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Encyclopedia of Chart Patterns [Hardcover]

Thomas N. Bulkowski
4.2 out of 5 stars  See all reviews (28 customer reviews)

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Encyclopedia of Chart Patterns Encyclopedia of Chart Patterns 5.0 out of 5 stars (1)
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Book Description

Jan. 20 2000 Wiley Trading (Book 90)
Technical chart analysis has never been easy. It has, however, been historically successful, and well worth the added effort for dedicated investors who want to presage what a stock will do next and regularly beat the markets.

Encyclopedia of Chart Patterns represents the next step in technical analysis. This definitive text details over 50 chart patterns that signal whether a stock is in bullish, bearish, or neutral mode. It identifies each chart pattern, explains how and why each chart was formed, and where it will go next. You simply filter the information through your own trading style a nd strategy, watch for the optimal entry and exit points, and trade the market s with skill and confidence.

The step-by-step chapters in Encyclopedia of Chart Patterns reveal for each pattern:

*Results Snapshot -- At-a-glance data on chart appearance, average rise or decline, failure rate, and price prediction accuracy
* Broad introduction to the pattern Identification Guidelines
* Characteristics to look for and why
* Focus on Failures: What failed patterns look like, why they failed, and what to do
* Statistics: The numbers, and what they tell you
* Trading Tactics: Implementation strategies for maximizing profit while minimizing risk
* Sample Trade: The chart pattern in action,with hypothetical trades using real data

With the proper knowledge and understanding, chart pattern analysis can be one of today's easiest to use 'investing tools.' Encyclopedia of Chart Patterns presents the technical analysis tools, then reveals the secrets, such as average failure rates, most likely gain or loss, volume trends, and surprise findings as you use the tools to build a portfolio of wealth. Th e result is today's most valuable technical analysis reference, one that will save you critical time in identifying chart patterns and increase your likelihood of buying near the price bottom and selling near the top.


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Review

"A great achievement that fills a void for everyone who uses charts. Bulkowski has taken an intelligent and thoughtful approach to producing a practical guide to evaluating chart formations." -- Perry Kaufman, Author of Trading Systems and Methods, Third Edition

"Encyclopedia of Chart Patterns is a book I have wanted to see published for many years. It brings together the patterns found in many diverse charting methods and adds the valuable dimension of performance statistics, trading tactics, and behavioral characteristics of each pattern. It is a valuable contribution to existing literature on charting and should be considered an indispensable reference by any serious chart trader." -- Edward D. Dobson, President, Traders Press Inc

"Having worn out my 1948 first edition of Edwards and Magee's Technical Analysis of Stock Trends, I thought I knew a lot about chart patterns. Thomas Bulkowski's Encyclopedia of Chart Patterns showed me how much more there is to learn. Meticulously researched, complete, and insightful, the Encyclopedia has earned a permanent place on my trading desk as a highly valued resource." -- Thomas A. Bierovic, Manager, Strategy Testing & Development, Omega Research, Inc

"Not since Edwards and Magee has someone put together so comprehensive an assemblage of market behavior expressed graphically. That you also get a solid statistical assessment of the results of these chart formations is an unexpected and invaluable bonus. No chartist should be without this book." -- John Sweeney, Interim Editor, Technical Analysis of Stocks & Commodities

From the Inside Flap

Technical chart analysis has never been easy. It has, however, been historically successful-and well worth the added effort-for dedicated investors who want to presage what a stock will do next and regularly beat the markets. Encyclopedia of Chart Patterns represents the next step in technical analysis. This definitive text details over 50 chart patterns that signal whether a stock is in bullish, bearish, or neutral mode. It identifies each chart pattern, explains how and why each chart was formed, and where it will go next. You simply filter the information through your own trading style and strategy, watch for the optimal entry and exit points, and trade the markets with skill and confidence. The step-by-step chapters in Encyclopedia of Chart Patterns reveal for each pattern:
* Results Snapshot-At-a-glance data on chart appearance, average rise or decline, failure rate, and price prediction accuracy
* Tour-Broad introduction to the pattern
* Identification Guidelines-Characteristics to look for and why
* Focus on Failures-What failed patterns look like, why they failed, and what to do
* Statistics-The numbers and what they tell you
* Trading Tactics-Implementation strategies for maximizing profit while minimizing risk
* Sample Trade-The chart pattern in action, with hypothetical trades using real data
With the proper knowledge and understanding, chart pattern analysis can be one of today's easiest to use "investing tools." Encyclopedia of Chart Patterns presents the technical analysis tools, then reveals the secrets-such as average failure rates, most likely gain or loss, volume trends, and surprise findings-as you use the tools to build a portfolio of wealth. The result is today's most valuable technical analysis reference-one that will save you critical time in identifying chart patterns and increase your likelihood of buying near the price bottom and selling near the top.

Inside This Book (Learn More)
First Sentence
Price trend is downward, leading to the formation. Read the first page
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Concordance
Browse Sample Pages
Front Cover | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

Most helpful customer reviews
2 of 2 people found the following review helpful
5.0 out of 5 stars Very indepth and good use of statistics June 18 2003
By A Customer
Format:Hardcover
As a trader myself I am always on the lookout for books and materials that do not tout get rich quick strategies. Mr. Bulkowski takes a very methodical and usefull approach in collecting many common and some exotic chart formations and then documenting how identify, trade, and ultimately reveal their statistical performances. One feature I found pricesless was the visual index in which you can match a formation visually and then figure out what it is called to read more about it. I highly recommend this book for people who are looking for a excellent chart formation book.
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2 of 2 people found the following review helpful
3.0 out of 5 stars Mark Twain said it best Jan. 29 2003
Format:Hardcover
There are many flaws to this book & most of them Bulkowski admits. The first is the sample is cherry picked based on fundamentals which TB never gives out. The second is that while TB is obviously familiar with stats (he mentions the terms freq distribution & population enough that at least a passing idea of them is true) he dwells on the sample of 500 stocks over 5 years and gives us a population of X. Well that's a bit bogus as most PATTERNS take longer than a day to create (forget this hanging man thing, it's minor) so if you average out the span of a pattern creation, which is the true size of a sample not the one day of data, that he is using. Finally this books data was from only one market, a baby bull market, whether the stats quoted would hold up in a bear or a mature bull is questionable. I for sure wouldn't be able to extrapolate that based on what's given.
I'd recommend the source instead, Edwards & Magee, Technical Analysis of Stock Trends & for those interested in indicators/gann/elliott waves, Connie Browns Aerodynamic Trading.
On the plus side, it is very complete though the kook-sounding review about trendlines and support has a point; a lot of TB's work could have been done with Fib Retracement levels. Still if you are really into patterns you cannot pass it by though realize it's a starter in your analysis not a complete foundation. The 'Sample Trade' section is a real waste; there is not enough information other than pattern formation for you to do your own analysis. If you read the Identifcation section and the first summary paragraph you probably have gotten all you need out of the 46 chapters and saved yourself a lot of time.
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2.0 out of 5 stars method of trading successfully June 10 2004
By A Customer
Format:Hardcover
is not found here. Wordy beyond tears. Could have easily been 100 pages instead of 600. A mere pretender to the classic by Magee and Edwards.
Tedium must be the Bulkowski philosophy. I really felt he did little to clarify any technical view what-so-ever. Every page is an endurance test of what's his point and where to find it. It promises theme, but delivers anecdotes.
Loaded with questionable statistics, methodology and wordiness any reasonable trader can only come away with a feeling that this book was written for the sole purpose of making the author a buck.
What this book lacks in originality it makes up for in a scholarly pomp. Perfect for a non traders library.
The patterns are previous, The tactics non profit. This would be the last book in my trading library.
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1.0 out of 5 stars Verbose March 29 2004
Format:Hardcover|Verified Purchase
This one is a comnplete snoozer-- you'll quickly realise that the author knows how to type, but does he know how to write? It depends, if you like what normally would take one paragraph stretched into three pages this book is for you.
Fwiw, Bulkowski writes a decent column in T/A of stocks and Commodities Magazine for which I'm assume they've capped his long winded behaviour.
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5.0 out of 5 stars Outstanding Source of Information April 16 2003
By A Customer
Format:Hardcover
This book definitely serves it's purpose. I'm not sure how anyone could give it less than 5 stars. Of those who rated it lower, they seem to want someone to give them "The Holy Grail". With 43 chart patterns, it would have been impossible for Mr. Bulkowski to study the effects of support/resistance lines, low-cap vs. blue chip, etc. lest he end up with an 8,000 page tome. He assumes that each individual reader will be able to take the information given, and create their own testing to suit their individual needs. Impossible to put down once you start reading it.
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4.0 out of 5 stars Lots of Info. Dec 14 2002
Format:Hardcover
There was a lot of stuff in this book I didn't need to read, but I suppose it would help out other people. I just got it for the last 5 pages! Take what you need out of it and ignore what you don't. It is a reference book, and it is up to you to decide if you can use it, and how to use it. Personally I prefer Candlesticks, and got a lot more out of the book "Japanese Candlestick Charting Techniques" by Steve Nison, which is not for everyone, but depends on what type of trading you are doing.
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3.0 out of 5 stars All his statistics are worthless April 22 2002
By A Customer
Format:Hardcover
You can't go ahead and analyze chart patterns without first looking at the trend line channel. Violation of these support and resistance are essential to chart analysis. Simply ignored in this book.
Furthermore, although his statistics is not supported by mentioning the name of the program he used. Exhaustive testing have already been done with different results than what appears in his book. For example, his method, buying at the lower right shoulder of head of shoulder formation produced the worst results, much better results where obtained waiting for the break of the neck line and the symetry of the shoulders.
Technically outdated. To say that one web site use artificial intellegence and neural network (over ten years of testing) to evaluate the quality of the trend on a scale of 1 to 6. Similar formation have different quality evaluation. For example, if you test those charts patherns in a rising trends, you will get different quality evaluation results than those in falling trend channel. That is also ignored his book. All his statistics are worthless. He should write the program that is already written on this web site ... and back test it and do neural network analysis before writing and formulating trading techniques
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