Rating: 
- Great Book for anyone interested in stock market trends
I'm a beginer in Technical Analysis and have bought several other books.. Until I picked up this book I was completely clueless as where to start.. I'm only on the 6th chapter (plus I've skimmed though other chapters that interested me) and I can safely say this was the best investment I've made for books on Technical Analysis..
It's not over opinionated it seems to go directly into the theory of Tech. Analysis (but it 1st teaches you about the Dow Theory -- don't skip this).. It is technical but is definatly a good book for a begining tech like me.. So far I have a much better understanding of bull /bear markets, appying the dow theory to the general market, and how to apply tech. analysis to individual stocks (just reading that now in chap. 6). I plan on reading this book 3 times and my other tech. analysis books are on the shelf for now..
I hate to write this review before I've finished reading it completly but I've already benifited and that in itself is worth the price of the book..
*Well written
*In good sequence to develope understanding of and applying trends & tech. analysis to the market and stocks
*Top quality subject material
Rating: - The best way to understand the basic price action/chart
This is a technical analysis book, focus on price pattern. If you are looking for RSI, MACD, etc, look else where. This book covers topics such as Symmetric Triangle, Gaps, Resist/support, etc. They are very detailed and I definitely learn a lot from this book.
If you want to buy this book, my advice is to buy an earlier edition (5th). The additional chatpers written by Bassetti simply doesn't match the quality of Edwards and Magee. For example, he uses internet stocks, such as Amazon or Cisco, to illustrate his point of dramatic/speculative crash. However, he uses charts which are unadjusted for split. If Amazon split 3-1, then there will be a big gap. The gap doesn't mean anything technically. He devotes an entire chatper to discuss false gaps like that! Very disturbing and unintelligent.
The original writers aer superb though. I strongly recommand this book for people who wants to learn the price pattern/action. If John Murphy's book is like an encyclopedia of Technical Analysis, then this book focus mainly on the subject of price pattern.
Rating:
- Definitely a classic, but not one in the top "buy" list
Written in the 20's, this book is at least five decades ahead of its time, discussing detailedly about Dow Theory, chart patterns, volume, support and resistance etc in the demand and supply context, at a time whilst most people focused solely on company/accounting data specific fundamental analysis. However, though market psychology doesnt change, technology and the speed and means of information distribution do, leading to shorter business cycles and thus trends, inevitably attacking the weakest link of the Dow Theory which is that confirmation of the primary and long term trend almost always come too late. The situation is even worse in that "traps" in trend following are so frequent in today's highly competitive market when power traders with the help of deteriatives fully exploit the stop loss orders of mass investors.
I dont mean to undermine the value of this book. Nevertheless, considering the high price of the book and the long time to read it through, there are many alternatives that cover TA wider and deeper. This book can be a very exhaustive reference book in chart patterns. It just cannot provide a compeat course on TA. The new appendix of MACD, Stochastics etc is adequate but far from sufficient. Afterall, TA is just a tool for money making. There's no point not to take a more productive route to achieve the goal.
Rating:
- Was the classic until re-release of Schabacker's book
Excellent book on TA, and this edition improves on prior one (not just because I get an acknowledgement in it). Spectacular description of Dow Theory. Uneven in more modern updates for indicators and such. Pattern descriptions second only to Schabacker's book.
Many people consider this book to be a classic. I honestly think the book by Bruce Kamich, "How Technical Analysis Works" or John Murphy's "Technical Analysis of the Financial Markets" are better choices for the beginning student. This is largely because the treatment of indicators and more modern topics - added after the original authors wrote the book - are grafted on, and though the editor has tried very hard, these items belong in another volume we they can be treated in a more complete and modern manner.
Rating: - No way, Wei
In a book of 700 pages and 300 + charts it is (regrettably) to be expected that some data errors will occur. Wei has accurately pointed out data errors in some of these in charts. (charts which had already been identified and revised for the next edition). But Wei strains at gnats and swallows elephants.
I looked in vain for the chapter he describes on false gaps, and finally realized that he was describing Chapter 28 and had missed the point of it. Niggling details he has caught, and wrongly construed the chapter in question. (The "most unintelligent" Number 28, I eventually decided after deciphering his puzzling description of the offending chapter). I must say it is bemusing to have your intelligence impugned by one who, evidently, barely speaks or can write English.
This is not the only elephant Mr Wei swallows. He recommends that the reader of his review buy the 5th edition since the new material is "unintelligent". In this statement he displays abysmal ignorance on the subject of editions of Technical Analysis of Stock Trends. Here is an example: (from the 5th edition, p. 270) "We cannot trade in the Averages. ... " To preserve this archaisism (silently excised in the 8th Edition, but lovingly preserved in the 5th 6th and 7th editions) is to misinform the reader, as Wei has done in advising the reader of his review to buy the 5th Edition. Hundreds of hours went into the revision of this book, many of them removing misleading and obsolete statements like this. To have a casual and evidently unqualified reviewer throw the baby out with the bath would be frustrating if any one naively accepted the uninformed review of a computer game addict. In sum, no way, Wei.
... W.H.C. Bassetti
- Great Book for anyone interested in stock market trendsI'm a beginer in Technical Analysis and have bought several other books.. Until I picked up this book I was completely clueless as where to start.. I'm only on the 6th chapter (plus I've skimmed though other chapters that interested me) and I can safely say this was the best investment I've made for books on Technical Analysis..
It's not over opinionated it seems to go directly into the theory of Tech. Analysis (but it 1st teaches you about the Dow Theory -- don't skip this).. It is technical but is definatly a good book for a begining tech like me.. So far I have a much better understanding of bull /bear markets, appying the dow theory to the general market, and how to apply tech. analysis to individual stocks (just reading that now in chap. 6). I plan on reading this book 3 times and my other tech. analysis books are on the shelf for now..
I hate to write this review before I've finished reading it completly but I've already benifited and that in itself is worth the price of the book..
*Well written
*In good sequence to develope understanding of and applying trends & tech. analysis to the market and stocks
*Top quality subject material
Rating:
- The best way to understand the basic price action/chartThis is a technical analysis book, focus on price pattern. If you are looking for RSI, MACD, etc, look else where. This book covers topics such as Symmetric Triangle, Gaps, Resist/support, etc. They are very detailed and I definitely learn a lot from this book.
If you want to buy this book, my advice is to buy an earlier edition (5th). The additional chatpers written by Bassetti simply doesn't match the quality of Edwards and Magee. For example, he uses internet stocks, such as Amazon or Cisco, to illustrate his point of dramatic/speculative crash. However, he uses charts which are unadjusted for split. If Amazon split 3-1, then there will be a big gap. The gap doesn't mean anything technically. He devotes an entire chatper to discuss false gaps like that! Very disturbing and unintelligent.
The original writers aer superb though. I strongly recommand this book for people who wants to learn the price pattern/action. If John Murphy's book is like an encyclopedia of Technical Analysis, then this book focus mainly on the subject of price pattern.
Rating:
- Definitely a classic, but not one in the top "buy" listWritten in the 20's, this book is at least five decades ahead of its time, discussing detailedly about Dow Theory, chart patterns, volume, support and resistance etc in the demand and supply context, at a time whilst most people focused solely on company/accounting data specific fundamental analysis. However, though market psychology doesnt change, technology and the speed and means of information distribution do, leading to shorter business cycles and thus trends, inevitably attacking the weakest link of the Dow Theory which is that confirmation of the primary and long term trend almost always come too late. The situation is even worse in that "traps" in trend following are so frequent in today's highly competitive market when power traders with the help of deteriatives fully exploit the stop loss orders of mass investors.
I dont mean to undermine the value of this book. Nevertheless, considering the high price of the book and the long time to read it through, there are many alternatives that cover TA wider and deeper. This book can be a very exhaustive reference book in chart patterns. It just cannot provide a compeat course on TA. The new appendix of MACD, Stochastics etc is adequate but far from sufficient. Afterall, TA is just a tool for money making. There's no point not to take a more productive route to achieve the goal.
Rating:
- Was the classic until re-release of Schabacker's bookExcellent book on TA, and this edition improves on prior one (not just because I get an acknowledgement in it). Spectacular description of Dow Theory. Uneven in more modern updates for indicators and such. Pattern descriptions second only to Schabacker's book.
Many people consider this book to be a classic. I honestly think the book by Bruce Kamich, "How Technical Analysis Works" or John Murphy's "Technical Analysis of the Financial Markets" are better choices for the beginning student. This is largely because the treatment of indicators and more modern topics - added after the original authors wrote the book - are grafted on, and though the editor has tried very hard, these items belong in another volume we they can be treated in a more complete and modern manner.
Rating:
- No way, WeiIn a book of 700 pages and 300 + charts it is (regrettably) to be expected that some data errors will occur. Wei has accurately pointed out data errors in some of these in charts. (charts which had already been identified and revised for the next edition). But Wei strains at gnats and swallows elephants.
I looked in vain for the chapter he describes on false gaps, and finally realized that he was describing Chapter 28 and had missed the point of it. Niggling details he has caught, and wrongly construed the chapter in question. (The "most unintelligent" Number 28, I eventually decided after deciphering his puzzling description of the offending chapter). I must say it is bemusing to have your intelligence impugned by one who, evidently, barely speaks or can write English.
This is not the only elephant Mr Wei swallows. He recommends that the reader of his review buy the 5th edition since the new material is "unintelligent". In this statement he displays abysmal ignorance on the subject of editions of Technical Analysis of Stock Trends. Here is an example: (from the 5th edition, p. 270) "We cannot trade in the Averages. ... " To preserve this archaisism (silently excised in the 8th Edition, but lovingly preserved in the 5th 6th and 7th editions) is to misinform the reader, as Wei has done in advising the reader of his review to buy the 5th Edition. Hundreds of hours went into the revision of this book, many of them removing misleading and obsolete statements like this. To have a casual and evidently unqualified reviewer throw the baby out with the bath would be frustrating if any one naively accepted the uninformed review of a computer game addict. In sum, no way, Wei.
... W.H.C. Bassetti