Reddit reviews Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader

Do you mind a quick story?

I was a triple finance major. My university offered a series of courses that allowed me to get degrees in corporate financial management, commercial bank management, and investment science & portfolio management. They taught me that "if you crunch all the numbers, you can definitely get the 'right' answer for what a stock is worth."

I served as the president of the investment club for 2 years - we had $500k in real money and we had beat the S&P by over 2% every year since the fund started.

Here's the BIG part they missed (so much for a finance degree I guess).

Timing... is... everything.

I had bought NuSkin enterprises personally sometime early in the year. I think I roughly doubled my money and figured it was a good stock, so it should be bought. Not having been taught that timing matters, I recommended it to the investment club. Needless to say, it was NOT a good buy... at least, not at that price.

The club lost a little money on it but I learned a valuable lesson. Timing matters.

My friend went to Chicago to be a technical trader and I became a financial advisor. Eventually I learned that 'trading' was not a sin, even though it was taboo in school. Buy a good stock at a bad price - bad trade. Buy a terrible stock at a bargain - moolah!

I think it's great that you're trying to get a foundation for investing, but keep in mind that investing IS really about timing. Sure, you can crunch the numbers, but if you can't look at a chart and say "it's not a good time to buy" then it's all meaningless.

Try THIS BOOK or find something like it. It's important to be able to read price charts and not just to crunch numbers. In fact, if you get good enough at reading the charts you won't need the numbers. Other people can calculate them and leave their footprints in the price charts for you to follow.

Then, of course, pick the book that interests you the most in your series. Then the one that interests you 2nd most. If you get bored with one, put it on a shelf and come back later.

There is no truth in those books, only stories - you make the truth in your own mind based on what you will perceive reading them.

Best of luck.

This list should give you a good start.

“Day Trading with Short-term Price Patterns and Opening Range Breakout” by Tony Crabel

Trader Vic: Methods of a Wall Street Master

You should probably read most of the books in this link.

Evidence Based Technical Analysis

And for the masochists, Reading Price Charts Bar by Bar

Just pointing out possible mistakes in my opinion. Your 1st buy was in a strong bearish trend, highly unrecommended, you should have shorted there or waited for reversal signs to buy. Your second buy was in a classic old-school shooting star candlestick which indicates trend reversal, in this case from up to down, you should've also shorted. Your third buy was after a classic double top reversal, which is almost always a short.

If you're dead serious about learning technical analysis I highly recommend this book.

Good Trades!

Yep

I saw this recommended yesterday.

I day trade for a living.

I follow price action trading principles best espoused in this book

Warning: This book is hard to read, but worth every penny.