Technical Analysis Of Stock Trends PDF

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Technical Analysis Of Stock Trends

Here is a strange incident. The book, written in the middle of the 20th century, retains its relevance and importance even today.

In fact, Technical Analysis of Stock Trends remains the definitive book on the subject of analyzing the stock market with charts.

Knock-offs, lookalikes and pale imitations have spread in its wake, like the Seagull following a productive fishing boat.

But the truth is that they haven’t added anything new to the body of knowledge originally created by Edwards and Magee and refined by Magee until the 5th edition.

What is the reason for this rare chance for a book to become a classic? To

Indeed, more than a classic, a must-have manual or handbook for current use? To answer this question we have to ask another. What are chart structures?

The chart formations identified and analyzed by the authors are graphic representations of unchanging human behavior in complex multivariate situations.

They are illustrations of multiple human actions affecting the same variable (price).

A range of influences converge on the price: fear, greed, desire, cunning, malice, deceit, gullibility, earnings projections, broker’s need for income, gullibility, need for performance and job security of professional money managers, stocks supply and demand, monetary liquidity and money flow, self-destruction, inaction, trapping, rigging, blind arrogance, conspiracy and fraud, and double dealing, phases of the moon and spots of the sun, economic cycles and beliefs about them, public mood and the indomitable human need to be right.

Chart formation is the language of the market, which tells us that this stock is on the verge of its death; That stock is on the rocket going to the moon; The battle of life and death is being fought on this issue; And in the other, the buyers have defeated the sellers and are diverging.

In short, they are the indelible fingerprints of human nature, made graphic in the aftermath of war, the greatest conflict the human experience has ever seen.

Just as Freud mapped the human psyche, Edwards and Magee mapped the human mind and emotions expressed in the financial markets.

He not only created a definitive map, but he also created a method to interpret and profit from the behavior of people and markets.

It is hard to imagine further progress in this area until the science of artificial intelligence, aided by unimaginable computer hardware, makes new breakthroughs.

Trading and Investment Instruments

The new universe of trading and investment instruments available must be taken into account.

Writers would be in heaven from the abundance of options. In this futuristic world, they could trade averages (one of the most important changes explored in this book);

used futures and options as investment and hedging mechanisms; practiced arbitrage strategies beyond your wildest dreams; and considered a candy store full of investment products.

His mastery of the charting world of technical analysis would have greatly increased the value and utility of these products.

As just one example, I know a world-leading professional trader who made significant profits by selling calls on stocks that he correctly analyzed to be in a downtrend, and vice versa.

An obvious (or, as they say, no-brainer) to a technician, but not something you should try at home without expert advice, such techniques cost millions in the Reagan Crash of 1987. Dollar loss.

crystal ball

Investors will become smarter, starting with those who learn what this book says.

Professionals will be one step ahead of them, both because they are superhumanly clever and because they spend all their time figuring out how to stay ahead of the public, but the gap will narrow.

Software and hardware will continue to advance, but won’t get smarter. Mechanical systems will work well in some areas and not in others.

Mechanical systems are only as good as the engineer who designed them and the mechanic who maintains them. Buying the system is buying the hassle.

Everyone should find their own method (usually some sort of Maggie method, in my opinion). All good things will come to an end.

All bad deeds will end. The bag of tricks with which insiders harass the public will get smaller and smaller. New and simplified processes will be developed by insiders.

The well of human innocence is bottomless.

For every educated man, New York would be a new birth in minutes.

It is extremely disturbing at the turn of the century that the owners of NASDAQ and NYSE are thinking of leaving.

AuthorRobert D. Edwards, John Magee & W. H. C. Bassetti
Language English
No. of Pages836
PDF Size53.2 MB
CategoryStock Market

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