Welcome back to our blog, today we will make a list of the best books for technical analysis for the Indian audience, so if you are learning to trade and thinking of becoming a trader then you can read this book to learn technical analysis.
You can try these books for free due to the available information on the internet, but before you choose any books you should consider these factors:
Best Books on Technical Analysis
Guide to Choosing Books For Technical Analysis
1.) Author Credibility & Expertise:
- Before choosing any book, you should check the author's credibility because this increases the book's credibility.
2.) Reviews & Recommendations
- Read reviews of that book and analyze which book people found more useful.
3.) Topics
- Your final step is to check whether the book covers all the relevant topics.
Now let's move to our main point list of books on technical analysis:
Best Books For Technical Analysis
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The Trader's CodeAbhishek Ninaniya & Sudhir Dixit
Ichimoku System: Guide to Candlestick Cloud ChartsBalkrishna M. Sadekar
ENCYCLOPEDIA OF CHART PATTERNS, Second EDITION-
Technical Analysis Using Multiple Timeframes-
The Definitive Guide to Point and FigureJeremy du Plessis
1.) The Trader's Code
Let's talk about our first choice which is The Trader's Code authored by Abhishek Ninaniya and Sudhir Dixit, and published on October 3, 2020.
These books have been written keeping in mind the mindset of the Indian audience, which makes this book a good choice for the Indian market.
It delves into trading principles and strategies applicable to global markets while also considering the nuances and specificities of the Indian market scenario.
This book provides invaluable insights and strategies with real-world examples to help you further enhance your knowledge.
CategoryFocusTools/TechniquesBenefits
Technical AnalysisIdentify trading opportunities based on price & volume patterns- Trend analysis (uptrends, downtrends, sideways) - Chart patterns (head & shoulders, double bottom, triangles) - Momentum indicators (MACD, RSI, Stochastic) - Volume analysis- Visualize market trends - Identify potential entry and exit points - Gauge market sentiment and strength
Fundamental AnalysisEvaluate the intrinsic value of companies for long-term investment- Financial statement analysis (income statement, balance sheet, cash flow statement) - Company valuation (P/E ratio, dividend yield) - Industry analysis (growth potential, competitive landscape)- Assess a company's financial health and future prospects - Make informed investment decisions based on company fundamentals - Identify undervalued or overvalued stocks
Trading StrategiesImplement specific trading approaches based on your goals and risk tolerance- Intraday trading (short-term trades within the same trading day) - BTST (buy today, sell tomorrow) - Swing trading (holding positions for a few days to weeks) - Long-term investing (holding positions for years or decades) - Risk management techniques (stop-loss orders, position sizing)- Generate consistent profits through various market conditions - Manage risk and protect your capital - Align your trading style with your goals and risk tolerance
Now go to our second choice
2.) How to Make Money Trading the Ichimoku System
Now let's talk about our second choice the Ichimoku System: Guide to Candlestick Cloud Charts" by Balkrishna M. Sadekar, published on November 1, 2015.
This book focuses on teaching you about a Japanese technique for analyzing financial markets. This book also teaches you how to find trends in the market to trade.
This book also emphasizes real-life examples, case studies, and practical insights to illustrate how traders can leverage Ichimoku Cloud Charts to identify potential entry and exit points, manage risks, and optimize trading strategies across various financial markets.
Now let's take a look at the topic of this book:
Acknowledgments
Introduction
Candlestick Trading: The Basics
Fear and Greed
Candlesticks Light the Way
Why Bother with Bar Charts?
Stochastics
The Doji
Hammer and Hanging Man Signals
Inverted Hammer and Shooting Star Signals
Engulfing Signals
Dark Cloud and Piercing Signals
The Harami
Morning Star and Evening Star Signals
Combining Candlesticks with Technical Analysis
Trading Setup
Getting Real — Candlesticks Fail, Too!
Hammer Inverted Hammer Bullish Engulfing Signal Piercing Signal Bullish Harami Morning Star Signal
Hanging Man Signal Shooting Star Signal Bearish Engulfing Signal Dark Cloud Cover Bearish Harami Signal Evening Star Signal Trading Tips from a Candlestick Trader’s Perspective
Candlesticks for Longer-Term Trading
Trading for the “Not-So-Active” Trader
Work with Weekly Charts
3.) ENCYCLOPEDIA OF CHART PATTERNS, Secound EDITION
Now comes our third choice "ENCYCLOPEDIA OF CHART" If you guys are beginners in trading and searching for the best books for technical analysis for beginners then it could be a good choice for you.
This book is a valuable resource for traders and investors seeking to understand and utilize chart patterns effectively in their trading strategies.
it also offers chart patterns, providing detailed explanations, illustrations, and statistical analysis of their performance in various market conditions.
In this book, you can find explanations for basic topics like chart patterns, including classic patterns like head and shoulders, double tops and bottoms, triangles, and many more.
Broadening Bottoms
Broadening Formations, Right-Angled and Ascending
Broadening Formations, Right-Angled and Descending
Broadening Tops
Broadening Wedges, Ascending
Broadening Wedges, Descending
Bump-and-Run Reversal Bottoms
Bump-and-Run Reversal Tops
Cup with Handle
Cup with Handle, Inverted
Diamond Bottoms
Diamond Tops
Double Bottoms, Adam & Adam
Double Bottoms, Adam & Eve
Double Bottoms, Eve & Adam
Double Bottoms, Eve & Eve
Double Tops, Adam & Adam
Double Tops, Adam & Eve
Double Tops, Eve & Adam
Double Tops, Eve & Eve
Flags
Flags, High and Tight
Gaps
Head-and-Shoulders Bottoms
Head-and-Shoulders Bottoms, Complex
Head-and-Shoulders Tops
Head-and-Shoulders Tops, Complex
Horn Bottoms
Horn Tops
Island Reversals
Islands, Long
Measured Move Down
Measured Move Up
Pennants
Pipe Bottoms
Pipe Tops
Rectangle Bottoms
Rectangle Tops
Rounding Bottoms
Rounding Tops
Scallops, Ascending
Scallops, Ascending and Inverted
Scallops, Descending
Scallops, Descending and Inverted
Three Falling Peaks
Three Rising Valleys
Triangles, Ascending
Triangles, Descending
Triangles, Symmetrical
Triple Bottoms
Triple Tops
Wedges, Falling
Wedges, Rising
Event Patterns
Dead-Cat Bounce
Dead-Cat Bounce, Inverted
Earnings Surprise, Bad
Earnings Surprise, Good
FDA Drug Approvals
Flag, Earnings
Same-Store Sales, Bad
Same-Store Sales, Good
Stock Downgrades
Stock Upgrades
4.) Technical Analysis Using Multiple Timeframes
Let's talk about another beginner book on technical analysis which also teach the basic of Technical Analysis. This book mainly focuses on Timeframes. By using this method traders can learn to capture a broader perspective of market movements, considering short-term, intermediate, and long-term trends concurrently.
Utilizing multiple timeframes (Like daily, hourly, and 15-minute charts) in technical analysis requires a balanced approach and the ability to synthesize information from various charts.
Now let me tell you what topics are covered in this book.
Introduction to Multiple TimeframesExplains the concept of using different timeframes for concurrent analysis of price movements.
Benefits and AdvantagesDiscusses the advantages of employing multiple timeframes, aiding in trend identification and signal confirmation.
Understanding Trend AnalysisExplores how trends are identified across various timeframes and their relevance in trading decisions.
Support and ResistanceExamines support and resistance levels across timeframes and their significance in multiple timeframe analysis.
Identifying Patterns and IndicatorsDiscusses recognizing chart patterns, indicators, and oscillators across different timeframes.
Entry and Exit StrategiesExplores using signals from multiple timeframes to time entries and exits effectively.
Risk ManagementDiscusses risk management specific to multiple timeframe analysis, including setting stop-loss levels.
Backtesting and ValidationEmphasizes the importance of validating strategies across various timeframes through backtesting.
Case Studies and ExamplesProvides real-world instances illustrating the application of multiple timeframe analysis.
Practical Tips and Best PracticesOffers actionable advice and guidelines for successfully implementing multiple timeframe analyses.
5.) The Definitive Guide to Point and Figure
Now talk about the fifth choice "The Definitive Guide to Point and Figure" Authored by Jeremy du Plessis. This book mainly focused on a Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting Method.
In this book, you can learn the Point and Figure charting method by using real-world examples. it also teaches about the historical background, principles, and rationale behind the construction of Point and Figure charts.
Now take a look at the table of topics:
Introduction to Point and Figure ChartsAn overview of Point and Figure charts, introducing their purpose and basic principles.
Characteristics and ConstructionDiscusses the specific characteristics of Point and Figure charts and their construction method.
Understanding Point and Figure ChartsExplores how to interpret and understand the information presented in Point and Figure charts.
Projecting Price TargetsCovers techniques and methods for projecting price targets using Point and Figure analysis.
Analyzing Point and Figure ChartsDetails methods and strategies for analyzing Point and Figure charts to identify trends.
Point and Figure Charts of IndicatorsExplores incorporating indicators into Point and Figure charts for enhanced analysis.
Optimization of Point and Figure ChartsDiscusses ways to optimize Point and Figure charts for more effective market analysis.
Point and Figure's Contribution to Market BreadthExplores how Point and Figure charts contribute to understanding market breadth.
Advanced Point and Figure TechniquesCovers advanced techniques and strategies for utilizing Point and Figure charts effectively.
Chart ExamplesProvides practical examples of Point and Figure charts to illustrate various concepts discussed.
Note: - This book needs basic knowledge of chart patterns.
Conclusion
Here in this post, we add a list of the best books for technical analysis for Indians so if you are thinking to learn technical analysis then you should read this article till the end.
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