20 of 20 people found the following review helpful
Great book to start your FX career off or to expand your knowledge,
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This review is from: Japanese Candlestick Charting Techniques: a Contemporary Guide to the Ancient Investment Techniques of the Far East (Hardcover)
I have been dabbling with Forex for about two years now.
I have paid out over £1000 in courses and bought fair too many 'quick fix' robots and systems that didn't work.
So, a while ago I took another course in Price Action. This was from a well known Forex personality ... but I just couldn't get to grips with it ..
Initially I was sceptical as I watched a few videos sent to me of Nison's teachings and they where from the 1990's ... so looked old and dated. He mainly talked about stocks, not FX which is what I am interested in. But the other reviews on Amazon convinced me to buy it.
The difference with Nison's book is the explanations. I do not know if it is just me, but I like a little knowledge behind them.
Whilst he doesn't tell you what to do, the explanation of why the candle forms the shape it does, provides you with the clues of when and how to trade.
It explains a bit about how the market behaves and why ... and you gain an insight into the psychology of the market. It is almost bread crumbs to lead you to the answer yourself, which develops a greater understanding and knowledge of what the 'answer' is.
This helped me to understand what other traders could be thinking when they take their trades and why that causes the markets to move.
Because I can now see the patterns, understand why they formed and what other traders may be thinking (and why)... I can use this to be better informed about the market direction.
Some other courses or explanations just tell you what to do after the pattern has formed ... this doesn't really help the intelligent trader! Monkey See Monkey do doesn't cut it in Forex for me.
I have taken this knowledge and applied it to Binary Options trading. Since then, my trades are 90% - 100% winners, when before I was losing!
I am glad I bought this book ... It is a shame I didn't do it earlier!
Would I recommend it ... YES YES YES!!! You will make the money back this IS AN INVESTMENT!