Japanese Candlestick Charting Techniques, Second Edition
A form of technical analysis, Japanese candlestick charts are a versatile tool that can be fused with any other technical tool, and will help improve any technician’s market analysis. They can be used for speculation and hedging, for futures, equities or anywhere technical analysis is applied. Seasoned technicians will discover how joining Japanese candlesticks with other technical tools can create a powerful synergy of techniques; amateurs will find out how effective candlestick charts are as
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Getting Started in Candlestick Charting
If you want to gain an edge in today’s competitive markets, adding the candlestick methodology to your repertoire of technical analysis skills is essential. Getting Started in Candlestick Charting can help you achieve this goal, whether you’re new to chart analysis or looking to enhance your understanding of the approach. This reliable resource covers thirty of the most widely recognized candlestick patterns and includes real-world charting examples backed by informative commentary.
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The best for Candlesticks – the BEST and I know,
I have a few books on candlesticks. I bought others which were cheaper, even though many reviews pointed towards Nisons’ work. Note that in Australia, we are talking about $35 (other books) compared to $150 (Nison’s book) … so anyway, after buying many others, and looking all over the ‘net for info. on Candlesticks, I ran into Nisons’ book in a shop, looked through it and had to have it.
It has a LOT LOT LOT more depth than the others. There is more to candlesticks (or any price movement analysis) than just a bunch of patterns, names, formations … the other books are far far too brief. I cannot emphasise this enough.
Look at all the other reviews for this book, many many good words said.
It is very readable, very clear, the examples are excellent, but most valuable are the insights for all the patterns … that other books simply do not have.
Sure, it costs a bit more than the other candlestick books, but hey, how much money are you trading? Does an extra 30 or 50 bucks make that much difference for the extra insight you will gain?
This is not just the best ~Candlestick~ book, but it is a very very good TA book as well. Candlesticks are, after all, just a way of plotting price movements.
Note that, in searching the web for info. on TA and investing, this book came up time and time again as ~highly~ recommended. Now I pass that recommendation on.
Note also Nison has another book, “Beyond Candlesticks”, and while I think that this is also a good book, get this one first and learn it all, the second book concentrates more on a few “Advanced” techniques, I don’t know if they are so much advanced as they are just a few more techniques + brushing over what is in the first book. Get this first book, because it has more depth on the essentials that you need to know. Get the other book later, don’t try and save money by jumping to the second one in the hope it will make the first obsolete, don’t try and save money by getting a cheaper candlestick book, don’t brush this stuff off thinking you’ve learnt all the candlestick stuff just by seeing a couple of patterns and names.
I also highly recommend Technical Analysis of the Financial Markets, this is recently updated and so incredibly good.
Beginner trader: will help you a lot, a very good investment, but also look to the book recommended above.
Intermediate: what are you doing? making a profit? get the book. Not making a profit? get the book, or get out of trading.
Advanced: why don’t you have it? it should be on everyone’s bookshelf, have you no pride? can’t you afford it?
This is one of those trading books you cannot afford not to have. I don’t give that rating to many other trading books.
Good luck!
Oh, and it is enjoyable to read.
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|Excellent resource for understanding candlestick charts.,
If you have heard of candlesticks but know nothing about them, look no further, this is THE book for you. In beautiful form and style, Steve Nison brings you into the world of Japanese candlestick charts and patterns. First giving you a fascinating history of the birth of the futures markets in Japan. Armed with that knowledge, Mr. Nison delves into the “psychology” behind the patterns that develope in the chart. He provides a thorough explaination of each pattern, down to it’s historic name, and what to anticipate when the pattern unfolds. There is also a large part of the book devoted to using candlestick charts with various indicators i.e., stochastics, moving averages, relative strength, etc. You name it, he’s got it. Actual charts are provided to visually enhance Steve Nison’s explainations. Not only does he tell, but he showes you using various markets from coffee futures to the S&P market. This book is a must addition to the library of any trader who relies on technical analysis, from the beginer to the master.
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|Do not use it alone,
I came across this book in 1998, read it reread it and memorized all the patterns. THe patterns are interesting and have meaningful names.
I can say that candlesticks have kept me away from losses. But you can hardly make good money following candlesticks alone.
THe continuation patternss are more important than the reversal patterns. Reversals can be treacherous. Reversals MUST be confirmed by a break in trend. Indeed candlestics alone can be dangerous. See it for yourself, only 35 percent of hammers are harbingers of a reversal.YOu have to combine candles with western moving averages.
All in all I have purchased hundreds of trading books and threw them in the garbage. This is the one I keep and regularly refer to.
Candlestics are superb in calculating stops.
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|Excellent,
great job – I thought it was an excellent approach for both a beginner and advanced trader who wants to get started in candlestick trading. As usual you cover many angles there is to know about trading which not only includes the candlestick patterns, psychology, and their little nuances( like tails in a consolidation ) but you also offer added knowledge on trading the markets as well. You give a great roadmap for trading trends by using trend lines, moving averages and swing points to denote support and resistance as well as giving great insight with some helpful filters such as market indicators, volume and the understanding of volatility that the markets go through (ie expansion and contraction). Lastly the section on the risk reward ratio is a topic that every trader needs to be reminded for continued success.
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|Great trading book,
This book was very well written. The other books I have read on Candlesticks have basically offered bland descriptions without establishing their relationship to trading. I really enjoyed the way it integrated candlesticks with the other important aspects of trading and showed their relationship to Trend, Volatility, Oscillators and Gaps. It not only gives descriptions of the most profitable candlesticks, it also shows how to use them in conjunction with moving averages, stochastics, divergence and other related trading concepts. This book is the best general trading overview that I have found. As a result of reading the book I feel I am finally beginning to “get it.” I only read the book last week and I have already made money by incorporating what I learned into my trades. I have started my second read to reinforce the learning process.
I am planning to order more copies for my friends who need help with their trading.
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|No Nonsense Candlestick Trader’s Companion,
Purchased this book ten days ago and have already read it cover to cover twice. Clearly written and organized, it contains all the information you need to understand important candlestick patterns — and the market psychology that drives them. This was a terrific value for the money.
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