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Candlestick Charting Explained:Timeless Techniques for Trading Stocks and Futures: Timeless Techniques for Trading stocks and Sutures by [Morris, Gregory L.]
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Candlestick Charting Explained:Timeless Techniques for Trading Stocks and Futures: Timeless Techniques for Trading stocks and Sutures Kindle Edition

4.4 out of 5 stars 51 customer reviews

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Length: 560 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Editorial Reviews

From the Back Cover

The classic Japanese candlestick reference, updated with all-new insights and tools to improve your predictive accuracy

Candlestick Charting Explained takes the subjectivity out of Japanese candlestick analysis by providing you with standardized, straightforward coverage of 89 powerful candlestick patterns. Inside you will learn what they indicate about current trader behavior and how you can use each to instantly improve your market knowledge and analytical precision.

In this revised and expanded third edition, candlestick expert Greg Morris updates his influential guidebook with valuable new material and patterns to give you:

  • Thorough coverage of candlestick patterns to allow instant analysis of investor attitude and probable market direction
  • Methods for integrating candlesticks with traditional Western charting analysis for enhanced signal verification
  • Completely new section by Ryan Litchfield dedicated to "Trading with Candlesticks"
  • Current insights into trader psychology, and how it impacts interactions between buyers and sellers

Its in-depth exploration of traditional as well as all-new candlestick charts, Candlestick Charting Explained will show you how to make candlestick charting a logical, understandable, and profitable component of your current trading program.

Empower your trading with Japanese candlestick charting

Japanese candlestick charts dramatically improve your understanding of short-term (less than a week) market sentiment, making you a much more informed and focused trader of stocks, futures, and indices. The bestselling Candlestick Charting Explained focuses on the patterns themselves and highlights the key facts you need to know to apply each pattern to your trading. For each of 89 distinctive candle patterns, its standardized format provides you with:

  • Commentary--Description of pattern and significance of its name, insights into unique features, and other concise explanation
  • Rules of Recognition--Simple rules for quick, accurate identification along with precise, day-by-day descriptions of pattern development
  • Scenarios and Psychology Behind the Pattern--Trading scenarios that could have led to the pattern's development, with general discussion of the psychology of each
  • day's action
  • Pattern Flexibility--Situations that change the pattern's effectiveness with explanations of allowable deviations from the classic pattern
  • Pattern Breakdown--Instructions for reducing the pattern to a single candle line and whether or not outside confirmation is suggested or unnecessary
  • Related Patterns--Patterns that have similar formations, could be considered variations, or are a part of this pattern
  • Example--A graphic example of the pattern to both aid in recognition and eliminate costly confusion in pattern identification

Additional information and insights present different interpretations of candlesticks based on intraday instead of end-of-day events and action, improving signal reliability. The author's unique candle pattern filtering concept, instrumental in answering the "how" question, is updated to utilize today's larger universe of stock data. An all-new chapter provides practical application and perspective traders need to view candles in the context of today's computer-driven marketplace.

For millions of traders, candlesticks have become a key tool in creating and verifying trading signals. Candlestick Charting Explained is the only book you need to start integrating their proven versatility and effectiveness into your technical trading program.

About the Author

Gregory L. Morris is a portfolio manager for PMFM, Inc., managing the PMFM Core Advantage Portfolio Trust mutual fund. One of the world's leading experts on candlestick charting, Morris is a consultant and the former CEO of MurphyMorris.com, which he and a partner founded and later sold to StockCharts.com. He is the author of The Complete Guide to Market Breadth Indicators, along with numerous articles for professional publications, and has spoken to thousands of traders and investors at industry conferences around the world.


Product Details

  • File Size: 21208 KB
  • Print Length: 560 pages
  • Simultaneous Device Usage: Up to 4 simultaneous devices, per publisher limits
  • Publisher: McGraw-Hill Education; 3 edition (April 17, 2006)
  • Publication Date: April 17, 2006
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B003WJR5PE
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #163,592 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

Format: Paperback
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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Format: Paperback
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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Format: Paperback
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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Format: Paperback
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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Format: Paperback
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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Format: Paperback
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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Format: Paperback
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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Format: Paperback Verified Purchase
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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