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Old, they say, is gold! This saying could not have been any truer than in the case of Richard Schabacker's masterpiece of a book, Technical Analysis and Stock Market Profits.
The jacket claims that the book is the real Bible of technical analyses. I feel the book more than lives up to that promise. Richard Schabacker is known as the father of technical analysis and shot to fame for his accurate predictions of the markets in the 1920s and 1930s.
This book is written way ahead of Edward and Magee's best selling Technical Analysis of Stock Trends! The ideas laid down in the book are as valid as they were when the book was first written in 1932.
Harriman-House (www.harriman-house.com) is a specialist publisher that caters to investors and traders with a collection of excellent titles to help players upgrade their skills in the extremely competitive financial markets.
The book begins by making a case for technical analysis and comparing the school of thought versus fundamental analysis. Basic ideas of constructing charts and sourcing critical data are also provided.
The second chapter gets down to the brass tacks and sets the pace for educating the serious student of technical analysis. What is really hard hitting about this book is the predictive power that the studies impart to the reader of this Bible of technical analysis.
Many books have staked the claim to be the final authority on the complex subject of forecasting price trends (using the Dow Theory), but this book stands tall in the crowd of wannabes. Every aspect of the market movement, consolidation, reversals, price extensions, price move measurement and trend lines are covered in lucid detail.
Every formation is backed by a chart or charts. The pros and cons of every formation are also stated to warn the reader of excessive dependence on the same as the Holy Grail.
The author has left no stone unturned in compiling the exhaustive studies which I feel are guaranteed to help every serious trader / investor in the markets today. The feeling that I got while reading this excellent work was that of participation as the author has not only provided hand holding while phrasing his words but also tickles the readers grey cells to think along during every chapter.
The latter part of the book also covers various types of markets -- commodities, bonds and intra-day & swing charts -- making a complete wrap up of a gripping book.
This book will help all types of traders -- short-term, intra-day, swing and long-term -- alike.
Technical Analysis and Stock Market Profits is recommended as a 'must read' for the rookie and the advanced players, for every chapter promises to throw new light even for a veteran trader.
The author is CEO, Bsplindia.com and a Mumbai-based investment consultant. He can contacted at email@example.com or ( 022 ) 23438482 / 23400345.
This article for information purposes only.
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