Traders often rely on Technical Analysis to determine their next best moves in the forex, commodity and equity markets. Although Fundamental Analysis is the primary tool utilized by the investor community, technical analysis ranks heavily as an aid in reaching decisions on when to enter and exit a particular market. Even traders who specialize and engage in intraday trades, or short to medium term trading, are cognizant of the fact that technical analysis should not be ignored. There has been much written about the art and science of technical analysis. We’ve compiled a list of ten of the best technical analysis books available on Amazon right now.
Amazon’s Best Books on Technical Analysis
Technical analysis is a methodology developed by traders to forecast, through the study of past price/market volume, the direction prices will be heading in the future. It’s a difficult task, particularly for new or inexperienced traders. Many paid courses exist which teach about trading and company analysis. There are also a lot of books on Amazon, which cover much of the same material. Many authors do an excellent job explaining not only the technical jargon, but also winning strategies traders can employ. Here’s a list of 10 of these books, and some commentary on each of them.
1.Charting and Technical Analysis by Fred Mcallen
Outline: This book is aimed at investors who may be frustrated with their financial advisor or investment firm, and want to venture out onto their own path for strategizing and making trades. It provides a solid overview of technical analysis.
Best For: Beginning traders – the author stresses that he can deliver the critical background information needed to understand technical analysis, and not just fall back on the traditional Buy Low, Sell High advice.
2.Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
Outline: An update of his previous bestselling Technical Analysis of the Futures Markets, revised and expanded, and aimed towards today’s investment playing field.
Best For: A special emphasis is placed on futures trading. Investors interested in this particular discipline should find the book both interesting and informative.Buy now here
3.Trading: Technical Analysis Masterclass: Master the financial markets
Outline: A comprehensive primer into the world of technical analysis. Divided into two parts, it covers the whole gamut of technical analysis.
Best For: Excellent for beginning investors, because of its comprehensiveness. It really goes right to the very beginning, with the goal of having novice investors not make the same mistakes the author himself did when just starting out. Undoubtedly, it’s one of the best Technical Analysis books Amazon right now.Buy now here
4. Getting Started in Technical Analysis by Jack Schwager
Outline: A throrougly hanalysis of the numerous types of charts utilized in technical analysis by a recognized expert in the field. At 300-plus pages, it contains a wealth of real-world examples that will serve as good illustrations for a beginning investor trying to get their head around technical analysis.
Best For: Beginning investors interested in all there is to learn about technical analysis and the pertinent charts used in the technique.Buy now here
5. Technical Analysis Explained by Martin Pring
Outline: First published over 30 years ago, now on its fifth edition. Contains brand new chapters, but maintains its original profit-driven approach. A guide that strives for communicating repeatable steps to achieve investing success utilizing technical analysis.
Best For: Investors looking to tighten up their discipline to achieve success, through the author’s lessons on technical analysis.Buy now here
6. Technical Analysis from A to Z, 2nd Edition by Steven Achelis
Outline: A comprehensive guide as the title suggests, updated from the original edition with 35 new indicators, bringing the total covered in the book to 135 indicators.
Best For: Those seeking a lot of detailed information. At 400-plus pages, the updated edition contains even more details to help illustrate its examples of technical analysis indicators.Buy now here
7. Technical Analysis for Dummies by Barbara Rockefeller
Outline: An absolute beginner-focused guide to technical analysis, now updated in its second edition.
Best For: Readers looking for a slightly simpler worded doorway into the world of investing and technical analysis. The book focuses on easy-to-follow text and examples so that the reader is not overwhelmed.Buy now here
8. Technical Analysis Using Multiple Timeframes – Brian Shannon
Outline: A comprehensive overview of technical analysis, with a focus, as the title suggests, on utilizing multiple timeframes to make trading calls. Has very impressive positive reviews almost across the board, particularly from beginning investors.
Best For: Beginning through intermediate investors are the target of this book.Buy now here
9. Ichimoku Charting & Technical Analysis by Charles G. Koonitz
Outline: A comprehensive overview of the Ichimoku method, which focuses on six specific component indicators, with an emphasis on avoiding investment in riskier areas. The author is an acknowledged expert on the topic.
Best For: Those investors seeking to get a deeper understanding of this particular methodology. Ichimoku, most experts agree, is but one aspect of an overall strategy a successful investor needs to develop and become versed in.Buy now here
10. Japanese Candlestick Charting Techniques, Second Edition by Steve Nison
Outline: This volume focuses on Japanese candlestick charts in combination with technical analysis techniques. It shows how the system can be used as part of an enhanced strategy incorporating a range of techniques. it’s one of the best Technical Analysis books on Amazon.
Best For: Those investors interested in Japanese candlestick charts. It is highly recommended for visual learners, as the book contains an abundance of graphs and diagrams.Buy now here
With this broad a range of quality information in book form, an aspiring investor is sure to glean excellent information to assist with their initiation into the world of technical analysis. It could be a smart investment to purchase some or all of them, take the best advice from each, and develop their own custom investing strategy. Be advised, that some of these volumes are priced at over $100. It should also be noted that technical analysis is but one aspect of trading. Money management skills, patience, and the psychological mindset of experienced traders all play into their overall success.