Another good one.
2 Likes
Tom Hougaard Has a really good book for beginners. He says this book has better information than a lot of entry level courses and i cann attest to that. Also, Its free at tradertom .com (get rid of the space before the .com, new members cant add links). He references other books within it. One is about candlesticks called Candlestick charts by Clive lambert which explains all the major candlesticks in detail, Great Book.
3 Likes
What’s the title of the book?
“The Trading Manual” On the website just click get my free trading book.
Is this a good book on candle sticks?
2 Likes
Hello @TotoCayetano,
Great thread. To add to the books mentioned, here’s a thread about @Pipcrawler’s favorite trading books: Pipcrawler’s Favorite Trading Books updated. Aside from Pipcrawler’s favorite books, suggestions made by other members are also interesting.
Pipzilla 
2 Likes
Thanks. This one looks interesting.
This is good for running EA…
I started with ‘Currency Trading for Dummies’ and it really helped me. You can give it a shot.
3 Likes
I wish more members would add name of the books that greatly influence them and help them in their forex journey.
1 Like
It is all about learning. It doesn’t matter which way of learning you choose.
Please I need this book, pls
1 Like
You can find most of these books in Amazon. 
Kathy Lien’s book I finished reading earlier this month. I found it invaluable. She works in the industry and she was working in FXCM (atleast when the 2nd edition was released).
The author stresses on knowing both Fundamental and Technical Analysis as a key to successfully trading. My key takeaways:
- An outline of fundamental currency forecasting models (Purchase Power Parity, Balance of Payments, etc). A high level view on what they are, how they attempt to forecast prices, their strengths and weaknesses.
- The role of economic news releases on data and how they affect markets in Pips on average for context.
- How specific trading times affect the market (Asian/European overlap, European/American overlap, Frankfurt/UK powerhour) and how to use that to your advantage to trade.
- Actionable Technical setups with well explained graphs and very clear and concise trading rules.
Above points were what affected me the most, but Kathy explains a lot more and everyone who reads the book will see things differently. It was also interesting to observe how much stress she puts on protecting capital. In most of her trading strategies she splits half her position at 1:2 Risk/Reward to lock capital and let’s the other half run (trailing stops mostly). It’s also her #1 rule in the 10 rules she’s put in her book.
1 Like
Just finished it. It’s a really good book. Especially the Third Part on psychology. Walter Peter’s has a background in psychology and was, in turn influenced by another psychiatrist/trader (Alexander Elder). In fact his mention of Kangaroo Tails is a direct reference to Alexander Elder’s naming convention for the same pattern. He also acknowledges the influence in an interview in the “Trading Heroes” YT channel.
TBH, I was really put off by the first 1/3rd of the book. The author appeared very pseudo science like, he promotes his website where he can and he’s taken established candlestick patterns, added a few more rules to them and given them funkier names. Some examples on the top of my head are:
Big Shadows = Engulfing candles with extra rules.
Wammies/Moolahs = Double tops/Bottoms with extra rules.
Kangaroo Tails = Hammers/shooting stars with extra rules.
In all fairness, the strategies and trading rules are explained and broken down really, really well. With a lot of graphs that explains the logic outlined in the trading rules very clearly. By making it that simple he leaves no room for ambiguity.
The Second and third part the books really shines. Emphasis on hard work, diligent practice. Why good trading is boring trading and it’s supposed to be like that. Why back/testing builds confidence in your trading and how that correlates to a decisive and healthy psychology during trading. Many, many golden nuggets of wisdom.
2 Likes
This was the OG of candlestick trading books. It’s included in the bibliographies of other books too. Like the Currency Trading for Dummies (already recommended in thread) and the universally lauded Technical Analysis of the Financial Markets, John Murphy.
I read an outdated copy (the first edition in 1991) and I think the latest edition is in the early 2000s. Steve Nison also has another candlestick book for forex trading and a new book out in 2012 too that might be worth checking.
But most of the books I’ve read so far (I’ve read about 8 so far) have been influenced and cites this one as an important reference for candlestick theory.
1 Like
Wow. I’ve got the book for more than a year now but haven’t started it yet. 
My bad. Ok, this may inspire me to read it asap. Thanks
Looks interesting…
