Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits

by Stephen W. Bigalow

Unlock the secrets of an ancient charting tool
The most ancient form of charting, the Japanese candlestick method has become an extremely popular analytical tool among the new generation of traders. However, because of the aura of mysticism surrounding candlesticks and the arcane terminology typically used to describe them, many traders in the West never really learn how to use them properly and exploit their full potential. Profitable Candlestick Trading demystifies candlesticks for today's traders. With the help of numerous real-world examples, Bigalow clearly explains how candlesticks work, how to read them, and how to maximize profits with them. Bigalow shares some of his original candlestick-based trading programs, the same programs which have yielded impressive results for his clients at leading financial firms in the United States and abroad.

Genres: Finance

324 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.