Rating: 
Summary: Don't look for perfection...
Review: ...as it doesn't exist...but if you're looking for a or some book(s) that come(s) as close as possible to it, Mr Murphy's book is one of them. I've always thought that fundamental analysis alone is far from being enough to make one a good trader (as a matter of fact reading the Enron's numbers, one would think, until a few months ago, that the company was fundamentally very sound). This is one of the first books that made me believe more and more in technical analysis. Mr Murphy has a rather special and simple way of explaining various things, whether they're new to you or not, and proving why this would be right and why that would be wrong. Besides, his book is packed with well-explained typical examples of charts and indicators of almost any kind of situation. Of course this book is not flawless and there's some fluff here and there. But besides all its flaws I think this is one of the best technical analysis books ever written, establishing Mr Murphy as one of the best in his domain, together with (in my opinion) John Bollinger and Steve Nison. Furthermore, its recent edition is better than the former one, so let's hope that there'll be another one in the years to come better than the others.
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Summary: If you ever needed to get "THE" book on TA...
Review: ...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.
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Summary: I have not finished it but had to review it NOW
Review: 10 out of 10 I have not finished reading it, I am only 60% of the way through, but I had to write a review NOW to help you decide. Chances are, the price overwhelms you, and you are looking at many other TA books trying to find an equivalent cheaper one. There aren't any. This book is worth ever dollar. Many other books make TA seem so complicated, difficult. Furthermore, it gives a much deeper understanding of what it explains, many other books simply tell you something but you don't learn why, how, what to do if there is a variance, etc etc you get the idea. It is a huge book and very well presented. The graphs are well located to the text, easy to understand, each with its own detailed annotations directly underneath as well as references in the text. It is recently updated, and might I say ~thoroughly~ updated, it has a section on Japanese Candlesticks which makes obsolete a previous book I bought (by the same author, looks like he pasted most of it in this book). Look at the contents, it covers most everything, including Elliot Wave theory. They have done an excellent job at updating it. There are other TA "Bible" books out there, classic masterpieces, which are very good, however the recent updates made to this one, combined with its easy to read, learn and wonderful presentation make this the winner. If you get one book on TA, get this one. It is worth the money. You will save money in three ways: 1. if you get another book instead, you won't have to purchase this one later when you realise how lacking the other one is (or worse, buy several trying to fill knowledge gaps) 2. you will make better trades 3. you will save time, learning faster I really cannot emphasise how well the concepts are explained. This is a class act all the way, I highly recommend it, I cannot believe there are not 80+ positive reviews, I guess all the other TA people out there either want to keep the knowledge to themselves or are too lazy. If you already own a previous version of this book, I would even recommend getting this latest one as well. Also I recommend The Disciplined Trader, Candlesticks by Nison. Good luck!
Rating:
Summary: A Masterpiece
Review: A beautifully written text. Both the style and the contents are good, explanations are clear and insightful. A wealth of information, yet easy to read. The author carefully avoided the usual trap of presenting a dry "bag of tricks" or a bunch of definitions and formulas which you would forget tomorrow. Maybe you won't find each and every hot new gimmick here, but you'll definitely gain deeper knowledge and understanding.
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Summary: OK.
Review: A decent discussion of technical analysis.
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Summary: Helpfull and very good book
Review: 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!!
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Summary: A necessary trading reference....
Review: 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
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Contributor to Stocks & Commodities Magazine, Working Money, Traders.com Advantage, Active Trader, Traders Mag (Europe) and SFO Magazine
Rating: 
Summary: If you want to trade shares, futures you have to read it...
Review: As an accountant and an economist I can not ignore this book. Anyone wishes to engage in trading shares or commodities, I suggest reading this book. It is a good introduction to a beginner, or to those, who wishes to engage in trading equities. Fundamental analysis is simply not enough to succeed, you must know about technical analysis as well! It's simple to read, BUT it is a must to practise, as TA is an art, as well a science! An econometrician will question some aspects of the book (i.e. random walk), but this does not mean that the techniques explained in the book are not applicable in the real world. I gave 4 stars out of 5, as Murphy did not include much of research Journals (to make academics happy as well) in his book.
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Summary: One of the best of the modern TA books
Review: 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.
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Summary: Don't Accept Murphy's Claims uncritically...
Review: Despite my skepticism of many technical analysis (ie. charting) techniques, I bought this book a) because it was widely acclaimed; 2) I had hoped John Murphy, a prominent technician, would address some of the major criticisms leveled against TA. I was sadly mistaken. Only 2-3 pages are devoted to answering the claims of credible research that suggests stock prices are essentially random. Murphy's best answer seems to be that because some charts exhibit trends, technical analysis is validated. This is a complete non sequitir. The first half of the book is devoted to charting methods, which he characterizes as both reliable and _subjective._ Excuse me, but how can a technique be deemed reliable if two practitioners cannot agree on what the data mean? This section is heavy on claims, but lacking any solid evidence. Fortunately, the book isn't a total waste. There is an extensive review of more reliable and quantitative techniques, such as moving averages, oscillators, Boillinger Bands, etc. This part is probably the most useful portion of the book. Of further interest is the use of TA for intermarket analysis, developing trading systems, and the method of Japanese Candlestick charting, which might have something of value. A good rebuttal to the exaggerated claims of TA is _Stock Market Logic_ by Norman Fosback, who has developed some powerful trading systems of his own. If you are already a convert to TA, you will love this book. If you are a skeptic, nothing in this text will change your mind. My advice: absorb what is useful, reject what is useless, and (most importantly) add something specifically your own. (Thank You Bruce Lee!)
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