Email of the day (2)
"Thank you for an informative and interesting service, one that I am using to slowly haul myself out of an abyss of ignorance. I was hoping you could recommend literature on the subject of chart reading suitable for a novice."
David Fuller's view Thanks, and
I love the self-deprecatory "abyss of ignorance" remark. I like to
view life as a continuous learning curve, until we run out of time, so I commend
you for your curiosity.
On the
subject of chart books, I am not a fan as veteran subscribers know. I have often
said that I had to unlearn much of what I had read on technical analysis early
in my career, before I really began to understand this subject.
My biggest
reservation about charting textbooks is that they are overly mechanistic and
teach pattern identification. I have written about this from time to time, in
response to similar questions, as you can see from this discussion in response
to an email on TCS
and textbooks.
I have
long described the Fullermoney approach to technical analysis as factual and
behavioural. You can find considerably more on this subject by searching the
Archive under various key words and phrases such as - trending or ranging (17
listings found) - factual (82 listings) - behavioural technical (76 listings).
Eoin is actually writing a book on this subject, which of course is discussed
extensively at The Chart Seminar.
In earlier
discussions over the years, some subscribers have mentioned books on technical
analysis which they found useful. A search of our site under - books (184 listing)
should include them along with a lot of other content. However you can sift
through the entries fairly quickly by reading the accompanying sentence for
each listing. You will also find plenty of books on technical analysis by searching
Amazon, or the Bookshop listed one up from the bottom of the menu shown upper
left.