Name: Candlestick Charting For Dummies
SKU: 29675
Price: 12.25 USD
Availability: InStock

Description

Candlestick Charting For Dummies provide readers with some insight into how candlesticks are created and how they can be used to analyze the psychology behind what happens over the course of trading days. I hope that the candlestick methods described in this book help readers to make trading and investment decisions that lead to solid profits, but unfortu-nately, there’s no guaranteeing that. What I can guarantee is that after reading this book (or even parts of this book), you can gain a useful understanding of what candlesticks are, what they represent, and how they can be used in trading.

Author’s Introduction:

I’ve organized Candlestick Charting For Dummies into five parts. Each part offers a different set of information and skills that you can take away to incorporate in your personal trading strategy. You get a feel for candlestick basics or understand some simple candlestick patterns and how to trade based on them. You tackle some more complicated patterns and figure out how it’s possible to use candlesticks in tandem with other popular technical indicators. The possibilities for candlestick charts are many and varied, and I do my best to touch on a wide range of their uses and benefits.

Part I: Getting Familiar with Candlestick Charting and Technical Analysis: In the first part of this book, I introduce candlestick charting and some other basic charting concepts. You may be wondering what advantages candle-sticks have over other types of charts. Believe me, the rewards are plenty, and you can read all about them in Chapter 2. Want to know what price data elements are combined to generate a candlestick? That’s all contained in Chapter 3, along with some information on how to embrace the other types of data that you may run into when reviewing candlestick charts. And in the last chapter of Part I, I also let you know how to tap into a variety of free and for-purchase electronic resources for charting, which are critical in today’s high-tech trading environment. I even include a low-tech alternative: how to draw charts yourself.

Part II: Working with Simple Candlestick Patterns: Part II features descriptions and explanations of some of the most basic and common candlestick patterns. The simplest candlestick patterns involve just one day or one period of price data, and you can find information on those patterns in Chapters 5 and 6. Two-stick candlestick patterns are one step up from those basic patterns, but just a single step up in complexity can provide quite a bit of additional infor-mation and versatility. Some extremely helpful two-stick candlestick patterns pop up frequently on candlestick charts, and if you want to really capitalize on candlesticks in your trading strategy, you need to know how to identify and trade them. Don’t worry; I’ve got you covered in Chapters 7 and 8, which wrap up Part II.

Part III: Making the Most of Complex Patterns: Three-stick patterns are the most complex patterns that I deal with in this book, and their nuts and bolts are explained in this part. (Three-stick pat-terns in Part III — convenient, right?) Like their one- and two-stick counter-parts, three-stick patterns tell you what a market or security is about to do next, and the added stick means that these patterns are a bit more rare but that much more exciting. You can get your three-stick candlestick pattern bearings in Chapters 9 and 10.

Part IV: Combining Patterns and Indicators: I begin Part IV with Chapter 11, which offers a more in-depth discussion of several other technical indicators. It’s useful for any trader to understand a variety of indicators because you can use them alone, to confirm your candlestick signals, and in combination with candlestick patterns. Although candlestick patterns alone have proven to be reliable trading tools, using them in combination with other indicators can greatly enhance their ability to predict the future direction of a market or a stock. In the rest of Part IV, I take some simple and complex patterns and combine them with pure technical indicators to show you how coupling the two techniques can lead to profitable trading. The chapters in this part are chock-full of fascinating real-world examples from a variety of markets and industries.

Part V: The Part of Tens: You can’t have a For Dummies book without a Part of Tens, and this book is certainly no exception. The final part includes a few helpful lists, including myths about trading, a few things to keep in the back of your mind about charting, and some resources that you can consult to further your candlestick understanding.