bottom. Each design includes an image of what it looks like, which allows for easy identification on any market traded. Whether a beginner or someone who has been trading for some time now, this book will be useful to everyone because of its statistical approach towards learning how to read these technical analysis tools better.
This guidebook was first published in 2007 but has since gone through several revisions as new information surfaces on different formations appearing during trade activities across financial markets worldwide today.
12. The New Trading for a Living by Dr. Alexander Elder
The author uses a real-life example to show the reader how he made $120,000 in two and half months using technical analysis. Though it may be difficult for someone just starting as an investment analyst or trader, this book explains that markets are not random and can be predicted based on certain events. This is one of the most recommended books for traders who want to get started with technical analysis.
13. The Encyclopedia of Chart Patterns by Thomas Bulkowski and Robert D Colby
Another book by Thomas Bulkowski, this book is a detailed and descriptive analysis of chart patterns. Some of the various topics covered include head-and-shoulders patterns, ascending triangles, etc.
Since there are more than one hundred types of charts in use today, it becomes increasingly difficult to identify these patterns quickly and accurately for traders. This encyclopedia provides you with all such information that can prove useful when trading stocks or currencies online.
14. Japanese Candlestick Charts – A Contemporary Guide To Traditional Investment Techniques By Steve Nison
This is another great book on technical analysis by Steve Nison, published in 1991. This was the first candlestick charting technique introduced to the west and has since become a staple for millions of successful traders worldwide who are looking for an edge over other market participants. The book goes into great detail about how candlestick charts work and provides lots of examples. This is a must-have for anyone looking to understand the basics of technical analysis.
15. Technical Analysis Explained, Fourth Edition
This book is an especially good read for any trader or investor interested in the discipline of technical analysis. It’s a paperback book with 415 pages, and it was published by John Wiley & Sons, Inc on July 18th, 2014.
16. Technical Market Indicators
In this book, there is a discussion of how to use different technical indicators. The author has done an excellent job explaining the most popular and widely used indices such as Relative Strength Index (RSI), Bollinger Bands, Moving Averages, etc.
This book provides you with a clear understanding of various financial terms frequently used by both novice and experienced professionals alike.
17. Trading and Exchanges by Larry Harris
Larry’s book is a must-have for individual investors who are interested in learning about the trading market. He covers everything from reading charts to understanding how trades are executed through extremely easy-to-understand language and diagrams. If you’re looking for an excellent book on the technical analysis of exchanges, this one’s your best bet!
18. New Trader, Rich Trader by Dr. Alexander Elder
In this book, the author discusses various aspects of technical analysis and their applications to trading. He starts by explaining what a trader is and how he must think and then describes different types of markets, from commodities, stocks to foreign exchange.
The book eases the reader into learning about indicators such as moving averages, RSI oscillators, etc. Readers should note that this book teaches using “tricks” or strategies rather than fundamentals which are very important for any successful strategy/system development.
19. Mastering the Markets with Volume Price Analysis
In this book, the author and founder of the Market Technicians Association, Robert D. Edwards, presents a detailed explanation of volume price analysis (VPA) to readers interested in learning more about this topic. The book is divided into three major parts that discuss different issues related to VPA.
20. Technical Analysis Explained for Dummies
This is another great book that every trader should have in their library. It covers all the basics of trading and even a few advanced topics such as candlestick charting, Fibonacci levels, etc. The book is well-written with easy-to-understand examples that will be useful for beginners looking to get into the market or seasoned traders trying new strategies.
21. Understanding Chart Patterns and Trading Set-Ups
This book has over 300 pages of useful information that will help you understand technical analysis. There are charts, examples, and practical interpretations to illustrate the lessons learned in this book.
The author explains simple yet powerful concepts about chart patterns that both beginners and top traders can use. He also explains how trading set-ups work with real-life case studies so readers can better understand what they should look out for when reading market conditions or studying price action on their charts.
22. Candlesticks, Charts & Market Psychology
In this book, the author Yoshiaki Tobita takes a deep dive into candlestick charting, one of the most popular forms of technical analysis. The book starts with an introduction to market psychology and how it plays a role in trading.
The information provided here comes from practical examples and includes some theories on why things work the way they do when applied correctly.
23. Trend Following Investing Strategies for Maximum Profit
This amazing book is all about trend-following strategies. This is not just for any random person, but it helps you understand technical analysis in a way that no other book has been able to do before.
This amazing book was written by Jack Schwager, who also wrote Market Wizards and many more books related to finance. If there’s one thing I can say about this author, he does his research very well when writing these types of books because they are always filled with great insights from the top traders out there!
24. Beyond Candlesticks – Reducing Risk in Your Investments with Advanced Techniques from a Wall Street Insider by Steve Nison
This Steve’s book is one of the most influential books in technical analysis. It is a great book for investors interested in learning the basics of trading with candlesticks and their patterns.
The author’s passion spreads throughout this entire text as he provides readers with real-world examples that he has personally used over his years on Wall Street, making it an extremely helpful resource for those looking to incorporate candlestick charts into their investing strategies.
This guide covers all aspects of reading candlestick charting, including how prices form within each candle, what moving averages are, identifying different types of reversal signals from candles, understanding market psychology through volume activity, price projection methods using channels/wedge formations, Fibonacci ratios and more! By following Steve Nison’s tips from the book, you will be able to avoid some of the common mistakes that plague candlestick charting and increase your chances of a successful trade.
25. Rediscover Technical Analysis: The Three-Language Visual Format by Mark J. Powers
This book is not just about technical analysis, but it also includes information on using fundamental analysis for making trading decisions. This book provides more than 100 examples using charts and real-world explanations on why certain actions occur in specific markets across multiple time frames. In addition, this book delves into forecasting price action through understanding market psychology via sentiment indicators such as put/call ratios, short interest, etc., volatility indexes like VIX & IVR, Fibonacci levels, trend lines, moving averages, stochastic oscillators, and much more to help you become a better trader.
26. The Art & Science of Technical Analysis – A Comprehensive Guide To Trading Methods And Applications by Stephen Mayland
This book is an in-depth guide for beginner investors and advanced chartists looking to improve their technical analysis skills. The author provides clear explanations on common but often misunderstood concepts such as overbought/oversold conditions, support & resistance levels, head & shoulders patterns, or bullish gaps that are all essential tools for trading success which many other books fail to explain in detail.
This comprehensive handbook covers everything from market fundamentals through understanding buying vs. selling pressure via volume studies, price action-reaction around key pivot points (open/high/low), price projections, momentum oscillators, and much more. This book is a great resource for traders of all levels looking to learn how to combine technical analysis with fundamental analysis when making trading decisions.
27. Trading in the Zone by Mark Douglas
Also, this book is a must-read for investors because it helps you understand the mindset and psychology of trading.
This book is considered one of the best technical analysis books in 2017 by many traders, including myself. It has great insights on how we should manage our trades and emotions when we are trading. Not only that, but this book talks about different kinds of market behavior such as trends, corrections, consolidations, etc., which I think every trader needs to know about.
28. Reminiscences of a Stock Operator by Edwin Lefevre
Last on the list is this book, which was originally published in 1923. This is a fictionalized biography of Jesse Livermore, who lived from 1877 to 1940 and became one of the richest people on Wall Street during that time. The author focuses entirely on how Mr. Livermore used technical analysis to make his decisions while trading stocks at various points throughout history, including before World War I and after it and through the Great Depression.
What is technical analysis?
Technical analysis is a way of reading the market and understanding how different factors affect an asset’s price over time. It includes studying indicators, patterns and looking at volume and open interest, among other things, to give you a good idea about what direction prices will go.
What are some of the best technical analysis books that I can read?
The following list has been compiled carefully by industry experts using their own experiences with these popular TA books:
* New Trading Dimensions – Dr. John L Wack
* Come Into My Trading Room – A Complete Guide To Trading – Alexander Elder (this particular book was recommended multiple times)
* A Beginner’s Guide To Day Trading Online The Technical Analysis Course For Building Confidence And Increasing Your Chances Of Success – Ian Bezek
* The Disciplined Trader – Developing Winning Attitudes (Wiley Trading) (Volume 14) – Mark Douglas.
Why should I read these technical analysis books?
Each of the best technical analysis books has been written based on their authors’ personal experiences. Reading them can truly help you become a better trader by learning from other mistakes investors make and seeing what works for others in different situations.
What are some of the best trading strategies that I should know about?
There are many ways to trade effectively, but it is important to educate yourself constantly to have the edge over everyone else. The following list contains some popular strategies:
* Money management
* Cut losses short
* Rise above your fears
* Let winners run
* Time your entries correctly
* Diversify wisely
Which technical indicators should I focus on?
There are a lot of technical indicators that you can look at, but some traders prefer those with low lag. Some popular choices include:
* Moving Averages
* On Balance Volume (OBV)
* Williams %R/%D “Bollinger Bands” and “Keltner Channels” as well as the Parabolic SAR, among others
How much money do I need to start trading?
The amount required varies depending on your style, experience level, etc. However, it is important to remember that you should not risk more than what you are comfortable losing because if things don’t go according to plan, this could result in big losses and burn a hole in your wallet.
How can I access these technical analysis books?
There are many ways to purchase the best technical analysis books:
* Buying them from local bookstores
* Ordering online at amazon or other retailers
* Going to the library and checking if they have it there
Technical analysis is a very effective tool that every investor should use in trading stocks. The best way to learn how to read charts would be by reading books on this topic and practicing often. The more you practice, the better your skills will become over time! I hope that I have provided some insight into what makes for good technical analysis books and given my opinions on which are the most important ones out there today. These are all great reads for anyone wanting to get started with learning about chart patterns or using them themselves while investing in stock markets worldwide.