Rating: - Worthless politician talk, with "may" and "might" prefacing all statements
I bought this book thinking that technical analysis might actually have some basis in hard numbers. Unfortunately, that couldn't be farther from the truth. Even in the cherry picked examples for the book there are mixed trading signals on the charts, and Schwager qualifies all statements with a measured amount of uncertainty (you'll become familiar with words and phrases like "can be," "might," "often," "probably").

Like it's always said: "Past gains are no guarantee of future returns." Or in Warren Buffet's words, "I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer." All this book did for me was reaffirm my sneaking suspicion that technical analysis is bogus, and is wrapping what is really just gut instinct in a pseudoscientific name. Since one man's "head and shoulders" is another man's "flag and pennant," it basically boils down to drawing a trend line that you think accurately fits some arbitrary data range, and trading based on that. I don't think technical analysis even has a place combined with fundamental analysis, besides taking advantage of people who set up limits based on these principles.

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Rating: - Will -not- get you started in TA
Quite possibly one of the worst books I've read on TA in some time. As an active trader for the past 15 years who utilizes technical analysis, the entries and descriptions are almost encyclopedic in nature as opposed to explanatory & pragmatic.

Sure, the Author describes what an ascending bull flag is; but then promptly moves on and doesn't explain methods for trading it. This situation repeats itself time & time again; while the author shows retroactive trades based on various patterns, he fails to discuss valid entry points based on probability of success. In addition, -MANY- things are excluded entirely from valid TA (umm... discussions of Volume, momentum, etc... where are they?).

Furthermore, at -every- point in the book, the author is conciliatory in regards to technical analysis; always offering reluctant support for TA while suggesting that quite a lot of people believe it's hokum. While it's great to offer a contrary viewpoint in establishing a kind of rhetorical dialectic, if you're buying the book, you want to know how to successfully trade -utilizing- technical analysis - otherwise, you'd be buying 'Getting Started in Fundamental Analysis'.

Towards the end of the book, the Author insultingly offers the tidbit that he won't be 'revealing' his successful strategies - because they're far too valuable to provide in a paperback book. It was at that moment that I had to stifle the urge to throw the book across the room. You see, there -are- no 'tried and true' 100% salient trading strategies - profitable trading utilizing TA is a combination of talent, experience, judgement, and minimizing losses.

Essentially, this book is an obnoxious, pedantic, and degrading advertisement for his investment fund; which concludes with the Author essentially suggesting that after wasting your time reading it, your money is still best placed in his hands.

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Rating: - Great Book. A keeper.
I am still using the glossary to analyze current market situations even after reading the whole thing. I love schwager's books. The people who are disappointed with using TA are looking for the "holy grail system" of trading and are refusing to become better traders. I believe there is no such thing as a holy grail system, and if there is, its being used by institutions that you can't beat. You just need to learn everything. I would definitely recommend using the techniques in this book when checking out stocks and setting price targets planning entries / exits. The book helps you figure out possible risk/reward ratios when entering a trade and where to put your stops. Jack Schwager's books have done nothing but make me money so far and helped me become a better trader. I do realize you can't rely on TA alone to make your trades, but the amount of knowlege he wrote into this in the back of the book/glossary makes it a quick resource. His section on flags and banners is must read. I feel confident I can handle any stock situation, and thats the point of the book. My goal is to beat the market every month. So far I am up 15% this week after reading the book!

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Rating: - Ease of Use
The book provides excellent technical analysis information for the selection and monitoring of equities and commodities. It is clear and separates the basics from the more detailed expansion of the analysis concept.

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Rating: - Excellent reading for a newcomer
As an experianced trader, I found this book very interesting and gave me a good overview of what technical analysis is. As the title suggests it is for beginners and gave me a good understanding with numerous examples to get the reader to understand the concept on his own. It would have been helpful to have the charts being discussed on the same page. Those expecting a detailed "recipie" on how to trade with technical analysis should not buy this book. As for technical analysis as a tool for trading I have always been a skeptic. This book has not changed my opinon on TA, but the book is an excellent reading.