Money–Making Candlestick Patterns: Backtested for Proven Results (Wiley Trading) - Hardcover

Palmquist, Steve

3.22

9 ratings by Goodreads

9781592803286: Money–Making Candlestick Patterns: Backtested for Proven Results (Wiley Trading)

Hardcover

ISBN 10: 1592803288 ISBN 13: 9781592803286

Publisher: John Wiley & Sons, 2008

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Candlesticks are one of the most widely used technical tools in trading. Designed to provide detailed, at-a-glance information, these charts are integrated into almost every web site and charting software solution. But, despite their popularity, the definitions of these candlestick patterns are often vague and misleading. Now, for the first time ever, Steve Palmquist hands you the secrets for effectively using candlestick patterns in all market conditions. Data that would take years to compile and years to interpret is now at your fingertips. Based on intensive back testing and research, Money-Making Candlestick Patterns shows how to appropriately use the most popular candlestick patterns in bull, bear, and sideways trends. .................................................................... Built from PROVEN FACTS, not theory, you'll learn: � Clear definitions of each selected pattern to remove guesswork and improve performance � Exactly what you need to know about back testing to increase your wins and minimize your losses � The impact of various market conditions on the most powerful patterns to remove surprises and increase profits � Keys to eliminating common testing mistakes that can prevent you from making money � The candlestick pattern that has shown triple ROI in back testing This book rigorously tests the assumptions inherent in standard candlestick pattern definitions. Each chapter breaks down the pattern to examine how parameters such as current volume, average volume, and price level will impact results. The definitions that most often produce profitable trades are identified and outlined with complete usage instructions for increasing your winning trade percentage. In this book, technician Steve Palmquist hands you his years of research. The information on back testing and the insight into your favorite patterns will give you a seasoned advantage in a fraction of the time. Thorough and efficiently organized, this book will allow you to use candlestick patterns to exploit every move the market makes.

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Review:

Money–Making Candlestick Patterns is another book in a long line of books professing a way to make money at trading. Unlike so many of those books, though, Palmquist′s writing style is fluid and easy to follow. His logical and ordered approach to discussing the somewhat abstract notion of trading with candlestick patterns transforms the abstract into the concrete, and his detailed discussion of MAT and how he applies it to his trading gives the reader practical and applicable trading information. Additionally, his overall sensibility regarding the fundamental truth about trading–successful trading is about putting the odds in your favor–flows throughout the book, and, if the reader gets nothing from the candlestick patterns Palmquist puts forth as money makers, this fundamental truth alone, if digested and truly understood, is worth the price of the book. Traderplanet.com

About the Author:

Steve Palmquist is a trader with more than 20 years of market experience who puts his own money to work in the market every day. Palmquist has shared trading techniques and systems at seminars acrossthe country, presented at the Traders Expo, and published trading articles in Stocks & Commodities, Traders Journal, The Opening Bell, and Working Money. Palmquist also founded www.daisydogger.com, which provides trading tips and techniques, and is the publisher of The Timely Trades Letter, in which he shares his market analysis, trading setups, and trading tips twice a week. Palmquist holds a BSEE from Washington State University, and a Masters in Electrical Engineering from the University of Illinois. He has been involved in the management and development of communications systems, high-speed computers, test equipment, infrared vision systems, and color printers at companies such as Bell Laboratories, Integrated Measurement Systems, Flir Systems, and Tektronix.He holds 10 U.S. patents, is a father of four, and has a private pilot license with an instrument rating.

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