Encyclopedia of Chart Patterns, 2nd Edition (Wiley Trading)

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Bulkowski even starts the book off with useful novice and intermediate information and tips and tricks for all, like what chart horizon time frames can these patterns be used for. Even more interesting is the fact that he even includes Failures, busted patterns, and almost any variation of the pattern. The Encyclopedia of Chart Patterns, recognized as the premier reference on chart pattern analysis, extends its lead with this Second Edition. He even forewarns readers about the methods of his 'perfect' trades that are used in his analysis and that the real world is not perfect, even though there may be some who perform perfect, as defined by Bulkowski, trades. Encyclopedia of Chart Patterns, Second Edition also includes summary tables ranking chart- and event-pattern performance for easy reference; a glossary; a chapter on methodology explaining what each statistical table entry means and how it was calculated; and a visual index to make chart pattern identification a snap.

I've gone ahead and created my own, but standardized, ready reference cheat sheets would be a great additional resource. Bulkowski has taken an intelligent and thoughtful approach to producing a practical guide to understanding and trading chart formations. Chart patterns are the basics behind most trading methods, and this book is a great achievement in a highly useful format. Before earning enough from his investments to retire from his day job at age thirty-six, Bulkowski was a hardware design engineer at Raytheon, a senior software engineer for Tandy Corporation, and a software manager for Tracor-Westronics. In roughly 1000 pages, it contains 53 chart patterns plus 9 more event patterns which will pretty much cover you for any chart you come across….With over 60 charting patterns included in the book, it is always handy to check on a forming pattern and check on the historical data to help predict the chance of an upward or downward breakout. He enjoys writing fiction, chasing cars with his bicycle, watching flowers bloom in his gardens, woodworking, photography, and reading. Though the book uses statistical information, there are various chart patterns which simply do not have the proper sample size to use the stats for calculation.

He also lists statistical findings for performance, breakout targets, failure rates, etc, together with sample trades and advice on optimal strategy for each pattern.In fact, I went back and analysed some of my past losing trades after reading this book to discover that I had completely misidentified some patterns. Excellent book, well worth the money and would highly recommend to anyone trading in not only crypto, but any market.

Joining Tour, Identification Guidelines, Focus on Failures, Statistics, Trading Tactics and Sample Trade is Experience. He is not an expert on pattern formation but in software and unfortunately has identified patterns mainly by programme and with poor results. I think this is one of the most comprensive books in chart patterns I ever read, I believe it is important to study this book as it helps me to analyze the chart patterns far better than other book. Before earning enough from his investments to "retire" from his day job at age thirty-six, Bulkowski was a hardware design engineer at Raytheon and a senior software engineer for Tandy Corporation. Being a math and finance major, I will eventually get to it and determine the validity of his findings, but for now, and for all intents and purposes, it provides a VERY detailed analysis coupled with vast experience from the academic mind of an engineer.Pattern recognition is crucial, and knowing which patterns work best, and under what conditions is essential knowledge. Within the pages of this book, youll learn how to identify chart patterns, supported by easy-to-understand performance statistics describing how well a pattern works, what the failure rate is, and what special quirks suggest better future performance. Really the only gripe that I could even potentially see is that it would be a lot nicer to have the pertinent Size Statistics information like the very important Average Formation Length stats directly out front on the first page with the title of each pattern.

Encyclopedia of Chart Patterns, Third Edition expands upon Bulkowski's immensely popular Second Edition with fully revised and updated material on chart patterns.In this revised and expanded second edition of the bestselling Encyclopedia of Chart Patterns , Thomas Bulkowski updates the classic with new performance statistics for both bull and bear markets and 23 new patterns, including a second section devoted to ten event patterns. I'm interested in anything which helps put probabilities on my side when trading and this is a book which is all about measured results. It would have also been very useful to have patterns grouped according to their formation time periods where they could have added tabs, colours, finger indentations or the like to open the book without be required to look at the visual chart pattern index at the back of the book or the table of contents for page references. I was a bit cynical about the author initially, but when you read his book and his web site you don't meet the "savvy trader" you expect, you meet an altogether much more interesting and amusing character.