Munehisa Homma (1724-1803) born in Sakata, Japan is the father of the Japanese Candlesticks. He was a successful rice trader at the Osaka Rice Exchange in Japan. Rice was at the base of Japan's economy during that period.
Homma was reported to have 100 consecutive winning trades and was considered the God of markets. He was raised to the rank of Samurai and became a financial advisor for the government.
Sakata's Method refers to the 160 rules Homma wrote. These rules form the base of Japanese candlestick patterns we know today . He created the candlestick patterns taking into account the open, high, low and close of the price. The candlestick's names often refer to the war which was a reality of that time, for example : Rest after Battle, Three White Soldiers, Gravestone Doji etc.
More recently, Steve Nison was the first to introduce the ancient art of Japanese candlesticks to the western world where it was still unknown by most traders.
It was back in 1987 when he first noticed Japanese candlesticks on the charts of a Japanese broker who worked at Shearson Lehman Hutton in New York, where he worked in an office down the hall. He became immediately fascinated by them and started the research work which lasted for 3 years before he published his first book on the subject.
The very first article to be written on Japanese candlestick analysis in the U.S. was published in Futures Magazine (December 1989) "Learning Japanese-Style Candlestick Charting" by Steve Nison.
Steve Nison is a CMT (chartered market technician), holds a MBA in Finance and Investments. He also worked as a senior analyst at Merryl Lynch. He is president of Candlecharts.com which offers seminars, educational products and advisory services.
Books by Steve Nison
It was back in 1987 when he first noticed Japanese candlesticks on the charts of a Japanese broker who worked at Shearson Lehman Hutton in New York, where he worked in an office down the hall. He became immediately fascinated by them and started the research work which lasted for 3 years before he published his first book on the subject.
The very first article to be written on Japanese candlestick analysis in the U.S. was published in Futures Magazine (December 1989) "Learning Japanese-Style Candlestick Charting" by Steve Nison.
Steve Nison is a CMT (chartered market technician), holds a MBA in Finance and Investments. He also worked as a senior analyst at Merryl Lynch. He is president of Candlecharts.com which offers seminars, educational products and advisory services.
Books by Steve Nison
- Japanese Candlestick Charting Techniques (1991)
- Beyond Candlesticks (1994)
- Japanese Candlestick Charting Techniques, Second Edition (2001)
- The Candlestick Course (2003)
- Strategies for Profiting with Japanese Candlestick Charts (2011)
