hi

[james_gsx]

Combine VSA with something that helps you analyze price and you're golden

Whatever fits your personality then use that. If candlesticks don't fit your personality but bar charts do, then use candles. If you decided VSA doesn't work with your personality but market profile does, then use that. You will find that the real edge is your ability to be consistent by following your trading plan and embracing uncertainty while expecting to lose money. Preserve your capital and eliminate emotions and you will be successful. I wish you luck!

[nycdweller]

What's the best book on understanding candlestick patterns? I imagine understanding candlesticks would complement Walter's S&R scalping method. Thanks.

[brownsfan019]

	Quote:	nycdweller
	What's the best book on understanding candlestick patterns? I imagine understanding candlesticks would complement Walter's S&R scalping method. Thanks.

NYC,
I would recommend the following books:

The Candlestick Course (Paperback) by Nison

Japanese Candlestick Charting Techniques, Second Edition (Hardcover) by Nison

Those links will take you directly to Amazon.com.

Good luck and welcome to candle trading! Feel free to stop by the Candlestick Corner here on TL.

[Sparrow]

Thanks for your suggestions brownsfan,

what about beyond candlesticks? Not as useful as the other ones?

[brownsfan019]

	Quote:	Sparrow
	Thanks for your suggestions brownsfan, what about beyond candlesticks? Not as useful as the other ones?

I would start with those two to be honest. There's only so much you can read about the candlesticks and then you just need to watch them in real-time and put it into action.

Now Nison will lead you to believe you need every little thing he sells, but in the beginning at least, those two books will suffice. If you want more after reading those, let me know and I will give further suggestions.

[BlowFish]

Go with what brown says.

You will probably find that once you start understanding the market sentiment behind the patterns you will begin to see stuff for yourself (screen time, screen time and more screen time)

Most of the 'advanced' stuff (probably all) that Steve teaches beyond the books is discoverable for ones self. At least that was what I found.

[Hlm]

	Quote:	BlowFish
	Go with what brown says. You will probably find that once you start understanding the market sentiment behind the patterns you will begin to see stuff for yourself (screen time, screen time and more screen time) Most of the 'advanced' stuff (probably all) that Steve teaches beyond the books is discoverable for ones self. At least that was what I found.

Exactly...start by focusing on understanding the story being told via basic candlestick (price action) reading and keep in mind that the immediate time frame above and below may or may not be helping your trade. In my opinion, everything else should be somewhat common sense and will be 'discovered' with screen time.

For example, if you want to know if entering before the bar close is ideal in the current situation, dropping down to a lower timeframe may give you more helpful information to make an informative decission. Also sentiment or the "bigger picture" can be discovered by reading the story on a higher timeframe.

In my opinion, the key is to understand not only the time frame you are trading, but to also be comfortable at reading the higher and lower for more precise entries and exits. However, some traders may get this information via other indicators instead of candles to reduce the amount of charts they are looking at.