Lets say im complete noob and have no idea what is japanese candlesticks, which book of his would u suggest me to read?
1.Steve Nison - Japanese Candlestick Charting Techniques. A Contemporary Guide to the Ancient Investment Techniques of the Far East
Or
2.Steve Nison - Beyond Candlesticks New Japanese Charting Techniques Revealed
Thank You!
Both.
If you’re a complete beginner, you won’t understand the terms in the second book, if you haven’t read his first one.
Hello.
This is just a ‘personal bugbear’ of mine with the likes of Steve Nison (and John F. Carter is another one) so nothing personal. Both start off telling you BLATANLY that indicators of any type are useless and that price action and trading ‘naked’ charts (candlesticks and candelstick patterns) are ‘the only way to trade’. And in both cases, all of a sudden there are two or three chapters on RSI, ADX, MACD, MAs, ‘and the rest’. That’s always made me wonder!!! LOL!!! Just a personal note and private ‘bitc*’ I guess. Put it this way: I’ve yet to find a book that DOES NOT refer to at very LEAST RSI at some point or another (the only exception that I’ve found being Bill Williams and that’s only because I think there’s always been a bit of ‘rivalry’ between Wilder and Williams but that’s juat a guess of mine. And Williams uses a modified version of MACD anyway).
I know this is off topic (or is it i.e. ‘price action trading’???) but take a look at this post for fun:
Technical Trading Systems at TechTraderCentral - Clearing Up Price Level Trading Introduction
NO (before I get asked): I’m not trying to 'solicit members. The attachment is too big to attach here and FuturesMag has started to ‘encrypt’ their latest editions so you can longer (it would seem anyway) simply ‘extract’ portions of the document into another smaller .PDF. Unless I just need a later version of Adobe Acrobat Professional although I do have Version 7.1 and that’s APPARANTELY what their document is created with according to my Adobe Acrobat Professional 7.1 anyway.
What’s interesting to me is the equity curve i.e. it’s a ‘wet dream’ (no offense to anyone). Whether or not it will be able to be applied to the trading of FOREX I cannot say (but maybe someone can try)??? It also shows some very interesting insights into equity curves that can result from trading with certain indicators. Anyway: I thought it was pretty ‘neat’. I’m not trading it but have begun to monitor it. What IS nice about it: it looks as though they’re sort of ‘quick once per day trades’ (NOT scalping but just shorter trades as opposed to following trends for days on end if and when they occur).
Regards,
Dale.
That’s because you’ve not read Master The Markets by Tom Williams, or Wyckoff teachings, not a mention of a single indicator in sight!
Well that’s THEIR problem then!!! LOL!!! ROFLMAO!!! Nice to see you around and so chirpy again!!! LOL!!!
Regards,
Dale.
Read both books (and a hundred more from other authors), take what you can use and throw what’s left away. 
I have Candlestick Charting for Dummies (seriously!), and I found it helpful in getting a good start in identifying candles and 2-3 candle patterns. It’s mainly for stocks, and you won’t use some of them (all the ones with gaps for instance), but it will get you started. From there, go straight to babypips school.
Probably good advice (although not my ‘style’). As you’ve noted though: ‘mainly for stocks’. The problem: FOREX BROKER TIMEZONES. Different timezones: different candle patterns on the SAME Spot FOREX pair on the 4-hour and daily charts so just bear that in mind (others). And the obvious question: which timezone is ‘right’ for Spot FOREX!!! Not a debate for here i.e. there’s LOADS of threads and posts on this subject. Just search for them.
Regards,
Dale.
In fact, I wouldn’t trust candlesticks alone and if it’s intraday it’s even worse. Most formations also have no big impact. Most useful is a hammer or shooter on daily imho. Engulfing can also be good. Tho, valid just for a few candles afterwards.
Not far wrong at all Bucks, not far wrong at all. I agree very much.
P.S. Just wandering have you tried my NDNSHistory ‘indicator’ ? Have a look at it on the 15m chart, I bet you could use that as a basis to create a pretty decent bot!
Thanks ppf! Well, I’ll risk a quick look and one even deeper if I am done with all of the projects I have here on my working stack already, lol. Pretty sure your indi is great if combined with the right mm rules. Currently I use also a vsa indi or some, but ns/nd is really the key imho.
I am a little pushed for time so I haven’t read beyond your question but I recommend Steve Nison’s “The Candlestick Course.” It is a teaching book and has plenty of examples plus quizzes so you can test yourself after every chapter. Then you can get his other books for further education. It is published by Wiley & the ISBN # is 0-471-22728-5. You might find it cheaper on Ebay or Amazon. good luck.
1.Steve Nison - Japanese Candlestick Charting Techniques. A Contemporary Guide to the Ancient Investment Techniques of the Far East
Or
2.Steve Nison - Beyond Candlesticks New Japanese Charting Techniques Revealed
Call me a cynic, but that read to me like this…
then when you realise it wont really make you any money.
That reminds me of Bill Williams!!! LOL!!! ROFLAMO!!!
I see that YOU must have been ‘on the jazz’ last night given the time of your post??? No emails??? LOL!!!
Regards,
Dale.
Nope, I don’t need to jazz to sing!
I read that book years ago.
I just stuck to the stuff about candle sticks though. I didn’t pay too much attention to what he said and any of the other stuff. They came from Japan from 400 years ago. I figured if they are still used now there must be something to it.