Candlestick Charting For Dummies by Russell Rhoads (PDF)

Description

Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! Candlestick Charting For Dummies sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns — and pounce! This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, you’ll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. You’ll discover the advantages candlestick has over other charting methods and learn the secrets of combining it with other technical indicators. You’ll also get familiar with different ways to display and interpret price action, including trend lines, support levels, resistance levels, moving averages, and complex indicators. Discover how to:Construct candlestick chartsIdentify and interpret basic patternsTrade in bull and bear marketsWork with complex patterns and indicatorsAvoid False signalsUnderstand the components of market activityDeal with bullish or bearish single-stick, two stick, and multistick patternsIdentify and interpret complex patternsUse indicators to determine the marketOutperform the market in any conditionsDon’t know whether to grab the bull by the horns or just grin and bear it? Read Candlestick Charting For Dummies and get it right the first time.

User’s Reviews

Editorial Reviews: From the Back Cover Packed with charts and real-world trading examplesTranslate candlestick patterns and use them to predict market behaviorWant to gain a trading edge with candlestick charts, but find them confusing? No worries — this friendly, practical guide explains candlestick charting and technical analysis in plain English. You’ll see how to work with common candlestick patterns and analyze data to make smart trading decisions. You’ll also combine patterns with other indicators for more profitable trading!Discover how to:Construct candlestick chartsIdentify and interpret basic patternsTrade in bull and bear marketsWork with complex patterns and indicatorsAvoid false signals –This text refers to the paperback edition. About the Author Russell Rhoads is a trader and analyst for Peak Trading Group in Chicago. His career in trading and market analysis covers over 17 years. He has a BBA and MS in Finance from the University of Memphis and has done graduate level work in Financial Engineering at the Illinois Institute of Technology. Russell also holds the Chartered Financial Analyst designation. –This text refers to the paperback edition. From the Inside Flap Packed with charts and real-world trading examplesTranslate candlestick patterns and use them to predict market behaviorWant to gain a trading edge with candlestick charts, but find them confusing? No worries — this friendly, practical guide explains candlestick charting and technical analysis in plain English. You’ll see how to work with common candlestick patterns and analyze data to make smart trading decisions. You’ll also combine patterns with other indicators for more profitable trading!Discover how to:Construct candlestick chartsIdentify and interpret basic patternsTrade in bull and bear marketsWork with complex patterns and indicatorsAvoid false signals –This text refers to the paperback edition. Read more

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐I’ve read several books on candlestick charting over the past few months and this is by far the worst. First of all, Part 1 is completely outdated and should be rewritten to catch up to current technology. You don’t get a word on candlesticks except their four main parts (high low, open close) until page 74. And then you might expect some systematic introduction to the main types, but nope! He just bombards you with this one and that one and jumps from basic to way too advanced conclusions based on them, oftentimes mid-paragraph. I found myself constantly re-reading the same sentence because it was so poorly written. Take this gem: “The failure of the stock to hold support means that the long white candle on the chart doesn’t mean bullish action is going to continue.” So it means what it doesn’t mean? The guy just can’t write. There’s rarely any followable connection paragraph to paragraph and he never builds clearly on previous points. It’s like reading a chartist’s stream of consciousness. I learned more from the one chapter on candlesticks in “Technical Analysis for Dummies” than I did from this entire messy book.

⭐I’ve had this for over a year now and find it to be a generally good introduction to candlesticks. The problem is the short cuts taken in the writing/editing process. Many candlestick patterns come in pairs – a bullish version and a corresponding bearish version. It’s obvious that the writer took a cut/paste/edit approach to this, rather than writing about each pattern individually. Unfortunately there are several instances where he forgot to edit. As a result the uninitiated are given the exact opposite of the correct perspective. At best this will result in confusion. At worst – significant trading losses.

⭐Avoid this book if the youtube videos did not help. There are lot of videos on net with same information the only reason you would buy a book is to have all information consolidated in one place. But if you found the youtube videos to be hard to follow you might find same with this book. Still a good read if you can stay focused while reading it as it is somewhat complex collection of information.

⭐The (only) message here is simple: Candlesticks are good! If you learn that, you have mastered the book.Author never talks about what a Candlestick is, what it tells you or how you can use its information, just Candlesticks are good!

⭐If you want to venture into the stock market, it is really important to understand all aspects of it. You want to know what the investors are doing, you want to understand what day traders are doing to. You need to know the advantages and disadvantages to all means of analysis and how people using these means of analysis will be responding to the market. You want to know what they expect to happen and how they use past data for this and how these various means of analysis, say of day trader, compare to those who are looking at the intrinsic value of a company for investing purposes and how this plays into say how they are undervalued or overvalued and how this effects the volume of trading etc. As such, all I’m saying, get the book!

⭐Every chapter is filled with ‘ I talk more about this in chapter 8 and if you forgot what you’ve just read in chapter 8 you can go back to chapter 6 ‘To get to the point you have to search through paragraphs of unnecessary sidenotes, maybe author forgot the book has Contents people can refer to and there’s no need to give navigational advice every time, after all, this is a book for dummies, likely 1st ever they pick up to learn about the new subject for them. Do you really think they’re going to be skipping chapters? They intend to read it cover to cever, so why fill the book with advice on how to read the book, this is supposed to advice on how to trade. Waste of time and pain. Has useful info but would’ve been 3 times thinnner if not for time-wasting rambling.

⭐It is a good introduction to candlestick charting but, as others have point out, it is rife with errors. Often times when the author describes a pattern, he will refer to the high when he should say low or open when he should say close. This can make the reading confusing. In addition, the author sometimes explains where to place stops and other times not.

⭐This book was an excellent source of the information I was looking for. I wanted to learn more than just the fundamental concepts of candlestick charting and the book exceeded my expectations. I was afraid the book would be overly technical and I would get lost in the jargon. Pleasantly, the book lived up to my previous “Dummies” experiences. I probably have somewhere around 15 titles of the Dummies books. It is a great way to scratch the surface on something and decide if it’s worth heavily investing alot of time and more money in.In this case, the book does much more than scratch the surface. I am only a couple of chapters into it, and I already “feel” like an expert on reading candelsticks and predicting price movements and patterns. The one thing I thought that stood out above and beyond for me is the ability to skip around to different chapters without being lost. It is not a cover to cover read. You can extract just what you need out of it and move on. And that is exactly what I am doing. I also really appreciate the real world applicability. You can literally take what you read with a computer in front of you and immediately apply it to test and gauge your level of understanding. Anyone interested in technical analysis and how candlestick charting relates should start here. Since I have not read other Candlestick books, I cannot compare how this ranks with others, but for me – wanting to learn Candlestick charting without spending tons of money and buying overly technical books, this was great.

⭐Still ploughing my way through this. Lots of good information in there and information is good. Sometimes I have to go away a let my brain process what I’ve just been reading then and come back again later. Used in conjunction with looking at live charting online to strengthen your understanding, I can see this being quite powerful. Very good book.Before Trading read and research as much as you can. At this point… you’re certainly not losing any money. Book is a bargain if you factor that in. Fully recommended, but you have to do your own research too to get full understanding.

⭐I bought this book to get to know how the forex market works and I can honestly say this book is my go to book, it is very interesting and it tell you everything that you need to know about forex, they explain it in simple terms and is easy to understand it seems a thick book but once I got reading through it I was half way through it before I knew it and I started to know different strategies of trading and different elements this book is perfect for anybody wanting to try the forex markets but please bare in mind that this book is not a million pound money maker the forex markets are a volatile market and it goes up and down and you can make and loose money on the same breath but this book lets you understand how the markets change

⭐The “For Dummies” books are ideal for absolute beginners. As an absolute beginner trying to establish a foundation of knowledge for candlestick charts, i found this book extremely helpful and useful. It describes the structure of candlesticks, explains the benefits of using candlesticks instead of other charts, introduces the reader to candlestick chart patterns and this book includes a lot more useful information. For people who already have a strong knowledge of chart patters, i would suggest another source as this book is most certainly aimed at beginners (in my opinion). I implore all beginners to get this book as it will assist you greatly in learning and building on the basic, yet most important information. Overall, i wholeheartedly believe that all beginners should purchase this book. Best of luck in your candlestick charting endeavours 🙂

⭐I’ve been in and out of learning to trade for a couple of years now, I’ve read a lot of books on the subject.This book I would recommend to anyone wanting to learn to trade – even if you do not use candlestick charting already.It provides a lot of different patterns to look out for and the author explains the meaning behind the patterns and why they are affective.Great book – definitely the one I have found most useful thus far.It has given me the knowledge and also confidence to actively trade the markets.

⭐The book is a good course in candlesticks with lots of examples demonstrating the use of each pattern. It is also a good introduction to technical indicators.The examples focus on stocks and futures but the theory is the same for other instruments like forex so I’m ok with that.Finally you will gain some basic knowledge on a variety of instruments, ideas on how to enter and exit trades, and trading general advice.I believe that the author has done a great job and also he has a good sense of humour.For Dummies book have always a lot to offer.

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