Wednesday, April 26, 2017

Mastering Candlestick Charts

This book which is the second in the popular series ‘Trading with Traders’, looks at the types of price charts that widely used by traders around the world, both professional and retail. We shall concentrate on Candlestick Charts as these specific charts are the most popular with traders today. By the time you have finished this book you should have gained enough confidence to trade with some success on your dummy account using these charts. The only two ways to analyse the financial markets are by using fundamental analysis and technical analysis. Candlestick charts are a technical analysis tool. Successful traders do not use one approach and disregard the other; they use both approaches on various levels depending on the their comfort zone or the particular strategy they want to implement. Technical analysis is based around the various types of price charts that are available to the trader. As technical analysis uses the approach that the current price is the culmination of everything that has happened in the past, historical and current chart patterns help traders make correct trading decisions. When studying a price chart you are in effect viewing price action that has happened in the past and which should give you an idea of where the price is going in the future. Click here for more information.