Average Reviews:
(More customer reviews)This book is the third Candlestick book that I have read cover to cover. The previous two were Steve Nison's two Candlestick books. While Nison's books were excellent and extremely easy to understand, this book concentrates on strategy for making money and gives more trading insights. I have been making money even in this bear market using the trading signals described in the book.
The system is simple...use stochastics to confirm candle signals to ensure that you always buy oversold stocks and sell short oversold stocks. If you are a disciplined trader and wait for confirmation of the signals you can be profitable more than 75% of the time and your losses from your losing trades will be minimal if you keep tight stops - A must in these market conditions.
There is a huge amount of overlap in Nison's and this book but I would still recommend all three as there is always some different points in each.
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The updated edition to one of the most popular books on technical analysis
Japanese candlestick charting and analysis is one of the most profitable yet underutilized ways to trade the market. Signals created by this unique method of technical analysis-represented in the form of graphic "candlestick" formations-identify the immediate direction and effects of investor sentiment through price movements, allowing traders to profit by spotting trend reversals before other investors. This updated version of Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits makes learning the method fast and easy by introducing specific patterns, as well as the psychology behind them. The book
Details the most valuable aspect of technical analysis-reversal patterns-as well as reversal signals, including the Doji, the Hammer, the Hanging Man, Engulfing Patterns, and Dark Cloud Cover
Explains continuation patterns and explores how they can help with the decision-making process during various trading periods
Reveals how to find trading situations that have the maximum potential for profitability, the highest probability of success, and the least amount of risk
Learn how to quickly search, view, and profit with candlestick formations with Profitable Candlestick Trading.
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