- Lots of Info.There was a lot of stuff in this book I didn't need to read, but I suppose it would help out other people. I just got it for the last 5 pages! Take what you need out of it and ignore what you don't. It is a reference book, and it is up to you to decide if you can use it, and how to use it. Personally I prefer Candlesticks, and got a lot more out of the book "Japanese Candlestick Charting Techniques" by Steve Nison, which is not for everyone, but depends on what type of trading you are doing.
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- All his statistics are worthlessYou can't go ahead and analyze chart patterns without first looking at the trend line channel. Violation of these support and resistance are essential to chart analysis. Simply ignored in this book.
Furthermore, although his statistics is not supported by mentioning the name of the program he used. Exhaustive testing have already been done with different results than what appears in his book. For example, his method, buying at the lower right shoulder of head of shoulder formation produced the worst results, much better results where obtained waiting for the break of the neck line and the symetry of the shoulders.
Technically outdated. To say that one web site use artificial intellegence and neural network (over ten years of testing) to evaluate the quality of the trend on a scale of 1 to 6. Similar formation have different quality evaluation. For example, if you test those charts patherns in a rising trends, you will get different quality evaluation results than those in falling trend channel. That is also ignored his book. All his statistics are worthless. He should write the program that is already written on this web site ... and back test it and do neural network analysis before writing and formulating trading techniques
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- Absolutely, positively, essential reading.For years the "experts" have been regurgitating the same old stuff with respect to chart patterns, "This is what a double top looks like; This is what a pennant looks like; yada yada yada." Finally, Bulkowski gives us something we can really use: a book based on actual market testing. Want to know the reliability of the cup-with-handle - look it up! Want to know the likelihood that you will make at least 25% on the breakout of an ascending triangle - look it up! Of course, there are no absolutes in trading, however, this book gives plenty of statistically relevant information that one would be foolish to ignore. I wouldn't think of trading without it.
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- The Bible of Chart PatternsThis is the ultimate book. The chart patterns are very profitable. Use them and make real money!!
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- Not sufficient testing to produce reliable trading methods500 stock charts or 2 years are not sufficient to produce reliable trading rules. Its rather absurd. These charts with Meta Stock (add-on) or Back Track can be used to test most of them over extended priod of time. Or Trade Station if he can write TS Chart patterns program. Then after atleast 10 years of testing, he can write this book.
... Free End of Day.