Trading Magazine

[Barbarian]

Ever hear a song for the first time...you like it and get used to it? Then you hear the live version, or a cover by a band you really like. While the second version is good, you just have to love the first one more.

That is mainly how I relate to Nison's books. The first one goes into greater detail on the reasons for the patterns (what the crowd is doing/thinking/saying). His second reviews most of the material in the first, only adding a few "advanced" techniques. They are both worth the money, but I like the first hands down.

Try to get a used copy or go to Amazon (you can get both for $131.)

I have a really hard time paying over $50 for a book....my household buys a ton of books a year... I guess it just reminds me of being ripped off in college ($200 for books you really didn't need to buy, etc.)

 

[NihabaAshi]

StockCharts.com only discusses Japanese Candlesticks via daily or weekly chart examples or trade setups.

Also, StockCharts.com ONLY discusses the basic aspects of Japanese Candlesticks. Thus...if your a newbie to Candlesticks...StockCharts.com is an excellent learning tool source.

Nison books are more in-depth than just the basics...and discusses candlesticks in many many more market situations via more different financial instruments than StockCharts.

More importantly, there are patterns discussed in Nison books not discussed at StockCharts.com

If your a trader via candlesticks...you need books or other educational tools because many online websites only cover the basics and RARELY discuss them via INTRADAY ANALYSIS.

I've had some discussions with other book writers of candlesticks and we come to the conclusion...

TRADERS need to understand that candlesticks have different "reliability or probability" for success on intraday setups than those via daily or weekly setups.

In fact, via my own study and trading (+12 years)...intraday setups are more reliable than daily/weekly chart setups.

Other books to consider are via Gregory Morris, Wagner & Methany.

Simply, StockCharts is good...but if you want to make a living via Japanese Candlestick Analysis...your going to need more in-depth materials.

Nihaba Ashi

 

[Private]

Aries,

I have both of the candlesticks books. The second edition is an updated version. You will want this one over the other one.

Regarding content, the first edition mainly concerns Futures, while the second edition is focused on Equities.

Concerning the trading magazines, I read the popular 3 mentioned earlier. To some extent I agree that TASC has declined, but really you cannot have repetition. This means that the reader will end up with articles about esoteric indicators and swing trades. Back issues are of great value. Collect those, if you are a newcomer to the magazine.

 

[Aries]

Thanks guys! That was very helpful. I just tried another library and was able to recall the first edition. So most likely I'll buy the 2nd ed. since it's more related to the equities. I totally understand how you feel, Barbarian, about the cost of books. Been there...

NihabaAshi, I've had some success trading based on the candlestick patterns. It's interesting how you said that "intraday setups are more reliable than daily/weekly chart setups. " I always thought it was the other way around. Thanks for your suggestions.