The Complete Guide to Using Candlestick Charting: How to Earn High Rates of Return — safely
The investment world is full of different methods for understanding how to best grow your rates of return and minimize risk. The Candlestick Charting method, first developed by Japanese rice traders in the middle of the 19th century, has become one of the favorite modern methods of analyzing and understanding the market through careful plotting and analysis of the data provided. This book will guide you through the seemingly complex, but revolutionarily, useful method of candlestick charting to
List Price: $ 24.95
Price: [wpramaprice asin=”B002OSXJSQ”]
[wpramareviews asin=”B002OSXJSQ”]
Candlestick charting 101,
I enjoyed reading this book, however I believe this is one of those trading books that experienced traders will criticize because it is to basic and simple and to no help to them, they will rank it one or two stars. At the same time I believe this is a very readable, and useful book for new traders who will enjoy it and learn from it and rank it four or five stars. So with that said I gave it three stars, it is just an average beginners book for new traders.
This book tells the brief history of candlestick charting that started in Japan and was brought to the U.S. by Steve Nison. It shows how the candlesticks are constructed and how to read them. The book tries to convey how candles are read through the psychology of market participants and how this is reflected in the charts. The book does a great job going through each specific candlestick type like the doji, spinning top, and evening star. It also expands into how the candle sticks make patterns when they show up with each other in certain ways and how these patterns of bullish or bearish. The book touches on the importance of not trading based strictly on candle formations but looking for confirmation by combining them with moving averages, support and resistance, trend lines, Bollinger Bands, and Oscillators. I really like that the book added in chapters on trading psychology and money management these are by far the true determinants of success in trading. I also like that the author introduced the readers to Renko and Kagi charts. I have read almost 200 books on trading and investing and this is the first time I have been introduced to them, they were very interesting.
Beginners buy this book, it is a great starting place to pick up the basics on candlesticks and trading, experienced traders you already know this stuff,skip this book and go reread Steve Nison or Alexander Elder.
Was this review helpful to you?
|Complete, Comprehensive Charting Guide!,
For a complete beginner like me, this book is an excellent resource to learn Candlestick Charting from start to finish. It begins with the history and origins of Candlestick Charting, outlines all functions and relevant theories, and then delves into the heart of the matter: how to apply this knowledge to make money on the stock market. It’s not dense mathematic formulations, either–it’s approachable solutions to real-life economic trends and analysis for people of all trade skill levels. The charts are a little scary at first, but the author thoroughly explains what’s going on and how to read them, so that when you turn back to the charts as an example later, they increasingly make sense to the novice analyst.
These theories are all just that, however. I wouldn’t expect to close this book and start making tons of cash. The author is careful to emphasize the chance and analyst responsibility, which are the two external factors. However, this is an exhaustive and comprehensive foundational guide, so by the time you’re done studying, you will be thoroughly prepared to begin charting as supplemental resource when making decisions in the stock market.
Was this review helpful to you?
|Well Organized and Well Written,
Although I did not believe in candlestick charting, I bought this book to see if I am missing anything. I found the book very well organized and very well written.
Candlestick charting can assist in understanding what is going on in the market, but I have always found it hard to come up with a very profitable trading strategy based on it.
I would recommend this book to anyone interested in candlestick charting.
Was this review helpful to you?
|