Steve Nison who is recognised throughout the trading community as probably the guru for candlestick charting doesnt dare to make the claims that this person does. Based on that I would be cautious of the claims made.
Jeez! £1,200+ for a one day workshop. I bought his book
"Profitable Candlestick Trading - pinpointing market opportunities
to maximize profits" from Amazom back in April for £42.78p.
I reckon that this book contains the basics of his 1-day w/shop,
all you need is a fair bit of experience actually putting your
money down to finish your education. He's also got a W/site www.candlestickforum.com - have a look at that.
I also purchased Bigalows Book and agree with Reddragon that it it probably would present most of his seminar ideas in the book. I paid £48 for mine from Amazon UK and IMO was well worth it.
By the way Amazon UK have lowered the price to £33!!
Bigalow’s book comes with a trading strategy built in. It claims that if the rules are followed and concentrating on major Candlestick Signals only (mainly reversals), one can expect a strike rate of 80%. Now some of these rules include determining strength of the signal, overall sector direction and watching the price action of the stock the next day etc etc.As I work full time, watching the price action of the stock on the opening of the next day is not something that I can do, so whether his claims are true, it is not something that I can realistically validate.
But his trading strategy did give me a few ideas for further research, and I am looking to combine what I have learned from his book with another area of market analysis that I am interested in and may complement it (fingers crossed!!). I am currently awaiting the arrival of a few books from the U.S so as I can begin studying this area.
I recently did a candlestick course with Steve Nissin. He emphasises that candlesticks should not be the only tool you should use to trade ie look for other indicators to confirm the candle signals.
Paper trading using basic support and resistance with EOD candle signals have not given results I would have hoped for.
Courses like this one being advertised that offer the holy grail of investing should be avoided. If it is easy enough to cram into a one day seminar everyone would be doing it. It just doesn't add up. And this website is a stereotypical web based hard sell. Could be selling the latest diet fad, they all use the same language and tricks.
I dont agree you get the same from a book and a course though. Having someone talk through a chart provides a lot more information then you are ever going to get from a book. Its just whether this additional information is worth the extra £1000. I think in this case probably not.
Yes - i agree with neil that scratching around for info. and
gaining benefit from others who post here, plus learning from
your own mistakes is the way forward. So, in
answer to GURMAIL my accuracy range isn't brill but that's
because i haven't got enough experience to explot the
candlestick signals. As Chartman has stated you have to get
to really understand all the nuances of an indicator(s) before
you can really profit from their use.
As for spending £1,000+ on a course?, my view is that i prefer
to split that into 4 lots and then open a 500 point bank @50p
per point and learn from your mistakes. From my own experience
there is one heck of a jump from paper trading - which is vital -
to actually putting your money down. I reckon by the time i'll be
replenishing my account for the 4th time - i'm still on the 1st lot -
i'll have learnt a lot more than from a short course.
Morris’s book Candlestick Charting Explained is a good book on Candlestick methods – not least because it shows some fairly comprehensive statistics on the reliability of candlesticks patterns. You could also try one of Steve Nisons books hopefully, avoiding Steve Bigalow's seminar -and still come out with enough change for a decent holiday for two in Hong Kong.
Arthur Hill also used to take the class on Candlesticks at STA and he has his own subscription based website at TDTrader , which you can trial on a monthly basis.
Err, some of this info maybe a bit out of date, but you get my drift?!