The Good: May be worth something for a beginner who wants to know what Technical Analysis is about.
The Bad: No in depth view of anything.
My Advice: Go to the library before buying. In one or two hours you would have read all (if anything) that is worth in this self called "Bible". No need to buy.

A must read. Technical Analysis is the heart and sole of my trading style, it doesn't always work but it sure works enough of the time to make very profitable trades. If you trade on T/A, this book is a must.

David Colletti
Founder
StockTradersHQ.com

good book, clear and thorough, amazon did a good job with the delivery too, it was sent earlier than the expected delivery date, and that is to Kuala Lumpur, MY

After reading a number of books on the subject, the presentation of information in this book appears to be the most comprehensive and well explained. This is the one technical analysis 'encyclopedia' to refer to. (One negative comment - I'll have to agree with another reviewer that the creaky binding does not suit the high quality of the book's contents.)

With both Burton Malkiel's A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition and John J. Murphy's Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance), I figure I've got a good balance in my reading 'portfolio'. These are two excellent books from each side of the investing coin.

The good: Dow Theory, Major Reversal Patterns, Continuation
Patterns, Basic Concepts of a trend are problably the good
part of this book.

The bad: The section(s) on indicators and oscillators was
too brief for any reader to learn enough to trade.
I nearly wanted
to put this book aside when I started reading the part on
indicators and oscillators.

Quite a thick book with large wordings which I desire.
Have not finished yet. Being a thick book, there's bound to be something you find useful.

Join discussion on Technical Analysis at http://www.amazon.com/tag/technical%20analysis/forum/ref=cm_cd_et_up_redir?%5Fencoding=UTF8&cdForum=FxQB09HXVN3124&cdPage=1&cdThread=TxXFWHUP6U0IOB&newContentID=Mx2WCANUWZXM91R#Mx28C8HVNH80MA0

The good: Dow Theory, Major Reversal Patterns, Continuation
Patterns, Basic Concepts of a trend are problably the good
part of this book.

The bad: The section(s) on indicators and oscillators was
too brief for any reader to learn enough to trade.
I nearly wanted
to put this book aside when I started reading the part on
indicators and oscillators.


Quite a thick book with large wordings which I desire.
Have not finished yet.

I think this book should be the first book any aspiring technical analyst ever reads on the subject. The author covers the material in a good manner, sometimes too good, because he repeats himself and covers the same idea over and over again. Which is not necessarily bad, because repetition will cause you to remember the material. The book is written in a very easy to read format, it doesn't feel overly technical, which is weird for a technical book???

I know there are many that do not believe technical analysis is valid. They say it is based on what happened already and that it cannot predict the future. They say it is not 100% accurate. Well neither is the weatherman on my news channel each night. He bases his analysis on data that has already happened, and he is not 100% accurate either. All I know is I have used technical analysis and I have made lots of money with it. So I am a believer.

This book covers chart patterns, trends, oscillators, etc. The author explains them in detail, along with how they are generated, and how to use them for trading. None of them are 100% accurate to predict what is going to happen tomorrow. But thats ok because trading is a game of probabilities. You only need a slight probabilistic edge, along with good money management, risk control, and an unwavering trading plan to be very profitable.

Learn the basics from this book so you feel comfortable when you encounter them. Understand what they are telling you. Then you can start to formulate your edge and start trading your system.

I am a newbie to technical analysis. Mr. Murphy's book explained a lot of the concepts in a way that I believe I can build a trading system that will make me more money than the "buy-and-hold" approach so much advocated by the popular media. I highly recommend it to newbies like me and even some intermediate folks.

A classic book, which simply contain all about technical analysis in a very simplified and glass-clear way. Read, analyse the charts and go!
I have been advised to read the book for a thorough informations about technical analysis and I found it right there. All of it!

This book is great for all the reasons everyone else listed; however, my complaint is that I bought the book brand-new, and the binding is really cheap, so it's already falling apart after few uses. If you're paying more than $50 for a book, it ought to be made better!

"Technical analysis of the Financial Markets" by John J. Murphy is an incredibly complete introduction to the world of technical analysis. From the outset, it is clear that Murphy has a predisposed bias towards the use of technical analysis (herein TA) leading to a successful and profitable career as a trader. However, it is also true that the author has a unique understanding of the subject, and moreover, is capable of sharing that with his readers in a very systematic and easy-to-understand manner. This is undoubtedly an excellent primer for someone looking to become proficient in TA.

I must say that I am solely concerned with trading the currency markets, and that prior to reading this book had but a novice understanding of how forex actually works. Everything Murphy discusses here is applicable to my area of interest, sans exception, whether that be directly or indirectly. I presume it is similar with other markets as well.
The concepts that Murphy addresses seem to be very traditional from a TA point of view. He does not present anything revolutionary, but in a sense, the fact that the book is so classic in its methods, yet contemporary in its application is revolutionary in itself. I believe he covers basically all basic-intermediate tools available, from support and resistance lines, to Wilder's RSI and Parabolic SAR, and candlestick analysis. I feel that if one was to read specific books on each of the major topics Murphy addresses than that would be adequate for them to apply TA confidently, and be able to profit consistently from the markets. The book as a standalone is not enough. Moreover, it does not discuss fundamental economic analysis of the markets, which I personally feel is important for attaining a gauge as to how the markets are performing long-term and what investor sentiment is like.

Regardless of all the critique I have mentioned, this book is incredibly well-written, and presented, and covers all the major ideas in technical analysis to a level that allows the reader to know what he is doing, when actually doing it.

Definitely 5 out 5 stars.

Very nice book, contained a lot of useful knowledge, written in understandable for not expirienced person lanquage, not boring at all

I wanted to understand technical market analysis techniques just over a year ago. As a computer programmer I was looking for a source that would explain all the various technical indicators out there. This book fits that need perfectly. I use this book constantly as a reference when developing programs to scan markets for entry and exit signals.

This is not a "get rich quick" on the stock market book. This is more an encyclopedia of technical analysis tools. There is a lot of talk about theory in this book and it may put off people looking for a simple way to start trading. Each tool is discussed in terms of how it functions in detail as well as it's the pros and cons.

For those who want to develop their own system of technical alerts this book will be a gold mine of information. Over the last 6 months I have come to better understand market indicators thanks to this book. If you serious about understanding technical market analysis you need to have this book.

This is an excellent book for a non-professional online investor. It helps you orient yourself to market trends by explaining how to interpt technical charts and what the significant changes in tecnical charts means in predicting a single stock or general market trend. It is easy to understand for the non-technical investor. Was recommended to me by a stock broker and worth the cost of the text.

The day when you truly understand 80% of the contents of this book is the moment of milestone of your trading career. As you progress in your trading career, check back with this book to determine how much you have learn. This book is the pivotal standard of all technical traders.

Okay, this is the 101 of technical analysis. I've heard from people that some vendors are charging thousands teaching materials that are covered by this book. This book is a good first step, and almost a must for every trader. Lot's of info on basic technical analysis, basic, but it's the foundation of most traders rather you're fundamentalist, technician, or chartist. Just grab it!

I bought a number of similar books recently. I think this one is the best so far. Clearly written. Easy to understand. Very good for beginners.

This is an excellent book for someone who knows their market basics, and perhaps a little technical analysis, and wants to move toward a more intermediate level in the subject. The book is extremely clear, well-written, and balanced in its coverage. In a field with much poor writing and extravagant claims it's almost a joy to read (if one is so inclined). It was easy to spend the better part of an evening getting through 100 or more pages without getting confused or bogged down, or feeling like it was hard work. I found most all of it very thought provoking.

While the book basically focuses on trend-following techniques -- about which I have many reservations -- the book also covers numerous contrarian tools as a way to time an entry into the predominant trend during a shorter-term pause/pull-back/consolidation period. The emphasis is as much on charting techniques as on strictly numerical indicators, and Murphy is probably at his best in explaining how best to use this or that item in the toolbox to ones advantage and what its limitations are and what can go wrong. The overall tone is very solid and realistic. I especially liked his clear exposition of the important differences between the futures/commodities markets (where many of these techniques originated) and the stock market.

I'm marking it down one tick for a couple of reasons. First, I would have liked more quantitative depth; qualitative discussions such as this can only take one so far toward actual applications. Second, there's virtually nothing here on options and their effects on the markets; the same could be said about computerized trading systems (some coverage but not nearly enough). Third, there were a couple of glaring ommisions: in talking about saucer bottoms he doesn't mention the well-known tea-cup-with-handle formation even though the handle shows clearly on the chart he uses to illustrate it; when talking about simple moving averages he neglects to mention the important "box-car" effect of big changes moving out the tail end of the averaging period; and while Wilder's RSI gets plenty of good coverage the recipe for it he gives is a bit misleading in that it only allows one to construct the first value, not any subsequent values. And, fourth, I think he gives period analysis and Elliott wave theory more attention than is deserved and never mentions the application of Fourier techniques in this arena; I could say much the same with regard to ideas based on Fibonacci numbers (perhaps I'm yet unconvinced in these areas). So the book could have been better in some places.

For their historical significance I especially liked all the charts from the 1997-9 time period which show things in the glory days just before the top of the market bubble in 2000: Intel at $100 ($20 today), Bristol Meyers at $95 ($20-25 today), crude oil at $16, etc. [I was trading Micron (pg 127) actively during the period when it spiked to $60 ($12-13 recently) and remember those days well]. So the many charts used to illustrate various things were a bonus to me, though they remind me there was no mention of market manias and how to correctly read extremes and their subsequent breakdowns. Perhaps it would have been asking too much for a closing chapter prognosticating the future as he saw it then, though it would have been interesting had he thought to write such a chapter. This is still a very good book for what it is. 4+ stars.

With all the good reviews on Amazon, I thought this book must have something new or different to offer but it doesn't. I've read more useful, less bulky and cheaper books on technical analysis than this. However, students might find this book useful, but examples are basic, often drawn by the author while real samples have been carefully selected and readers might be misled into thinking technical analysis is easy.

I've worked as an equity trader for more than two years and I found nothing revealing in this book. In fact the first half of the book deals with such simple issues as drawing lines under the low points of a share price, share prices falling below the trend line (sell the stock), similarly, it talks about breakouts, and high volume key reversals. Any active trader would have figured most of this information out from common chatter between colleagues or friends, or by themselves without the need of any book. As for the summary chapters on Japanese candlesticks and other theories there's not enough detail to make it worthwhile and similar summaries are widely available in other books for far less money.

I suggest beginners take a closer look at something less bulky while anyone with experience should definately avoid this book.

I found this is not really the book to read from cover to cover in one go, but more a reference book to give you an overview of many different methods of technical analysis. I have kept it by my computer for months now and every time I come accross a new indicator or analysis concept I happily refer to it.
It has been a great resource for me.

I dont know how this book only has a 4.5 star rating. I have read many technical books and this one is the best by far. If your serious about technical trading you absolutely need this book.

Have you decided that it is time that you understood what this market analysis stuff called "Technical Analysis" is all about? Then you should start with this book by John Murphy. Is it the best book on TA? It's certainly in the top three, and written by a man who has worked hard to educate people on charting, trendlines, indicators, systems, oscillators, etc.

Will you immediately become a successful trader by reading this book? Let's just say you have a heck of lot better chance at being a successful trader if you read, study, and integrate into your market research process what this book teaches.

If you are only interested in long-term investing, you probably don't need this or any of the other Technical Analysis books. But, if you want to trade on a daily, weekly or perhaps even monthly basis, you would be well served to read this book so that you at least understand what factors and indicators other people in the marketplace are watching -- people against whom you will be competing for profits.

I've purchased this TA text book two years ago and it was my first book that introduced me in detail into technical analysis. I knew before buying this text how was the argument between technical and fundamental analysts. what i was looking for inside this book infact was written inside page 455: "Despite the fact that technicians and fundamentalists are often at odds with one another, there are ways they can work together for mutual benefits. Market analysis can be approached from either direction... etc. " infact i personally was looking for something like what Mr.John says and fortunately i found technical analysis to be a very powerful tool for either predicting and/or following trends behavior in a way or another and if technical analysis can be mixed with some of trading discipline and non-emotional beahvior that would make you
a high pobabaility winning trader, and if you'd combining this to some of fundamentals definitly you will be 99% succeding in the stock market. Am sorry if i missed something, final point this book will be a good start or covering some gaps in technical analysis. am from Kuwait and was trading in KUWAIT STOCK EXCHANGE and got to said TA worked very very well with me during past two years and i hope i will use it again with the next stock market which will be STOCK MARKET OF INDIA.

This is an all around good book to have in your library, although it's not as comprehensive as some others such as "Technical Analysis of Stock Trends" 8th edition.

This book has very basic information in it for newbies and progressively gets harder for the more experienced; it's definitely worth a read. I'd probably read newer stuff before this, however, because the latest version is from 1999. Psychology doesn't change much but technology does. I'm looking forward to another revised edition.

It is entirely possible to spend more time reading trading books than doing any actual trading. This is one of the few books that will remain on my bookshelf and I highly recommend it FOR WHAT IT IS INTENDED - an excellent reference on technical analysis (TA).

What I was looking for was something to provide clear, concise descriptions on various technical indicators across all types - trend analysis, price patterns, candles, oscillators, etc. And Murphy not only does this well, but his work provides enough information that I do not see the need for another book on TA on my bookshelf, even though I know that other very good books are available (e.g. Pring). But this one is enough for me. It is well organized and indexed so that I can rapidly look up something while I am setting up trades and get the basic info that I need.

One surprise was how well written the book was and how much I enjoyed reading it. I expected a dry reference book but instead found an excellent and engaging read, perhaps with the exception of the chapter on point and figure which was not up to the rest of the book. (If you are completely new to TA, you might find it less entertaining, but in comparison to the dry tome that I expected when the monster-sized book arrived, Murphy is remarkable in his ability to convert most TA topics and examples into 'normal' English.) He also is not a proponent or zealot about any one indicator type, which I appreciate. He does a good job of describing each within the context of its value without trying to convert anyone to any specific indicator. As I do not believe in magic bullets in trading, I appreciate his straightforward approach.

Let me also note what this book is NOT so that you do not buy it for the wrong reasons:

a) As you should gather from the above, this is not a trading system. Murphy will not tell you which indicators to use most or in which combinations to produce the best results. He will provide insight into many indicators and classes of indicators but he is NOT trying to convince you to use any specific indicator in any specific way. So he doesn't try to convince you of WHAT to use, just helps you understand WHEN, WHY and HOW each indicator type is used by various traders.

b) Also, this is NOT intended to be the complete, in depth statement on any of the topics covered. For example, his section on Candlestick formations is simple, clear and includes many examples, but it is undoubtedly not the same as picking up Nison's works on Candlesticks. Similarly, you can find many books dedicated to Elliot Waves, Fibonaccis and other topics. Murphy provides the basics, but do not expect as thorough an explanation or justification as a dedicated book would provide. Then again, expect a dedicated book to try and convince you why its particular system or method is so much better than any other, something that Murphey will not try to do to you!

c) Finally, this book is NOT intended to convert people who do not accept TA into believers. Frankly, it is much easier to get most people to accept that `fundamental analysis' affects a stock's value and price, but it is harder for most to understand and accept that simply analyzing the stock's price and related indicators can predict future moves. Murphy's opening chapters include some simple basic background on TA, but verbal explanations have limited value in convincing a pure `fundamentalist' that properly used technical analysis works. The only way to break down this barrier, IMO, is simply to learn and use various indicators for a while to begin seeing how predictive they can be. Murphy does not try to convert - he simply provides a learning reference. From there, anyone using TA needs to practice to become proficient.

So, in summary, I highly recommend buying this book for what it is intended to be - a reference book on technical analysis. It does this job excellently.

This easy reading book does a very good job of outlining well-known technical analysis techniques. Though the book should help you identify a chart pattern as it is forming, it does not give you any indication of the probability of completing its pattern.

I bought this book hoping to learn more about technical analysis and charting patterns. Well, the book delivered and then some. The book is a great reference tool.

This is the authoritative reference for Technical Analysis and should be in the toolbox of every technical trader, and the non-technical traders could benefit from it as well. Like a dictionary, it's something you should keep handy in your office.

For beginners, however, there is a lot of information that will be hard to distill. You'll be introduced to a bewildering array of patterns, oscillators, and indicators, and be faced with a confusing complexity of choices about when to use what. There isn't a lot about strategy; he introduces the tools, and leaves the rest up to you. What the book book contains about the psychological underpinnings of technical analysis is intriguing, but there ain't much -- just a couple of paragraphs!

Again: this book's value is as a REFERENCE. Don't base your strategies on it necessarily, but use it to supplement books by people like Dave Landry or Toni Turner. But for any trader John Murphy's book is a must-have; no question about it.

This book should be used as a reference for every investor. It covers pretty much all the technical indicators in a clear straight forward way. I constantly refer back to this book when using charts to research stocks. The book is well written and easy to understand, it's over 500 pages of solid information no BS. If I could only buy 2 books about investing I would definitely buy this one for technical indicators and another one about psychology of trading.

Murphy's book is the best comprehensive overview of its kind. It is the first book I open when writing or preparing a presentation on the subject.

Murphy's tome on technical analysis is rqeuired reading for any practioner in the financial markets. As a professional trader, I constantly refer to the book for soldifying core technical and trading tactics. A true gem of a work.

thorough and complete, the reader is left believing that upon completion they have seen and learned all there is to be known about charting.

a bible of technical analysis (if you're a believer). i cannot recommend it highly enough.

This is a great book on technical analysis. The fundamentals are all here from pattern recognition to indicators. TA is essential anyone who wants better entries and exits on stocks and other financial instruments. This is the building block to using trading strategies to win in both bull and bear markets. For actually trading strategies, I recommend Dave Landry on Swing Trading or Street Smarts, but this book is the perfect start.

As a well-respected technical analyst with 30+ years experience, there are few markets John Murphy has not seen. The difference between him and most other analysts is that he has documented them as they happened through his Murphy Market Message Newsletter. It is easy to look at a chart in hindsight and perform rear-view mirror analysis. Anyone can do that. What is more interesting is reading commentary from experts while the market is unfolding which is what Murphy does a number of times every week. His books are peppered with examples of market moves and quotes from his newsletter analyzing the move as it happened which makes reading his books all the more interesting.

As someone who basically introduced intermarket analysis to the broad technical analysis community, John has watched markets move one another since the late 1970s and documented the whys and whatfores and then carefully recorded his thoughts for the benefit of the rest of us.

Technical Analysis of the Financial Markets is without a doubt one of the best introductions and general discussions of technical analysis on the market today. It has been recognized by the Market Technicians Association and International Federation of Technical Analysts as such and is required reading for both the Chartered Market Technicians designation from the MTA and the Diploma of International Technical Analysis by IFTA. In fact, their required reading lists are great places to get ideas on which books the professionals are reading!

But it is a book that is not only for those new to trading and technical analysis. It is for everyone and anyone dedicated to improving their investment or trading returns by getting the right information direct from the source. It is a book I have read multiple times and will read again this year. It's well-written and an enjoyable read. It is also a book you won't get tired of reading over again and one that you will find a very useful reference. There is very little to complain about except that I wish it was longer. Then again I can't really complain with over 500 pages of great information and charts.

Matt Blackman - Technical Writer/Reviewer Email: matt@tradesystemguru.com
---------------------------------------------------------------
Contributor to Stocks & Commodities Magazine, Working Money, Traders.com Advantage, Active Trader, Traders Mag (Europe) and SFO Magazine

Very good compilation of decriptions on the subject. Will not give you any original idea, and unlikely any tradable idea.

The language used in this book is A-ok. Murphy knows how to teach you something instead of just telling you some vague rules now and then.
If all the information out there (of which 98% is crap) discourages you, you need to buy this book along with some Tharp-books and a book that covers the more practical side of stock selling. Some simple things, if I remember well, are not really explained , such as the short selling principle.

You might prefer another intro-book along with it.

In short: worth the money.

The language used in this book A-ok. Also, Murphy knows how to teach you something instead of just telling you some vague rules now and then.
I'm starting to feel far more confident using my trading system after reading this book. If all the information out there (of which 98% is crap) discourages you, you need to buy this book along with some Tharp-books and a book that covers the more practical side of stock selling. Some simple things, if I remember well, are not really explained , such as the short selling principle.

One small thing, luckily as a business economist I know most market principles and easily recognise them, while murphy assumes a bit everyone is educated in economic laws.
You might prefer another intro-book along with it.

A detail, it's font is quite big en that's something I like, it gives me the idea I'm not reading one of those old small font yellow papered books that ruin your eyes, you know?
In short: worth the money.

The language used in this book is A-ok. Murphy knows how to teach you something instead of just telling you some vague rules now and then.
I'm starting to feel far more confident using my trading system after reading this book. If all the information out there (of which 98% is crap) discourages you, you need to buy this book along with some Tharp-books and a book that covers the more practical side of stock selling. Some simple things, if I remember well, are not really explained , such as the short selling principle.

One small thing, luckily as a business economist I know most market principles and easily recognise them, while murphy assumes a bit everyone is educated in economic laws.
You might prefer another intro-book along with it.

A detail, it's font is quite big en that's something I like, it gives me the idea I'm not reading one of those old small font yellow papered books that ruin your eyes, you know?
In short: worth the money.

This books details the basics of technical analysis fairly well. It focuses on chart patterns fairly extensively, but also deals with numerical methods, and other methods some basic books dont cover (point and figure and elliot wave, specifically). The coverage in any one area is not exhaustive, but it is reasonable.

There is some criticism that the question of 'does technical analysis work' is not answered. This is true, and i'm thankful for it; rehashing age old arguments isn't fit for a book of this nature. Most of the evidence suggests technically based methods are about the same as market returns -- but with significantly less volatility. That is, on a risk adjusted basis, they outperform.

This is a recommended book to start your learning process. Not all of it is good, and it should not be taken on face value, but a basic understanding of TA can be very useful. I'd read this after you read a Tharp or Elder, as Murphy does not deal too extensively with risk management, except in very general ways near the end of the book.

This is an excellent book for anyone who is planning to start trading seriously as well as for those who are completely confused with trading. John Murphy consolidated all what is needed for understanding the underlying structure and psychology of the financial markets. The most what I liked about this book is how John reflects on and stresses the importance of trend in the financial markets. I used his book to trade in the FOREX Market - it works great. While not going into nuts and bolts of technical analysis, he embraces all major point in an easy and accessible language. Consider, however, that this book does not cover in great detail any specific technical indicator or oscillator. In conclusion, this book would be also useful for those who need to round up their knowledge and see a bigger picture.

This book is excellent and I woul recommend it to anyone willing to learn about tech analysis, especially if you are complete new to this subject.

If you are no novice to this subject. It still can be a good thing to read this book and see what the writers view on technical analysis is and how he uses it to help him make right decisions.

Language used in this book is very easy so even if your English is not perfect you still can understand what the writer is saying.

In this book you will also find a recomendation list of books that specifies only on one technical analysis, for example a book about Point and Figure Chart. This is very helpful if you want to go deeper in to the subject of your interest.

Conclusion I give this book 5 stars because it gives you a good explanation how tech analysis works in understandable English.

This is one of the most comprehensive Books I have come across in my 5 years of trading. While most PM do not buy into technical analysis schemes publicly, they most certainly do privately. I have used many of the techniques presented in this book and have been reasonably happy. The only warning I can offer is that the trader needs to understand when a persistent tend is done.

Covers almost everything. I rank it up there with Bruce Kamich's more recent tome. He even does a good job with Elliott Wave Theory, which is none too easy. There is also a good study guide that goes with it. Good discussions on patterns, and he also covers indicators and even technical systems very well. A top beginner's book. I used it when I taught technical analysis.

As a professional marketmaker I always traded on my feelings. Short time ago, I decided that is might be useful to learn more about TA. I bought this book. It is very easy to read, and contains a lot valuable of information. It's both useful for 'starters' and 'profs'. Really good!!

When they say this is the bible of technical analysis, this is quite literally so. The Market Technicians Association (mta.org) recommends this Murphy tome or "Technical Analysis Explained" by Pring.

If you are serious about TA, then you'll need either of these two TA bibles in order to become a MTA professionally certified TA "chartist". Before diving in, please first ponder if the professional securities trading associations are correct, then there are only about 5000 full-time day traders in the USA. Out of the minions of 8 million "day traders", are the statistical odds against your own full-time success?

If you can identify the difference between a hedge fund from a mutual fund, then you might be savvy enough to cut the mustard.
If not, then I would start with "The Fundamentals of Investment" which makes the Murphy book look like a real bargain. At least that recommended textbook will focus your thoughts on what is truly right for you.

Can you grasp the essence of statistics? For example, does the inverse relationship between interest rates and price earnings ratios excite your bottom line of probabilities?

If not, then you should probably take a college-level statistics class (ie. sociological statistics, political statistics, or business statistics). This basic foundation should bring the Murphy book into a much better focus of your profitable ambition.
You will be able to more fully appreciate any group psychology, social dynamics of inferential statistical analysis and that TA toolbox in Murphy's book.

If all of this review is too dry for your tastes, then you can always look for a nice mutual fund. Obviously, you are not cut out for this particular speculative field of exotic investments (equities, forex, commodities, etc) and TA analysis. If you are not so sure about this simplistic self-assessment, then by all means please do thoroughly read the "Reminiscences of a Stock Operator". It could become an epithet on your personal history for cyclical successes and failures.

And do buy yourself an irrevocable annuity before your demise.

If you believe in TA (Technical Analysis) and wish to study it in detail then this is the book to read. You will refer back to it time and again. Contrary to those who bash TA, it really does work (I believe people bash it because they don't understand it, and that which they don't understand.... they FEAR!).

If insiders, funds, analysts, or pro-traders are trying to get in or out of a stock, their trading agenda has an affect on the volume, price, open and close. These trades expose patterns which are logged and computed in different ways by the various indicators. This in turn affects the direction and signals given by those indicators. In other words you are analyzing the past to gain a perspective on the future.

TA used with fundamental knowledge of a company or industry can lead to better timed and more profitable trades. There is a lot to learn and the learning never stops. Indicators respond differently in rising markets than they do in falling markets or sideways volatile markets.

Nothing is ever guaranteed, but with this book you can learn what the charts are saying and that may help you to become a more profitable trader/investor.

Technical Analysis does not exist! Head-n-Shoulders, Candlesticks, etc... are BS! TA is a lucky hit or miss chance that people take. Authors of these books make their money by writing them and having fools buy them in the hopes of becoming successful traders. Will not happen! Save your money and buy index funds for the long haul and you will make more money than you would from reading these junk books and praying every time you place a stock trade.

...then buy this book. Actually, I would call it "THE TEXTBOOK" on Technical Analysis. Murphy's reputation usually preceeds him at every trading event I have ever been to and for good reason. He has put together a clear and concise compendium of TA techniques that is accessible to beginners; though an intermediate or advanced trader would be better served. I have been trading for several years and use this book to refer to when devising new strategies. For those new to TA, let me add that I find TA most effective when I have good fundamentals to confirm a technically based move. You should understand that many traders and market makers read these books too. So, you may want to adjust your stop loss orders to something other than what is conventionally accepted. Check out the 1-Day Breakout Method, from experienced technician Eddie Kwong, to see what a fully developed TA strategy looks like.

I dont't want to write the same review (good for beginner.., some chapters are good and some not.. bla,bla,bla).
Trading IS NOT FOR EVERYBODY. If you really want to do money with that you have to be "ON THE FLOOR". You can read hundreds of
books but if you are not THERE you'll just put more liquidity to the market and for the REAL traders. So think a little before putting that 10k or 100k $ in trading (better you spend that money for a journey in Micronesia!!).

Bye.

P.S. Don't look at the number of stars (I didn't want to put no star but Amazon didn't let me).