The Secret Code Of Japanese Candlesticks Wiley Trading-Books Pdf

The Secret Code of Japanese Candlesticks Wiley Trading
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The Secret Code of Japanese Candlesticks, For other titles in the Wiley Trading Series. please see www wiley com finance, THE SECRET CODE OF JAPANESE. CANDLESTICKS, Felipe Tudela, Copyright 2008 Felipe Tudela. Email for orders and customer service enquiries cs books wiley co uk. Visit our Home Page on www wiley com, All Rights Reserved No part of this publication may be reproduced stored in a retrieval system or. transmitted in any form or by any means electronic mechanical photocopying recording scanning or. otherwise except under the terms of the Copyright Designs and Patents Act 1988 or under the terms of. a licence issued by the Copyright Licensing Agency Ltd 90 Tottenham Court Road London W1T 4LP. UK without the permission in writing of the Publisher Requests to the Publisher should be addressed. to the Permissions Department John Wiley Sons Ltd The Atrium Southern Gate Chichester West. Sussex PO19 8SQ England or emailed to permreq wiley co uk or faxed to 44 1243 770620. Designations used by companies to distinguish their products are often claimed as trademarks All. brand names and product names used in this book are trade names service marks trademarks or. registered trademarks of their respective owners The Publisher is not associated with any product or. vendor mentioned in this book, This publication is designed to provide accurate and authoritative information in regard to the subject.
matter covered It is sold on the understanding that the Publisher is not engaged in rendering. professional services If professional advice or other expert assistance is required the services of a. competent professional should be sought, Other Wiley Editorial Offices. John Wiley Sons Inc 111 River Street Hoboken NJ 07030 USA. Jossey Bass 989 Market Street San Francisco CA 94103 1741 USA. Wiley VCH Verlag GmbH Boschstr 12 D 69469 Weinheim Germany. John Wiley Sons Australia Ltd 42 McDougall Street Milton Queensland 4064 Australia. John Wiley Sons Asia Pte Ltd 2 Clementi Loop 02 01 Jin Xing Distripark Singapore 129809. John Wiley Sons Canada Ltd 6045 Freemont Blvd Mississauga Ontario L5R 4J3 Canada. Wiley also publishes its books in a variety of electronic formats Some content that appears in print. may not be available in electronic books, Library of Congress Cataloging in Publication Data. Tudela Felipe, The secret code of Japanese candlesticks Felipe Tudela. Includes bibliographical references and index, ISBN 978 0 470 99610 2 cloth alk paper. 1 Investment analysis 2 Stocks Charts diagrams etc I Title. HG4529 T83 2008, 332 63 2042 dc22, 2007050378, British Library Cataloguing in Publication Data.
A catalogue record for this book is available from the British Library. ISBN 978 0 470 99610 2, Typeset in 10 12pt Times by Integra Software Services Pvt Ltd Pondicherry India. Printed and bound in Great Britain by TJ International Ltd Padstow Cornwall UK. Acknowledgments vii, Introduction ix, 1 The Truth about Japanese Candlesticks 1. 2 The Spirit of Sokyu Honma s Method The Master and the Disciple 3. 3 The Samni No Den of the Market The Subjective Part of the Method 5. 4 The Five Sakata Methods The Objective Part of the Method 9. 5 Trading with Sokyu Honma s Method 15, 6 Japanese Candlesticks A Precision Tool within the Market s Great. 7 Algorithm in Tabular Format for the Five Sakata Methods within. Sokyu Honma s Great Cycle 37, 8 Thirty seven Applications Involving Indexes Stocks and Futures 51. 9 Back to the Samni No Den 99, 10 Learning to Analyze the Markets from a Trader s Viewpoint 105.
11 Your Magic Talisman 117, vi Contents, 12 Before Taking a Position Think 125. 13 How to Exit a Trade 137, 14 How to Manage Your Risk 141. 15 All You Will Ever Need to Know about Stops 153, 16 Putting It All Together in a Simple but Winning Approach 159. 17 Trade Now 163, 18 Some Thoughts about Trading Philosophy 167. Conclusion 175, Appendix What Is a Candlestick 177.
Bibliography 185, Acknowledgments, I want to thank first of all Thomas DeMark without whom this book would not. exist He immediately recognized the value of my work encouraged me in my. research and made it possible for this book to be published by John Wiley. Sons Ltd I have always admired Tom s work and his encouragement gave me the. confidence and resolve that I needed to complete this book. I must also thank Patrick Sauty Vice President of AFATE French Association of. Technical Analysis who was the first to organize a seminar in Paris in which I was. able to explain this new perspective of Japanese Candlesticks Thanks also go to. Thi rry B chu former president of AFATE teacher at Dauphine and fund manager. for SGAM Soci t G n rale Asset Management Etienne Laisney who teaches. Technical Analysis at l ISEP and l ESG Julien Nebenzahl CEO of Day by Day and. President of AFATE and Jo l Villecroze CEO of Trium Equity Derivatives. In addition I would like to thank my friends Don Mack former editor of. the Traders Masterclass series at Pitman Publishing Financial Times and Albert. Labos teacher trader and magician for having shared their insightful knowledge. of markets with me, I extend a very special and unique thank you to my wife Annie whose love. company and support helped me to create the space and time in which to do this. Finally a word of thanks to those who helped me along the way to make this. book a reality Here I especially want to mention Cherline Daniel of Integra Pamela. van Giessen of John Wiley Sons Inc and Caitlin Cornish Aim e Dibbens. Karen Weller and Louise Holden of John Wiley Sons Ltd whose help was. indispensable I would also like to thank Shawn Fawcett who provided me with. the best possible blueprint to create a book George Robinson who gave attentive. and focused care to the edit and Jose Antonio Pancorvo who also took the time to. read the book and make useful suggestions to improve it. Lastly a thank you is due to all of my friends and students who helped me along. Introduction, Would you like to acquire a powerful trading tool that is efficient and precise Such. a tool exists It is the foundation to Japanese candlesticks This book is about. them You are about to discover the truth about Japanese candlesticks It is a truth. that no one has ever explained before, Japanese candlesticks are fashionable Their exotic nature attracts the public to. them and they are surrounded by an aura of arcane science and seem inaccessible. to the uninitiated They have a magic of their own the magic of an ancient. civilization and also have strange sounding names Dojo Marubozu etc. However they do not work efficiently except for a very small number of traders. The reason for this is that few people today are willing to study a trading method. until they master it Candlesticks are also difficult to handle given the diversity of. their patterns Most important is the fact that Japanese candlesticks have a unique. master key that must be understood in order to make them work. We are going to explain this key and illustrate it with practical examples It will. change your way of looking at candlesticks and at markets. The Truth about Japanese, Candlesticks, The truth about Japanese candlesticks is very simple Japanese candlesticks refers.
to the method that has guided the success of Japanese traders for centuries Orig. inally Japanese traders made no use of Japanese candlesticks They used another. From time to time a contemporary author mentions it briefly without making it. part of his trading or giving it the prominence that it deserves This method which. was used prior to candlesticks is not explained in any book What method was. employed by the Japanese traders who had no use for Japanese candlesticks. We will come to that soon but first let us trace its history. THE ORIGIN OF JAPANESE CANDLESTICKS OR HOW, KNOWLEDGE OF THEIR HISTORY COULD TURN YOU. INTO A SUCCESSFUL TRADER, Kosaku Sato was born in 1716 during the Tokugawa period in the city of Sakata. in the Yamagata prefecture It was the eighth shogunate Kosaku Sato was adopted. by the Honma family and became known as Sokyu Honma. Sakata was then one of the main ports and centres for rice distribution This is. where Sokyu Honma built a fortune founded on his study of fluctuations in the. price of rice He developed tactics and strategies that made him an awe inspiring. man in Osaka Kyoto and Edo His personality was charismatic He was thought. of as a man of knowledge and a market magician His reputation was such that. the Emperor bestowed the title of bushi or samurai on him Sokyu Honma was a. strategist and a market warrior1 whose exploits were celebrated by a popular song. of the time, 2 The Secret Code of Japanese Candlesticks. When it shines in Sakata its cloudy in Dojima, and in Edo it rains. Nobody could ever be a Honma, But everyone would like to be at least a lord 2.
Sokyu lived to be 87 years old and died in Edo His trading had been based on. a secret method that he had created This method passed down from generation to. generation is the subject that we will explore in this book. SOKYU HONMA S METHOD, Honma s method has two parts Neither mentions candlesticks These two parts are. a the Samni No Den of the Market, b the Sakata strategies. These will be explained but a question remains At what time do Japanese candle. sticks make their appearance since the master makes no mention of them. Japanese candlesticks made a late appearance near the end of the nineteenth. century 3 They were developed at the beginning of the Meiji era in Japan although. their exact origin is unknown However there are many hypotheses One hypothesis. suggests that candlesticks were a kind of bar chart that was used by some American. traders and was subsequently taken over and developed by the Japanese. What really matters is that Japanese traders using candlesticks whatever their. origin or power must use Sokyu Honma s method above all Japanese candlesticks. exist for one reason to refine and give added precision to Sokyu Honma s method. However the true method belongs to Sokyu Honma This method is so simple. so logical and so powerful in its simplicity that it can perform without Japanese. candlesticks As William of Occam a Western fourteenth century master logician. said entia non multiplicanda or let s keep it simple. In the following pages we will explain this method. The Spirit of Sokyu Honma s, Method The Master and the. As we learned in the previous chapter Sokyu Honma developed his method in two. a the Samni No Den of the market the subjective part of the method. b the Sakata strategies the objective part of the method. All great traders possess the same spirit and the same reflexes Both parts of Sokyu. Honma s method prove that he understood the immutable principles of a savvy. speculator, The Samni No Den of the market concerns the subjective point of view the. trader s attitude The Sakata strategies relate to an objective point of view. the market s basic structures Both perspectives constitute an indivisible whole. because to operate in the markets implies a knowledge of the market and a knowl. edge of oneself What role does theory play in all of this. It is here that we must make a distinction between Western and Eastern atti. tudes For a Japanese trading master the acquisition of knowledge is practical and. not theoretical Theory only plays a preliminary role The passage to practice is. immediate It is practice that will answer the pupil s questions. A bad habit that is often prevalent among Western students bothers Eastern. masters This habit is asking questions without any real purpose This is the. Western critical attitude To ask questions is normal when acquiring knowledge. but often questions reveal unattractive aspects of the student impatience and lack. of maturity, For the Eastern master true knowledge appears when mental agitation ends In.
order to learn one must concentrate on only one thing and let reality bring its own. 2 The Secret Code of Japanese Candlesticks When it shines in Sakata its cloudy in Dojima and in Edo it rains Nobody could ever be a Honma But everyone would like to be at least a lord 2 Sokyu lived to be 87 years old and died in Edo His trading had been based on a secret method that he had created This method passed down from generation to generation is the subject that we will explore

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