I see that from some perspectives that they might come across that way on a first look at the list (which is, after all, simply a list of the 14 books that happened to be most helpful to me in becoming steadily profitable, and probably learning about "bars and patterns" was a significant component in that process), but I think it's actually true of fewer than half of them? I perhaps can (and have read probably too many - sign of a misspent youth?) but I'd be floundering, really, offering an individual further book recommendations without knowing anything about his background, existing skill-set, current experience-level, and so on ... and would probably only end up offering something else equally inappropriate ... but if you want to give some "further and better particulars", I'll be happy to suggest anything I consider good, if I can.
I am just curious why so many people focus shape of the candlesticks. If I just plot the candlestick pattern one tick later, the open and closes would change(lets say I use a 1 minute candle,and start from 1s to 60s, and also plot another which starts from 2s). The candle sticks would look different. But the market is still the same. I am just wondering what is the reason behind so many people using candlestick patterns? If I am reading a book and it talks about candlestick patterns, should I ignore it? Have you traded on candlestick patterns on just chart patterns?
You're completely right about that. I think you've chosen a "tricky example" to illystrate your thinking (though I understand and to a large extent agree with your thinking), so I'm going to use a slightly different one. Let's assume you're looking at a 5-minute chart, and there are therefore five different ways you could assemble the chart (without breaking down minutes into seconds): starting on the hour (in the normal way), one minute past the hour, two minutes past, three minutes past and so on. (Please note: in one of the books I recommended, Joe Ross discusses in detail exactly the point you were making, above - and its significance.) As you rightly say, you'll get five significantly different patterns of opens and closes, but the overall appearance of the highs and lows, and swings-high/low, won't actually be significantly different. That's good news (from my perspective) because highs and lows and swings-high/low signify local support and resistance, and that's important to me. (That's also why I use bars and not candles, as I mentioned above, because I like to have the visual accent on what's important to me, but this point's "academic" by comparison). It's also true, however (and I think this is a partial answer to your question) that each of the five charts will be an approximation to what the market's telling you, and not without value. A huge mixture of reasons, in my opinion. Some because they can do it profitably; some because they've never really thought about it much but just accept "norms"; some because they don't want to be doing something different from the crowd; some just because they were taught that way; some because they were influenced at an early stage of their education by the dreadfully misleading books of Steve Nison and others; and a few other reasons, too. My main point is: don't let your totally valid and correct observation above lead you to conclude that candle/bar-patterns have no value. Your point is valid, but they still have some. Especially if you look at the highs and lows rather than at the opens and closes. Please also excuse my mentioning that if you read and studied carefully some of the books on my list (linked to above), rather than rejecting them as being "too bar-pattern-based", you'd understand the answers to the (very good and insightful) questions you're asking here. I wouldn't ignore it just for that reason, myself (though it's also true that there are some really crap trading books about, too, and I might ignore some for other reasons.) The only individual bars/candles I've ever traded on, myself, are "pin-bars on the line", and even that I wouldn't do in isolation, without an overall bias and so on. You'll perhaps note that a "perfectly-formed pin-bar" looks exactly the same whether it's technically a bar or a candle. ("The line", needless to say, represents a significant area of recent/multiple S/R.) I don't know if I've actually helped you at all. I'd like to, because I like the way you're looking at this subject, but to be honest I think you're also making a big mistake, probably based on some mistaken assumptions, about the books I suggested, and with apologies that obviously makes it harder for me.
Want to mention the most important difference between forex market and stock market and that is forex market is a decentralized, over the counter market that has no fixed regulatory authority and central fixed place to trade like any organized exchanges like stock market. Stock market is an organized exchange as you are saying in the post. And forex market is a highly competitive market and it requires regulated trading brokers in order to ensure safe and regulated trade executions.
I guess I shoudnt have rejected the books without reading them, and I guess I will take a look again. Is there any specific book out of the ones you mentioned that I could use to get started? If there were a few that I should read, could you please tell me what those would be?