Steve Nisons Candlestick book -
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thread: Steve Nisons Candlestick book

  1. #11
    In the DVDs, Steve Nison explained that he has 18 trading principles that he taught to institutional traders. But from the DVDs, he just mentioned selected few such as Principle #6 - A candlestick line or pattern requires two standards: (I) The shape of the line or pattern (ii) The preceding fad. The criteria about preceding trend is what the majority of candlestick readers dismissed when they discovered a pattern installation.

    I am just curious for completeness sake, if anyone can inform me where to find all 18 principles. I tried searching but the phrases are too general.

    I highly recommend the DVDs Profiting in Forex by Steve Nison.


  2. #12
    Hey guys I'm reading through Steve Nison's Japanese Candlestick Charting Publiion and I have a question on Its Own Software to Forex.

    I've just begun reading the book, but it seems that a few of the patterns are based on the difference of close/open prices between days. Because it talks about markets with limited trading hours, the closing price of one day is not necessarily exactly the same as the opening price of the next day. These gaps are used by him in the definition of some of these patterns. Since Forex is a 24h market, these do not really apply....
    Its a long time since I read SN's publiion and whilst I dont use candle patterns in my trading I would highlight the following problem.

    As you've correctly said, Currency Market is a global, 24 hour market which usually means that distinct brokers maintain different hours, with their trading / analysis progr set accordingly with different start times. Therefore, on ANY chart above the 60 minute they will show DIFFERENT candles based on their own chart start times. This is especially noticable on the 4 hourly and daily charts and IMO makes candlestick pattern trading worthless on these TFs.

    You might read a few of 's posts in this thread - he uses candlesticks on the decreased TFs. Good luck.

    .

    https://www.cliqforex.com/trading-sy...s-markets.html

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