STA Blog

Must read classics: Richard W Schabacker – the real bible of technical analysis

In the mornings I work from a desk, admittedly of Victorian workhouse-style layout, facing East over The Shard at the Financial Times’ headquarters. Always the first one in on the 5th floor, it’s lovely to watch the sun rise and shift around me as the hours go by. But we’re moving, going back to the original building, completed in 1959, commissioned by then editor-in-chief of the merged Financial News and Financial Times (1945) Brendan Bracken, to Bracken House – clad in pink stone to match the colour of the newspaper.

Why am I telling you all of this? Because over the last two months, ahead of next week’s move, we have had serious sessions of de-cluttering, Marie Kondo-style. Countless numbers of shoes tucked under desks were wiped away in last weekend’s ‘floor sweep’. Better still, hundreds of book were put out to pasture, staff free to pick and choose from the thousands of profferings supplied by publishers – hopefully for review.

And I landed some gems. The top three picks were: ‘The Definitive Guide to Point and Figure’ by Jeremy du Plessis – which I didn’t have to pay £69.95 for (sorry Jeremy). A new one on me: ‘Mastering Hurst Cycle Analysis’ by Christopher Grafton (more on this shortly). And the 2005 reprint by Harriman House of: ‘Technical Analysis and Stock Market Profits: A Course in Forecasting’ by Richard W. Schabacker’s classic 1932 (second edition 1937) text. First published in the UK by Pearson Professional Ltd in 1997 (ex-FT owner), we’ve come full circle, so to speak.

I read one of the original versions, lent to me by a stockbroking firm when I first started in the City, and rate it up there with Edwards and Magee’s 1948 ‘Technical Analysis of Stock Trends’. My new book has a delightful introduction by Donald Mack who had, I’m told, a fabulous collection of technical analysis books – probably because in the late 1970’s he’d set up the first US bookshop dedicated to the subject in California.

The Editor’s Introduction of the Harriman book states: ‘’it is here that the author for the first time in memory presented Technical Analysis as a totally organised subject wherein he comprehensively laid out the various important patterns, formations, trends, support and resistance areas, and associated technical detail.’’

I’ll be rereading this book. You can pick up the one and only copy the STA has at its Barbican Library – but rush!

Posted in Finance, General, Markets, Technical Analysis, Technical Analysis Courses, Trading, Trending
Tags: , , , ,
One comment on “Must read classics: Richard W Schabacker – the real bible of technical analysis
  1. Learning from price based analyst who had to master the markets during the great trading years of 1929 through 1939 should be first on every technician’s list of must reads. thanks, Nicole

Leave a Reply

Your email address will not be published.

Disclaimer

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

Not ready to join? Stay Updated

If you want to learn more about membership and being part of the STA, sign up for our updates so we can keep in touch.

  html
  text

Monthly Meetings

The STA holds 11 monthly meetings in the City of London, including a summer and Christmas party where canapés and refreshments are served.

MORE INFO

Latest Videos

As a service to our members, many of whom are unable to attend all our monthly meetings, we have been making videos of meeting presentations for several years.

MORE INFO

STA Libraries

The STA has an extensive library of classic technical analysis texts. There are over 1000 books in the collection. It is held at the Barbican Library with a smaller...

MORE INFO

Market Technician

Latest research and news

More Info

World Class Tutors

STA Course Lecturers

More Info

Membership

Be part of something special

More Info

Blog

View latest posts

More Info