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Suggestions for Steve Bigalow's new book...
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TimThompson



Joined: 09 Sep 2004
Posts: 38
Location: Houston, Texas

PostPosted: Sun Jan 30, 2005 11:14 am    Post subject: Suggestions for Steve Bigalow's new book... Reply with quote

As was mentioned in the Jan. 29th newsletter, we would like all of you to tell us what topics you would like to see covered in Steve's new book, "High Profit Candlestick Patterns" which is currently being written.

This book is being directed toward taking the knowledge conveyed in "Profitable Candlestick Trading" and applying that information to reoccurring, easy to recognize trading patterns. It will be utilizing the knowledge of other well known analysts as well. The technical analysis they provide will focus on applications of the Candlestick signals to enhance their trading techniques.

So, here's your chance to have a Candlestick trading book customized just for you!

Please feel free to contribute. All suggestions are welcomed and appreciated.
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laird154



Joined: 28 Sep 2004
Posts: 1
Location: NY

PostPosted: Sun Jan 30, 2005 2:09 pm    Post subject: The New Book Reply with quote

I would like to see some discussion of candle setups to AVOID,side by side with a better signal, failed setups that looked strong at the outset.

Buying with stock at or near new highs with stochastics in overbought area, justification/rationale for doing so. Ditto for shorts.

Also, for users of TC2000/Net, examples of using 1,2,3 day charts (which can be quickly accessed by using the scroll wheel on the mouse) to spot setups which may not have been apparent on the daily chart.
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tab321



Joined: 22 Jan 2005
Posts: 368
Location: Texas

PostPosted: Sun Jan 30, 2005 3:18 pm    Post subject: Market Direction Reply with quote

Steve

For the new book, I would love to see a section on How to Determine General Market Direction. That sounds like second grader stuff but really......many of the smart ones did not know we were in a relentless march upward in 2003 until 2003 was over. Likewise, many of us never realized we were sideways to down in early 2004 until that stage was over.

So - what defines a "Bull Market Condition" - is it the Price above the 50 Day MA? Is it the Ten Wk Moving Average above the Fifty Wk Moving Average? Is it making a new forty day high? What is it?

There is something about Market Condition that creates an environment for what kind of stock plays to make. There are times when it is best to buy stocks that are shooting out the top with stochastics pegged to the roof and there are times when you are better off to buy into the ones that are momentarily beaten down.

Any guidance on Market Direction or Market Condition would help.

Thanks
tab321
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Jan 30, 2005 3:37 pm    Post subject: Market direction Reply with quote

Excellent, this is exactly what I was looking for. Will do a section on those parameters
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kermitp



Joined: 25 Jan 2005
Posts: 48

PostPosted: Sun Jan 30, 2005 5:09 pm    Post subject: Complete trading system using candlesticks Reply with quote

I'd like to see the book cover every aspect of Trading not just candle patterns. Finding candidates is the easiest part of trading. People need to know the entire process. Including how to select a broker, how to execute different type orders. how to combine setups for high quality candidates, how to enter a trade effectively and when not to enter, When to exit for loss and profit, how to do position sizing, how to calculate the maximum open positions, Risk management and Of course candlestick patterns of when and when not to play.

A chapter on market direction, sector selection, using futres to determine the days trading. What international indices to watch and when.

If you really want get into it how about a chpater on cycles. We all know everything has a cycle.
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sailorboy



Joined: 30 Jan 2005
Posts: 30
Location: Malta

PostPosted: Sun Jan 30, 2005 5:49 pm    Post subject: Steve Bigalow's new book Reply with quote

Suggestions posted so far are very interesting. What I would like to see in addition is guidance on money management.

Also after entering a trade which has produced some profit what is the reasioning one should use to decide whether to take profits or add to a position on a pullback.
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Jan 30, 2005 6:30 pm    Post subject: Good ideas Reply with quote

Keep them coming
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Sun Jan 30, 2005 7:08 pm    Post subject: Reply with quote

kermitp's trade on AMX has shown that long term strategies can be useful. Looking at AMX I see many occasions when I would have got out based on candle signals and would have been reluctant to get back in and so miss out on this great run. How do we get around this problem.
Also, some ideas on when to use option plays over all time frames as well as when to use various option strategies. Exiting option trades seems to require a modified mindset to stock trading in some instances. Can this be explored along with money management techniques fo r option traders.
Thanks
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cbballard



Joined: 30 Jan 2005
Posts: 1

PostPosted: Sun Jan 30, 2005 7:47 pm    Post subject: re: new book Reply with quote

maybe you could include a section for people like me who like to do things on the cheep!
such as using: MSN Money Deluxe Stock Screener and giving the setups that duplicate results found in more expensive programs, including stoch.
thanks
CB
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Trademonkey
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PostPosted: Sun Jan 30, 2005 9:01 pm    Post subject: Steve's new book Reply with quote

Please, please include volume on all the charts in the new book. I believe that candlestick interpretation is greatly enhanced when viewed with volume. Seeing volume gives a more insightful meaning to the range and real body story of the candlestick bar. Please include volume. Thanks.
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dtdtrader



Joined: 15 Sep 2004
Posts: 24

PostPosted: Sun Jan 30, 2005 9:03 pm    Post subject: Reply with quote

I would be interested in how to use Candlestick signals to trade options. The entry point is so critical with options, I'd be interested to see Mr. Bigalow's thoughts.
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BB
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PostPosted: Wed Feb 02, 2005 7:38 am    Post subject: New Book Reply with quote

I would like to see lots of examples of the Major Signals and
when you would Buy. Your Stop and Target.

Thank You
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bananawind2



Joined: 30 Jan 2005
Posts: 1

PostPosted: Wed Feb 02, 2005 12:01 pm    Post subject: Reply with quote

I just read High Profit Candlestick Patterns this month for the first time and enjoyed the common sense, easy to understand approach that Steve uses.

Because of the market stage that we are currently in, I find myself watching for bullish engulfing patterns in low short term stochastics stocks the last couple of weeks. They seem to be working well now but I would guess that different patterns work better in certain market conditions.

If a decision is made to include a section in the book about determining market conditions perhaps a few words about what patterns should be watched more carfully in certain market condititons would be helpful. For instance, if the market continues to move up for the next 2 or 3 weeks, I would think that finding bullish engulfing patterns with low stochatics would not reveal many candidates. What patterns would work best for a market that's in an intermediate term bullish trend?
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parkdoc@aol.com
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PostPosted: Wed Feb 02, 2005 2:35 pm    Post subject: idea for new book Reply with quote

I would like to see a cheat sheet with an easy way to remember which signals/patterns require a confirmation day and which do not. For example, ARBA had a bullish engulfing and stochast moving up before it crashed.

I would also like to see a cook book approach for exactly how to set up scans in TC2000.
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Wed Feb 02, 2005 2:41 pm    Post subject: suggestions Reply with quote

Thanks for these suggestions, keep them coming, they will be incorporated into the book and made into articles as well. Appreciate everybody's taking time to add to this forum
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