Do you guys always wait for the confirmation candle to end?

Trading Discussion
1

Hey guys, I have a simple question and why not have your opinions on this?
Do you guys always wait for the confirmation candle to end before going in a trade? Even, if you have more indicators telling you that the price will do exactly what you are predicting (which can fail, of course)?

I know that confirmation candles work exactly to confirm us if we should/shouldn’t go in a trade but sometimes, I feel that I can lose opportunities because of that. For example, a trade goes exactly the way I expected but I was waiting for it to end (confirmation candle) to make sure and then the price is already in a place that doesn’t make sense for me to go in.

Tell me your opinions and tips guys!

2

Hello.
My answer is yes.
It is what “confirmation” mean.

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3

I wish I could say, “Yes, always”, but sometimes I get greedy or impatient. Not good.

2 Likes
4

I never wait for anything, which is probably why my entries are so lousy!

5

Only waiting can save you from losing lots of money.
:grinning: :grinning:

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6

Maybe you should work on that ahah

7

I line up three charts which must be in price action accord like ducks in a row. Daily, 4hr and 15m. I follow the Daily trend, and enter on the 4hr chart. This gives me a positive probability that I’m on the right side of a trade.

8

I could say I’m also guilty of this. :sweat_smile: Sometimes, when I get extra impatient (which is not good!), I just assume where price is headed and that if the candle is in the red now, it will surely close in the red. :sweat_smile:

9

Hahahaha! :stuck_out_tongue: But they seem to have been working for you so far, so I wouldn’t say they’re completely lousy. :sweat_smile:

10

I am also guilty of not waiting and being impatient. It has cost me a lot of money in some trades. LOL.

1 Like
11

I think a lot us need to work on that… ahah