economics

Good book for someone who doesn't know anything about candlesticks, but I think you need to have some sort of understanding of investing before reading this book. The reason why I gave it a 4 star instead of a 5 star was because this is the first book on candlestick I've read. I haven't read another book yet on this topic.

Read this book the first time when I bought it several months ago and got a glazed over look in my eyes because I had no clue about any of it. However, as I let some months pass by and got better with my technical analysis utilizing other charts like MACD, stochastics, MA, BOP, TSV, MS, etc....the terminology and how the market moves allowed me to better understand what I was reading in Morris' book.

It would've been nice if he had a simplified table of the various individual candlesticks and what they represented and another table of the reversal patterns in bull & bear markets.

I like how the chapters were formatted in the reversal chapter. This was a long chapter and probably could've been broken down into shorter chapters to better categorize various reversals.

I have been able to validate some of the reversals by experience. I wasn't sure if I was reading the candlesticks correctly and went against what I read. The candlesticks were correct and I was wrong. Good thing I am learning about this when I don't have lots of money to lose yet.

All in all, I will read this book to glean even more information from it. I've already read it twice.

If you have to make a choice, get Nison's 2nd edition of "Japanese Candlestick Charting Techniques" instead. "Candlestick Charting Explained" does do a decent job of condensing and organizing the material in Nison's book and it costs less than half the price. Still, Nison's book has more meat and more material.

One thing that Morris' book has is data on comparing the different candlestick patterns. Unfortunately, it is so dependent on the stocks chosen that the reliability can be misleading.

After all that, since you will probably be putting significant funds behind your trades, buy both books!

I have read some negative comments here about this book not being detailed enough etc... but it gives very clear, understandable explanations of all the patterns, and they are all grouped in an excellent orderly easy to find fashion. Other books of this kind may be a bit more detailed but they are a difficult dry read, far too lenthy and not as organized nor as well written. Greg morris delivers all the neccessary goods in this book.