38 of 38 people found the following review helpful:
Good concept, but too repetitive, 2003-12-24
the first 3 chapters touch very briefly on psychology, fibonacci tools and candlesticks charting as an introduction. it is concise, just about sufficient to give uninformed readers a basic understanding in these topics. for a deeper understanding of these subjects; steve nison's 'japanese candlestick charting' and fischer's 'new fibonacci trader' are excellent. these chapters were easy for me as i had already read those 2 books.chapter 4 is what seems to be a pretty useless chapter where the author states statistical tests done on the profitability of each method described in the previous 2 chapters (ie the various candlesticks and fibonacci tools). he would repeat the description of each method and show their profitability tests over certain periods.
chapter 5 details a very useful method of using fibonacci trading, the PHI-ellipse. however, this chapter only repeats and expand what you'd have read in the previous chapters. note: PHI ellipses was already covered briefly in chapter 2. PHI ellipse is also found in 'new fibonacci trader'.
chapter 6 teaches you how to combine the various methods discussed. the author would repeat some of the methods as he reintroduce them. an illustration of how repetitive the book is, the chapter is 50 pages long, half of which are graphics and there are summaries after each topic/method; yet there is a further summary to this chapter of 2.5 pages. obviously, the summary is a repetition!
there would be a last chapter of summary for the entire book...
a software for using the proprietory PHI-ellipse is provided with this book. i find that i cannot use it so far. but this may be due to my own inadequacies with the computer... or a conflict as the software has some very strict requirements for the charting data.
a good book with good theories but the author need to organise it better. the end product is disorganised and repetitive. readers could just read 'japanese candlestick charting' and 'new fibonacci trader', apply some common sense to combine these 2 methods and skip this book. the same CD-ROM software for the PHI ellipse come with 'new fibo trader'.
29 of 31 people found the following review helpful:
Fibonacci ,selected chart patterns and candlesticks., 2003-10-23
This book is a combination of Candlestick, Fibonacci and some basic chart patterns, Three quarters of the books discussed the basic principles and applications of these three tools, only the last chapter show you how to apply these tools together. The explanation of candlestick and chart pattern seem to be too brief, and the fibonacci part overlays a lot with the author's previous book. I would suggest you to buy this author's previous book "The New Fibonacci trader" together with Steve Nison's "Japanese Candlestick Charting Techniques¡¨, and it would be sufficient for you.