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The Visual Investor: How to Spot Market Trends Hardcover – Feb 3 2009
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From the Inside Flap
Visual analysis, also known as technical or chart analysis, is one of the best ways to invest in today's markets—and it's not as hard as you might think. This proven approach allows you to follow almost any market, without having to be an expert on any of them, and it can give you an enormous advantage over those who prefer to use some form of economic or fundamental analysis.
With over forty years of market experience and a number of bestselling financial books to his name, John Murphy, one of the world's foremost technical analysts and educators, knows what it takes to make it in this field. Now, with the Second Edition of The Visual Investor—which has been completely updated for current markets—Murphy shares his invaluable insights on this subject with you.
Written in a straightforward and accessible style, this updated guide will introduce you to "visual" investing by explaining a variety of charting techniques that professionals have used for decades, and shows you how specific visual tools can put you in a better position to successfully trade commodities, currencies, bonds, and stocks in both domestic and global financial markets. With the real-world examples and comprehensive charts found here, you'll quickly discover how to:
- Tell the difference between markets that are trending and those that are not
Locate important breakouts or breakdowns
Spot significant support and resistance levels
Implement asset allocation and sector rotation strategies through exchange-traded funds and mutual funds
Utilize moving averages to keep track of trends
Incorporate essential price patterns into your investment analysis
Along the way, Murphy takes you through the ins and outs of reading price and volume charts that can help you make sensible investment decisions, and highlights how you can track the ups and downs of financial markets by visually comparing charts—instead of relying upon complex mathematical formulas and confusing technical concepts.
Knowing why a market is moving is interesting, but not crucial to investment success. In order to trade profitably, all that really matters is what the markets are actually doing. Visual analysis is the best way to determine this, and with the Second Edition of The Visual Investor as your guide, you'll learn how to put this effective approach to work for you to enhance the performance of your portfolio.
From the Back Cover
Praise for The Visual Investor Second Edition
"John Murphy displays his remarkably broad knowledge of price patterns and intermarket relationships in this concise, up-to-date edition. It is a tour through the most important visual techniques, punctuated with practical, timely examples, including real estate, gold, VIX, mutual funds, and ETFs. Every trader will want to read this."—Perry Kaufman, author of New Trading Systems and Methods, 4th Edition and A Short Course in Technical Trading
"John Murphy has surpassed another career milestone. His first book on technical analysis is widely regarded as the industry's standard, and his second is considered a groundbreaking dissertation on intermarket analysis. So too, The Visual Investor, Second Edition is expected to become a reference guide for technicians and fundamentalists alike, as he has successfully removed the mystique that has shrouded conventional chart analysis by providing a panorama of visual tools and relationships that simplify a heretofore seemingly complex investment approach."—Tom DeMark, President, Market Studies Inc.
"Imagine going grocery shopping in the stock market and facing hundreds of canned goods marked candlesticks, chart patterns, and indicators. Murphy pulls from the shelf his favorites, explains them to you, and adds them to your shopping cart. At home, he opens each can and cooks a delicious meal that is not only tasty but profitable as well. The Visual Investor is John Murphy's cookbook. Read it."—Thomas N. Bulkowski, ThePatternSite.com, author of Encyclopedia of Chart Patterns and Encyclopedia of Candlestick Charts
"If investors want to learn how to trade trends, they should study every word of The Visual Investor, Second Edition. Murphy hits the mark again!"—Michael Covel, author of The Complete TurtleTrader and Trend FollowingSee all Product Description
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Top Customer Reviews
Easy to understand with lots of useful information with many examples. One of the best books I have read on technical analysis.
Most Helpful Customer Reviews on Amazon.com (beta)
This book focuses mostly on technical analysis for stock investors. It offers buy and sell strategies. The book also mentions how technical analysis can be applied for ETF's, commodities, mutual funds, and bonds. Also, it mentions on how investors can use ETF's to take advantage of hard-to-access markets such as commodities, foreign markets, currency, and bonds. It's a 300 page or so book but lots of charts which makes the book a quick read.
One of the pluses about this book is that it encourages looking at the bigger picture by looking at monthly and weekly charts as well as the daily charts before making a buy or sell. Also, it encourages on looking at relative strength charts in order to determine best of bread.
I consider myself an intermediate investor, mainly a fundamental investor with a couple years of technical analysis experience. I have read books forex trading that covered some technical analysis. This book so far is the best book on technical analysis. This book opened my eyes more on technical analysis.
This book is a very good primer on technical analysis. I would recommend is this book to anyone starting out on technical analysis.
Its beauty is in its simplicity, yet it is still robust enough to cover all the meaningful topics including trend, market breadth indicators, technical indicators and intermarket analysis. The charts are clearly labeled and perfectly consistent which makes it very easy to SEE what Murphy is describing. The charts are all updated to capture more recent market action (the first book was written in the 90s).
This book doesn't meander around other topics like money management, psychology or other important components of trading. Those looking for a more complete reference on how to trade markets should look else where. But for the beginner trying to understand how to use TA, this should be your first stop. Intermediate and advanced traders or technicians should not even consider this book. Instead look to Murphy's earlier text "Technical Analysis of the Financial Markets" for a very thorough read with a similar style.
If I was asked to recommend one book to a novice investor. This would be it.
I am interested in since I use visual cues in my trading.
What I got was a rehash of some very basic charting techniques and indicators,
and some info on basic investment vehicles.
The rest of the book was dedicated to numerous shameless plugs for Murphy's products, investment tools and Internet projects.
I wouldn't even recommend this book to a rank newbie to the investment arena.
Very poor. Something not expected from someone with such a good reputation in
This is the first book I ever returned to Amazon.....
The Visual Investor seemed like the next logical step, but it was hard to tell from the online previews exactly how much redundancy and overlap there would be with Charting Made Easy or his more advanced Trading with Intermarket Analysis book. I thought about making the leap right to TwIA, but I got cold feet and purchased The Visual Investor instead.
Now that I've finished this book, I'm very glad I didn't skip over it. The first part of the book does review some of the very basic material introduced in greater detail in Charting Made Easy, but as it proceeds this book also begins to apply those concepts to real world market indicators, sector funds, index funds, ETFs, etc. It also introduces the concepts behind market rotation, so I'm pretty sure I'll be much better prepared to absorb the greater detail I expect to find in the TwIA book than if I had just dived into it without the prep presented in this book. This isn't the only investing book you'll ever need, but for it's intended purpose I think it's excellent. I've begun reading it a second time to let it really sink in before moving on to the next.
Regarding the Kindle edition: I worried a bit about how legible the charts would be with the Kindle app for Android running on my Samsung Galaxy Tab Pro 8.4 tablet, but my concerns were all for naught. Double-tapping any chart will open up in a window that allows you to pinch and zoom as much as needed. The only issue is that in a single page format the text would call for a chart that might be two or three pages later, so there might be a couple of page turns required or you could click on a link to take you there directly. For all I know, the printed book might also require some page turns. The bottom line is, the Kindle edition ended up being fine for me.
It's a good idea also to by the bigger one by the same author, Technical Analysis of the Financial Markets, as a supplement.
Combine them with a strategy, including money management, and you may succeed in the stock market!
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