Top 7 Books to Learn Technical Analysis for Stocks

There are a wide variety of books available for learning technical analysis, covering topics such as chart patterns, crowd psychology, and even trading system development. While many of these books provide outdated or irrelevant information, there are several books that have become timeless masterpieces when it comes to mastering the art of trading.

In this article, we will look at seven books on technical analysis to help traders and investors better understand the subject and use the strategy in their own trading.

Key takeaways

Many books in the technical trading space are outdated, but several stand the test of time. These classic books focus on the fundamentals of technical analysis and reading charts as insight into market psychology rather than simply listing a variety of patterns. Among the top books for learning technical analysis are Jack Schwager’s “Getting Started in Technical Analysis” and “How to Make Money in Stocks” by William O’Neil.

Getting Started in Technical Analysis by Jack Schwager

Amazon

This book is an excellent starting point for novice traders covering every major topic in technical analysis. In addition to covering chart patterns and technical indicators, the book looks at how to choose entry and exit points, develop trading systems and develop a plan for successful trading. These are all key elements to becoming a successful trader and there are not many books that combine all this advice in a single book.

Technical Analysis Explained by Martin Pring

Amazon

This book is considered by many to be the “Bible” of technical analysis, as it contains an exhaustive amount of information covering the core concepts. The book also covers additional topics such as trading psychology and market mechanics that help traders understand “the why” rather than just the “how” of technical analysis. Despite the wide breadth of knowledge, the book is very accessible and easy to understand for beginner traders.

Technical Analysis of the Financial Markets by John Murphy

Amazon

This book is an accessible introduction to technical analysis that still provides a high level of detail and actionable insights. As a former technical analyst for CNBC with over 40 years of market experience, Mr. Murphy has become a leading voice for technical analysis and is highly skilled at conveying complex topics in an easy to understand manner. Novice traders may want to check out this book before diving into more complex topics.

How to Make Money in Stocks by William O’Neil

Amazon

Considered a classic work on technical analysis, this book is written by the founder of Investor’s Business Daily, one of the most popular investment publications in the world. O’Neil was a strong proponent of technical analysis, having studied over 100 years of stock price movements in researching the book. In the book, he presents a wide range of technical strategies and tips for reducing risk and finding entry and exit points.

Japanese candlestick charting techniques by Steve Nison

Amazon

This book is the definitive volume on candlestick charts, which are one of the most widely used technical analysis tools. Before Nison’s work, candlestick charting was relatively unknown in the West. He helped popularize the technique and train institutional traders and analysts at top investment banking firms. The book provides a thorough explanation of the subject, including explanations of virtually all candlestick patterns used by traders today.

Encyclopedia of Chart Patterns by Thomas Bulkowski

Amazon

This book is truly an encyclopedia containing a complete list of chart patterns a statistical overview of how they have performed in predicting future price movements. Mr. Bulkowski is a well-known chart writer and technical analyst and his statistical analysis sets the book apart from others that simply show chart patterns and how to spot them. The updated version of the book includes a section on event trading and patterns that occur with news releases.

Technical Analysis Across Multiple Time Frames by Brian Shannon

Amazon

This book has a broad appeal to technical traders because it can be useful to traders regardless of the strategy they use. The book emphasizes the value of applying technical analysis across multiple time frames to identify trades with the highest probability of success. It also goes far beyond what the title implies and covers topics including short selling, stop-loss order placement, price target identification, and related topics.

10,000+

There have been more than 10,000 books on technical analysis for traders released, but these seven stand out.

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