Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications

by John J. Murphy

Book Overview

John J. Murphy has updated his landmark bestseller Technical Analysis of the Futures Markets , to include all of the financial markets. This outstanding reference has already taught thousands of... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0735200661
• Release Date: January 1999
• Publisher: New York Institute of Finance
• Length: 576 Pages
• Weight: 2.88 lbs.
• Dimensions: 9.6" x 1.6" x 7.3"

Customer Reviews

An excellent reference - well worth the investment

It is entirely possible to spend more time reading trading books than doing any actual trading. This is one of the few books that will remain on my bookshelf and I highly recommend it FOR WHAT IT IS INTENDED - an excellent reference on technical analysis (TA). What I was looking for was something to provide clear, concise descriptions on various technical indicators across all types - trend analysis, price patterns, candles, oscillators, etc. And Murphy not only does this well, but his work provides enough information that I do not see the need for another book on TA on my bookshelf, even though I know that other very good books are available (e.g. Pring). But this one is enough for me. It is well organized and indexed so that I can rapidly look up something while I am setting up trades and get the basic info that I need. One surprise was how well written the book was and how much I enjoyed reading it. I expected a dry reference book but instead found an excellent and engaging read, perhaps with the exception of the chapter on point and figure which was not up to the rest of the book. (If you are completely new to TA, you might find it less entertaining, but in comparison to the dry tome that I expected when the monster-sized book arrived, Murphy is remarkable in his ability to convert most TA topics and examples into 'normal' English.) He also is not a proponent or zealot about any one indicator type, which I appreciate. He does a good job of describing each within the context of its value without trying to convert anyone to any specific indicator. As I do not believe in magic bullets in trading, I appreciate his straightforward approach. Let me also note what this book is NOT so that you do not buy it for the wrong reasons: a) As you should gather from the above, this is not a trading system. Murphy will not tell you which indicators to use most or in which combinations to produce the best results. He will provide insight into many indicators and classes of indicators but he is NOT trying to convince you to use any specific indicator in any specific way. So he doesn't try to convince you of WHAT to use, just helps you understand WHEN, WHY and HOW each indicator type is used by various traders. b) Also, this is NOT intended to be the complete, in depth statement on any of the topics covered. For example, his section on Candlestick formations is simple, clear and includes many examples, but it is undoubtedly not the same as picking up Nison's works on Candlesticks. Similarly, you can find many books dedicated to Elliot Waves, Fibonaccis and other topics. Murphy provides the basics, but do not expect as thorough an explanation or justification as a dedicated book would provide. Then again, expect a dedicated book to try and convince you why its particular system or method is so much better than any other, something that Murphey will not try to do to you! c) Finally, this book is NOT intended to convert people who do not acce

Technically speaking, one should buy this book

Investing isn't easy. Investing profitably is even harder. As a result, investors are always looking for that `angle', that `edge' that will help them realize more consistent profits.In the past 2 decades, many on Wall Street have come to believe that technical analysis of stock charts is one of those tools. Having worked in the financial services markets since 1987, I do believe that technical analysis can be a helpful tool. And if you are looking for a definitive source of TA, then look no further.Technical Analysis of the Financial Markets by John Murphy covers all the basic aspects of TA: philosophy, chart construction, fundamental vs. technical analysis, trends, major technical pattern recognition, moving averages, oscillators, times cycles, computer trading systems and much more. He also covers different methods of charting, including bar, point and figure and candlestick (be aware that most of the analysis techniques he presents apply to bar charting, not PnF or candlestick). What I like most about the book is that it written clearly, simply and logically. It uses many graphical examples that SHOWS the reader what to look for. It does not rage on about the merits of TA (which many investors feel is complete hooey) but how to apply basic (and sophisticated) TA techniques. I use TA frequently in my business and find that it helps me manage my client's portfolios more effectively, especially when it comes to SELLING a position, whether to lock-in gains or limit losses.If you are a TA convert, or if you have an interest in learning more about it, this book is a useful guide and should be purchased. Today, it remains one of the few investment reference books that I keep in my office.

Text Book style - very effective analysis

Murphy has taken a very technical analysis of a "dry" subject and turned it into a readable, useful guide that should by read (and referred to often) by everyone who dares trade in the futures markets. It's a great first book on the subject, and a great book for experts alike.

Excellent Primer!

This should be on every techie's bookshelf! Much better than the info in those $195 "get rich quick" mailings, for a lot less. If you are interested in learning technical basics, at a bargain price, this is the place to start. You will find yourself reviewing it over and over.

A MUST FOR THE BEGINNER AND THE EXPERT

The Best book you can ever find on Technical Analisys. For everybody that wants to starts with Commodities Trading I suggest this Book. Best thing that You can do is to read before all the Schwager on Futures series after pass to it and lately read another great book of john "Intermarket technical analisys", It is the best book ever written on trading. Like that you' re going to understand HOW THE MARKETS REALLY WORK. As a Member of IFTA(International Federation of Technical analisys) I suggest this book to whoever wants to start in Technical analisys. As a Professional Trader I still use John book. It is always on my desk as reference. You will find everything you need to know about Technical Analisys and something more. If you need some help do not hesitate to contact at my E-mail. In bocca al lupo per il trading!!!