Wayne A. Corbitt - All about Candlestick Charting

All About CANDLESTICK CHARTING

THE EASY WAY TO GET STARTED

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THE EASY WAY TO GET STARTED

WAYNE A. CORBITT

To Jaime Your smile lights up my life

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ISBN: 978-0-07-176313-4
MHID: 0-07-176313-9

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Arm yourself. These two words have never been more appropriate for trading and investing than they are today. Knowledge is power, especially when it comes to investing your hard-earned money. Even with the exposure of Wall Street criminals (Madoff, Sanford, et al.), financial gimmickry (QE1 and QE2), and high-frequency trading, the markets still have enough quality to allow the average person to participate in an effort to build and protect his or her wealth. Whether you trade your own money or have a trusted advisor watching over your funds, this book can be of use to you. Employing the techniques presented here will help you gain more confidence in trading your own account or allow you to have an informed conversation about the position of the markets with your money manager.

Candlestick charting has been around for centuries and really does shed more light on the mindset of traders than do the other standard charting methods. This book is not about laying out a hard and fast trading system with rigid rules. Some rules always must be followed when it comes to managing risk, but by combining Western technical analysis with candlestick patterns, you should be able to develop your own trading system. It is my intention to lay a basic foundation of the principles of both candlestick charting and technical analysis to allow you to take this knowledge as far as you want to go with it. My favorite technical analysis books over the years have been those which planted seeds that allowed me to try my own ideas and come up with my own way of doing things. I hope this book will do that for you.

Before we begin the journey into candlestick charting, I would like to acknowledge some of the good people in the industry whose legacies will far outweigh the blemishes of the crooks named above. Constance Brown, whose work has inspired me to dig deeper with her fantastic knowledge base and writing style, is one of the truly great teachers in the industry today. Martin Pring is a living legend in the technical analysis industry and has done extensive work with momentum indicators. Greg Morris, whom I had the pleasure of meeting in October 2010 in Las Vegas, is a true gentleman and family man. His down-to-earth demeanor is refreshing in an industry filled with egos and self-promotion. Gregs work with candlesticks in the 1990s also helped pave the way for people like me to pick up this superior charting methodology and share it with others. Last but not least I would like to acknowledge Mark Leibovit, whom I have known for over seven years. Marks work with volume is viewed by many as the gold standard in the industry. I first began working with Mark by utilizing my programming background to help develop trading signals for his systems and perform daily data runs to assist with his daily market analysis. Mark also asked me to assist him on his recently released book,