Customer Reviews

Trading Applications of Japanese Candlestick Charting (Wiley Finance)

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This book is a lead on for you to buy the authors software program. The software program is worthless and doesn't work. You would be better off spending your money on lottery tickets. DON'T BUY THIS BOOK!

I also have Gregory Morris, Candlestick Charting Explained published by McGraw-Hill. Morris's book was good, Wagner's book is better. Each of the authors present an analysis of each candlestick and the probable forecast of the future stock/commodities/market trends. While Morris provides interesting background data on each candlestick, the symbols are rather small. Wagner's efforts are directed more toward actual application...using the candlesticks from day to day in our attempt to fathom the next stock or market move. Wagner's charts are large--four symbols to a page. Wagner goes on to advise the reader of the need to run certain other programs (Fibonacci numbers, Bollinger bands) to confirm your interpretation of the meaning of the candlesticks. Where Morris provides a table of specific candlestick frequencies of occurrence, Wagner provides many pages of software code. I applaud the author's intention to enable us to utilize a computer in the process of reading the specific candlestick from a bar chart. However, the code appears similar to what was taught in college in our first class in computers (basic)? A code using Excel or even Lotus 1-2-3 would be more helpful. The book is almost outstanding.

Wagner explains candlesticks in depth by illustrating different candlestick patterns. He analyze candlestick patterns in different markets such as commodities, currencies, and equities. Very excellent book to learn how candlestick shows the psychology of the market and possible reversal or continuation in trend.