Book Review – Number 1

Filed under: Learn Forex Trading |

We are finally at number one in my series of ten – my top ten favorite forex-related books. This book has the most relevance than any for me as I exclusively use Japanese candlesticks on my charts, and I regularly use a number of techniques and setups explained in the book. It is the most comprehensive book on the topic of Japanese candlestick charting, and it is in fact the book that actually brought Japanese candlestick charting to the west. Before this book, nobody used candlestick charts! So it is a highly influential book and a must read if you are interested in trading. So here it is…

Number 1***: “Japanese Candlestick Charting Techniques” by Steve Nison

Through the extensive research of Steve Nison, Japanese candlestick charting was brought to the west, which included centuries of knowledge – as the Japanese have been using these methods of trading analysis for literally hundreds of years. Although their methods have not been kept a secret, the problem of translation has meant that the techniques had never really been used in the west until the publication of this book.

 

As well as explaining all about candlestick charts and what the various patterns mean, the book is written in a very user-friendly and conversational tone, and is a very entertaining read. There are some lovely Japanese sayings scattered throughout the book and there is an interesting section that provides some historical background to the candlestick charts. I would say that, with the way that we trade on this website (I am mainly talking about the “Daily Trades” here), I think that this book has to be my number one as it is the most relevant and useful in a practical sense. The book is a little expensive, but I’m sure you will get your money’s worth over the years, as it is one that you can come back to again and again. Think of it as an investment. Well, that’s it for our book reviews, for a while at least. I hope you enjoyed it. See you next week.

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