The Power of Japanese Candlestick Charts – Advanced Filtering Techiques for Trading Stocks Futures and Forex – By Fred Tam

2015, 368 pages, by Fred Tam

For a book that is from 2015 we expect some “NEW” information,  new trading techniques, new “Whatever”…

Well, this is NOT the case.

It is a very well-written and structured book but lacks at the very minimum, backtesting. We are all tired of books about candlesticks and HOW they are great, but at this point in 2021, we expect a little more work from the authors. Backtesting nowadays is common ground, even doing backtesting in raw and flawed tools like Metatrader is easy to do, so it is no excuse for an author to state whatever pattern he is studying, just to say whatever he wants WITHOUT backtesting. Nowadays this kind of information is totally useless.

My recommendation is, if you want to study candlesticks seriously, stay with authors like Nison and Bulkowski.

And the “Advanced Filtering Techniques” is applying CCI, MACD, Stochastics, and all those common knowledge indicators into the “analysis”. And again, WITHOUT a SINGLE Backtest to prove the “Filtering” process!

#TotallyLame!