At this point I will take a break and celebrate once again the sheer power of candlestick trading.
I would like to encourage all readers to remember that their choice of candlestick trading as a strategy is the best there is.
For those who are experiencing losses, for newbies searching for a strategy, and just for everyone else as well, I would like to warm your hearts by again stating the great advantages of candlestick trading :
1) It is the
simplest system to learn. Know the important patterns and have an eye for spotting them and your done! No other system is this simple.
2) The candle pattern tells you
which way to trade. No complex figuring out whether to go long or short. The pattern tells you this.
3) No need to figure out
trends - just trade the pattern for profit to come.
4) No need for
extra time frames (you do not need to use my special 5 min entry method if you do not want to) to determine trend direction.
The candle pattern is
standalone in its time frame and that is exactly what you trade.
5) No time lag - all indicators suffer from lag.The candle pattern is
immediate.
6) Because of (5) above, a trader's
confidence is vastly improved with an immediate
improvement in trading performance leading to more frequent profits and less losses.
7) Candlestick patterns, by their very shape, show the
psychology of trading as well as the price action. Indicators are mathematical displays derived from the price data, and are, therefore, emotionless. Indicators show nothing of the psychology and emotions of trading.
8) Over a long period of time, the character of trading changes. That is why no system will always work. Eventually they all fail. But candlestick patterns are not a system and their shape and occurence always keeps in step with trading character - because they are actually part of the character. Candlestick patterns
always work.
9) Candlesticks work under all conditions, whether
trending or
ranging (consolidation). An indicator strategy requires that you first discern whether you are trending or ranging. Different indicators are needed for each approach.
So with indicators you have twice the work to do. First you must discern the price action and only after that can you start trading.
10) Candlesticks get you into price action
long before indicators - in many cases, so much so that you are closing your trade by the time the indicator trader is just opening his.
Candlesticks are the fastest form of price prediction there is. The next fastest is the ergodic candlestick oscillator which in turn is much faster than any other indicator.
11) Candlestick trading is very reliable. Providing that the patterns are properly picked, and the poor ones weeded out, the probability of success is extremely high.
Only fundamental analysis could do better.
12) Providing you have enough charts, candlestick patterns are very frequent and give the trader lots of opportunities to trade. This gives the candlestick trader the choice of rejecting a trade whereas the indicator trader has to wait until his indicators line up to conform to his strategy.
Candlesticks - Behold the Rolls Royce of Trading. 
You will see many systems being advertized on this forum. Just lately, there is a whole plethora of them.
But they are all indicator systems, with no great difference in any of their operations. Only the names are changed in an attempt to attract new devotees.
They will all suffer the same fate - eventual failure because the character of price action changes and the system cannot adapt to meet the change.
So I am not interested in any of them.
I have found what I believe is the best of all strategies - Candlesticks.
To finish with, warm your heart by reading again the following hyperlink. It will probably have much more meaning for you now.
The Trading Game
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