Customer Reviews

High Profit Candlestick Patterns

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In his first book, "Profitable Candlestick Trading", Steve Bigalow reduced a large number of Candlestick signals to just a few Major signals that show up on charts everyday. He explained each one completely and prepared any investor to be profitable in the markets. When Bigalow explains a Major signal, he doesn't have to use an example on a chart from 5 or 10 years ago. The signals are so plentiful that he can easily show you examples using charts from today, yesterday or a month ago!

While I did well with just the Major signals, I found that his new book, "High Profit Candlestick Patterns" highlighted repeatable patterns that show up in charts time after time. The Scoop, J-Hook, Belt Hold and the Cradle patterns are daily staples that I can use to produce those extra large profit trades. They are "early warning" patterns that let me know that a trade is developing. After I enter the trade, the patterns are road maps of how the trade will progress. As the trade nears the end, the patterns offer alerts as to when the trade is ready for profit taking.

As an example, many investors will enter a trade, cycle through it and once they are out, they forget about it. It turns out that nice runs are ended when investors take their profits and cause a pullback.........or is it major reversal? In "High Profit Candlestick Patterns" the "J-Hook" pattern helps me decide if it's pullback or reversal. Many pullbacks offer a second chance for investors who missed the first run to get in on the second. I, on the other hand, can get a second bite of the apple by getting back into the play using the J-Hook once it confirms a pullback as opposed to a reversal.

Not to be missed is the discussion about Moving Averages. You may be familiar with Moving Averages but you haven't taken full advantage of them until they are combined with the Major signals. Steve shows how to use the probabilities of Support and Resistance at key moving averages to your advantage.

Since one can only make "so many" trades, and so that I don't "overdose", I've settled on using the J-Hook pattern along with plays developing around the key moving averages as my main focus. There is enough usable material in the book to satisfy the needs of any trader or portfolio size.

Trade long enough and you'll be offered many "secrets" that are sold for $47.00, $97.00, on up to infinity and once you have them, you find they work once or twice a year, or only in specific markets or maybe not since 1925. All that ends with "High Profit Candlestick Patterns". Once and for all I can look at a chart and have a high percentage of confidence about when a good trade is developing. Add to that the peace of mind that comes from knowing where the trade is going and when it's likely the time to take profits or let them run.

The author unselfishly shares the practical tools necessary to make a high percentage of successful trades along with how to minimize the expense of those that fail. (Yes, you'll have some of those too!)

Get this book! I have both of them in my library and they totally changed my perception of how to profitably read a chart using Candlesticks.

Over the years, in my quest for the Holy Grail of trading knowledge I've bought some great books and courses including:
-William O'Neil's "How to Make Money in Stocks" and his follow up "24 Essential Lessons for Investment Success";
-Toni Turner's "A Beginner's Guide to Day Trading" (and her follow up book);
-John Bollinger's "Bollinger on Bollinger Bands";
-the "TechniTrader Stock Market Course"; and many many others.

They were all well written and chock-full of information, however, when it comes to cutting to the chase and getting right down to teaching a SIMPLE and straight forward strategy for stock picking, letting your winners run, and cutting your losses short, none of them can hold a candle to Stephen Bigalow's "High Profit Candlestick Patterns".

No longer do I look at the screen and wonder what the heck is going on. Stephen Bigalow's training gives you the power to understand what the market is telling you and to get in and out of trades based on simple, proven, non-emotional common sense principles. I reccommend Stephen Bigalow's "High Profit Candlestick Patterns" without hesitation. It is simply the best "How To" book on trading that I've ever found.

I started making money in the stock market after visiting the authors website (http://www.CandleStickForum.com)and reading his first book. I had looked at candlesticks before and read other books, but it never clicked with me until reading Profitable Candlestick Trading. I had pre-ordered his new book and received it in time for my holiday reading. You don't have to have read the first book to understand High Profit Candlestick Patterns, but it makes for a smooth transition. The new book is full of annotated charts and criteria lists explaining all the candlestick patterns and the investor psychology behind them. If you're looking to get into trading or already an experienced trader, investigate and learn candlesticks using this book. It will all make sense AND money!

I stumbled across Stephen Bigalow's website and books by accident. After reading many posts on www.candlestickforum.com, I decided to spend my Christmas break reading his two books. The better of the two is High Profit Candlestick Patterns because it has more useful information to me as a trader.

This book is written for swing and short-term traders. It highlights the important reversal signals and their confirming indicators, like stochastics, trend lines, and moving averages. For the new trader, all the indicators can quickly become a blur. This book zeroes in on only those indicators one really needs to develop reliable entry and exit strategies. As Bigalow says and demonstrates throughout, using candle signals is not rocket science.

For me, the most important chapters were on using candles for options trades and the exit and entry strategies. These were worth the price of the book, in my view. Other chapters spoke my language of the common trading indicators and bullish and bearish price formations. They all come together quite well here.

I highly recommend this book for brand new traders (it will save you lots of capital in your trading accounts!) and experienced traders who have come to rely on multiple indicators all pointing in the right direction for "confirmation." I rate it a 4 because of some typos with chart notations (and there are plenty of charts!) and sometimes needless repetition. Overlooking these, it is a 5.

This book teaches you the best way to make money in the markets = confluence of levels combined with price action triggers. He teaches you almost everything on the market's technical behavior.

The naive part is that he uses, in my humble opinion, old school indicators - like 50SMA and 200SMA. Also, he relies on stochastics as an oscillator to show him overbought and oversold conditions. Of course, I wish this were true but I think in today's more volatile conditions - there should be more than that.

So what does there need to be? I don't know, but let me tell you one important thing: Just because you see tons of charts on his book with stochastics on overbought and then prices immediately pulling back, don't let that fool you into thinking that's how the market is _always_ going to behave.

It's an excellent primer because this is how discretionary traders should trade, simple yet effective, but sometimes I think it's a bit too much on the simple side.

4/5

My investment returns improved dramatically after reading Mr. Bigalow's first book, "Profitable Candlestick Trading." The manner in which he described how to use candlestick signals profitably helped me finally understand what had previously been a confusing investment method. He made it easy to learn how to use the signals correctly. This book is even more impressive. His illustrations of how to use the candlestick signals in
trading patterns and applied to other technical indicators makes finding high probability trades very easy to identify. He takes the candlestick investing method even further by illustrating how to set up affective stop loss procedures and common sense entry and exit strategies. This is not a repeat of his first book. The new knowledge he adds in this book is a valuable complement for learning candlestick analysis. As an experienced
investor, I found this book to be one of the most comprehensive accumulations of profitable investment practices put into a simple format. I greatly appreciate Mr. Bigalow's insights. This book is a must read for investors that are serious about improving their investment returns. I would strongly suggest reading his first book and then this book. It is a very powerful 1-2 punch for learning how to invest correctly.

If you only buy one trading book this year, this should be the one. Not only are the highly profitable candlesticks identified, the psychology behind them and why they work is explained. The use of Stochastics as a confirming western indicator to pick the highest probability trade is also explained.

The chapter on entry and exit strategies alone is worth the price of the book; as is the chapter on stop loss strategies.

As one reviewer has pointed out the scoop and J-hook patterns are not candlestick patterns. They are profitable trading patterns that traditional candlestick patterns can help you spot as they are developing in order to make profitable trades, which is what it is all about. The same is true for the cradle and fry pan bottom trading patterns. How to spot these patterns and more importantly how to trade these patterns is explained in detail in this book. Once more, this section alone is worth the price of the book.

It is an easy to read book with specific details on how to use candlestick patterns to make high probability, high profit trades. Reading this book and following its recommendations could significantly increase your trading profits. Buy it now!

If you read Steve's first book, you will get a whole lot more from this one. Steve's style has enough redundancy to reinforce his point without over doing it.
As far as I am concerned this should be the "Primer Bible for Candlestick Analysis". With Steve's descriptions of the profitable patterns, you get a great understanding for the investor psychology going on when these patterns form. Tieing it with western idicators such as moving averages, trend lines, gaps, etc. just makes so much sense.
The two chapters contributed by Tina Logan(Profitable Trading Insights) & Bill Johnson(Options trading) was such a bonus also.
This one stays near my desk for a regular reference.

Excellent book on how to trade using candlesticks along with other indicators to maximize your probability of success. He focusses on just 12 major candlesticks which will give more than enough signals. Then intrduces high profit patterns, support and resistance at major moving averages, trendlines, ect. A key point is when also learning when to get out. One point he made on looking for the end on the move saved me from a nasty correction before I was even near finished with this book. This book will help you make money!

Trading the stock market is not easy, rather looking at it positively, trading the stock market is easy if: 1. you can follow the direction the big boys are taking. 2. you learn from a knowledgeable tutor. "High Profit Candlestick Patterns" by Stephen Bigalow is a book you must read. It explains candlestick trading with an important difference. Candlestick Analysis shows the traders' sentiment and this is all you really need to know to be profitable. If you learn to read what the candlesticks are telling, you have made a good start. You will realize what stocks to follow and when to enter and exit a trade. Most beginners loose money on the stock market either because their timing for entering and exiting trades is wrong or because they are chasing the wrong stock. Candlestick analysis tells it all and Stephen's latest book explains it very clearly with an important difference. When I decided that I wanted to learn to trade Stocks I went through many books and examined umpteenth different and often complicated strategies but I came to the conclusion, after having spent time and money, that Candlestick Trading makes plenty of sense. Quite by chance I came upon "Profitable Candlestick Trading" Stephen's first book and I never looked back. Learning Candlestick Analysis is not difficult. It needs minimal effort, but it requires practice to become proficient like every thing else. Stephen Bigalow's book "High Profit Candlestick Patterns" is an absolute must if, like my self, you have decided that candlestick analysis is your chosen method of trading. It highlights the most profitable candlestick signals and patterns by combining candlesticks with some basic western analytical methods. This enhances the candlestick patterns by turning the probabilities appreciably in your favor. Read as many books as you will but do not miss Stephen Bigalow's latest book "High Profit Candlestick Patterns" and his first book "Profitable Candlestick Trading". They are the two most important books in my library written by a very knowledgeable tutor and trader.

Joseph Psaila-Manche'