Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits

by Stephen W. Bigalow

The updated edition to one of the most popular books on technical analysisJapanese candlestick charting and analysis is one of the most profitable yet underutilized ways to trade the market. Signals created by this unique method of technical analysis-represented in the form of graphic "candlestick" formations-identify the immediate direction and effects of investor sentiment through price movements, allowing traders to profit by spotting trend reversals before other investors. This updated version of "Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits" makes learning the method fast and easy by introducing specific patterns, as well as the psychology behind them. The book
Details the most valuable aspect of technical analysis-reversal patterns-as well as reversal signals, including the Doji, the Hammer, the Hanging Man, Engulfing Patterns, and Dark Cloud CoverExplains continuation patterns and explores how they can help with the decision-making process during various trading periodsReveals how to find trading situations that have the maximum potential for profitability, the highest probability of success, and the least amount of risk

Learn how to quickly search, view, and profit with candlestick formations with "Profitable Candlestick Trading."

Genres: Finance

384 pages, Hardcover

First published December 21, 2001

Reviews

[Michael T. Poma · Rating 5 out of 5]

Excellent read

I liked the detail explanation along with the charts. It really reinforced memorizing the candlestick signals. I recommend this for those who want to really understand Candlestick signals.

[Vasco · Rating 4 out of 5]

Amazing, very rich. To re-read.

[Bernd · Rating 2 out of 5]

The book provides a comprehensive catalog of established/traditional candlestick price patterns. The "profitable" part remains unproven, as the author focuses on illustrating the application of candlestick patterns to anecdotal evidence in selective charts. I found no tangible evidence in terms of frequencies & probabilities, or expectancy, just how (if even whether) "profitable" these patterns are. As such, the book is an interesting introduction to those not familiar with the concept. The descriptions of underlying psychology are interesting, but again, I am missing the proof in the pudding, and some statistic evidence of their relevance. Otherwise they come across as pure conjecture. I also found very little new insight compared to the authors other book on candlestick patterns. And given his active regurgitating of candlestick charting philosophy in the various industry forums/media, I wonder how much this book is self-serving for the author's reputation as a candlestick "expert"?

[David · Rating 3 out of 5]

Not a huge fan of candlesticks but this book was fairly well written and gave some good suggestions regarding trading. As always, I rarely "read" an investment book, I scan them waiting for what I consider to be important points. Of all the books I've read about 95% of the subject matter is useless, not all of course, but most. Perhaps useless later in life than years ago as I have gained much knowledge over the years, so much of what I read now is redundant.

My fault with this book and so many others is simple. Where's the authors trading results? If the method is so great that it requires the authorship of a book, why not include one's results.....why you ask, why? I'll let the reader of this figure out his or her own answer.

The best advice mentioned in the book, in my opinion, is to look for signals after a trend which is either over bought or over sold. Pretty simple, but true.

[Ruzica · Rating 5 out of 5]

Excellent but a bit too dry for my taste.