The Visual Investor, Second Edition breaks down technical analysis into terms that are accessible to even individual investors. Aimed at the typical investor--such as the average CNBC viewer--this book shows investors how to follow the ups and downs of stock prices by visually comparing the charts, without using formulas or having a necessarily advanced understanding of technical analysis math and jargon. Murphy covers all the fundamentals, from chart types and market indicators to sector analysis and global investing, providing examples and easy-to-read charts so that any reader can become a skilled visual investor.
The Visual Investor
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From the Publisher
Now in a book aimed at the huge and growing market of individual investors in stocks, bonds, and mutual funds, John introduces readers to the art and science of visual analysis. Clearly and simply he explains the principles of technical analysis in terms that nonprofessionals can understand and shows individual investors how to track the ups and downs of stock prices by visually comparing charts--instead of relying upon abstruse mathematical formulas and rarefied technical concepts. He also introduces readers to his widely acclaimed Intermarket Analysis--a proven analytical approach based on understanding the impact that all the different markets have on each other and what that means to investors. Features dozens of easy-to-read charts and graphs with step-by-step instructions on how to understand and interpret them. Includes leading software demo disks.
--This text refers to an alternate
Hardcover
edition.
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.
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6 of 6 people found the following review helpful
By magellan
Format:Hardcover
This is a good starter book for the beginner, although it will be much too basic for the intermediate or advanced trader. But if you're just starting out, the first 133 pages will give you a basic introduction to the different technical indicators and chart reading. The next half of the book deals with the application of the indicators to mutual funds and other topics. I would just read the first 133 pages, and then go on to one of the more advanced texts now that you have some background, as this book by itself isn't enough to give you a good understanding of the subject. Murphy himself has a more advanced book, and Martin Pring also, and many others. Just be advised this is really just the beginning. The book is also a bit overpriced but I will say it's probably the easiest book I've seen recently for getting your feet wet on the subject.
Perhaps the most important part of the book is Murphy's mentioning that the head and shoulders pattern was investigated by the Federal Reserve and found to be statistically significant, and supposedly now is using the indicator to time its currency interventions. However, the real use of technical analysis is not that the patterns mean anything in and of themselves, its having the experience and judgment to know which pattern applies in a given situation that makes them truly useful, and the fact the traders themselves believe in them, so to some extent they become a self-fulfilling prophecy. So the field of technical analysis is itself a combination of art and science.
And actually, the most important aspect of trading is loss control and sell discipline, and understanding position sizing relative to risk and reward, since understanding the technical indicators is actually fairly straightforward, and many charting packages will do that for you anyway, so you don't even know how to understand how they're derived. And the charting packages will generate buys and sells by whatever indicator you want, but remember, it's knowing when to apply a given indicator that's the hard part. Finally, if you're planning on starting in on trading yourself, make sure you read up on and understand what's known as "money management" thoroughly before you set out--such as proper position sizing (not risking too much money on a given trade) and not selling your losers promply--an almost universal mistake among novice traders--and even pros who should (and do) know better. Good luck and happy trading!
1 of 1 people found the following review helpful
By A Customer
Format:Hardcover
Absolutely nothing special at all. Target audience is on par of those reading Elder's Trading for a Living. Teaches a little bit of everything, but nothing very well. An advanced trader should literally be able to flip through the book, look at the charts and infer all that is necessary from this book. The few strong points that I saw were linked to intermarket relationships which Murphy has already written an entire book about.
1 of 1 people found the following review helpful
Format:Hardcover
I bought this book on impulse, in part due to my respect for John Murphy's reputation. The book is well organized and well written and should give the beginner or novice trader good reliable explanations of various analytical tools and how to properly use them. If you're looking to delve more deeply into Stochastics, Bollinger Bands, Candlestick charting and the like, look elsewhere.
If you've bought more than a couple of books on trading and technical analysis, chances are Murphy's book won't add much to your knowledge. Given the price tag, its a good purchase for an earnest beginner, but vastly overpriced if you're looking for uncommon insight or depth.
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4.2 out of 5 stars
Most recent customer reviews
3.0 out of 5 stars
A Charting Tour.
I would describe 'The Visual Investor' as more of an all-round charting tour,rather than a primer : the first quarter is given to the basics,followed by more complex aspects,and... Read more
Published on Feb 9 2003
4.0 out of 5 stars
Dummies guide to Chart Reading
Murphy has written a good primer on Technical Analysis, which he calls Visual Analysis because he feels that 'technical' intimidates novices. Read more
Published on Dec 4 2002 by Georgina
5.0 out of 5 stars
THE Place to Start in Technical Analysis
This is probably my favorite introduction to technical analysis. John Murphy discusses some of the more important technical indicators, and gives you a firm technical basis to go... Read more
Published on Aug 22 2002 by Brian E. Mitchell
5.0 out of 5 stars
One of the best books to read and own
I have read most of the books on technical analysis and this is probably the best. The book is well organized, has great examples and charts, and most importantly, the concepts can... Read more
Published on Feb 12 2002 by phoenixtoohot
5.0 out of 5 stars
Great Intro book to Technical Analysis
John Murphy was the technical analysis commentator on CNBC for the longest time and was on TV almost daily for several years. He now runs his own company, murphymorris.com. Read more
Published on Oct 2 2001 by Dan E. Ross
1.0 out of 5 stars
Good book for learning chart interpretation
Very good, easy to read, clear introduction to interpreting charts. I read this book with some of my own stock charts in hand and found the majority of the discussion in this book... Read more
Published on Aug 23 2001 by Stephen A. Moynahan
5.0 out of 5 stars
A Foundation in Technical Analysis
Fundamental analysis of stocks will take you only so far. Good products, good sales, good income, even good profits can be ignored by Wall Street or whatever street the servers... Read more
Published on Jun 21 2001 by F. Bellini
4.0 out of 5 stars
Illustrated Technical Analysis Explained.
John Murphy is able to explain technical analysis with illustrations. Technical analysis should be part of the decision-making process when investing for any fund, stock and/or... Read more
Published on Jan 25 2001 by M. Karakus
5.0 out of 5 stars
The place to start for new chart readers
Buying a good stock is not enough. You must buy it at the right price. This book is a great help in learning how to spot support levels and the importance of volume. Read more
Published on May 21 2000
5.0 out of 5 stars
Learn it, know it, live it...
As a day trader I've found the techniques discussed in this book give me a significant edge in my trades. Read more
Published on Feb 1 2000 by Steven T. Sokolich
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