Enhancing Trader Performance with Classics in Technical Analysis

BellaGeneral CommentsLeave a Comment

*****David Blair, The Crosshairs Trader, is a blogger/trader/educator who does a wonderful job of sharing research on elite performance and how it relates to trading. Below is his latest post for the SMB trading community.***** — Editor’s Note

“If I have seen a little further it is by standing on the shoulders of Giants.”  Sir Isaac Newton

We are all influenced in one way or another, good or bad, by what we read and study.  Technical analysts are influenced by the books (= authors) they read, with the “trading greats” eventually settling on specific and well defined trading edges that they can claim as their own.  We can say, then, that a  great trader becomes great by refining and adapting to the many sources of influence on his road to creating a personally defined edge    In one way or another all modern technically based traders were influenced, and continue to be influenced, by the following classical texts on technical analysis.

Technical Analysis of Stock Trends by Robert D Edwards and John Magee

The “bible” for technical analysts the world over.  Read the first chapter, page 1 HERE.

Technical Analysis and Stock Market Profits by Richard Schabacker

Written in 1932, Schabacker’s seminal work is still the basis for much of modern technical analysis.

Many modern day technicians acknowledge the two above mentioned books as the basis for their analysis, including Peter Brandt.

Technical Analysis of the Financial Markets by John J. Murphy

More up to date than Edwards and Magee as Murphy covers developments in computer technology, technical tools, and indicators.  Another classic that continues to weld a great influence with this book and the stockcharts.com website.

Read his Charting Made Easy HERE.

Japanese Candlestick Charting Techniques by Steve Nison

According to the author Japanese candlestick analysis dates back to the rice farmers of the 17th century and is now applied to modern technical analysis.  It is one of the most popular forms of charting market prices and Steve Nison has written the classic text on it.

Mr Nison’s website and guides are located HERE.

Three modern books on technical analysis carries on the classic tradition of the above…

Schwager on Futures by Jack Schwager.

Not just for futures trading but a definitive guide on technical analysis applicable to any market.

The Art and Science of Technical Analysis by Adam Grimes

Mr Grimes has written a comprehensive guide to modern analysis. Grimes “stands on shoulders” as he masterfully welds the science and art of trading, providing the trader a refreshing source of information to create his own “artful” trading edge.

Technical Analysis: The Complete Resource for Financial Market Technicians by Charles D. Kirkpatrick II and Julie Dahlquist

This is the main “textbook” used for the Chartered Market Technician (CMT) certification.  This is indeed the textbook on the history and application of technical analysis.

I trust the above will help enhance your performance for the only way you can “see further” is by “standing on the shoulders of classical technicians”.

David Blair



no relevant postions

Leave a Reply