Getting Started in Technical Analysis

by Jack D. Schwager

Book Overview

Die technische Analyse ist die Kunst, Charts zu interpretieren, um die Preisentwicklung eines bestimmten Wertpapiers vorhersagen zu können. Tausende von Maklern gründen bereits ihre Investitionen auf derartige visuelle, nicht-mathematische Analysen. Der Autor bringt Licht ins Dunkel der einschlägigen Terminologie und erläutert die Analysemethoden klar und detaillert, so da auch der Durchschnittsinvestor sie anwenden kann. (11/98)

• Format: Paperback
• Language: English
• ISBN: 0471295426
• ISBN13: 9780471295426
• Release Date: February 1999
• Publisher: Wiley
• Length: 352 Pages
• Weight: 1.09 lbs.
• Dimensions: 1.0" x 6.2" x 9.2"

Customer Reviews

Excellent beginner's book

I'm familiar with Schwager from his two Market Wizards books, in which he interviewed and profiled many of the great traders of our times, such as Paul Tudor Jones, the great futures and swing trader. So when I saw this I decided to check it out.I would recommend this as a good beginner's book. Read this before you undertake Martin Pring's book on technical analysis, for example, as his exhaustive analysis of chart patterns will be too dense and forbidding if you're just starting out. Schwager strikes a good balance between getting the concept across and inundating the beginner with too many details. Most technical analysis methods aren't that hard to understand, even the ones based on more sophisticated math; it's the application to the real-world charts that takes some skill and experience.For me the best chapter was the 82 Rules of Trading, which contains 82 short statements about trading principles, including such classics as never selling a stock that is making new highs (probably as close to an "absolute" principle as there is in the markets). This chapter may be most useful to someone with more trading experience in the market who's experienced what happens when you violate these principles, but they're there anyway, and it won't hurt you to get exposed to them right off. Overall, a well written, clear, and concise introduction on this aspect of trading.

A Complete Insight Into Getting Started in Tech. Analysis

Getting Started in Technical Analysis provides a fantastic overview to the world of technical analysis, with topics ranging from the age-old fundamental vs. technical debate to outlining of trading guidelines. Written in an easy-to-understand style, the book is also easy on the eyes (which cannot be said of many financial books). Schwager uses the first seven chapters to define many of the technical factors that novice traders should know before they can trade in today's active market. Part One illustrates a wide range of basic technical-analysis tools and how they are (or should be) used. Chart patterns, oscillators, trends and the like are explained concisely with easy-to-follow sample charts. The reader can quickly absorb these basic ideas before moving on to Part Two.In Part Two, the reader gets his/her first taste of the "how" of technical analysis. The author delves into topics like pyramiding, stop-loss points and exit signs. This is also the part where the author's "Most Important Rule in Chart Analysis" is laid out. Part Two can easily make a reader anxious to start (or get back to) trading.The third section of Getting Started in Technical Analysis approaches trading systems and software. The author describes the most pertinent options that a trading software package should contain, leaving the legwork to the reader. In the discussion of trading systems, there is no magic formula here, simply guidance to develop and test a trading system of one's own. Part Four is vital to the trader...novice or otherwise. The author (who is CEO of Wizard Trading) offers practical trading rules and market wisdom.Getting Started in Technical Analysis is an excellent source of information for the soon-to-be, novice, or expert trader. This book should have a reserved shelf space in every trader's library.

Master this.

If you want to trade commodity futures (and who doesn't?), there's no better place to start than with the "Getting Started..." series, and this volume in particular. There are books with more detail and broader coverage, but you have no business looking at them until you master the stuff Schwager presents here. And there's a gracious plenty here (339 pages). He covers, among other things, the validity of technical analysis, chart principles and patterns, trendline construction, trade management, and failed signals ("the most important rule in chart analysis"), with enough humor to pleasantly surprise you from time to time. I've been studying commodities for about a year and trading a little, and I keep coming back to Schwager to clear my head.

very good book to get started in tech analysis

getting started is very good introduction to technical analysis, or those interested in this topic. However for a more extensive review of the subject, one might consider some of john murphy's books.

This is a great book!

I've been using technical analysis for over 5 years now, and I still found a lot of useful information in this book. What I found especially helpful was the discussion of different trendline patterns suchs as flags, pennants, and wedges. The most interesting chapter, without a doubt, is where Schwager shows you a graph of a stock or future, and tells you what he recommended (buy or sell short). The reader then agrees or disagrees with his assumption, and turns the page to see what happened. It was very informative, and shows that even the pros are wrong sometimes, and how they recover from it to limit their losses.