By: wisdom_invited

wisdom_invited — Wed, 30 Nov 2011 08:05:39 +0000

7 of 8 people found the following review helpful:

Excellent guide to technical analysis, April 22, 2011

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This review is from: Charting and Technical Analysis (Paperback)

The book goes in depth when explaining Dow Theory, Candlesticks, MAs, trending, volume and examples through out of each. He also covers in detail how to use technicals to choose entry and exit points. After reading this book, you should have no problem using techinicals to spot trends, tops, bottoms, and the direction of a stock. The book is well written and very easy to understand, with just a few minimal oversights.

One of the greatest values of this book is the attention to minimizing loses. Had I read this book a long time ago, I would not have rode stocks to the bottom, or jumped in a stock "thinking" the bottom had formed. By that same token, it would have been a lot easier to have spotted the top and locked in profits. This and "Getting Started With Value Investing" by Charles Mizrah should be part of any investors collection, especially those new to investing.

The author goes into great detail explaining the most popular technicals and charts, while just going over in brief things like the MACD, stochastics, and bollinger bands. In the trading I do, I often use what is covered in this book, MACDs, and the RSI charts, and I have done pretty well.

Note:
@ Sudarshan Sukhani
Why would you give the book 1 star and say don't buy the book unless you don't know technical analysis. That's exactly the intended audience. I will admit it may not be the "ultimate" guide to technical analysis, but it is still very solid and thorough. Unless you are a very advanced investor with several years of experience, I don't think you will lose anything by buying this book.

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By: Investment Advisor

Investment Advisor — Wed, 30 Nov 2011 07:18:28 +0000

17 of 18 people found the following review helpful:

Great Investment Advice, January 17, 2011

Investment Advisor -

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This review is from: Charting and Technical Analysis (Kindle Edition)

I have been investing since 1994. After watching my portfolio be cratered by the bear market in 2000 and again for the second time in 2007, I began searching for a better investing approach. I read and reread several books on "Technical Analysis" while creating a new investing strategy.
I bought McAllen's book, Charting and Technical Analysis with hopes it would provide insight. It did not disappoint. His writing style hit the mark, it is clear, direct, and with the voice of experience.

For instance, McAllen reveals detailed thoughts in entering and exiting investments and trades. New traders will find these interesting and should pay close attention to them. Long term investors should never risk a penny before reading this book. Making money in the markets is not nearly as easy as other books will have you believe. McAllen does not promise over-night riches or get rich quick schemes. His methodical approach is great for any investor or trader.

As for the meat of the book, McAllen's book has no rivals. I have read many other books on technical analysis and this is the best by far. Refreshingly, he does not waiste time on other indicators, such as stochastics. I've used all those types of indicators at one time or another and eventually discovered that they are all based on either price or volume, so I am still convinced that they add no significant value.

McAllen simply goes to great length to describe chart patterns, how to recognize them early, and determine entry and exit points. His approach to finding the most opportune time to enter an investment in relation to risk versus possible reward is an extremely valuable learning experience.

Summary
After completion of McAllen's book, my new investing approach is to have two accounts. One for short term trading and another for long-term investments that will only be traded only at times to avoid major market declines. Whether you are a novice trader or an experienced long term investor, this is your book. It is worth double the price Amazon is selling it for.

Good luck in your investing.

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By: wisdom_invited

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