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Most Helpful Customer Reviews
Getting Started in Chart Patterns based on 0 ratings. 3 reviews.
This is a very disappointing book. By the time I got to page 18 I wanted to throw it out the window! Why? Because the author uses this fictitious person, a guy named "Jake," for some completely stupid attempt at levity, I suppose, or maybe the author is making a similarly stupid attempt at the ancient technique of dialogues. In any event, "Jake" falls on his face and so does this book. In several places, the book seems to contain useful information, or it seems to be leading up to useful information when this idiot fictitious character shows up again and completely obscures the point being made. Yuck. I don't think I am going to be able to continue reading, maybe skimming would be better; NO, there is Jake again. What an ass.
This is a good basic introduction to using chart patterns as a stock trading tool. Unfortunately I can't recommend it, because there are several other books I consider better and more complete. I also found the fictional newbie trader, who constantly demonstrates what not to do, annoying and not very useful.
Instead of this lightweight material, I recommend reading:
1) "Way of the Turtle", by Curtis M. Faith. It's a great book about the methods and psychology of trading.
2) "Fooled by Randomness" and/or "The Black Swan", both by Nassim Nicholas Taleb. Both are vastly entertaining and thought provoking.
3) Bulkowski's "Encyclopedia of Chart Patterns", "Encyclopedia of Candlestick Charts", and "Trading Classic Chart Patterns"
Faith and Taleb will give you a good introduction to the mindset of successful traders and the reality that none of us are really half as smart or half as much in control of things as we think we are. Then the three Bulkowski books (or any one of them) will put a wealth of statistical data and specific methods at your fingertips for quick reference or in-depth study.