Profitable Candlestick Trading by Stephen W. Bigalow

Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits by Stephen W. Bigalow presents a comprehensive introduction to the use of candlestick charting in financial markets. Candlestick charting is a technique used in technical analysis that visually represents price movements in a specified period. This method originated in Japan over 300 years ago and has been used by traders worldwide due to its accuracy in predicting market trends.

Bigalow, an expert in candlestick charts, takes readers on a journey through the fundamentals of candlestick patterns, explaining how they can be used to predict market movements and make profitable trades. The book is designed to be accessible to beginners, yet insightful enough for experienced traders.

“Profitable Candlestick Trading” provides detailed descriptions of different candlestick patterns, including the Doji, the Hammer, the Hanging Man, and the Engulfing Pattern, among others. It discusses the psychological aspects of trading and how understanding investor sentiment can lead to successful trades.

In addition to pattern recognition, the book also provides strategies on how to combine candlestick patterns with other technical analysis tools to validate trading signals and enhance decision-making. The author, having over three decades of trading experience, shares his insights on risk management, effectively using stop-loss orders, and understanding the impact of market trends and investor psychology.

One of the key strengths of “Profitable Candlestick Trading” is its practicality. Bigalow not only introduces the theory behind candlestick charting but also illustrates how to implement these tools in a real-world trading scenario. The book contains numerous case studies, exercises, and quizzes that encourage readers to apply what they have learned and practice identifying patterns and signals.

In summary, “Profitable Candlestick Trading” by Stephen W. Bigalow is a valuable addition to any trader’s library. Whether you are a novice trader just starting out or a seasoned professional seeking to refine your technical analysis skills, this book provides a comprehensive guide to mastering the art of candlestick charting and translating patterns into profitable trading decisions.