The Secret Code of Japanese Candlesticks
A simple guide for using Japanese candlesticks correctly, and profitably
Candlesticks have gotten a lot of attention lately, but few traders truly know how to use them wisely and profitably. Without the proper context, candlestick charting won’t work. In this book, technical analysis expert Felipe Tudela shares candlestick creator Sokyu Honma’s Great Market Cycle theory. With the Great Market Cycle, candlesticks reveal their powerful and simple logic and give traders the insight and context they need to use them successfully. Using these insights, readers will be able to trade each market phase in accordance with his or her own personal strategy.
Felipe Tudela (Paris, France) is a researcher and specialist in technical analysis, as well as President of the Center of Financial Research in Paris.
The Secret Code of Japanese Candlesticks
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4 Comments on “The Secret Code of Japanese Candlesticks”
A grave disappointment and a waste of my money. Worth maybe $14, not $80. Tudela seems to go to great efforts to explain why his group is the first to discover this secret link… My advice – his group find better teachers, cause real traders have known about 98% of what he teaches for a long time. I’ll save you some trouble reading the book. First of all he’s not teaching candlesticks. His premise is a trading system built around a Japanese dude named Honma. (If you want to learn how to trade like Honma, this might be a good read for you). He then goes on to talk about using Candles as the confirmation tool to Honma’s methods. It might be valuable if he didn’t act like God’s gift to trading for this discovery, which the west discovered years ago. The other strange thing is the way he defends his position by saying “western traders have known this for years”. Of course we have! Where was he the whole time!
Bottom line: If you know Dow theory, simply add your candlesticks to the phases of a trend. Learn chart patterns, learn how to draw your trends, learn about gaps, and use your candlestick patterns to fine tune entries. Now you have the 21st century version of Honma 17th century Japanese rice trading (ta da, congrats – here’s a diploma)
My biggest disappointment has nothing to do with Tudela – it’s with J Wiley – the publisher. Why the heck would they put this out? Wiley has gotten to the point where they will print any book that talks about the stock market, good or not. Most of them lately have been junk. But the editing in this book is wretched. I found incomplete sentences, flat out bad english, and many typos and misspellings. I know editing is never going to be 100% perfect but seriously this guy needed a much better editor, and Wiley should have just passed on his book. I’m usually pretty gracious on editing mistakes but when you have half a sentence missing, and you have a French guy writing in English about a Japanese dude – well we’re gonna need a little extra editing help. Seriously Wiley, pull it together.
Rating: 1 / 5
If you’ve read the books from Steve Nison about candlesticks, you’ll find nothing in this book. The secrete claimed within come as common sense if you’re in this field already. The main point I see is that one should know the game before he jumps in. Candlestick patterns, just like any other tool, is useful to some extent. One always need to do his homework before he commits to anything. There’re plenty of free stuff on the web about candles already. Or maybe you can get the book from a local library.
Rating: 1 / 5
I really enjoyed this book on japanese candlesticks. It explains the truth about them in a simple, clear and practical way. Also we find in it a unique trading formula easy to apply and that seems to work.
Rating: 5 / 5
Felipe who is one the administrator of the French Association of Technical Analysts has become, through the years, a reference of the candlestick analysis. This book is suitable for students, amateur analysts and old-timers analysts. A must read…
Rating: 5 / 5