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Rating: 
Summary: A Clear and Essential Guide
Review: Murphy has collected, collated, condensed and presented just about every method of technically analysing the futures markets. His text, whether dissecting simple or abstruse concepts, is remarkably lucid. Comprehensive and comprehensible, this is a reference futures traders must own. All I would have asked for in addition would be more suggestions for implementing trading strategies, but that, in fact, might require another book. If Murphy were to write it, he might outsell all those fake futures promoters and their $195 "courses" combined.
Rating:
Summary: Text Book style - very effective analysis
Review: Murphy has taken a very technical analysis of a "dry" subject and turned it into a readable, useful guide that should by read (and referred to often) by everyone who dares trade in the futures markets. It's a great first book on the subject, and a great book for experts alike.
Rating:
Summary: Text Book style - very effective analysis
Review: Murphy has taken a very technical analysis of a "dry" subject and turned it into a readable, useful guide that should by read (and referred to often) by everyone who dares trade in the futures markets. It's a great first book on the subject, and a great book for experts alike.
Rating: 
Summary: speaks with authority
Review: Murphy has written a very good reference book, useful for brushing up on the finer points of charting, indicators and so forth. He also does a good job of going over the various technical theories with a straight face, neither endorsing favorites nor casting ridicule on the ones that are more logically suspect (cough cough, gannelliottfibonacci, cough cough). The only thing I really took issue with was the habit of trying to predict the size and extent of price moves rather than sticking with more general observations regarding momentum and overall movement. Looking for something to happen before there is evidence of its arrival is a dangerous game for technical players, and to devotees of the approach, a friendly warning: be careful not to become a fundamentechnicalyst. Meaning, always keep in mind that effective technical analysis highlights probability rather than makes predictions. Since I just made up the word for this review, I'll now throw in the definition: A "fundamentechnicalyst" is one who makes predictions, just like the run of the mill fundamental analyst does- except the fundamentechnicalyst is making predictions based on technicals: chart patterns and various indicators, rather than supply and demand, weather, politics etc. In giving advance notice of how the movie is going to end, the approaches have similarity in their folly. The answer is to not say, "aha! because of pattern ABC, result XYZ must now occur...." Instead, say, "aha! because of pattern ABC, there is a reasonable probability that XYZ could possibly occur, but I recognize this is an odds game which means 1) it is normal, reasonable and expected for me to be wrong a portion of the time (the odds say so), and B) I gotta have a risk point, just in case this is one of those occurrences where the odds don't play out in my favor. The difference in the thought process is subtle but critical. A prediction locks you in, creates a psychological commitment, brings your ego into the game, and screws up your mindset in general. Whereas if you recognize trading is essentially nothing but an odds game, then flexibility and peace of mind remain intact. One of the hidden gems of this book was an excellent outline of why the contrarian method works. I don't want to give away Murphy's goods here, so I will just say that he points out a few very interesting reasons why it is natural for the majority to be wrong at turning points, and it is not simply because the masses lack trading ability or intelligence (though that is a factor, of course; the lumbering beast called Crowd is known for strong back and weak mind.) To sum up, buy this book if you are new to technicals, if you want to brush up on your knowledge, or if you just want a handy reference. But be wary of the prediction trap. Keep your understanding of probability and odds intact.
Rating:
Summary: speaks with authority
Review: Murphy has written a very good reference book, useful for brushing up on the finer points of charting, indicators and so forth. He also does a good job of going over the various technical theories with a straight face, neither endorsing favorites nor casting ridicule on the ones that are more logically suspect (cough cough, gannelliottfibonacci, cough cough). The only thing I really took issue with was the habit of trying to predict the size and extent of price moves rather than sticking with more general observations regarding momentum and overall movement. Looking for something to happen before there is evidence of its arrival is a dangerous game for technical players, and to devotees of the approach, a friendly warning: be careful not to become a fundamentechnicalyst. Meaning, always keep in mind that effective technical analysis highlights probability rather than makes predictions. Since I just made up the word for this review, I'll now throw in the definition: A "fundamentechnicalyst" is one who makes predictions, just like the run of the mill fundamental analyst does- except the fundamentechnicalyst is making predictions based on technicals: chart patterns and various indicators, rather than supply and demand, weather, politics etc. In giving advance notice of how the movie is going to end, the approaches have similarity in their folly. The answer is to not say, "aha! because of pattern ABC, result XYZ must now occur...." Instead, say, "aha! because of pattern ABC, there is a reasonable probability that XYZ could possibly occur, but I recognize this is an odds game which means 1) it is normal, reasonable and expected for me to be wrong a portion of the time (the odds say so), and B) I gotta have a risk point, just in case this is one of those occurrences where the odds don't play out in my favor. The difference in the thought process is subtle but critical. A prediction locks you in, creates a psychological commitment, brings your ego into the game, and screws up your mindset in general. Whereas if you recognize trading is essentially nothing but an odds game, then flexibility and peace of mind remain intact. One of the hidden gems of this book was an excellent outline of why the contrarian method works. I don't want to give away Murphy's goods here, so I will just say that he points out a few very interesting reasons why it is natural for the majority to be wrong at turning points, and it is not simply because the masses lack trading ability or intelligence (though that is a factor, of course; the lumbering beast called Crowd is known for strong back and weak mind.) To sum up, buy this book if you are new to technicals, if you want to brush up on your knowledge, or if you just want a handy reference. But be wary of the prediction trap. Keep your understanding of probability and odds intact.
Rating:
Summary: A great primer for technical analysis and easy to follow.
Review: Murphy starts with a history of the futures markets and leads into charting, patterns, trendlines and on into some of the more common techincal indicators. This book should be the bible for traders who are just getting there feet wet and then used as a reference later. There is no technical jargon that gives the reader the impression that this book is too advanced. Clear and easy to follow historic charts illustrate all of the concepts mentioned. This book should be on every traders bookshelf.
Rating:
Summary: A MUST FOR THE BEGINNER AND THE EXPERT
Review: The Best book you can ever find on Technical Analisys. For everybody that wants to starts with Commodities Trading I suggest this Book. Best thing that You can do is to read before all the Schwager on Futures series after pass to it and lately read another great book of john "Intermarket technical analisys", It is the best book ever written on trading. Like that you' re going to understand HOW THE MARKETS REALLY WORK. As a Member of IFTA(International Federation of Technical analisys) I suggest this book to whoever wants to start in Technical analisys. As a Professional Trader I still use John book. It is always on my desk as reference. You will find everything you need to know about Technical Analisys and something more. If you need some help do not hesitate to contact at my E-mail. In bocca al lupo per il trading!!!
Rating:
Summary: A Clear and Essential Guide
Review: This is a great book for someone who wants to learn technical analysis at home. It's written in a down to earth style, without excessive math formulas. The only thing missing is Candlestick Charting, which only became popular after the publication.
Rating:
Summary: A Great Book For Self-Learning
Review: This is a great book for someone who wants to learn technical analysis at home. It's written in a down to earth style, without excessive math formulas. The only thing missing is Candlestick Charting, which only became popular after the publication.
Rating:
Summary: Excellent Primer!
Review: This should be on every techie's bookshelf! Much better than the info in those $195 "get rich quick" mailings, for a lot less. If you are interested in learning technical basics, at a bargain price, this is the place to start. You will find yourself reviewing it over and over.
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