Rating  - The Classic Text on Chart Reading
Triangles. Gaps. Reversals.
Do these terms sound interesting to you? Might these be secrets to surefire trading profits? Not really. These are just some of the chart phenomena found in the theory of technical analysis. If you find you have a hard time making money short-term trading using fundamental analysis, there's a good reason - by the time you take your position the fundamental information has already been priced in. So give technical analysis a try instead.
This book, originally published in 1948, is absolutely one of the classics on technical trading (i.e., using price action, volume and time). The authors of this book claim that all a trader really needs to know is found in the charts. Fundamentals can be tossed aside. You just need to know how to interpret what the chart is saying and then act by taking a position. Of course, this means putting your capital at risk based on your chart reading.
But does this approach work? This will depend on the individual's actions. For example, you and I can trade the same stock for 3 years applying technical analysis but the end result can very well be that one of us ends up with a big profit and the other a big loss. The reason is due to the following factors: which patterns to take and which to skip, the spot where you get into a position, how far to let a position move against you, and where to take a profit. And let us not forget the very important variable - the size of the positions. All these factors will combine to produce our final results. There are no hard and fast rules here.
Unless you are a novice, you probably know that there are no guarantees in the trading game. And chart formations are NOT infallible. All the stuff taught in this book will short circuit one time or another causing a loss. You could even fall into a nasty losing streak. Ouch.
No matter what method you use, active trading is always risky. Remember it's very difficult to lose money when you hold a position in the Dow for 30 years; it's much easier to lose money by holding the position for 30 days. This book is one of the very best places to learn the theory of technical analysis of charts. I recommend going with the 4th or 5th edition, that is all you really need to capture the essence of the material, plus, you'll save yourself a few bucks.
Rating - Comprehensive Book on Chart Pattern Analysis
Technical Analysis of Stock Trends is considered to be the Bible of Technical Analysis. I would revise that to say that it's the Bible of chart pattern analysis, because it doesn't go into modern technical analysis methods (indicators etc.). At any rate, it's a comprehensive book on classical technical analysis (that being chart patterns).
The main down sides to this book are that it's a dry read and it lacks an evidence-based approach. What I mean by that last part is that many times the authors simply say "in our opinion this is so" or "in our experience we find that this happens." That really equates to a focus group of one and can be a recipe for causality errors/confusion. You're essentially left with having to take the authors word for it.
At any rate, it's an in-depth, detailed review of chart patterns, thus a valuable resource for those interested in an in-depth study of TA. But, I wouldn't base my investment decisions based solely on this book and it's not the only book that I would use to study TA.
Rating  - too many annoying garbage by the 3rd author in 9th ed.
Very hard to read. Bassetti's writings are B.S.
It maybe the best TA book in 1950. But right now I can not see why we need to read this one when we have the other two books (Technical Analysis of the financial markets, How technical analysis works), which are written by truely outstanding authors.
Rating - The lone resident of the Tabernacle
Outstanding!!
The 9th edition's BASING POINTS could win the Nobel Prize for converting Anal-ysis into Analysis.
It answers the following questions:
(1) Why your investing/trading engine could only hum -- (answer: it never knew the words & never had a ruler).
(2) What to do about Robert Prechter?
(3) With BASING POINTS it is now almost certain that the author has not yet fired 6 shots, i.e. this field is so deep in terms of conceptual understanding, that more is sure to follow. See STAIRSTOPS (a separate pdf file) to dig what I'm talking about.
(4) Is the editor the person whose coming was foretold or are we to expect another?
:)
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