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Encyclopedia of Chart Patterns (Wiley Trading)
ISBN: 0471295256     Date Published: 2000-02-03     Author(s): Thomas N. Bulkowski
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Hardcover
Wiley
688 Pages
 
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06/20/2013 01:26:30
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Editorial Review - Book Description:
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.
 
Customer Review:
Total Reviews: (32)
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108 of 109 People found the following review helpful.

Regarding inaccurate statistics, August 24, 2000 ByBarry Rudd - See all my reviews This review is from: Encyclopedia of Chart Patterns (Wiley Trading) (Hardcover) I don't even know Mr. Bulkowski, but I felt compelled to write this review. One particular reviewer points out a few apparent discrepancies in this 672 page volume of research. It does not matter whether you are an author or have been published in trading-related magazines.The reviewer sarcastically poses that since the "rectangle bottom" stats on page 659 portray a zero faulure rate, that traders can get rich and never lose money!If you truly read the entire text, including Mr. Bulkowski's opening remarks that define his fresh statistical-analysis approach, then everything falls into place.Furthermore, the author addresses the "zero loss stat" for the rectangle formation on pages 440 and 444. He states that the "sample size" was small for this pattern and said: "Let me emphasize that because I did not find any failures of rectangle patterns with upside breakouts does not mean there are none."This is a good and...
 
84 of 89 People found the following review helpful.

A stunning achievement, a classic, September 16, 2000 ByAnimal Lover (CT USA) - See all my reviews This review is from: Encyclopedia of Chart Patterns (Wiley Trading) (Hardcover) This book is a must-have for anyone interested in technical analysis, whether just starting out or more experienced. It is a thorough review of patterns not seen since Edwards and Magee (1948) and deserves the name "encyclopedia". The author takes a scientific approach and does not make "claims" for one pattern or another, as a critical reviewer states. He clearly acknowledges that patterns, as with any technical method, only indicate, they do not dictate, and we are always working with probabilities. The back-testing that yields statistics on pattern performance (failure rate, average gain, etc.) is useful, but best of all is the absolutely clear description of the patterns with identification guidelines. Of the 100 or so books on technical analysis on my bookshelf, this is far and away the most-consulted. I have been using statistics-based technical analysis for over 20 years (moving averages, stochastics, and the like), but increasingly see patterns...
 
51 of 53 People found the following review helpful.

Essential, an authentic classic, February 29, 2000 ByAnimal Lover (CT USA) - See all my reviews This review is from: Encyclopedia of Chart Patterns (Wiley Trading) (Hardcover) I have been using statistical techniques for many years and thought most "patterns" are mostly in the eye of the beholder. I have yet to see a head-and-shoulders. But some patterns are so obvious that recently I have looked for definitions and explanations. This author not only provides them, but also has done the heavy lifting of testing 500 securities over 5 years in order to say how often each pattern is successful, how much you are likely to make from it, etc. This has never been done before and is very useful. "Encyclopedia" went to my top 10 technical analysis list in the first ten minutes I had it. It will be the most dog-eared book since Edwards and Magee.
 
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