The Candlestick Course
Author: Steve Nison, Marketplace Books
List Price: $59.95
Our Price: Click to see the latest and low price
ISBN: 0471227285
Publisher: John Wiley & Sons (23 May, 2003)
Sales Rank: 16,774
Average Customer Rating: 4.25 out of 5
Customer Reviews
Rating: 3 out of 5
Frustrating
The content of this book is good. My criticism is that the layout is badly planned. You have to refer to charts on different pages, then look at the questions on another different page, then refer to the answers on another different page etc. Lots of flipping pages back and forth, kind of ruined it for me.
Rating: 4 out of 5
Shooting Stars and Belt Holds and Dark Cloud Cover
This is a great basic primer on candlestick charting techniques by the guy who allegedly introduced it into the west fifteen years ago. All the basic one, two, and three formations from spinning tops and high wave candles to piercing lines and cloud covers to three soldiers, harami cross and evening doji stars are there. It is pretty amazing that candlesticks are so much simpler but contain more information than standard western tick and point-and-figure charts. Among the things I learned were that hammers must have shadows twice as long as the real body, and the way windows (gaps) are used for support in Japanese trading. The book is arranged with quizzes, and while repetive (and there are a couple of minor mistakes, including on one of the questions), Nisson really drives home the message. Among the things he emphasizes are that candlesticks are best for signaling reversals, and that they are best supplemented by western techniques for price targets and confirmation. Although not quite a complete novice, I'm a slow reader but it only took me three hours to read this in the library. The last part of the book takes you through a chart and points out the formations-dispelling the common critique that technical analysis is completely subjective. Highly recommended and quite a contrast to the information overload of many other trading books.
Rating: 5 out of 5
Outstanding book! A must have for any technical trader
I'm reading this book now and it's amazing how much you can learn in so short a time. This is a small book but the information and the way it's presented is outstanding. I wish all of the books that required study put their material in this format. Each section has a quiz to determine that you understand the material. Not only that but detailed answers to each of the questions is included. You're getting double re-enforced learning. While it starts with the basics of candlesticks the book concludes with real examples of applying these patterns. What's really the kicker is that Steve shows how he integrates Western charting techniques with candlesticks to greatly improve the odds in trading. I don't expect to be a trading wizard after reading through this book but I do expect my trades will be thought out more thoroughly with the right techniques.
Get this book even if you don't use candle charts now.
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