Book Shelf

Book review of : Japanese Candlestick Charting Techniques

Intraday Trading Technique

A good starting and reference point for learning Technical Analysis.

If you are relatively new to the financial markets, chances are that technical charts may seem overwhelming at first. This is a great book if you want to learn the logic of technical analysis. It is a written in a very interactive and smooth flowing manner. The content is broken down into 20 chapters most of them describing different types of patterns and interpretations. The further classification of these occurrences into reversals and continuation patterns really gives the readers a firm basis to learn. He discusses the psychology of the candlestick patterns which will help the readers to understand the subject ground up. The book is filled with charts and drawings making it all the more exciting. He has also dedicated a few chapters for the study of indicators like Moving averages, Fibonacci retracements, MACD, Oscillators, open interest etc. This can help you refine your skill set. The questions at the each chapter is a very useful learning tool. This field of knowledge is presented in a very ‘dependable’ way and most of the writing seem optimistic from the word go.

One of the drawbacks of this book is that it does lay emphasis on the effect of market cycles. For instance, the condition of the overall market would play a significant role in determining the patterns. Also I think the significance of the patterns differ from a case to case basis.

This book will be most useful to people who believe in:

Short Term trading

Directional trading

Timing the market

Algorithmic trading and coding strategies

Technical stuff more than fundamentals

It is an enjoyable read. Specialized knowledge is not required to understand this one.

Tejas Khoday

Tejas Khoday

Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.

21 Comments

  • Avatar Digvijay says:

    Thanks for your 30 Day challenge it has really helped me a lot!

  • Avatar Amit Singh says:

    what is the price of this book?

  • Avatar Vijay says:

    Write more reviews for trading. It will help to know which are the latest books to read.

  • Vinod110 says:

    Dear Tejas I follow you very closely and I am impressed how fast Fyers is growing! I think you are sacrificing your personal life for traders. I was a beginner 1 year ago but now I know some basics but not much about candlestick charting and all… can you come out with something to educate in a systematic way. I am willing to pay if you are the coach also.

    • Tejas Khoday Tejas Khoday says:

      Hi Vinod, thanks man. Yeah, I have been receiving many many requests to start an education portal off late. Considering that there is no proper place where people are being educated about markets, we’d like to do our best in that arena. We’ll work on it and let’s see what happens. Will keep you posted by email.

  • CMT_Aspirant says:

    Good stuff.. Tejas what books should I read before taking up CMT?

    • Tejas Khoday Tejas Khoday says:

      Hello, CMT is comprehensive in itself as it covers all topics with regards to technical analysis. Jump right in if that’s what you’re looking for.

  • Avatar Nadia says:

    Great site. Just had a quick read.

  • Avatar Gaurav Chetty says:

    Tejas thank you for taking the effort of trying to direct people to educate themselves. I am a regular follower of yours on Twitter & Quora.

  • Avatar Vanish Gowda says:

    Do you give trading coaching in bangalore? I want to learn but not from books.

  • Avatar TechnicalStar says:

    This is a basic book, i read this in school.. Technical analysis takes time to learn and relying on experts is the best way to make money in markets.

  • Avatar Chalapathi says:

    Useful for sure… I already have this one.

  • Avatar Jai Jeevan says:

    What do you recommend, Should I read this first or learn about fundamental investing?

    • Tejas Khoday Tejas Khoday says:

      Hi Jeevan, learning needs to happen simultaneously. To able to predict the markets is as important as understanding the fundamentals. So I suggest you do both side by side.

  • Avatar Dr Pramod Manjrekar says:

    Hi Sanket, Can you tell me which website can show online BSE/NSE graphs and we can apply our technical studies on it..I have seen ET is better than Moneycontrol but they are bit slow compare to current market ..some show 5 min data but some do not have the option..except 15 min data or 1day or week is not useful for intraday or derivative trading..pls guide

    • Tejas Khoday Tejas Khoday says:

      Hi Pramod, Just visit this page: https://fyers.in/fyers-one/
      We provide BSE & NSE charts and a fully fledged software that you can
      use for free. We don’t charge unlike other paid softwares. All you have to
      do is open a trading account with us. Get in touch with us.

  • Avatar Sanket says:

    I want to learn derivatives trading please help me for the same

    • Tejas Khoday Tejas Khoday says:

      Hi Sanket, Use our trading platform, it will help you a lot in trading derivatives.
      Stock screeners, heat maps, options data etc. are what you’ll need. Read more on Brainstorm.

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