Customer Reviews

The Complete Guide to Using Candlestick Charting: How to Earn High Rates of Return — safely

5 star:		(3)
4 star:		(2)
3 star:		(3)
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I enjoyed reading this book, however I believe this is one of those trading books that experienced traders will criticize because it is to basic and simple and to no help to them, they will rank it one or two stars. At the same time I believe this is a very readable, and useful book for new traders who will enjoy it and learn from it and rank it four or five stars. So with that said I gave it three stars, it is just an average beginners book for new traders.
This book tells the brief history of candlestick charting that started in Japan and was brought to the U.S. by Steve Nison. It shows how the candlesticks are constructed and how to read them. The book tries to convey how candles are read through the psychology of market participants and how this is reflected in the charts. The book does a great job going through each specific candlestick type like the doji, spinning top, and evening star. It also expands into how the candle sticks make patterns when they show up with each other in certain ways and how these patterns of bullish or bearish. The book touches on the importance of not trading based strictly on candle formations but looking for confirmation by combining them with moving averages, support and resistance, trend lines, Bollinger Bands, and Oscillators. I really like that the book added in chapters on trading psychology and money management these are by far the true determinants of success in trading. I also like that the author introduced the readers to Renko and Kagi charts. I have read almost 200 books on trading and investing and this is the first time I have been introduced to them, they were very interesting.
Beginners buy this book, it is a great starting place to pick up the basics on candlesticks and trading, experienced traders you already know this stuff,skip this book and go reread Steve Nison or Alexander Elder.

For a complete beginner like me, this book is an excellent resource to learn Candlestick Charting from start to finish. It begins with the history and origins of Candlestick Charting, outlines all functions and relevant theories, and then delves into the heart of the matter: how to apply this knowledge to make money on the stock market. It's not dense mathematic formulations, either--it's approachable solutions to real-life economic trends and analysis for people of all trade skill levels. The charts are a little scary at first, but the author thoroughly explains what's going on and how to read them, so that when you turn back to the charts as an example later, they increasingly make sense to the novice analyst.

These theories are all just that, however. I wouldn't expect to close this book and start making tons of cash. The author is careful to emphasize the chance and analyst responsibility, which are the two external factors. However, this is an exhaustive and comprehensive foundational guide, so by the time you're done studying, you will be thoroughly prepared to begin charting as supplemental resource when making decisions in the stock market.

Although I did not believe in candlestick charting, I bought this book to see if I am missing anything. I found the book very well organized and very well written.

Candlestick charting can assist in understanding what is going on in the market, but I have always found it hard to come up with a very profitable trading strategy based on it.

I would recommend this book to anyone interested in candlestick charting.

The book works well as a refresher course if you already have prior knowledge of candlestick charting, as it gives you a decent spectrum of candlestick patterns with their descriptions and psychological meanings.

The problem with the book however, lies in how the material is presented. I believe the book is intended for beginners new to candlesticks, but there are precious few charting examples to help a novice in seeing what these patterns look like in actual price charts. Without examples, a novice is going to have a much harder time incorporating these candlestick patterns to memory as well as have trouble recognizing them when they occur. The material also moves quickly in some areas from touching on the basics to advanced set ups which may lose/confuse those who are new and trying to keep up.

If taken as an advanced guide, there are several areas that you'll want to breeze/skip over because they are very basic and clearly intended for beginners to the investment/candlestick world.

That's the basic problem of the book in a nutshell. If one is looking for an advanced guide or beginners guide, there are more comprehensive books out there that are better targeted to ones desired skill level.

Ultimately, as I said earlier the book works best as intermediate/advanced candlestick charting refresher guide. It get's additional credit for touching on other charting styles such as Three-Line Break, Renko, Kagi, and Candle Volume which I haven't seen in other books.

It also has chapters on trading psychology and money management which are good for rounding out the discussion for beginners, but intermediate/advanced folks most likely know this by now- although it never hurts to be reminded of good trader habits/discipline.

So far I only saw 3 real life sample charts of candlesticks that are combined with indicators (such as MACD, stochastics etc). The first one near the Doji, the remaining 2 near the end of the book. There simply are not enough charts for study. The author told us to practise reading candle charts (combined with indicators) ourselves. That's ridiculous. If one is really so good at interpreting candlestick charts (combined with indicators) then what's the point of buying this book ? I like those books that have lots of real life charts ,or even have a study guide with answers, such as Alex Elder's Study Guide for Come Into My Trading Room , Trading For a Living etc. But unfortunately Elder's books don't cover candlesticks AT ALL.

Who would have thought that a guide to Japanese Candlestick Charting could be intriguing enough to captivate the uninitiated, yet absorbing enough to gratify the sophisticated investor?

The Complete Guide to Using Candlestick Charting fills the bill, highlighting both fundamental principles and high-level strategies. Incorporating case studies and Safety Zone timeouts into the fast paced, refreshingly jargon-free dialogue, it furnishes unique insight into the bullish and bearish markets, with tips for turning them to your advantage.

Armed with the book's astute principles (including the sage advice never to trade with money you can't afford to lose), your future in futures, or any other investment marketplace, is in your hands.

Using Candlestick Charting is a book for those who are interested in stocks and doing business deals. And coming from somebody that has never learned anything about candlestick charting, it was definitely a learning experience and something actually everybody should know, in case interested in making more money. Stocks can be tricky, and so can the different ways of earning money through stocks. The great thing about this book is it starts off telling you all about the different terms, and how to use them in terms of making money. Candlestick charting is not making money with an actual candlestick, in case you were as lost as I was. It actually refers to the rate of the money going up or down, and how if the charts are shaped in a candlestick way, it would be the best time to invest money, because it's bound to just keep going up. The Japanese are actually the ones to invent this method, and it's one of the best methods to use when predicting when the stock market is at it's peak.

After learning about the history of candlestick charting, you start to learn about more in-depth details about how to use the chart, and the different ways of going about doing it. This book is also instructive enough to provide pictures of the ways of using the chart, so that you can get an actual visual of how to use it when doing stocks. It's very informative and detailed, so there won't be one step that you will miss. There are also different chart names such as Renko and Kagi, that both help you in the same way, just in a different sort of way. The book goes into the history of each one of the charts, how they have changed and what they can do to help you make money through stocking.

I would rate this book a four out of five stars. It was great in detail about how to earn money through stocks, and very easy to learn. However, I think that they went a bit too into detail about the history of the stocks, rather than focusing on how to use those charts to earn money. Candlestick Charting is a great book to read when learning about stocks though, and I would recommend it to anybody interested.

The Complete Guide to Using Candlestick Charting is a very detail oriented guide for serious investors. Mr. Northcott explains the meaning of market patterns through the utilization of this ancient Japanese method of predicting the rise and fall of markets.

This complex book offers theories, principals and techniques that will aid investors in all variations of the economy. The explanation of this form of market analysis is combined with suggestions for sound investment practices.