candlestick books

the Candlestick Course - Nisson

I've read lots of basic candlestick info on the web, but this book went into, how to read a candlestick chart. Support and resistance, trendlines, risk/reward of a potential trade, when a hammer has no strength etc. Very good for beginners and people not making a profit! 🙂

happy trading

pa
 
PAINTACE said:
the Candlestick Course - Nisson

I've read lots of basic candlestick info on the web, but this book went into, how to read a candlestick chart. Support and resistance, trendlines, risk/reward of a potential trade, when a hammer has no strength etc. Very good for beginners and people not making a profit! 🙂

happy trading

pa
Click to expand...

Bought both Beyond candlesticks by Nison and his training course book.
I have always looked at candlesticks and had a basic knowledge of how they work. Having spent the last few weeks digesting them, Im hooked, They certainly give another dimension to S/R and reversals.
Another great tool in my arsenal.
Anything that goes into greater depth?
Thanks guys.
Regards
Dave in sunny Colchester (ok ok I was lying about the sun)
 
IMO candlestick analysis should be kept fairly simple. Just the major morning/evening stars, doji's, cloud cover, harami's etc. I have yet to meet anybody who made money trading candlesticks patterns alone. Most people look at candlestick charts as they offer more information at a glance on price action and then apply the same rules they would if they were looking at a bar chart..
 
twalker said:
IMO candlestick analysis should be kept fairly simple. Just the major morning/evening stars, doji's, cloud cover, harami's etc. I have yet to meet anybody who made money trading candlesticks patterns alone. Most people look at candlestick charts as they offer more information at a glance on price action and then apply the same rules they would if they were looking at a bar chart..
Click to expand...

Hi twalker
yes I understand what you are saying but part of my enjoyment of trading is the amount of in depth study there is available to todays trader.
I read my first TA book about ten years ago and am still loving the fact that there is always new angles to study and enjoy its all part of the fun (well for me it is).
my number one rule is and always will be to follow the plan to its conclusion and move on.the first rule of my plan is stop losses, and always will be
Ta for the input I appreciate it
Happy trading
Dave
 
Yes twalker i doubt anyone would have a strategy that was based on candlesticks alone! And in Nisons books he does point out that candlestick patterns should be used with support and resistance, he runs through sections with indicators, trendlines, moving averages and volume. So from the guy who bought candlestick analysis to the western world, he does confirm that using solely is not preferred. IMHO I like to use candletsicks and take into account where the candles are in the context of the channel and trend. For example, a bearish candle in the middle of the trend would be less important than one at the top of a channel, trend or resistance area.
Thanks for reading
 
I think the other thing Nison said was that candles can never give you a target price, still I have warmed to candles and they bo seem to make the action stand out, mind you 5/6 years ago I loved fibs, elliot wave lol I think in my time I have been through most things.....most enjoyable
 
I am actually the proud owner of a signed copy of Nisons first book, he wrote "May the candles light your way as they have mine". ( any bids ? 🙂)
They certainly form an essential part of my trading desktop now as I feel decidedly uninformed with any other type of chart, despite my last post.
 
twalker said:
I am actually the proud owner of a signed copy of Nisons first book, he wrote "May the candles light your way as they have mine". ( any bids ? 🙂)
They certainly form an essential part of my trading desktop now as I feel decidedly uninformed with any other type of chart, despite my last post.
Click to expand...

I think you are a bit like me I would be lost without my books...a constant sorce of joy, never stuck for reading material........thats me finished for the day good hunting
Regards
Dave
 
Steve Nison is good. You can sign up for some of his free things at candle charts . com
His books are great but personally I found it hard to read any one of them to the end. That said they are excellent referance books in case you need to check up on something.
He actually is credited with bringing them to the west.
 
Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits
by Stephen W. Bigalow
I have read a couple candlestick books and found this is the best one and easy to read.
 
You must log in or register to reply here.

Similar threads

G
Candlesticks
Replies
11
Views
3K
HawkTrader
HawkTrader
W
books
Replies
3
Views
2K
shulink
S
T
Candlestick charting patterns for stock trading?
Replies
16
Views
5K
tokyojoe
tokyojoe
D
Candlesticks
Replies
2
Views
3K
dingers
D
newspreadbetter
Is there a most reliable candlestick?
Replies
4
Views
2K
NVP
NVP
Back
Top