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The Complete Guide to Using Candlestick Charting: How to Earn High Rates of Return — safely
The Complete Guide to Using Candlestick Charting: How to Earn High Rates of Return — safely
by Alan Northcott
Edition: Paperback
Price: $13.46
36 used & new from $8.59

3.0 out of 5 stars Targeted Experience Level of Book is Confused Between Experienced and Advanced, September 21, 2010
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.

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