Rating  - Must have
I dont know how this book only has a 4.5 star rating. I have read many technical books and this one is the best by far. If your serious about technical trading you absolutely need this book.
Rating  - The Original "Bible" of Technical Analysis
Have you decided that it is time that you understood what this market analysis stuff called "Technical Analysis" is all about? Then you should start with this book by John Murphy. Is it the best book on TA? It's certainly in the top three, and written by a man who has worked hard to educate people on charting, trendlines, indicators, systems, oscillators, etc.
Will you immediately become a successful trader by reading this book? Let's just say you have a heck of lot better chance at being a successful trader if you read, study, and integrate into your market research process what this book teaches.
If you are only interested in long-term investing, you probably don't need this or any of the other Technical Analysis books. But, if you want to trade on a daily, weekly or perhaps even monthly basis, you would be well served to read this book so that you at least understand what factors and indicators other people in the marketplace are watching -- people against whom you will be competing for profits.
Rating - TA IS A GLOBAL TOOL FOR STOCK MARKETS
I've purchased this TA text book two years ago and it was my first book that introduced me in detail into technical analysis. I knew before buying this text how was the argument between technical and fundamental analysts. what i was looking for inside this book infact was written inside page 455: "Despite the fact that technicians and fundamentalists are often at odds with one another, there are ways they can work together for mutual benefits. Market analysis can be approached from either direction... etc. " infact i personally was looking for something like what Mr.John says and fortunately i found technical analysis to be a very powerful tool for either predicting and/or following trends behavior in a way or another and if technical analysis can be mixed with some of trading discipline and non-emotional beahvior that would make you
a high pobabaility winning trader, and if you'd combining this to some of fundamentals definitly you will be 99% succeding in the stock market. Am sorry if i missed something, final point this book will be a good start or covering some gaps in technical analysis. am from Kuwait and was trading in KUWAIT STOCK EXCHANGE and got to said TA worked very very well with me during past two years and i hope i will use it again with the next stock market which will be STOCK MARKET OF INDIA.
Rating - An excellent reference - well worth the investment
It is entirely possible to spend more time reading trading books than doing any actual trading. This is one of the few books that will remain on my bookshelf and I highly recommend it FOR WHAT IT IS INTENDED - an excellent reference on technical analysis (TA).
What I was looking for was something to provide clear, concise descriptions on various technical indicators across all types - trend analysis, price patterns, candles, oscillators, etc. And Murphy not only does this well, but his work provides enough information that I do not see the need for another book on TA on my bookshelf, even though I know that other very good books are available (e.g. Pring). But this one is enough for me. It is well organized and indexed so that I can rapidly look up something while I am setting up trades and get the basic info that I need.
One surprise was how well written the book was and how much I enjoyed reading it. I expected a dry reference book but instead found an excellent and engaging read, perhaps with the exception of the chapter on point and figure which was not up to the rest of the book. (If you are completely new to TA, you might find it less entertaining, but in comparison to the dry tome that I expected when the monster-sized book arrived, Murphy is remarkable in his ability to convert most TA topics and examples into 'normal' English.) He also is not a proponent or zealot about any one indicator type, which I appreciate. He does a good job of describing each within the context of its value without trying to convert anyone to any specific indicator. As I do not believe in magic bullets in trading, I appreciate his straightforward approach.
Let me also note what this book is NOT so that you do not buy it for the wrong reasons:
a) As you should gather from the above, this is not a trading system. Murphy will not tell you which indicators to use most or in which combinations to produce the best results. He will provide insight into many indicators and classes of indicators but he is NOT trying to convince you to use any specific indicator in any specific way. So he doesn't try to convince you of WHAT to use, just helps you understand WHEN, WHY and HOW each indicator type is used by various traders.
b) Also, this is NOT intended to be the complete, in depth statement on any of the topics covered. For example, his section on Candlestick formations is simple, clear and includes many examples, but it is undoubtedly not the same as picking up Nison's works on Candlesticks. Similarly, you can find many books dedicated to Elliot Waves, Fibonaccis and other topics. Murphy provides the basics, but do not expect as thorough an explanation or justification as a dedicated book would provide. Then again, expect a dedicated book to try and convince you why its particular system or method is so much better than any other, something that Murphey will not try to do to you!
c) Finally, this book is NOT intended to convert people who do not accept TA into believers. Frankly, it is much easier to get most people to accept that `fundamental analysis' affects a stock's value and price, but it is harder for most to understand and accept that simply analyzing the stock's price and related indicators can predict future moves. Murphy's opening chapters include some simple basic background on TA, but verbal explanations have limited value in convincing a pure `fundamentalist' that properly used technical analysis works. The only way to break down this barrier, IMO, is simply to learn and use various indicators for a while to begin seeing how predictive they can be. Murphy does not try to convert - he simply provides a learning reference. From there, anyone using TA needs to practice to become proficient.
So, in summary, I highly recommend buying this book for what it is intended to be - a reference book on technical analysis. It does this job excellently.
Rating  - Technical Analysis Guidebook
This easy reading book does a very good job of outlining well-known technical analysis techniques. Though the book should help you identify a chart pattern as it is forming, it does not give you any indication of the probability of completing its pattern.
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