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108 of 111 people found the following review helpful
on September 14, 2008
I had already read this book and Steve Nison's Japanese Candlestick Charting Techniques.

If you want to buy a book about candlestick both books have the same content about all the candlestick patterns and the descrition about them.

Japanese Candlestick Charting Techniques:
- has chapters about the relationship of candlestick with Volume, Support and Resistence, trendlines, Indicators (MACD,IFR,etc). This is VERY GOOD. Realy good.
- It has many examples discussed too. More than this book.

This book has:
- a chapter about Trading with Candlesticks that has content about trendlines, supports, etc.
- a lot of statistics of the patterns.

One great difference is that this book is easier to use. It has a standardized format for all the patterns with Commentary, Rules, Psychology Behind the Pattern, Flexibility, Pattern Breakdown, Related Patterns, Examples. This is VERY GOOD. It's only search the pattern and read what you want to know. It has a table with a resume about the pattern too.

Steve Nison's book isn't objective and it is not hands-on. You are reading an example, but... where is the picture?? You have to turn the pages searching the picture and them back to the curretly page to keep going. To do that for more than 300 pages is very, VERY BAD. Really. Trust me. You need to have a lot of patience.

Well, if you read one of these books, don't worry: you will know all about candlesticks. But this book is easier to use and to consult.
And it is cheaper than Steve Nison's book.

Abrax!!!
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69 of 72 people found the following review helpful
on April 17, 2007
I am quite surprised at how useful the book is for my trading. I'm currently a day trader that trades momentum. I have been starting to use Candlesticks in the last year or two to try to enhance my entries and exits. My profitable trade percentages are increasing and my trade exit timeliness is getting better (thanks to candlesticks). The whole candlestick concept was hard for me to swallow but the more I got into it, I realized it was a visual pattern recognition concept. The book does a great job of explaining all of the useful candlestick formations as well as backing the explanations up with examples. I really liked the second half of the book that did a very thorough statistical analysis of the candlestick signals over multiple timeframes. I learned alot from the book and will add its extensive data into my stock trading techniques. Well done....
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28 of 30 people found the following review helpful
Great book, great content. You really need to absorb the direction of the method by reading this book 2 - 3 times. This isn't because of poor writing. This book is well written. It is due to the mindset required to fully understand the patterns for a novice like myself. I did find that it is one more tool to use to validate a trend or reversal. it has helped me with more than one profitable decision.
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16 of 17 people found the following review helpful
on November 22, 2008
This is not a book about theory and history of candlestick charts. He doesn't waste your time telling you what he thinks. Instead, this book gives specific results of candle patterns based on back-testing done by the author. He clearly defines each pattern discussed and then % of likelyhood of a reversal, continuation, and so forth. This is the kind of information that can be applied to your trading system to improve your profits.
Also look at Tharp's book, "Trade Your Way to Financial Freedom".
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19 of 21 people found the following review helpful
on March 8, 2007
Great book if you are learning about candlesticks as well as chart patterns: Reversal, continuations, etc. Detailed explanation, statistics and more...

I found it really helpful.
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15 of 17 people found the following review helpful
on December 12, 2010
Guys,

I spent an hour in the book store comparing Nison's book and this one.

I should say that this book had more information than what Nison provided and it came at half the cost.

No brainer that this book was much more preferable and hence I bought it.

Having read the book, I can definitely say that my decision wasn't wrong.

I got all the knowledge desired on candlesticks with good visual pictures.

Go for it!

Thanks,
Chintz
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10 of 11 people found the following review helpful
on April 27, 2008
Mr. Morris has painstakingly explained an encyclopedia of candle patterns along with statistical data which helps to choose the most profitable and the most recurring candlestick patterns. Throughout the book, he has emphasised on the practicality of candlestick charting and to what extent should it be used. One of the major important features is the "Candlestick filtering" technique by the help of our present-day Western World technical indicators. The same helps to extract the best from the East and West.

I would suggest to Mr. Morris to add a section of Real time Charts so as to enable his readers to find out or pinpoint specific candlestick patterns (learnt from the book)and to understand to what extent the readers' surmise was correct.
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15 of 18 people found the following review helpful
on June 9, 2007
Morris' explanation of the candlestick system for analysis of stock price trends is very thorough and easy to understand. Remembering all of the patterns is a bit overwhelming, but you do begin to develop a sense of what the candlesticks are saying that eventually makes understanding the patterns easier.
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8 of 9 people found the following review helpful
on November 14, 2009
This 513 page large format softcover book thoroughly explains candlestick analyses of stock and commodity activity charts. It is not a book you can read over the weekend and begin using Monday. It requires serious study. The author dedicated much energy in learning about this form of market analysis that originated in Japan over a hundred years ago, and even traveled to Japan to interview master traders who utilized the method. From the preface: "This is a book that not only covers the basics, but offers more detail into exactly how to identify and use the patterns." It does.
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3 of 4 people found the following review helpful
on June 18, 2013
The book has an exhaustive list of candle patterns with explanations and statistical data. You will notice fairly soon that there is quite a bit of repetition, as well as slight variations that are presented as separate patterns. Overall the effect is to make the book seem cluttered, and it makes the broader picture more difficult to comprehend. However it did help me to better understand and identify candles that signify potential trend changes.

The author states that the patterns are intended to be used only with daily charts, and are to be seen as reliable signals for trading time frames of one or at most a few days. However the most fundamental patterns, I have found, can be used with weekly charts, which is my preferred time frame for trend trading. Overall the book is interesting, but not that helpful, and to me would have gained by subtraction.
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