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Cloud Charts Trading Success with the Ichimoku Technique Hardcover – January 1, 2010
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- Print length240 pages
- LanguageEnglish
- PublisherUpdata Plc
- Publication dateJanuary 1, 2010
- ISBN-100956517102
- ISBN-13978-0956517104
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Product details
- Publisher : Updata Plc (January 1, 2010)
- Language : English
- Hardcover : 240 pages
- ISBN-10 : 0956517102
- ISBN-13 : 978-0956517104
- Item Weight : 1.9 pounds
- Best Sellers Rank: #2,937,385 in Books (See Top 100 in Books)
- Customer Reviews:
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I deduct one star because there are totally 16 chapters in this book but from Chapter 1 to chapter 7 are other TA, which you have already known. Like history of TA, candle stick, moving averages, point and figure etc. That is, half of the book is non-related to Cloud charts. Yes, I started to read the book from Chapter 8. That is, I bought this book with $50 but it cost me $25 to review other TA concepts. To be honest, if you already know what is candle stick and point and figure, then you feel waste money. If you don't know how to read those TA, you still cannot learn from only one chapter, right? So, it is useless for chapter 1 - 7.
If you really want to learn, I suggest you can borrow from library for this book. If you buy it, prepare that you waste half of the cost for something you may not need.
Also, start from Chapter 12, it also consist of strategy of point and figure chart with cloud, which is good and interesting for me as I also like to use point and figure chart. But for those who do not know point and figure charts and not have interest.
Overall, I still rate 4 stars as the content, layout and charts examples are good. Again, deduct one star just because it waste half of the book for non cloud chart related TA..
I glad I read the book. It has been useful to me..
I would like to start my review pointing out some of the good things about this book. First of all, the author is obviously a very intelligent, accomplished individual and has loads of ideas to explore. The author also happens to be the founder of Updata, and as such uses many colored Updata charts on heavy gauge paper. This in and of itself is impressive. The general binding of the book, and quality of construction makes it a book that will last a 100 years on a library bookshelf!
My complaints are unfortunately many. I hope the author will read these and take it as constructive criticism for the next edition:
1. As another reviewer has noted, there are quite a few misspelled words and poor grammar. This made several areas of the book a tough reading assignment, and difficult to understand. I found myself reading and re-reading a paragraph - then reading it out loud with corrections to get the meaning. To compound this point, the book is just not a fun book to read. I mean to say that it just doesn't flow nicely. It's like a hodgepodge of ideas all cut & pasted together. It pains me to make this critique, as there were nicely laid out "Parts 1, 2 & 3", with bullet point summarizations. It's a good read for someone who's after a bunch of ideas, but not for someone seeking deeper solid take-aways. It's like a collection of semi-related magazine articles organized into sections.
2. The author does not come out and directly advertise Updata, but many references to proprietary and/or unique features of this charting platform are made. This, in and of itself isn't so bad. However, to take time and vaugely show an indicator called "indexia", and say "here's an example of a proprietary indicator in TA", is not good. I as the reader am left hanging to go and find out what "indexia" is. The same can be said with things like the "heat map", "flip charts", and "optimized trailing stops". If I had an Updata platform, then I could spend time exploring the value of these. In all fairness the author provides a 30 day free trial to Updata (TraderPro). It's about $150/month after that if you want to keep it, along with realtime data.
3. As a buyer of this book, I was seeking to find out more about the the Ichimoku Kinko Hyo indicator itself. I have gone to free websites and already understood most of the basics, and was hoping to delve deeper into it's underlying meanings. The author instead has decided to combine Western TA techniques, and a collection of other ideas to get more meaning out of the indicator. This exercise for me ended up being a whole bunch of disconnected ideas to explore - with the implied use of Updata TraderPro.
4. Just a little over 50% of the entire book (Part 1), was dedicated to classical Western TA. In my opinion, this was way too much surface information to help the beginner, and way to generalized for the experienced trader. I consider myself to be in the former group, and was somewhat irritated wading through this filler material. I will say that the section on Point & Figure, and candlesticks was somewhat interesting. In fact, maybe the author should have just focused on these. As another suggestion, eliminate most of the TA material and expand on money management - that's where the money is made isn't it??
Don't get me wrong, I think this book has value. I however don't have TraderPro and just wanted to learn more about Ichimoku. My goal is to make money, not to play with endless variations on technical analysis. I will say that I did pick up a couple interesting points in this book, and reinforced some notions I've developed on my own. Even with a three star rating, it's not a bad book to have around in it's current form, but waiting for the next edition would be advised. If you have Updata TraderPro, then maybe this book gets a four star rating.
Top reviews from other countries
(-) half of book about general technical analysis
It is important to understand that there is no perfect technique/indicator for use in market trading.Ichimoku works well in a trending market. In a range-bound market, it is subject to whipsaws. There can be fake breakouts above and below the cloud. They need to be handled through proper position sizing and risk management. In my trading, I use Ichimoku charts as a supplement to RSI,STOCHASTICS,MACD, WILDER'S DMI,Bollinger Bands, VIX,etc. with 20/50/200 mas, daily, weekly, monthly, and 60/30/15/5 minute charts. ICHIMOKU charts help me from getting suckered into weak counter trend moves. If used properly, Ichimoku can be a valuable supplement to other technical indicators in one's trading.
This book can be useful for folks who would like to see the essentials of Ichimoku in print as a handy reference.









