Candlestick Charting Demystified presents investors with step-by-step self-learning guide to mastering technical analysis of price movements in securities, derivatives, or currencies. Candlestick charting fits nicely into this environment. The broader picture provided by technical analysis is complemented by the deeper look into the mindset of traders that candlestick charting can provide. By combining these elements into a macro-micro combination, the macro messages sent by the market meld well with the micro messages given by candlestick charting. Defining candlestick charting as micro does not diminish its importance. On the contrary, the micro, or short-term, aspect of candlestick charting can allow a trader to enter trades or take profits much more quickly than those who rely on broad-based methodologies. In other words, using candlestick charts allows a trader to execute his or her plan with the precision of a surgeon’s scalpel instead of a lumberjack’s chainsaw.
Introduction:
This book demonstrates the depth of knowledge that candlestick charting provides and explains how you can use this methodology effectively to increase your odds of trading success. It begins by providing a basic knowledge of candlestick charting and the theory behind it and then progresses to a deeper discussion of technical analysis, which will give you extra tools to help you identify higher percentage trading opportunities.
Chapter 1 makes the case for technical analysis, which is the broad discipline of market analysis to which candlestick charting belongs. Chapter 2 shows how candlestick charting stacks up against other popular charting methods and why it is superior. Chapter 3 explains how to construct candlesticks and the data components needed. Chapters 4 and 5 demonstrate the various candle reversal and continuation patterns as well as the theories behind them. These patterns will be presented with their own diagrams and chart examples to show real-world examples. It is essential that you thoroughly understand the concepts in Chapters 1–5 before progressing to the remaining chapters.
Chapters 6–10 build on the basic foundation laid in the opening chapters. The tools and concepts introduced in Chapters 6–10 will help you uncover higher percentage trading opportunities by concentrating on candle patterns that are confirmed by other indicators. This is known as a “weight of the evidence” trading methodology, which will increase your chances of making successful trades. The concepts presented and discussed in these chapters include trends, moving averages, support/resistance, momentum indicators, and volume analysis. I will even introduce a couple of new indicators that I have developed and use in my own trading.
Throughout this book, you will also notice that the concept of risk is addressed. Any time a trader takes a position to attempt to make a profit in the market, he or she is exposed to an element of risk—which, simply stated, is the chance that money could be lost on the trade. By using the concepts of trend, momentum, and stop placement, a trader can control risk so that losing trades are not devastating to his or her trading account. Not every trade you make will –be a winner, and successful traders always have well-defined exit plans to be executed when a trade turns against them. All of these elements will be combined in Chapter 10 when specific trading examples are presented.
By the time you have finished this book, you will be more confident in selecting trading opportunities that have a higher probability of success. Successful trading takes practice, patience, and discipline. By using the concepts presented in this book, you should have a solid foundation that will increase your chances of trading success.
Contents:
- The Case for Candlesticks
- Candlestick Charting in Technical Analysis
- Candlestick Construction and Basic Candle Lines
- Candlestick Reversal Patterns
- Candlestick Continuation Patterns
- Sakata’s Strategies and Longer Term Candle Patterns
- Basic Technical Analysis
- Candlesticks and Momentum Indicators
- Candlesticks and Volume
- Weight of the Evidence—Trading Examples
Candlestick Charting Demystified By Wayne A. Corbitt pdf
Rafael Scott (verified owner) –
Very good intro into the subject
Harleigh Shepard (verified owner) –
Great book for beginners and novice. Also a great reference to have. Good luck with your trading!
Aliana Fuentes (verified owner) –
Nothing new here.
Deandre Clay (verified owner) –
It teaches you everything you need to in know, great for starting forex
Damari Rollins (verified owner) –
I choose this rating because it’s just like seller’s describe
I very like this author
I will recommend this to my friends
Rowan Moore (verified owner) –
Best book on subject !
Emily Winters (verified owner) –
Insight and content is very well done and is easy to read. There is a lot to cover, and I’m still going over the material. I have no problem with how the presentation was completed. I appreciate Wayne Corbitt’s contribution to Candlestick Charting.
Bowen Felix (verified owner) –
This is a very well written and explained book on candlesticks, their patterns and different types of trade setups. It also touches on trend lines, support and resistance and trade setups using multiple indicators methods with the candlesticks for confirmation. A lot of good information and is easy to read with illustrated examples of the various patterns. I’m glad I got it and recommend it if you are interested in candlesticks. Candlestick Charting Demystified
Paisleigh Schmitt (verified owner) –
I have several books on Candlesticks and stock trading. But this book was the most interesting to read and the only one that stayed interesting enough to read cover to cover. There is a quiz at the end of each chapter and a final exam. The answers are at the end of the book. The book also includes chapters on Technical Analysis that ties it all together. Each topic includes a chart of a stock or index that illustrates by example. This is the only book that I own on trading that after reading the first few chapters, I purchased several more copies to give to friends. It is worded in such a way that it is a good read for both beginners and advanced traders. If you want to make money trading, read this book or a similar book on Candlesticks and place a Stop on all trades.