Beginners Guide to Candlestick Trading and Succeeding in financial markets
In this day and age of market volatility achieving profitability in trading seems a far cry unless you have an army of analysts working on models, and presenting varying case scenarios. Beginners are scared to get into financial markets due to this uncertainty. Even experienced traders are finding it challenging to turn profit consistently.In this scenario comes The Candlestick Trading Bible, a new book about how to identify candlestick patterns, understand their implication on the markets, and use this knowledge to turn a profit. Written by Lucas Lynch, The Candlestick Trading Bible can be considered a beginners guide to trading for profits. A seasoned trader, financial educator and author, Lynch has years of experience in the financial markets with amazing analytical skills, specializing in candlestick patterns and price action trading. In this book Lynch puts forth his years of experience and passionate drive to educate the reader on improving strategies, reduce risk, and achieve profits consistently.
The Candlestick Trading Bible is a great guide for beginners to establish a structured approach to analyzing the markets, navigating financial markets successfully, avoid costly mistakes, build strong financial portfolio, develop a strategy, to achieve consistent profitability. The 184 page book is divided into five sections/ books each with different chapters dealing with different approaches and strategies aimed at helping the reader succeed in the market.
The chapter on foundations of candlestick trading explains the origins, importance, and how to identify patterns. "Visualize a bustling marketplace teeming with traders who exchange tales of triumph, caution, and invaluable lessons learned. The language spoken in this arena is one of discipline, precision, and insight," writes Lynch explaining the foundations of candlestick trading. Different candlestick patterns including Doji, Hammer, shooting star, engulfing patterns, etc are explained in detail in this chapter.
As we progress into the book Lynch explains more advanced concepts of candlestick trading such as Bullish and Bearish engulfing, how to read market momentum, and finally explaining how to master the psychology of trading. How to deal with emotions that engulf the trader during times of market upheavals. How to overcome psychological trading pitfalls is an interesting chapter that helps even seasoned traders improve and succeed in this psychological game of financial trading.
In the final conclusion chapter Lynch reemphasized the importance of "consistent application" of candle strategies and techniques to attain success. There is also a important tips on how to acknowledge and overcome psychological battles that accompanies trading.
Overall I feel that this book is a great tool for beginner traders with its great tips and tricks on successful trading.