THE JOY OF CANDLESTICK TRADING - a Learning Experience

[tymen1]

To Bernbeach :

1) what's the problem when you are S@???
2) I like this candlestick presentation. I work with Netdania. Do you have a "better" charting site?

In trying to answer your questions.............

1) What does S@ mean?

2) Good for you. I use the GFT charting program - I believe it is the best there is.

[tymen1]

OK lets try again with an indicator to see if they are any good. MACD - going long




By tymen1 at 2008-02-26



Comments ? Wait for next post.

[bernbeach]

Originally Posted by tymen1

To Bernbeach :



In trying to answer your questions.............

1) What does S@ mean?

2) Good for you. I use the GFT charting program - I believe it is the best there is.

1) I downloaded the GFT platform. Problem is I need to open a demo account... not so much my thing, as I am already with FXCM I look for a better info free platform as Netdania
2) S@ means: short at, so down wards...but, you were in a long position, I saw later on the chart. Sorry
3) With your candlestick knowledge & expertise what is your pt/loss proportion on 100 trades: ex. 60/40 or even better ?
Have a good WE
Best
Bern

[kelvin]

Perhaps more indicators should be used before making an entry into that position? I don't think the MACD should be relied on solely.

[tymen1]

To bernbeach :

Answer to your question will come as we progress.

To Kelvin :

Excellent comment - watch the next few posts.

[tymen1]

So lets look at the result of our better MACD entry!



By tymen1 at 2008-02-26



The next post will show the clear solution to this problem.

[moneda]

Tymen,

I appreciate your unconditional effort to help us understand the candlestick approach...I have a couple of questions... If one wanted to start with one or two basic patterns as a foundation to build on, which ones would you recommend? Also, the BB bands....what is your Shift ___ , Period_____, Apply to ____ parameters? I am assuming that your platform uses the same ones as MT4.


Thanks and keep on teaching

[tymen1]

To Moneda :

The starting pattern I would recommend is the evening star pattern. It is easily seen and brings about a big change on the BB. It will be the one which I use to do most of my current presentations.

The BB settings - all standard.

[tymen1]

Ok people, here is THE answer :

Now you will know for SURE which way to trade and where to set your stops!

don't you just love the simplicity?




By tymen1 at 2008-03-04





My next post will show in a dramatic way how candles can be indeed superior to indicators.

[dwhite13]

yes for learning how to post