Technical Analysis Explained, Fifth Edition: The Successful Investor's Guide to Spotting Investment Trends and Turning Points Hardcover – Illustrated, 8 January 2014
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From the Back Cover
Technical Analysis Explained, Fifth Edition, is the updated bible of technical analysis written by a renowned expert and educational pioneer in the field. Widely recognized in the investment industry as the most authoritative guide on the subject, it gives you everything you need to forecast accurately how investors will respond to future events based on how they have statistically responded in the past.
Martin Pring, described in Barron's as a "technician's technician," uses his popular straight-talk style of instruction to help all types of investors forecast price movements with reliable accuracy. Through his concentrated blend of theory and techniques, generations of investors have become better traders and gained long-term wealth. Now, this new edition shows today's investors how to use the power of technical analysis in computerized markets with everchanging investment products.
This well-organized guide gets you started right away with:
- A step-by-step program for making technical analysis part of your investing routine
- Practical strategies for using today's most sophisticated investment tools and techniques
- An insider's look at the psychology of investors aimed at mastering your emotions
Movement in stock prices, breaking business news, and regularly issued financial reports all cause traders and investors to react--and often overreact--in predictable ways. Take the guesswork out of growing your portfolio by staying ahead of those reactions, where you can both profit and protect your assets with Technical Analysis Explained, Fifth Edition.
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Most helpful customer reviews on Amazon.com
This book proposes theoretical concepts with easy/idolized sketches to illustrate each concept. Unfortunately, the verification of the presented theory by real market examples shows poor agreement when critically evaluated. To restate, the "proof" of trend behavior seems cherry picked and inconsistent between figures.
Furthermore, the book seems to be full of typos. In chapter 2, the figure numbers in the text do not match the actual figures being described. Upon doing a critical comparison of charts 2.3-2.5 to the presented theory in the chapter, I hardly find justification for the asserted trends proposed from the data. The figures also have no legends or descriptive captions to explain the use of dashed or solid arrows. In chart 3.1 (a rare example of a figure with a legend) the legend is a typo.
I've come to the conclusion that if you leisurely read this book and accept the "trends" without critical evaluation, you will believe you are being given valuable knowledge. If you attempt to study the chapters you will find it's bologna.
As stated above, I'm far from finishing the book. This review will be updated as I continue, if I find it necessary. Though, if this pattern continues, I will likely cut my losses and just throw the book away..