What's the best resource for learning about candles?

[Reaver]

I was wondering: What would you consider the best resource for learning more about candles?

I trade momentum and would like to learn more about candles to possibly incorporate them into my method.

There are a lot of books, sites etc about candles...but I am hoping someone can help separate the wheat from the chaff a little!


Thanks!

Nate

[torero]

You ask just the right questions at the right time:

http://www.traderslaboratory.com/for...stop-2118.html

[TinGull]

Anything by Steve Nison. Just search amazon or go to your library. My library has all of Nisons stuff.

[Reaver]

Thanks Tin. Just wondering...so far I am trying to pick between Greg Morris and Steve Nison. Do you have any thoughts on that?

[TinGull]

I've never heard of Greg Morris, and I know Nison is the one who brought candlesticks to the west...so I'd go with Nison.

[Reaver]

Greg Morris is/was John Murphy's investment partner- He apparently has been messing around with candlesticks a while too.

Thanks for the info.

[cooter]

Is it me, or is it curious that you'd think that since the candlesticks were developed by rice traders in Japan several centuries ago before the West even knew what they were, that perhaps the experts in this matter might be Japanese?

It somewhat amuses, yet appalls me that Westerners should come around to another culture, usurp its technology, and then declare themselves as the experts in the "new" technology.

So, with candlesticks, is this the case? Love to hear an Eastern perspective - perhaps Soultrader, you might have some insight or opinion on all of this?

thxs

[Reaver]

I have wondered that myself- however I think it's a matter of culture barrier or whatever you want to call it. Maybe lack of accessibility is a better term....

I wouldn't argue that there are many Japanese traders that eat sleep and breathe candlesticks and could wipe the floor with many outsider analysts...however, the human mind is amazing in its capacity to learn, so if one were to put forth adequate time, effort and research, I don't think it would matter where you're from as far as how skilled you end up being.

Nison stated, if I remember correctly, that he had to spend a considerable amount of time learning more about Japanese culture and philosophy in order to grasp the subject matter.

[TinGull]

	Quote:	cooter
	It somewhat amuses, yet appalls me that Westerners should come around to another culture, usurp its technology, and then declare themselves as the experts in the "new" technology.

I dont recall Nison claiming this as a "new" technology and claiming it as his own. He may very well be an expert on the subject, but I don't know that it matters whether the subject originated in Japan or Germany or Albania.

[brownsfan019]

Reaver - start with Nison. He's the godfather of candlesticks if you will.

Here's 2 reviews I did on TL for a couple books:
http://www.traderslaboratory.com/for...tion-1561.html

http://www.traderslaboratory.com/for...ison-1560.html

Steve's website is: http://www.candlecharts.com/

Keep in mind that 1 or 2 books is just the tip of the iceberg. I would strongly suggest taking a look at his DVD's as well and/or attend a live event, if you are/get serious about learning more.