Steve Nison - the legendary trader who changed the stock market
The everyday things that we see and use in the trading process do not seem surprising at the moment. Charts in the form of candles, lines, bars, as well as all the technical indicators down to the trading platform you work through were simply fantastic literally 20-30 years ago.
Just imagine, traders used a simple set of prices in the form of a tape, and the entire construction was reduced to a line chart. Naturally, in such a situation, any know-how in the direction of increasing information content made the trader an impeccable leader in the market.
Steve Nison is the most famous trader, thanks to whom the stock exchange world, and to be more precise, graphical analysis, moved forward.
Steve Nison is the founder of candlestick analysis, and it was thanks to him that it was born.
Yes, every trader can thank Nison for the appearance of a candlestick chart in your trading terminal. However, it was not the charting method itself that made him famous, it was those candlestick patterns and more detailed guides on how to analyze a candlestick chart that brought him such fame.
The transformation of an unknown analyst into a global figure
Speaking of Steve Nison's autobiography, it's safe to say this trader was quite the spy. Just think, the man who made such a huge contribution to chart analysis and introduced all stock traders to the world of Japanese candlesticks barely mentions his autobiography anywhere.
Before achieving worldwide fame, Steve Nison worked as a mediocre analyst at Merrill Lynch. His responsibilities included analyzing futures market quotes. Having worked in this field, Nison understood the importance of visual chart analysis, but in his era, Western market charts were, to put it mildly, uninformative. Many traders of the time attempted to construct various chart patterns, but their ideas were not well received by the public.
Steve Nison, like many innovators of the time, also pondered this question. While studying the stock market activity of Asian countries, he came across a simple booklet published by an unknown person in Tokyo. It contained the first information about Japanese candlesticks. The most interesting thing is that in Japan itself, this information was considered nonsense, so there was simply no one who could explain the essence of this approach in any meaningful way.
However, Nison was captivated by the very idea of visualizing such a chart and interpreting it. Having delved deeper into the study of Japanese candlesticks, Nison published the first booklet on the topic for employees of the company where he worked. Incidentally, this manual, which consisted of just a few pages, was published at the company's expense. The booklet generated such a huge stir and positive response that Nison himself wanted to delve deeper into this type of analysis.
Creating books about trading.
Moving away from theory and closer to the practical application of candlestick analysis, he published the highly acclaimed book "Japanese Candlesticks: Graphical Analysis of Financial Markets." The publication of this manual brought enormous fame to its author, leading Steve to become a regular fixture at the largest brokerage firms and banks as a trainer and consultant. His book was replete with practical examples that clearly demonstrated the effectiveness of candlestick analysis.
In 1990, Steve Nison published his second book, Beyond Candlesticks. This book skillfully blends the practical aspects of classical Eastern analysis with European approaches, opening up new possibilities for realizing the fantasies of millions of traders.
Having gained immense fame, Steve Nison began actively teaching Japanese candlestick analysis around the world.
His seminars filled huge halls, and the cost of admission was exorbitant. Steve Nison is a consultant to Morgan Stanley Dean Witter and even The Bank of New York. He also founded his own firm and two websites that provide training and analysis to this day.
