Getting Started In Technical Analysis by Jack Schwager  » Books  »
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  • Also, the more I read it, the less I like it because it doesn't do a great job of explaining the concepts
  • I decided to go for a book that focused a bit more on the other areas of technical analysis, where more than just the relative strength index is used
  • I found that the concept explanation and the chart associated are pretty consistent, which is great as I can just look up to see the visual image of what is going on
  • This part is very well thought out and I am definitely one to appreciate this
  • In the end, I would still recommend this book as it offers several ways to help readers understand the concepts of technical analysis better


    • by MisterTickle

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      I got my first book on technical analysis a while back. It was called “All About Technical Analysis” by Constance Brown. I actually wrote a review on it a while back, but I overall didn’t like the book. There was a heavy emphasis on the use of the relative strength index and not so much on other indicators. Also, the more I read it, the less I like it because it doesn’t do a great job of explaining the concepts. I decided to go for a book that focused a bit more on the other areas of technical analysis, where more than just the relative strength index is used.

      I got the “Getting Started In Technical Analysis” by Jack Schwager mainly because I like the “Getting Started” series. I find that they are much better written than the “All About” series. In addition, this book is on sale on Amazon. I got it for $15.87 on Amazon. This item qualified for the super saver shipping so I really don’t know how much shipping costs. It was free for me. The


      shipping was pretty fast. I ordered the book on Sunday and it arrived on Tuesday. Since it is Amazon delivering it and not a 3rd party seller, the service is much faster.

      After getting the book, I started reading it of course. I skipped over some of the sections as I am already familiar with what the concept is. I like this book much better than “All About Technical Analysis” by Constance Brown. This book focuses on a very visual approach. Rather than using complex explanations and formulas, this book will provide a chart and then demonstrate how the analysis is done using the particular indicator that is currently being discussed.

      In terms of just the charts, I actually like them better than on the ABTA book. The charts are more diverse so it gives the reader, in this case me, more assurance that the technique works on different securities. The charts range from stocks, options, commodities, metals, currencies, and even futures occasionally. The stocks are the major ones such as Apple computers, Microsoft, Google, and so on. There isn’t a lot of non-blue chip companies mentioned. As for the commodities, this book references soy beans and coffee a lot, but another few as well. Soy beans and coffee charts just comes to mind as I’ve seen so many of them now. There aren’t a lot of metals, but the major ones - gold, silver, and platinum - are referenced. As for currencies, approximately all seven of them are introduced equally. The Great Britain pound sterling comes to mind first, but the US Dollar and a couple of other ones are also referenced. This actually offers a very big benefit. It is a very simple way for the author to show that a concept works. For example, moving averages is one of those indicators that work throughout all securities as it acts upon price alone. I got this from the book, which also offers detailed proof that it works across stocks and foreign exchange. Where it doesn’t work so well, the author goes through the trouble to explain why. In this case, commodities tend to be a supply and demand ...


      • Getting Started In Technical Analysis by Jack Schwager
      where the prices just generally tend to rise. This is just one of the examples, but there are really many more.

      One of my complaints about the previous book I read is the mismatched chart and description. The description of the concept may be on page 31, but then the chart associated with that concept is on a completely different page such as page 34. This is very inconsistent throughout the entire book. I’m glad this isn’t the case on this book. I found that the concept explanation and the chart associated are pretty consistent, which is great as I can just look up to see the visual image of what is going on. I don’t even have to flip over to the next page. This part is very well thought out and I am definitely one to appreciate this.

      However, this book is not without its flaws. I find that there is just one major flaw in this book. This book starts off with some very technical terms. I know some of these terms as I have read a couple

      of technical analysis books already. However, this is definitely not for the absolute beginner. The author does eventually explain the concept clearly later on, but the big words at the very beginning will definitely intimidate some of the absolute beginners. For example, the book goes into a very thorough look at the volatility of silver in the beginning as an introduction. I find this greatly redundant as it does nothing to help the reader enjoy and learn technical analysis. It’s almost as if it is placed in there just to give the reader a taste of what this is about without teaching the concept. I, for one, did not learn anything from this other than the fact that silver is historically volatile.

      In the end, I would still recommend this book as it offers several ways to help readers understand the concepts of technical analysis better. The glossary at the back of the book helps readers clarify any confused terms while the charts accompanying the concepts give a real life example of the indicator or concept in action.




-2
melissa says :

reviewer focuses too much on the book they don’t like, instead of the book they are writing about

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