Charting and Technical Analysis

As I have been trading for a while, I began by skimming through this book. By page 40 I decided to go back to the beginning and read it thoroughly. Every topic is clearly and concisely written with a simplicity that makes it easy to understand and comprehend to beginning and more advanced traders. I was impressed by the fact that the important aspect of the psychology behind price patterns was outlined which is important as you comprehend the reason why some price patterns can be relied upon while others less so. Another aspect that is specially difficult with a book based on charting patterns, is the fact that each chart tells a story which is unfolded as each new candlestick prints, and keeping pace with that story thought the chart can be complex and confusing. Mr. McAllen deals with this in a refreshingly clear manner, enough detail to make the topic clear without drowning it in a sea of detail. This book is very worthwhile and I would certainly recommend it to all.

Strong straightforward technical analysis concepts in an easy to read relatable format. Fred does an excellent job conveying to the reader complex technical analysis concepts in a easily understandable format with visual cues and chart examples making his content comprehensive and extremely understandable. Highly recommend, there were a lot of “Ah ha” moments reading this book. I think for the average person learning this book is an excellent read and should be reviewed again after spending a couple months looking at charts and applying the principles paper trading. Some of the content is easier to relate to after a new trader has experienced their observations of charts and the markets by observing it themselves. I would recommend the book highly.

So I would say I'm a beginner investor. I don't really know much about the stock market and I honestly thought at the beginning that all you had to do was buy and hold... Mostly because of some information I read about Warren Buffett. With this book I feel I have a slightly better understanding of what is going on and how to read a chart, more than I did in the beginning. I still don't feel entirely confident that I won't trade against the market. But I believe the more I practice and study the better I'll get at analyzing the market. And I wouldn't be able to do that without the explanation in this book. I liked that the author didn't waste anytime in explaining about technical analysis. I also enjoyed that the author explained this in a way that someone who is a beginner can begin their journey into the world of investing. This is the type of knowledge that needs to be taught in school, so that when we send young adults out into the world they have more tangible information to be more financially literate than they are currently.

I found this book very useful as an introduction to technical (chart) analysis for trading. I have read other investing books and often find that it just feels like the author is trying to sell you on their particular brand of strategy and/or use the book as a marketing tool for other investment products that they sell. Fred McAllen thankfully does not do that in this book. You really get a sense that the author is trying to cut through a lot of the BS noise that you get from these market pundits and sham educators and just provide a no-nonsense guide to basic chart analysis. Fred does plug is other books a couple of times, but their mention is minimal. It is worth noting that the book primarily uses candlestick chart patterns for analysis. So if you prefer other types of charts for analysis then maybe look elsewhere. Personally, I am a big fan of candlestick charts so I like it. He does also go a bit into using technical indicators such as moving averages. Overall the book does not go deep into other technical indicators. So if you would like to learn about others I would suggest looking elsewhere. Overall I felt that this book was an excellent basic-intermediate introduction to charting. My only disappointment is that it did not go into quite the level of depth that I was hoping for, but it is still a very good resource and I like the author's style.

After having read Ted Warren's book, "Having the Stock Market Make Money for You," (which at one point was bought up by the manipulators and then republished, I wanted to share some insight about Fred's book and Ted's. I found that if the 2 people met, they would almost completely agree on everything. I was amazed! We cannot fault Ted, however, because of the time period in which he lived - when there were the 40's, 50's, and 60's stocks (employment was also limited in terms of funding a brokerage account; he also had the problem of not enough regulation in the industry like an untrustworthy broker skipping town). Ted did not have the myriad of choices in investing/speculating that we do now such as - options and options on futures. Ted used what he had available at the time along with his charting skill and became a millionaire. If Ted had the tools we have now, there is no doubt in my mind that he would have made more money, dealt with any downside better, protected profits better, and become a millionaire faster. Ted did buy and sell stocks as well as futures for about 126 % annualized return. With Fred's book, I found it to be an easy read - I zipped through 70 pages at the pool! I also read it on a flight back to my home town and then finished it this week. (Other books written by Fred are shown at the end) Each new chapter kept me at the edge of my seat as I'd learn something new, confirmed something I already knew, or pondered our current market. It is my belief now that we can't just simply learn about greeks, read the latest crop futures report, or know all the inner workings of Apple - we need Charting and Technical Analysis! At a glance, and with some light further analysis a trade plan can be developed with a high probability of success.

The best technical analysis book I’ve read.

Good reading and good information. Recommend

Injects lots of knowledge into trading skills. Complete package to understand from basic to advanced. My sincere thanks to Fred McAllen.

Według mnie jest to mocno przeciętna książka. Cała zawarta w niej wiedza jest dostępna w internecie bez większego wysiłku w szukaniu jej. Z pewnością książka pomoże totalnym żółtodziobom, ale nie jest to wiedza, która spowoduje, że zaczniesz zarabiać na rynku.

I really recommended the book for begginers, it will help you with some usefull tips. I miss a better pictures, they are dark. That's why a 4 star

Claro y conciso, sin inventos, Muy simplificado, y sumamente aplicable al mercado.