The Best Stock Market Trading Book on Earth

This is by far the best stock market trading book on the planet. It is called Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications.

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[KpxUrz]

A long time ago, when John Murphy worked in lower Manhattan at Merrill Lynch in commodities and technical analysis, I had the interesting experience of being brought in as a short-term freelancer. He asked me to produce large display artwork of sample barcharts to demonstrate various patterns in technical analysis such as Head & Shoulders, and Cup and Handle, etc. These were used as teaching guides for Merrill to train their traders. At the time I did not know how famous Murphy would become, as the "Father of Technical Analysis". Actually that experience helped inspire my love of financial charts, and I have spent thousands of hours studying charts of stock, commodities, and forex, and trading in these markets for decades.

[hasantao]

I read this book and I think this is the best book. There are two other books that can accompany this book:
1. Technical analysis of stock trends
2. The handbook of technical analysis

As far as technical analysis is concerned, I believe these three books cover 99% of what you need. The rest is practice.

[Willycheng]

I recently got into the YouTube financial niche, and I’ve taken a deep dive into trading. Particularly, day trading as it interests me. I have tried multiple methods to build my portfolio in the past. So far I’m making progress with expert help. Back to the video, wonderful job there.

[greenmartian]

I collect financial books myself ranging from accountant, management, economics, investments, and technical analysis that all show math formulas. Technical Analysis is 100% mathematics. My favorite technical analysis book is Fibonacci and Gann’s Theory.

[scottmandel]

One of the TD Ameritrade classes on TA started with the instructor telling us that purely analytical individuals were going to find TA very challenging. I'm in that camp. That being said, I feel those who have mastered TA do have an extra toolset to use with investing & trading. Those who only want to appear to have mastered TA are great at pointing to a past chart pattern and then claiming the result was predicted. But, they aren't very accurate with current patterns and expected results within the next couple of weeks.

[acousticide]

I have studied charts for 30+ hours a week for 3 years now. No indicators except a simple moving average. If you look long enough, you will realize there are so many mind boggling coincidences in the chart. The charts are living breathing entities and provide all the information you need to know about where it's going.... the challenge is figuring out WHEN it will go to it destination. I only believe in TA, and I'm convinced that news, events, and "catalysts" are only tools of the chart take in the necessary direction. I will check out this book.

[yccrtmm]

I already have many years as a trader and investor in Brazil, and knowing how to analyze the charts helps me a lot, you are absolutely right. I really liked this book, I will buy it as soon as possible, thank you.

[mostafizurrahman]

It feels like you're more passionate about this than math. 😆

[markbaugh]

I have this book. It is the conceptual standard on the subject. I meet people in professional settings that claim to be ‘quantitative’ but mock ‘technical analysis’. Technical analysis is merely the visual representation of price and volume quantitative data. The mathematical/order-flow trade systems I work with use technical analysis constantly as one component group in our weighted decision tree to determine entry-exit locations and allocation size following decision-rules based on probability and fundamental micro/macro-economic financial data. I’m pleasantly surprised you covered it. Thanks. Love your channel.

[kurtfisher]

Keep in mind that 70% of the US Stock Market is traded automatically by algorithmic directed computers. Humans are not making trading decisions as occurred when Murphy wrote his book in 1999. Murphy's identification of a psychological aspect to trading decisions may have less weight than it did historically. Conversely, the psychological component is well recognized in macroeconomics. Nevertheless, I think it's a good trading book and useful knowledge to have.

[orenmartinfx]

This is the best channel 🏆
I am a trader, and i tell you show everything!!!

[edgardosantana]

This feels like a Godsend. I just found this video and am making my way into this world. I really wanted a book to understand from a fundamental level the theories behind trading. Thank you for an enthusiastic and detailed review!

[nubeebee]

I did well in future options by using a charting analysis strategy, so I'll get both books. Thanks, Math Sorcerer!

[Antonin]

problem with a lot of these older books (and yes that includes Lynch's books) is that they were written when they were trading before heavy computers/AI/algorithms. Yes the basic tech analysis still applies if you want to trade. But a lot of the trade/stocks examples they give in the books are from before 2000s, heck even before the 90s.

Yes Coca Cola was a good buy back in the day....of course....

[TheMagykKonch]

You the man for showcasing this. I just bought it 👌🏼

Edit: *thoughts on TA* it works, beyond a doubt. The portfolio killer is the absence of risk management(which is fancy talk for STOP LOSS). My 2 pieces of advice for new booties is 1. Learn the basics of TA (supp/res, TL’s, and Chart Patterns (both continuation and reversal) and 2…….. SET A STOP LOSS. STOP LOSS IS MANDATORY ON *EVERY* TRADE

[algoa]

Unfortunately one cannot post an excellent cartoon on how numerate individuals approach the market so let me try and summarize:

Panel 1: A clearly numerate individual in front of a computer says, "I'm numerate and know about mathematical

Panel 2: He says with a confident look on his face, "the stock market is about numbers so I should have no problem making

Panel 3: Same individual looking somewhat nonplussed, did all my money

😂😂😂


I agree that Murphy's book provides and excellent overview of TA that captures the emotional ebb and flow of the market. By the way many simple TA tools are behind the scenes simply digital filters - even the humble moving average - applied to price fluctuations.

[JanPBtest]

Few months ago in an interview (forget which channel) a Fidelity analyst mentioned two types of best-performing accounts there: (1) owner deceased, and (2) abandoned accounts. Food for thought 🙂

[Arsbars]

OMG! I didn't know you'd cover smth related to trading at all!
Just really cool to see from a HEAVY math person!
Amazing:)

[Bibi_Mbaape]

Technical analysis is astrology for men.

[randyl]

Really enjoy you showcasing these various books. This one is now on its way to me.