The New Science of Technical Analysis by Thomas R. DeMark

The New Science of Technical Analysis can be considered a bible for every financial trader that is using technical analysis. And Tom DeMark can be considered one of the leading experts in this field. So, it’s needless to say that this book is a must-read for everyone, who wants to get some real knowledge and skills in the field of technical analysis. Every possible aspect of technical analysis is described and explained in this trading book. The only thing that this book lack is the coverage of the rather new methods of technical analysis, such as Fibonacci numbers, chaos theory and other methods that were developed after The New Science has been already written. Nevertheless it’s a real masterpiece of the classical technical analysis literature that can be recommended both to the new and experienced traders — Forex, stocks or anything else related to the financial trading.

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You can also read a review of Tom DeMark’s “The New Science of Technical Analysis”.

Pivot points are one of the greatest tools of Forex technical analysis. I recommend using pivot point calculator to find out all sorts of pivot levels — including Tom DeMark’s, Woodie’s, Camarilla, etc.

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Below you can read the reviews of the book and also submit your own review about The New Science of Technical Analysis by Thomas R. DeMark.

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5 Reviews

  1. Tony:

    DeMark’s book on the New Science of Technical Analysis is very different from the other run of the mill books on technical analysis. Instead of focusing on the usual topics like moving averages and trade patterns he presents two invaluable concepts.
    I. He provides new technical indicators which can be directly implemented using a programming technique of your choice.
    II. He also spells out ideas for research which could go beyond what he writes about in his book.

    In my own trading experience, I have been unable to increase my profits using his prescribed methods. He described his Sequential Indicator which I used a lot and also profited out of it. All this was stopped after the internet became the preferred way of trading. On the contrary I suffered some losses using the Sequential Indicator then. However, it turned out to be a learning experience for me and I realized how hollow the double bottom technique is along with being difficult to administer.
    In case you are one of those traders who like to design their own method of trading and create new and effective trading formulas, you should definitely go through this book.

  2. Nash:

    Most present day authors who write books on technical analysis fall into two basic classes. One category is the one in which the authors write just about anything they feel and it remotely makes sense. It is marked by the absence of any practical implementation, real life examples and no testing is performed before it is written down in the form of a book. The other class is the exact opposite of the first.
    This book is awful; however you may choose to categorize it. The author self destructs and the biggest reason for that is that he comes across as an extremely egoistic person. He writes just about anything without feeling any need for some evidence which justifies his baseless claims. On top of that, the editing is horrible and it seems like his ego didn’t even allow him to get an editor.
    The techniques he talks about in his book are very weak. To see this for yourself, take a look at his chapter on moving averages. He states that the moving averages method is unreliable because it gives equal importance to the distant past and the near past. He says some other things which are basically just a repetition of what many other authors have stated before. This cannot be verified as there is no such formula to test in existence. Then he moves on to enlighten the reader about some up gradations he brought about into the moving averages method to make it more reliable. These enhancements make no sense to the reader and he refrains from using any illustrations to aid the understanding of the reader.
    There is some useful information also there in this book. For example, the TD points could have been helpful. But he needed to be short and specific and not waste the reader’s time going on and on about them.
    To conclude, I would like to say that the publisher’s were senseless allowing this low quality work to get published.

  3. Elo:

    A few years ago I attended a seminar in which the author of this book was scheduled to speak. I was very impressed by him and I thought that he must be a salesman or a connoisseur of the basic market trends. It was after this that I decided to buy this book and his other two books as well. I figured I will have to do an in-depth analysis of his methods if I wanted to understand them properly. Due to some reason or another, I was never able to finish reading the books. After I lost a lot of money on other bogey trading philosophies and techniques I decided to give the book another try. It was a very good decision I made. Obviously nothing in the trading market is perfect but I can say from my own personal experience that the author has helped me improve my trading techniques drastically. I do lose money sometimes but I am making huge profits otherwise. I am not going to reveal which methods have benefited me the most but I guarantee you will find a lot of valuable inputs inside the book if you look carefully. Each technique applies to a different trader and so is the case here as well.

  4. Kryss:

    This book gives some invaluable tips but only if you take time out to carefully analyze what the author is talking about. DeMark gives some new and very effective techniques. He gives the reader an insight into his world and introduces him to trading techniques he himself developed over the years. I am not completely convinced about the importance of this book but you can skip reading it if you read his subsequent book called “New Market Timing Techniques”.

  5. Francis Ogene:

    I think is methodology is very good and will make any serius trader money, it is very basic and straight to the point