Candlestick Charting For Dummies [Paperback]

Russell Rhoads (Author)

Book Description

ISBN-10: 0470178086 | ISBN-13: 978-0470178089 | Publication Date: April 7, 2008 | Edition: 1

Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! Candlestick Charting For Dummies sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns — and pounce!

This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, you’ll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. You’ll discover the advantages candlestick has over other charting methods and learn the secrets of combining it with other technical indicators. You’ll also get familiar with different ways to display and interpret price action, including trend lines, support levels, resistance levels, moving averages, and complex indicators. Discover how to:

• Construct candlestick charts
• Identify and interpret basic patterns
• Trade in bull and bear markets
• Work with complex patterns and indicators
• Avoid False signals
• Understand the components of market activity
• Deal with bullish or bearish single-stick, two stick, and multistick patterns
• Identify and interpret complex patterns
• Use indicators to determine the market
• Outperform the market in any conditions

Don’t know whether to grab the bull by the horns or just grin and bear it? Read Candlestick Charting For Dummies and get it right the first time.

Editorial Reviews

From the Back Cover

Packed with charts and real-world trading examples

Translate candlestick patterns and use them to predict market behavior

Want to gain a trading edge with candlestick charts, but find them confusing? No worries — this friendly, practical guide explains candlestick charting and technical analysis in plain English. You'll see how to work with common candlestick patterns and analyze data to make smart trading decisions. You'll also combine patterns with other indicators for more profitable trading!

Discover how to:

• Construct candlestick charts

• Identify and interpret basic patterns

• Trade in bull and bear markets

• Work with complex patterns and indicators

• Avoid false signals

About the Author

Russell Rhoads is a trader and analyst for Peak Trading Group in Chicago. His career in trading and market analysis covers over 17 years. He has a BBA and MS in Finance from the University of Memphis and has done graduate level work in Financial Engineering at the Illinois Institute of Technology. Russell also holds the Chartered Financial Analyst designation.

Product Details

• Paperback: 360 pages
• Publisher: For Dummies; 1 edition (April 7, 2008)
• Language: English
• ISBN-10: 0470178086
• ISBN-13: 978-0470178089
• Product Dimensions: 9.2 x 7.4 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (17 customer reviews)
• Amazon Best Sellers Rank: #107,079 in Books (See Top 100 in Books)

More About the Author

Russell Rhoads, CFA, is an instructor with the Options Institute at the Chicago Board Options Exchange. He joined the Institute in 2008 after a career as an investment analyst and trader with a variety of firms including Highland Capital Management in Memphis, TN, Caldwell & Orkin Investment Counsel in Atlanta, GA, and Balyasny Asset Management in Chicago, IL. He is a financial author and editor having contributed to Technical Analysis of Stocks and Commodities magazine and edited several books for Wiley publishing. Also, in 2008 he wrote Candlestick Charting For Dummies and is the author of Option Spread Trading: A Comprehensive Guide to Strategies and Tactics released in early 2011.

He is a double graduate of the University of Memphis with a BBA ('92) and an MS ('94) in Finance and also received a Master's Certificate in Financial Engineering from the Illinois Institute of Technology in 2003.

In addition to his position with CBOE, Mr. Rhoads serves as an instructor for The Options Industry Council.




Questions / comments / suggestions - please contact me at [e-mail].

Customer Reviews

Most Helpful Customer Reviews

37 of 38 people found the following review helpful:

5.0 out of 5 stars One of the best books I've read on charting and technical analysis, February 17, 2009

By 

Cylack Jones "Cylack" (Durham, NC USA) - See all my reviews

This review is from: Candlestick Charting For Dummies (Paperback)

I'm just learning how to trade options. I was never a technician since I relied on fundamental analysis. I've read about 5 books so far on charting and technical analysis and this book was the best. Other books tended to bog me down with tons of extraneous details. This books presents the essentials in a concise manner. The author here first goes through all the major candlestick patterns. He then explains what he considers the most important technical signals - Moving average, Wilder's RSI, Stochastics, and Bollinger Bands. The last part of the book is integrating everything together with several mini-case studies.

In summary, a must read for someone starting out in candlestick charting and technical analysis.

20 of 20 people found the following review helpful:

4.0 out of 5 stars Another good Dummies book, December 15, 2009

By 

R. Trejo (Huntington Beach, CA United States) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Candlestick Charting For Dummies (Paperback)

This book was an excellent source of the information I was looking for. I wanted to learn more than just the fundamental concepts of candlestick charting and the book exceeded my expectations. I was afraid the book would be overly technical and I would get lost in the jargon. Pleasantly, the book lived up to my previous "Dummies" experiences. I probably have somewhere around 15 titles of the Dummies books. It is a great way to scratch the surface on something and decide if it's worth heavily investing alot of time and more money in.

In this case, the book does much more than scratch the surface. I am only a couple of chapters into it, and I already "feel" like an expert on reading candelsticks and predicting price movements and patterns. The one thing I thought that stood out above and beyond for me is the ability to skip around to different chapters without being lost. It is not a cover to cover read. You can extract just what you need out of it and move on. And that is exactly what I am doing. I also really appreciate the real world applicability. You can literally take what you read with a computer in front of you and immediately apply it to test and gauge your level of understanding. Anyone interested in technical analysis and how candlestick charting relates should start here. Since I have not read other Candlestick books, I cannot compare how this ranks with others, but for me - wanting to learn Candlestick charting without spending tons of money and buying overly technical books, this was great.

19 of 20 people found the following review helpful:

5.0 out of 5 stars Terrific, April 11, 2009

By 

J. Weir "trying to get orgainized" (Centreville, VA United States) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Candlestick Charting For Dummies (Paperback)

This book is a must have for anyone wanting a clear explanation of the candlestick patterns and how to use them. It is illustrated with pictures and charts that clearly show the information being taught-- what to do when things go right and where to set your stops to protect your cash should the trade go wrong. This has the information you've been looking for!