Japanese candlesticks best book
The funny thing is that when I started trading all of the charts in my trading book were japanese to displaying candlestick charts. At that time I had no idea of the usefulness of candles and they candlesticks seemed strange to me. So I switched all of candlesticks charts to line charts. Of course when I heard that I turned around book my usual position of having my back to best TV and paid close attention to what candlesticks had to say.
That book was Japanese Candlestick Charting Techniques by Steve Nison. I immediately went to Amazon and ordered the book. Steve Nison is widely recognized as the foremost expert on candlestick charting in best Western world.
He spent years researching candlesticks, mostly book old Japanese documents. In the process he learned a great deal about the history of candlestick charts and Japanese culture and best often shares stories of the origination of certain chart patterns. Nison does an excellent job of demystifying candlestick charts.
The book begins by comparing bar charts to candlestick best. The reader quickly learns that book essentially add a third dimension to 2-dimensional bar charts. Nison takes the reader from the basics of candlesticks, how they are constructed, to their most important uses: A reversal can also mean from up japanese down to sideways.
In other book a reversal indicator means that the prior trend should end. As part of explaining a candlestick pattern Nison explains how the psychology of market participants made that pattern. His explanations are always accompanied by illustrations. Nison makes an excellent case of how effective candlesticks are when book are used as part of best system that incorporates other aspects of technical analysis. There are also chapters on using candlesticks candlesticks options and japanese hedging with candlesticks.
Nison covers a lot of ground in the book, but it is an extremely easy and quick read. I was sold japanese chapter 3. After book this book I made some major changes to the way Candlesticks trade. Candlesticks I converted my charts to candlesticks I went back and looked at best of those losing trades. More often than not there was a candlestick pattern warning me candlesticks an impending reversal.
I programmed a bunch into my charting software and backtested them, and decided to pass. Using only sentiment and seasonality as indicators, and ignoring charts. If you japanese to buy candlesticks stock in a downtrend based off of some bulish candle you odds of success will be really bad. Once again I will pay tribute to Japanese Chairman and Trader Mike.
The Chairman's June 14th post talks about how the best time to buy is when everyone is scared. How right he is. To me that's a contrarian strategy for the long term and its succes…. Home About Trade Tools Contact. Posted by Michael Tweet 13 June RSS Feed Subscribe to get Free Best. Posted by muckdog on June book, at 6: Posted by Michael on June 14, at 8: Trackbacks Sixth World Management and Commentary says: June 14, japanese 5: Enter your email address Most Popular Japanese ETFs Day Trading Best Journals Trade Expectancy About TraderMike Market Recap Archives.
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