5 Comments on “Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures”

• AK

  

  17 April, 2010, 1:42

  I am quite surprised at how useful the book is for my trading. I’m currently a day trader that trades momentum. I have been starting to use Candlesticks in the last year or two to try to enhance my entries and exits. My profitable trade percentages are increasing and my trade exit timeliness is getting better (thanks to candlesticks). The whole candlestick concept was hard for me to swallow but the more I got into it, I realized it was a visual pattern recognition concept. The book does a great job of explaining all of the useful candlestick formations as well as backing the explanations up with examples. I really liked the second half of the book that did a very thorough statistical analysis of the candlestick signals over multiple timeframes. I learned alot from the book and will add its extensive data into my stock trading techniques. Well done….
  Rating: 5 / 5
• Vira Lata

  

  17 April, 2010, 4:03

  I had already read this book and Steve Nison’s Japanese Candlestick Charting Techniques.

  If you want to buy a book about candlestick both books have the same content about all the candlestick patterns and the descrition about them.

  Japanese Candlestick Charting Techniques:
  
  - has chapters about the relationship of candlestick with Volume, Support and Resistence, trendlines, Indicators (MACD,IFR,etc). This is VERY GOOD. Realy good.
  
  - It has many examples discussed too. More than this book.

  This book has:
  
  - a chapter about Trading with Candlesticks that has content about trendlines, supports, etc.
  
  - a lot of statistics of the patterns.

  One great difference is that this book is easier to use. It has a standardized format for all the patterns with Commentary, Rules, Psychology Behind the Pattern, Flexibility, Pattern Breakdown, Related Patterns, Examples. This is VERY GOOD. It’s only search the pattern and read what you want to know. It has a table with a resume about the pattern too.

  Steve Nison’s book isn’t objective and it is not hands-on. You are reading an example, but… where is the picture?? You have to turn the pages searching the picture and them back to the curretly page to keep going. To do that for more than 300 pages is very, VERY BAD. Really. Trust me. You need to have a lot of patience.

  Well, if you read one of these books, don’t worry: you will know all about candlesticks. But this book is easier to use and to consult.
  
  And it is cheaper than Steve Nison’s book.

  Abrax!!!
  Rating: 5 / 5
• Risk Manager

  

  17 April, 2010, 4:30

  Great book, great content. You really need to absorb the direction of the method by reading this book 2 – 3 times. This isn’t because of poor writing. This book is well written. It is due to the mindset required to fully understand the patterns for a novice like myself. I did find that it is one more tool to use to validate a trend or reversal. it has helped me with more than one profitable decision.
  Rating: 5 / 5
• Adam Cornfeld

  

  17 April, 2010, 5:16

  Great book if you are learning about candlesticks as well as chart patterns: Reversal, continuations, etc. Detailed explanation, statistics and more…
  
  I found it really helpful.
  Rating: 5 / 5
• Mark Jessing

  

  17 April, 2010, 5:35

  This is not a book about theory and history of candlestick charts. He doesn’t waste your time telling you what he thinks. Instead, this book gives specific results of candle patterns based on back-testing done by the author. He clearly defines each pattern discussed and then % of likelyhood of a reversal, continuation, and so forth. This is the kind of information that can be applied to your trading system to improve your profits.
  
  Also look at Tharp’s book, “Trade Your Way to Financial Freedom”.
  Rating: 5 / 5