Candlestick Analysis For Professional Traders
4.5 (122 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
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Candlestick Analysis For Professional Traders

Japanese candlestick trading and historical analysis for stocks, futures and forex markets. How profitable is it really?
4.5 (122 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
926 students enrolled
Created by Joe Marwood
Last updated 6/2017
English
Current price: $23 Original price: $95 Discount: 75% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 2 hours on-demand video
  • 8 Articles
  • 5 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand how to use Japanese candlestick charts to inform and improve investing and trading decisions.
  • Understand the profitability of individual candlestick patterns. Which candlestick patterns work and which candlestick patterns fail.
  • Know the profit potential and opportunities that exist from combining candlestick price patterns with other indicators.
  • Understand some principles about back-testing and designing a price action, chart based trading strategy
  • Understand a complete trading strategy based solely on Japanese candlestick patterns.
  • Scan for individual candlestick patterns using the Amibroker analysis program.
View Curriculum
Requirements
  • An understanding of financial terms such as long/short, stock, future is beneficial.
  • Trading experience is beneficial
Description

For the first time, a course that reveals the historical performance of all the classic Japanese candlestick patterns.

Candlestick charts are the number one way to present financial price data. I love them because they allow me to quickly and easily visualise the market and analyse recent price action before placing a trade.

Whether it’s in a particular stock, a currency pair, or a commodity, once you know how to read candlestick charts you can very quickly gauge strength or weakness in the market of your choice.

Now, candlestick charts have been around for centuries and there are numerous books and courses that detail specific candlestick patterns. Patterns such as the shooting star, the Doji and the Hammer. 

However, most of these books and courses fail to address just how good these patterns really are.

On this course, not only will I teach you all about Japanese candlestick charts and how to find the most popular candlestick patterns, but I will show you the historical performance of 25 of the best patterns.

In other words, I’m going to show you which candlestick patterns are the best and which ones you should pay attention to in your trading. And I'm going to show you which ones you should simply ignore.

I’ve analysed 21 different futures and forex markets, over 100 stocks and I’ve made thousands of historical trades to see which patterns produce the most profitable results. And the results are indeed surprising.

In fact, the results suggest that some patterns are not profitable at all and I present the results clearly for you to see.

However, the results also reveal that one specific candlestick pattern is better than every other candlestick pattern that I tested.

On this course, you’ll learn precisely which candlestick pattern that is.  

You’re also going to learn how to spot the candlestick patterns and how to incorporate them into your own trading and investing. Then, I put what we’ve learnt into action when I build a fully fledged trading system based on the best patterns found.

But that’s not all you're going to get.

Because, when you take the course today, you’ll also receive a number of bonuses. 

Bonus 1: you'll get the A3 candlestick cheat sheet so you can quickly locate candlestick patterns by eye. You can even print this out and stick in on the wall if you want to.

Bonus 2: you’re going to get access to the accompanying eBook and all the tables of results.

Bonus 3: you’re going to receive the formulas that I used to code up each candlestick pattern. If you have the back-testing program Amibroker, you’ll be able to use this code to run an exploration and scan for the latest candlestick signals on your own machine.

So, if you want to learn how the professionals use financial charts and you want to take your candlestick trading to another level, just click take this course now and let’s get started learning about Japanese Candlesticks.

All the best of luck with your own trading and learning.

Who is the target audience?
  • Anyone interested in markets, stocks, forex, futures, trading and investing can take this course.
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Curriculum For This Course
48 Lectures
02:12:33
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Start Here
3 Lectures 04:49

My story with Japanese candlestick patterns and an introduction to the course.

Preview 02:40

Just some details on the order of lectures and structure of the course.

Preview 00:33

Legal disclaimer

Preview 01:36
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Candlestick Basics
3 Lectures 12:13

A beginners introduction to Japanese candlestick chart patters. What they are and how they are built.

Preview 04:08

What makes up the Japanese candlestick chart and introduction to the simple candlestick patterns.

Preview 03:40

Some history behind the candlestick. Who was Munehisa Homma?

Preview 04:25
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Test Procedure
2 Lectures 11:31

Information about how we will set up the test environment in order to test the power of the candlestick patterns.

Test Procedure: Setting Up
05:41

We will conduct two different tests and we will present the data in tables so you can see how each candlestick pattern performs on the data.

Test Procedures: Presentation Of Results
05:50
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Testing The Candlesticks
26 Lectures 01:11:49

We introduce the hanging man, how it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Hanging Man
09:08

We introduce the hammer candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Hammer
03:08

We introduce the inverted hammer candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Inverted Hammer
03:57

We introduce the shooting star candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Preview 02:51

We introduce the morning star candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Morning Star
03:14

We introduce the evening star candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Evening Star
03:05

We introduce the gravestone doji pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Gravestone Doji
02:00

We introduce the dragonfly doji candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Dragonfly Doji
02:15

We introduce the bullish kicker candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bullish Kicker
03:15

We introduce the bearish kicker candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bearish Kicker
02:15

We introduce the bullish engulfing candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bullish Engulfing
02:46

We introduce the bearish engulfing candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bearish Engulfing
01:26

We introduce the bullish harami candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bullish Harami
02:17

We introduce the bearish harami candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bearish Harami
01:44

We introduce the bullish spinning top candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bullish Spinning Top
02:48

We introduce the bearish spinning top candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bearish Spinning Top
01:35

We introduce the bullish abandoned baby candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bullish Abandoned Baby
02:47

We introduce the bearish abandoned baby candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Bearish Abandoned Baby
01:48

We introduce the three white soldiers candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Three White Soldiers
03:24

We introduce the three black crows candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Three Black Crows
02:17

We introduce the three line strike candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Three Line Strike
01:50

We introduce the peircing line candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Piercing Line
02:05

We introduce the dark cloud cover candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Dark Cloud Cover
01:24

We introduce the tweezer top candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Tweezer Top
02:00

We introduce the tweezer bottom candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Tweezer Bottom
03:12

We introduce the loose kicker candlestick pattern. How it is used and what it means. Then we test the pattern on historical data – 21 different futures and forex pairs and then 100+ US stocks are analysed to see how powerful this pattern really is.

Loose Kicker
03:18
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Test Your Knowledge
0 Lectures 00:00

Test your knowledge of Japanese candlesticks. Can you identify the right patterns?

Name The Candlestick
20 questions
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Observations
3 Lectures 06:18

Some observations and conclusions. What we have learnt so far.

What Have We Learnt?
05:27

A quick clip showing the best candlestick pattern of them all.

Which Candlestick Pattern Is The Best Of All?
00:49

The big table of results showing average profit or loss for each candlestick pattern. 

Big Table Of Results
00:02
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Confirmations And Combinations
4 Lectures 17:50

Our analysis shows that by incorporating volume into the trading rules it is possible to increase the profit potential of the bullish engulfing pattern and this has implications for other candle patterns too.

Improving Candlesticks With Volume: Test Results
03:08

Our analysis shows that by incorporating RSI into the trading rules it is possible to increase the profit potential of the piercing line pattern and this has implications for other candle patterns too.

Improving Candlesticks With The RSI Indicator: Test Results
02:55

Our analysis shows that by incorporating exponential moving averages into the trading rules it is possible to increase the profit potential of the hammer candlestick pattern and this has implications for other candle patterns too.

Improving Candlesticks With Moving Averages: Test Results
03:54

In this lecture I use the analysis that we have shown so far to come up with a unique and complete trading strategy for stocks. This is simulated using Amibroker and back-test on data between 2000-2015 with profitable results.

A Complete Trading System
07:53
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Where Next?
2 Lectures 04:00

In this article I give a round-up of my top tips for trading candlesticks based on the analysis presented on the course.

My Top 10 Tips For Trading Candlesticks
03:06

Although we are near the finish, this course doesn't end here. I intend to keep researching candlestick patterns and when I find something interesting I will update the course.

Is This The End?
00:54
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Resources
4 Lectures 02:13

This lecture contains the candlestick poster/ cheat sheet to go along with the course.

Bonus 1: Candlestick Cheat Sheet
00:02

This lecture contains the Amibroker exploration code that will allow you to scan your own watchlists for the candlestick patterns as they have been designed for this course.

Bonus 2: Candlestick Exploration Code For Amibroker
01:51

Candlesticks eBook to go along with the course containing the course script and tables of results.

Bonus 3: Trading With Candlesticks Supplementary eBook
00:01

A list of other useful sources of information and books about Japanese candlesticks.

Other Useful Resources
00:18
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Final Bonus Lecture
1 Lecture 00:37
Trading Systems Revealed
00:37
About the Instructor
Joe Marwood
4.4 Average rating
550 Reviews
18,059 Students
7 Courses
Trader & Investor

Joe B Marwood is a trader and investor specialising in financial trading and mechanical trading systems.

He began his career trading stock and bond futures for a prop trading firm in the UK and now works through his own private company.

FAQ

How did you get started?

I started my career as a professional day trader for a UK-based prop firm where my principal products were the FTSE 100 future and German Bund.

Today I trade a portfolio of individual stocks and occasionally futures and I have a passion for building automated trading strategies and systems.

What is your trading style?

I use a mechanical strategy to trade on a largely end of day basis. I look at both fundamental and technical analysis and use strategies that are based on historical simulations. I often combine those strategies with my own experience and discretion to come up with trades that I believe are the most attractive on a risk/reward basis.

Mean reversion or trend following?

I have found that traditional trend following methods do not work as well as they once did. My methods are based on my own observations on the market whether they are based on momentum, trends, mean reversion or anything else.

Who taught you how to trade?

My mentor was a former head of trading at a well known German investment bank. I have also read and studied countless books, journals, and articles, and have spent many hours in the market. You can never stop learning.

Why did you make this course?

To educate others so that they don't make the same mistakes I made. Learning to trade can be a very expensive and drawn out process. As a trader, it is also extremely beneficial to have sources of side income as that takes the pressure off your own trading. Putting what I have learnt into a course also solidifies my own learning.

What are the secrets to successful trading?

First of all, you must have the passion to succeed. If you are in it only for the money you will have a very tough time and will be doomed to failure. You must also be comfortable with risk and be able to separate your emotions from the money.  Having a system with a profitable expectancy is also crucial and for that you will likely need a strong ability with numbers.

Why do most traders fail?

Most traders start off under-capitalised and then chase unrealistic returns which results in them blowing their account after a couple of big losses. Most beginner traders do not realise the realities of trading which is why they have trouble sticking to trading plans and dealing with their emotions. Trading should be treated as a business.

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