How to Make Money Trading with Candlestick Charts

Balkrishna M. Sadekar

Jul 2015 · Vision Books

About this ebook

Japanese rice traders have successfully used candle signals to amass huge fortunes for nearly four centuries. Constantly refined and tested over time, candlestick signals are now being used the world over for trading all financial markets, including stocks, derivatives and currencies, etc.

This book explains step-by-step how you can make money by trading the powerful and proven candlestick techniques. Here is how:

● Explanation of major candle signals; how to recognize them and use them effectively

● The underlying market psychology revealed by each candle formation

● How to combine candlestick signals with Western technical analysis to take advantage of high probability trades which generate explosive profits

● Stop loss settings for various candlestick signals for cutting losses. Master this and you will be way ahead of fellow traders

● How the use of candlesticks with technical analysis provides a simple mechanical trading system which eliminates emotional interference, panic and greed

● How to use candlestick charts for making money from longer term trading and investing

● PLUS: Proven, market-tested trading ideas tips and common mistakes to avoid based on the author's rich experience of trading stocks and options.

This book will enable both new traders and experienced traders derive systematic and consistent profits from the market by adding candlestick charting to their trading arsenal.

REVIEWS FOR THE BOOK

"Educative addition to the technical trader's shelf." — The Hindu Business Line

"Clearly explains and reinforces the message of each candlestick pattern, pointing out other details that can help determine success or failure at each occurrence. The real life examples are manifold, well chosen and amplify the lessons being taught. Highly recommended reading for traders in all markets to discover ways of profiting from candlestick trading." — Alan Northcott

"Sadekar's book not only manages to live upto the expectations but probably excels them. Sadekar attempts to keep things simple, and targets the beginner to intermediate level technician as his target audience.

Each type of reversal, consolidation and continuation pattern is tackled in individual chapters and illustrated liberally with charts of Indian stocks. The author leaves ample strategies for the not so active trader, also combining Dow theory tools like trend lines, oscillators and moving averages with the oriental techniques. This gives the reader an immediate advantage of getting the best of both the worlds.

While all chapters are interesting read, chapters 11 & 12 are the highlights of the book as they lay out a simple but actionable game plan for a trader and investor. As if the overall package was not sweet enough, Sadekar has compiled a tear-away candlestick ready-reckoner at the end of the book to identify emerging patterns in real time. At its price, the book is a value buy. All in all, a must read book for every freshman candle sticks trader."
— Vijay L. Bhambwani, Technical Analyst, CEO - BSPLIndia.com

Ratings and reviews

Loved it!! Simple is not the same as easy. Balkrishna simply describes the centuries old art of candlestick trading, which is not easy. The examples in the book and the accompanying descriptions are so repetitive that it becomes hypnotic and the sentances become mantras. It is impossible to read this book without the repetitive words becoming a part of your chart analysis. I also love how he demonstrates where, how and why trading signals can sometimes go wrong. He re-empahises over and over again that the trader needs to always wait for confirmation and that even after confirmation a trade can go the other direction. He teaches how it is just as important to factor in loss and setting stop losses as it is in setting up trades with targets. Trader not gambler is another theme in this book along with probabilities not guarantees in trading. I definitely will be reading this book like a bible for the rest of my trading life. Quote from the book: "...trading is an unforgiving river but when you learn how to swim you'll enjoy swimming in the river for the rest of your life." Thank you Mr Sadekar. 5 Morning Stars!!!

Loved it!! Simple is not the same as easy. Balkrishna simply describes the centuries old art of candlestick trading, which is not easy. The examples in the book and the accompanying descriptions are so repetitive that it becomes hypnotic and the sentances become mantras. It is impossible to read this book without the repetitive words becoming a part of your chart analysis. I also love how he demonstrates where, how and why trading signals can sometimes go wrong. He re-empahises over and over again that the trader needs to always wait for confirmation and that even after confirmation a trade can go the other direction. He teaches how it is just as important to factor in loss and setting stop losses as it is in setting up trades with targets. Trader not gambler is another theme in this book along with probabilities not guarantees in trading. I definitely will be reading this book like a bible for the rest of my trading life. Quote from the book: "...trading is an unforgiving river but when you learn how to swim you'll enjoy swimming in the river for the rest of your life." Thank you Mr Sadekar. 5 Morning Stars!!!

This book is very good to study for beginners as well as intermediate level of traders to grasp the psychology behind the most important candlestick patterns. The author has tried his best to provide good examples through Indian stock market charts. I think I made the right choice to purchase this book as I am a beginner. I thank you sir from the bottom of my heart. And I recommend this book to anyone who wants to get in the stock market the right way and wants to have a good knowledge about candlesticks. Don't think twice. Just go for it. You won't regret it.

About the author

Balkrishna M. Sadekar is the founder of Profitable Candlestick Charting LLC., an educational company providing training to stock traders in the proper use of candlestick charting and technical analysis. He is also a member of Technical Securities Analyst Association (TSAASF.org), a leading authority for technical analysis in the United States.

With a Masters degree in Engineering, Sadekar has passionately blended technology with investor psychology analysis via candlestick charts. A trader for more than a decade, he has trained and continues training novice and experienced traders in correctly applying trading systems for profiting from equity markets.

Sadekar resides in Richmond, VA in the US and can be reached via his website, www.ProfitableCandlestickCharting.com. With his books, Sadekar hopes to get Indian traders comfortable, confident and successful in the proper application of candlestick charting.