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Book: Candlestick Charting Explained :: Book
Date: Thursday, 08 January, 2009 :: 20:40
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Candlestick Charting Explained
List Price: USD $49.95
from USD $26.66
Product Group: book
Manufacturer: McGraw-Hill
Studio: McGraw-Hill
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Editorial Review: Product Description
Master this powerful trading system and identify the best trades Inside this book you will discover candlestick charting, one of the most popular tools in technical analysis. Candlestick Charting Explained features updated charts and analysis as well as new material on integrating Western charting analysis with Japanese candlestick analysis, grouping candlesticks into families, detecting and avoiding false signals, and more.
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Reviews:
Average Customer Review: 
Summary: Better than Nisson's Book
Date: 2008-11-22 - 
Comment: 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".
7 of 7 people found the following review helpful:
Summary: Better than Steve Nison's book
Date: 2008-09-14 -
Comment: 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!!!
1 of 2 people found the following review helpful:
Summary: From the Stock Traders Headquarters library
Date: 2008-05-03 - 
Comment: This book has everything you need to know about Candlestick charting. If you are interested in learning Candlestick charts and formations as a short term trading tool, look no further than this book.
David Colletti
Founder
StockTradersHQ.com
3 of 3 people found the following review helpful:
Summary: Systematic with a deep insight into Candlesticks Charting
Date: 2008-04-27 -
Comment: 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.
3 of 9 people found the following review helpful:
Summary: Candlesticks: pretty, but of very little use
Date: 2008-03-15 - 
Comment: I use candlesticks myself because they are visually superior to bar charts, but their value as a trading tool is very questionable. Because of that, I would've given this book a 1 star rating if it didn't contain some very interesting backtesting results. Ironically, these results show that even the best candlestick patterns yield short term returns that are so small that trading costs eliminate them.
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