candlestick books

PAINTACE

Junior member
34 0
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
 

techtrader

Member
95 2
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

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)
 

TWI

Senior member
2,532 253
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..
 

techtrader

Member
95 2
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..

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
 

techst

Active member
243 3
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
 

techtrader

Member
95 2
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
 

TWI

Senior member
2,532 253
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.
 

techtrader

Member
95 2
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.

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
 

magten

Member
78 0
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.
 
 
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