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Behavioural Technical Analysis

An introduction to behavioural finance and its role in technical analysis

By Paul V. Azzopardi

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About the Author

Paul V. Azzopardi

Paul V. Azzopardi has decades of experience in investment.

He trained and worked as a certified public accountant and then obtained an MBA from the University of British Columbia, now Sauder School of Business, concentrating in finance and investments.

He then worked in the securities industry for the last twenty years in various roles but principally as a manager of private client ... Read more on Paul V. Azzopardi

Contents Listing

Acknowledgements
Preface

PART ONE - BACKGROUND
1. The Behavioural Finance Revolution
2. People Acting Strange: Emotion In Decision

PART TWO - BEHAVIOURAL FINANCE
3. Complexity: Trying To Keep Things Simple
4. Perception: What You See Is Not Always What You Get
5. The Self: Tuum Est
6. Aversion: Pursuing Pleasure And Avoiding Pain
7. Society: What A Lovely Crowd
8. Gender

PART THREE - BEHAVIOURAL FINANCE AND TECHNICAL ANALYSIS
9. Behavioural Aspects Of Technical Analysis
10. New Horizons

Appendices
Appendix One - Rational Economic Man
Appendix Two - Table Of Biases
Appendix Three - MTP Checklist

References
Index
Acknowledgements
Preface

PART ONE - BACKGROUND
1. The Behavioural Finance Revolution
2. People Acting Strange: Emotion In Decision

PART TWO - BEHAVIOURAL FINANCE
3. Complexity: Trying To Keep Things Simple
4. Perception: What You See Is Not Always What You Get
5. The Self: Tuum Est
6. Aversion: Pursuing Pleasure And Avoiding Pain
7. Society: What A Lovely Crowd
8. Gender

PART THREE - BEHAVIOURA ...

Jacket Text

'Behavioural Technical Analysis' is an accessible introductory guide to how human nature impacts the markets and those who trade in them.

At its core, trading is a decision-making process based on the analysis of data and a judgement on risk and uncertainty. When humans make trading decisions their emotions, physiology and the natural qualities of the brain automatically and subconsciously play a role. Therefore, to better understand the financial markets we need to better understand the behaviour of individual investors within those markets.

Behavioural finance - the study of how human sentiment and emotion affects financial decision-making - is a means for achieving this better understanding and it is already revolutionising investment and trading. In particular, it is becoming clear that behavioural finance can help evaluate various aspects of technical analysis - and this is the unique focus of 'Behavioural Technical Analysis'.

This book provides an introduction to the six main areas of behavioural finance: dealing with complexity; how humans perceive what is around them; sense of self; aversion to risk; the impact of society and crowds; and gender. An overview is given in each case and for each key concept details are provided about how it can affect the work of technical analysts.

The author then builds on these early chapters by applying the concepts of behavioural finance to three key technical analysis techniques: study of extremes, study of trends, and support and resistance. It is shown how behavioural finance can help illuminate long observed technical price patterns and thus serve as a foundation for profitable investment and trading strategies.

This book does not presuppose any knowledge of behavioural finance or psychology, skills in mathematics or detailed trading techniques, but instead provides an outline of the key features of behavioural finance that are relevant to technical analysis and advances a new and exciting way of thinking about trading.

'Behavioural Technical Analysis' is a lucid and practical read for all those who want to understand what happens when human nature and financial markets collide - and, most importantly, how to profit from it.

Professional Reviews

"This book is not merely a boring reiteration of the necessary fundamentals, but contains a combination of facts that show weakness of MPT and original ideas. The book contains inconvenient author findings of good stock picking skills of fund managers and obstacles that prevent good fund performance. Although financial gains through common stocks are possible for any investor, the author shows that consistent investment strategy allows increase probability to achieve good results. IMO some author's ideas are still not proven adequately but I think it will be fruitful to read this book not only for CFAs (prime audience) but also for amateur investors."


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Media Coverage

Traders Day Trading

Behavioural finance is primarily based on observing human beings make financial decisions. These decisions are often based on what?s called a heuristic, or ?rule of thumb?, and may therefore be ...

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Canadian Financial DIY

This book is a rationalist's attempt to make sense and investing use, through technical analysis, of the often irrational behaviour documented in the field of behavioural finance. Two-thirds of this ...

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SFO Magazine

Author of 'Behavioural Technical Analysis' Paul V. Azzopardi has an 8 page article in the November edition of SFO Magazine - http://www.sfomag.com/eSFO/eSFO2010_11.aspx

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Seeking Alpha

Behavioural Technical Analysis: An introduction to behavioural finance and its role in technical analysis

By Paul V. Azzopardi

Trading is driven by cognitive and emotional factors that more ...

Read more

Your Trading Edge Magazine

In 'Behavioural Technical Analysis', author Paul Azzopardi first explains the field of behavioural finance and then applies some of his findings to technical analysis in an attempt to explain how the ...

Read more

Seeking Alpha

When it comes to investing or trading, the most important insight for any individual is how psychology and emotion are affecting their buy and sell decisions. This helps explain why two people with ...

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Financial-trader-online.tradersdaytrading.com

The Behavioural Finance of Trends
- Traders Day Trading10th October 2011

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Media Review


Paul V. Azzopardi - Behavioural Technical Analysis - ViewPoints, University of British ColumbiaSpring 2011

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Canadianfinancialdiy.blogspot.com

"Azzopardi provides the best explanation and summary of behavioural finance concepts that I have come across to date...the book is a better and more satisfying read than more famous books in the ...

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Forexgrind.com

Review - Behavioural Technical Analysis- Forex Grind3rd November 2010

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Sfomag.com

Where Economics, Psychology and Statistics Intersect- Stocks, Futures and Options Magazine2nd November 2010

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Seekingalpha.com

"A wonderful introduction to the subject of behavioural finance and its role in technical analysis...If you want to become a better trader and a student of behavioural finance I highly recommend this ...

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Ytemagazine.com

"Concise and easy to read...serves as a solid introduction to the world of behavioural finance for those using technical analysis."- Your Trading Edge Magazine1st September 2010

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Media Review

Unravelling the investor's subconsciousThe Sunday Times1st August 2010

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Seekingalpha.com

"Paul Azzopardi provides readers with an excellent introduction...those who are looking for a clear, easy to understand introductory book on behavioral finance should take a look...it provides a ...

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