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Technical traders utilize past trading data (usually price and volume) patterns to forecast the future of the stocks. They do so by using behavioral economics for better performance/growth and thorough statistical analysis.
Understanding technical strategies can do wonders for you in trading. If you are a beginner, read these books to get a better idea of the same:
Getting Started in Technical Analysis (Jack Schwager)
Jack Schwager is one of the most popular traders and authors in America. His book Getting Started in Technical Analysis is a blessing for all investors who want to know crucial aspects of technical analysis as a beginner.
From trading ranges to entry/exits, the book covers them all. Also, the examples and explanations are quite precisely mentioned, so you can get a better grasp of everything.
In this exclusive book, you’ll also find thorough details about charts-bar types, Candlestick, trading approaches, risk control strategies, tips on establishing a trading routine, etc. As investor’s day is around the corner, you can gift this book to your mentor on a special occasion.
Speaking of investors day, if you’re from the UK, you can also attend an investor day special event by Molten Ventures plc to grasp technological trends and key advancements in the sector.
Technical Analysis of the Financial Markets (John Murphy)
If you want a book that covers everything about the financial market, you must read Technical Analysis of the Financial Markets by John Murphy. The outstanding write-up covers different concepts of technical analysis along with their applications in the market. You’ll also find information about the latest technological development, tools, Candlestick charting, stock rotation, etc.
The iconic book also covers the basics like chart reading, the role of technical analysis in investing, understanding indicators, etc. It’s worth reading the book if you want to evaluate and stay on track with the market trend in the coming time.
Japanese Candlestick Charting Techniques (Steve Nison)
The Japanese Candlestick is a type of technical analysis tool that helps investors to describe the price movement of any security. And that’s exactly what this book covers in detail. The Japanese Candlestick Charting Techniques by Steve Nison features in-depth information about how Japanese Candlesticks can be useful in trading with other technical tools.
It also covers the basics of the Candlestick method, with examples that show how Candlestick charting techniques work in general in the market. Combine this book with the best forex brokers for users from the UK, and you can ace the forex trading in the country.
Technical Analysis Explained (Martin Pring)
Technical Analysis Explained by Martin Pring is a godsend for investors who want to conquer the trading world. It has been read by several professional investors to understand and interpret relevant moves in the market. Not only does it cover the core concept of technical analysis but also other topics like trading psychology.
The best thing about the book is its easy-to-read language, so you wouldn’t face any issues in understanding the explanations. It’ll teach you some effective ways to achieve profits in the current complex market.
Technical Analysis Using Multiple Timeframes (Brian Shannon)
Technical Analysis on Multiple Frames by Brian Shanon is another classic that can help you to understand the market structure and core concepts of technical analysis. As the name suggests, it’s a complete coverage of how you can apply technical analysis in multiple timeframes.
This book will teach you how to try established trends and earn high profits through the same. You’ll also be able to learn other things, including tips to identify costly emotional decisions, strategies for entering/exiting long and short trades, profit potential estimation, psychology of price movement, etc.
Market Wizards: Interviews with Top Traders ( Jack D. Schwager)
Author Jack D. Schwager interviewed several traders and came up with this absolute classic that features the responses and opinions of professionals about the market.
Ofcourse, the traders’ responses to the questions weren’t all the same, but ultimately, every trader summed up their trading success to two things. That is a good methodology and mental attitude. Read through this book for an experience like never before.
Have you read any of these trading books yet? If not, then get them today. It works as a magical potion for all the market wizards out there.
