# Difference between Penfold's books and Candlestick book recommendation



## bullet21 (1 August 2010)

Just finished Universal Principals and found it very informative. Im thinking about purchasing Trading the SPI, but he does mention in Universal Principals that he will be repeating some of the stuff from SPI.

Anyone read both and think its worth purchasing the Trading the Spi after having read his latest? Or will it just be revision.

Also im looking at buying a good candlestick charting book. From what ive read Candlestick Charting Techniques by Nison seems to be the go, but it is quite pricey. Any other recommendations, though if you think Nisons is the best i will gladly fork out the cash.


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## brty (1 August 2010)

> From what ive read Candlestick Charting Techniques by Nison seems to be the go, but it is quite pricey.




If you think the cost of what "seems to be the go" is too expensive, then you are not in a position to consider trading/investing.

I have hundreds of trading books that I have collected over the years, most are fairly useless but have contributed to my education as a trader. Most of what I use these days is not in any book anywhere.

By saying "contributed to my education" I mean in a way to find what works in certain circumstances/times only, yet fail at other times. To find approaches that don't suit my personality/pain levels etc.

brty


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## bullet21 (3 August 2010)

brty said:


> If you think the cost of what "seems to be the go" is too expensive, then you are not in a position to consider trading/investing.
> 
> brty






bullet21 said:


> Also im looking at buying a good candlestick charting book. From what ive read Candlestick Charting Techniques by Nison seems to be the go, but it is quite pricey. Any other recommendations, *though if you think Nisons is the best i will gladly fork out the cash*.




Any other recommendations on books on candlesticks?


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## noie (3 August 2010)

Everything i know comes from an old book

Japanese Candlestick Charting Techniques, 2nd Edition (2001)

I have an e-copy somewhere, unsure of the forums sharing rules (any mod)


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## waza1960 (3 August 2010)

I would recommend Martin Pring's books especially content relating to Stochastics,momentum and candlesticks if you want to trade the spi


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## Timmy (4 August 2010)

noie said:


> Everything i know comes from an old book
> 
> Japanese Candlestick Charting Techniques, 2nd Edition (2001)



That is Steve Nison, right?  Can't remember where I got my e-copy of this book from.



noie said:


> I have an e-copy somewhere, unsure of the forums sharing rules (any mod)



If it is copyright then posting it up here on ASF is not permitted.


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## tech/a (4 August 2010)

I have both.

*Penfold repeats the stuff that makes you money.*

For the cost of "Trading The SPI" its worth having.
Some ideas there.

To be in the position to do what Penfold recommends TWICE ---once in each book.
You'll need to have excellent testing software.
A sound coding ability
A trading methodology
and a few grand.

If not then the crux of his work will have fallen on deaf ears and blind eyes.

Much of the works of various writers and trading ideas bought forth haven't been tried and proven.
At least with Penfold's you know they have.

As others have said books are good for "ideas" but in practice many times those ideas in isolation are pretty useless.

An idea which has a proven positive expectancy particularly when combined with other ideas ---tested---traded with your "mentor" as Penfold suggests
gives you the most likely chance at consistent profits.


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## It's Snake Pliskin (4 August 2010)

tech/a said:


> I have both.
> 
> *Penfold repeats the stuff that makes you money.*
> 
> ...



A good informative reply. A like button would be good for this.


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