13 Best Technical Analysis Books That Pro Analysts Study

Professional Market Technicians & Technical Analysts Study These 13 Books To Gain Industry Certification & Master Stock & Forex Charting

We list the technical analysis study material that Certified Market Technicians (CMTs) and Certified Financial Technical Analysts (CFTe’s) use to break into the financial services industry.

If you want to master stock market technical analysis, sentiment, and stock charts, then you need to study the books professional technical analysts use to get high-paying jobs with investment banks and advisory firms.

The Best Technical Analysis Books Of All Time
The Best Technical Analysis Books Of All Time (My Bookshelf]

Do you want to attempt to successfully trade stocks, Foreign Exchange (FOREX), Binary Options, or even Contracts for Difference (CFD’s)?

If so, you need to study Technical Analysis (TA). TA is essentially the study of Supply and Demand, Volume and Price through an array of different lenses called Stock Charts.

Professional Market Technical Analysts study for an IFTA (International Federation of Technical Analysts) exam or Certified Market Technician (CMT) exam, which are industry-recognized certifications.

1. Technical Analysis of the Financial Markets

John J. Murphy

A precious contribution to the understanding of technical analysis of the financial markets, this book is a must-have for the technical (Stock Charts & Indicators) trader.

This book is also a prerequisite reading for any serious or professional technical analyst and is a core IFTA exam syllabus for the (International Federation of Technical Analysts).

Positives: One of my favorite Technical Analysis reference books and published by the New York Institute of Finance, this book is well presented and easy to understand.

Negatives: A mind-blowing amount of information; however, it does not backtest the indicators to show if they are instrumental in the practical world.

Score 72% – Content: 5/5 – Applicability: 3/5 – Readability: 4/5 – Fundamentals: 1/5 – Technical Analysis: 5/5

Buy on Amazon Buy on eBooks.com


2. Technical Analysis Explained

Martin J. Pring

Technical Analysis Explained, Fifth Edition
Available at Amazon

One of the Bibles of Technical Analysis and one of the best. Pring is a famous technical analyst, and the depth of the value of this book is unmistakable. This book is a prerequisite read for any serious or professional technical analyst and is a core IFTA exam syllabus for the (International Federation of Technical Analysts) of which I am certified.

Positives: With 600 pages of detailed Technical Analysis, the content’s quality and quantity can be overwhelming.

Negatives: Combining the best of this book and covering some fundamental analysis would provide an improved and more efficient way to learn.

See the Liberated Stock Trader Book for this combination.

Score 76% – Content:5/5 – Applicability:4/5 Readability:4/5 – Fundamentals:1/5 – Technical Analysis:5/5

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[Related Article: The 10 Best Stock Market Analysis Software Programs]

3. Technical Analysis: The Complete Resource for Financial Market Technicians

Technical Analysis: The Complete Resource for Financial Market Technicians
Available at Amazon

Kirkpatrick, Charles D & Dahlquist, Julie R

The latest or current edition

A comprehensive book with a particular focus on the flow of funds, system trading, money management, sentiment, and takes a brief look at statistics.

Covers also backtesting and includes various academic studies to back up assertions.

Lots of charts and indicators and core reading also for the CMT (Chartered Market Technician) Exam.

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4. Cloud Charts: Trading Success with the Ichimoku Technique

Linton, David

Cloud Charts: Trading Success with the Ichimoku Technique
Available at Amazon

Updata Plc.

Recognized as an authority on Cloud Charts, David Linton’s section on Ichimoku Techniques (recommended by IFTA/STA) is the key.

Good writings and clear explanations backed up with very thoughtful use of Ichimoku Charts make this a must-read reference.

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5. Japanese Candlestick Charting Techniques

Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East
Available at Amazon

Nison, Steve

New York Institute of Finance
From the man who introduced candlestick charting to the West, this is the updated 2nd edition of the original.

Candlestick Charts or Bars are used routinely today and are an essential part of building your charting methodology.

Candlesticks give insights into short-term supply and demand scenarios and enhance the speed of pattern recognition.

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6. The Definitive Guide to Point and Figure

The Definitive Guide to Point and Figure
Available at Amazon

du Plessis, Jeremy
Harriman House Ltd
The latest or current edition

Understanding Point and Figure Charting is essential to the IFTA certification, and there are questions in the exam paper on this topic.  Point & Figure (P&F) was a real eye-opener for me.  Many of the major Stock Market Analysis Software Program Vendors offer P&F charts now as standard, which is a welcome resurgence of the technique.  To see which vendors offer P&F read the Stock Market Software Review.

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7. Forecasting Financial Markets

Forecasting Financial Markets
Available at Amazon

Plummer, Tony
Kogan Page
The latest or current edition

Forecasting Financial Markets provides insights into the psychology of trading behavior and describes how “following the herd” can cause investing disaster.
It shows how your ability to make money in the world’s financial markets depends on your ability to make decisions independently of the crowd.  This book is an essential addition to the other books as it focuses on psychology and sentiment, critical for you to understand.

8. R N Elliott’s Masterworks, the Definitive Collection

R. N. Elliott's Masterworks
Available at Amazon

Prechter, Robert
New Classic Library, a division of Elliott Wave International, Gainesville GA, USA
The latest or current edition

I had the pleasure of hearing Robert Prechter speak on socioeconomic theory at the IFTA World Conference in 2014, and he is a giant of the industry.  The Definitive Collection This book compiles R.N. Elliott’s original writings on the Wave Principle and presents it to you in a single, all-inclusive book.

Devour the three ground-breaking works, long out of print, in which Elliott first described the Wave Principle to the world.

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9. Ichimoku Charts: An Introduction to Ichimoku Kinko Clouds

Ichimoku Charts: An Introduction to Ichimoku Kinko Clouds
Available at Amazon

Elliott, Nicole
Harriman House Ltd
The latest or current edition

Nicole Elliott’s 25 years of experience in financial markets – both as analyst and trader – and ability to inject flashes of dry humor into her writing make the study of Ichimoku a pleasant and insightful experience.*

Now, for the first time in English, this book presents the next stage of candlestick analysis – Ichimoku Kinko Hyo. Sometimes called Cloud Charts, this analysis adds moving averages to candlestick charts. But moving averages a little different from those traditionally used in the West. For trending markets, Cloud Charts add an essential tool for analyzing near-term areas of support and resistance.*

Sources: Amazon.com & technicalanalysts.com

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10. Breakthroughs in Technical Analysis

Breakthroughs in Technical Analysis: New Thinking from the World's Top Minds (Bloomberg Financial) Hardcover – 1. August 2007
Available at Amazon

Keller, David

Bloomberg Financial
The latest or current edition

The recommended section in this book is the GANN theory section developed by W.D. Gann.

This is usually a critical piece of the exam, but can also be challenging to learn as the esoteric concepts, in theory, are more like taking a step into the twilight zone.

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11. Mastering Hurst Cycle Analysis

MASTERING HURST CYCLE ANALYSIS: A modern treatment of Hurst's original system of financial market analysis Paperback – 30. November 2011
Available at Amazon

Grafton, Christopher
Harriman House Ltd
The latest or current edition

Christopher Grafton helps to translate J.M Hurst’s ideas to the modern-day with plenty of examples.

Cycle analysis is core curricula, and Hurst cycles are a new addition to the curricula for IFTA.

Further information on Hurst cycles are at https://hurstcycles.com

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12. 21st Century Point & Figure

21st Century Point and Figure: New and Advanced Techniques for Using Point and Figure Charts
Available at Amazon

du Plessis, Jeremy
Harriman House Ltd
The latest or current edition

One of the oldest methods of charting gets another serious update.

As the book mentions, 21st Century Point & Figure updates the theory.

Now that we have automated charting and backtesting available broadly, we get insights into the effectiveness of Point & Figure.

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13. Quantitative Trading Systems

Practical Methods for Design, Testing, and Validation.

Available at Amazon

Bandy, Dr. Howard B.
Blue Owl Press.

Building a robust trading system is essential to success.  This is precisely what Quants (Quantitative Analysts) do for their day job.

With so many Stock Market Software Program Vendors offering integrated backtesting functionality, this book is a must-read.

Dr. Bandy’s interesting book is a must-read for anyone who wishes to develop a trading system.

Read which Stock Market Program Vendors offer Back-Testing.

Buy on Amazon

Read which Stock Market Program Vendors offer Back-Testing.

Sources: IFTA / STA https://www.technicalanalysts.com/education/exam-information/

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