TA and Indicator Book recommendations?

[Geofract]

Hi Everyone here!

Perhaps I should post this in the Technical Analysis section too, but since I'm interested in spread betting, I'll start here.

I'm just reading Malcolm Pryors book 'The Financial Spread Betting Handbook', which has been a great a place to start for me. He covers some Technical Analysis basics, and Indicators, but now I feel some more in depth explanation would be good.

Since there's a huge amount of books available on TA, it would be great if someone could recommend a book for a newbie - but that goes a little deeper than Mr Pryors book (hopefully someone here has read it, and will understand what level I mean ) - that's probably not so useful if you haven't At the very least, I need something to help me understand the terminology that is used when creating filters for Data Mining.

I had found 'Technical Analysis - plain and simple' by Michael N Kahn - any opinons on that book?

Nice forum BTW cheers

 

[rathcoole_exile]

if it's purely about TA you want then John Murphy's "Technical Analysis of the Financial Markets" is the Bible
if you want a more practical application of TA in terms of trading specific strategies within a coherent plan, then I'd recommend nothing other than John Carter's "Mastering the Trade"

the books by Dr Alexander Elder are good too, but if you only read one TA book in your life, make it Carters.

 

[Geofract]

Thanks Rathcoole,

After reading as many reviews of those books as possible, I'd say they all look like great reads. I might well go for John Murphy's "Technical Analysis of the Financial Markets".

Anyone else with suggestions?

 

[rathcoole_exile]

i've got Murphy as an e-book, but unfortunately it seems to large a file to transfer.
But I can send you the Elder books in e-format if you want ?
PM me .......

 

[Geofract]

Thanks very much for the offer... pm sent.

 

[JTrader]

I couldn't recommend one single TA indicator, so i cannot recommend a book that goes on about them . For me, they just lack consistency and reason (reason for doing A or B at the said moment).

 

[Geofract]

Yes, that's not the first time I've read that.

I was intraday paper trading with live prices, volume, and momentum indicators, and it really helped me a lot. I guess it's just horses for courses as they say.

Still, I have lots to learn, and could yet change my mind on indicators

 

[rathcoole_exile]

JT, although I don't use indicators, other than MACD for Divergence, I still think its a good idea to understand 1) how they work (formulated) and 2) how they are used.
after all, it's usually the indicator based traders who are on the wroong side of the professionals. I think it's important to undertsand the who, what and why, even if it's so they can either be discarded or even faded

as an example - consider the little-mentioned Stochastic "Pop" method which actually Buys just when Stochs move into OverBought and the amateurs all suddenly try to sell.
similar with the CCI method, I forget the name and precise details, that go Long whenever CCI 14 and CCI 50 both cross into OB.
I'm not advocating either of those particular strategies, but what they do have in common, is taking advantage of some of the mis-conceptions of indiactor-users about OB & OS

garry