You may be overwhelmed the instant you start searching for material on technical analysis. A lot of the information you find is full of jargon and math, and some of it is downright crackpot (although you don’t know that at first). Much of it is just intimidating.
Relax. You don’t need all this stuff, just enough to get started. Of course, start with the main chapters of this book, which give you all the basics you need to know to launch your technical analysis career. However, if you want some additional reads, this Appendix lists some I find useful and complementary to Technical Analysis For Dummies, 2nd Edition.
Plenty of technical traders use a single, easy-to-master technique to achieve their financial goals. I know one trader who made his first million after reading one book (Edwards and Magee — see the “Additional Reading” section later in the chapter). Others try all the ideas and methods, and don’t want to miss a trick.
Why spend time and money on research? Because you never know when you may come across an idea that strikes a resounding chord in you — the Eureka! moment, when you say to yourself: I can do this.
The Bare Minimum
You can use price quotes from the newspaper and graph paper, but realistically, you need charting software and an electronic data source, plus a few additional books as you discover what aspects of technical analysis and technical trading are most appealing and workable for you.
Become familiar with ...