Price Action, Candlesticks, and the Story They Tell

No, it didn’t actually. That isn’t the picture, I was talking about. Okey i got 5 posts now, so… there it goes.

P.S. Thanks for your effort toyogo00. :slight_smile:

Btw sry guys i didn’t say hello to you all and didn’t introduce myself, so [B]HELLO[/B] everyone! I’m reading this forum for some time now, just haven’t posted much as you noticed. :slight_smile:

This thread got my attention, because i have read and read, and read about candlesticks, candlestick patterns, I always knew that this (+resistances/supports, moving averages) is the best way to tell the PA. And the best thing, that i read here and on your site, is that u really don’t need any indicators - I [B]FINALLY[/B] (accidently) found someone who confirmed me, because during the 2nd year of my traiding i realized that indicators are very inaccurate (and actually useless) and mess up all my chart view! Awesome thread DnB! :wink:

This is the picture i was talking about (the one from left):

Why are u showing the red line (entry) only after the second rejection candle, are u waiting more confirmation? There was one before that almost touched the resistance, so wasn’t that already a valid signal to enter after the price moves below the low of the first rejection candle?

Hi FaRS,

I guess DnB missed the first pin bar! LOL

Regards,
Toyogo

FaRs welcome to the thread,

first indicators are useless lol. I don’t know anyone who does well with stochasic crosses while the rsi is above 50 sort of methodology :stuck_out_tongue:

Second, I didn’t take the first trade because I was already in a trade at the time, I only usually have 1 trade open at a time and don’t open more until all current trades are break even. The first candle was valid though!

Hei!

About the entries and s/l’s. Are they usually placed 1 pip +spread above/below the high/low of the rejection, inside or indecision candles? Or do u make larger gap DnB?

Usually a few pips + spread added to stops on short trades.

The benefits of PA! :smiley:


18% for the month, what a BO$$

Well done!

well done, Evermore! lol.

toyogo

I guess I’ll be a zillionaire in 3 years or some lol!

Congrats Evermore. PA is the way to riches i say.:stuck_out_tongue:
Im up by 16% this month.

Don’t forget to post the pics of ur Ferrari Spider…:32:

BTW Don’t know if this is just me but this Indicator (In/Out Indicator)isn’t functioning properly for me. Tried it on my FXPro Demo and its ok when l attach it to a chart but disappears completely after l change timeframes - strange.

But many thanks anyway DnB!

that’s strange, I’ve never come across that problem before, sometimes it doesn’t draw properly and you just have to change time frames and it fixes it.

Well, here is the not so funny part about my perfomance this month.

This month I executed 16 trades. I guess that for this type of trading this number is A LOT!!! So, I’ll be looking forward next month to reduce the number of trades.

Of this 16 only 5 were executed according to planned, while the other 11 were executed without following the plan. Note: when I say “not according to plan” it doesn’t not mean the trade resulted in a loss, it only means I didn’t trade with what I had originally planned (e. g. getting out early for whatever reason thus not allowing the trade to hit its profit target or entering a trade without having a clear signal).

Now I see my main problem is emotional trading. My analysis is good enough to make a good profit, but when my emotions get in the way it’s a mess, so I’ll need to monitor myself emotionally. I fear missing out a trade, I fear a loss, I fear having a winning position turned into a loser and so on.

The worst part of all is that if I had executed my trades according to plan, I would end the month with a 110% return!!! :frowning: Too bad.

Lesson there for us all!!!

But well done…any profit in this choppy environment is good!

Cheers,
Michael.

Thanks…at least l know its my platform and not the indicator now.

m.

Are we using indicators now? Did I miss something!?

It’s not just u. When i attached in&out on a chart (im using H4 and DAILY), it didn’t work properly, it didn’t show every inside candle etc. Why so? Or i have done something wrong?

I checked the chart after i attached in&out indicator and i noticed that it doesn’t mark inside candles that got same low/high as previous candle, is that right, can u confirm that DnB? Or else my platform is in a mess.

Im am up with 35% this week!

The worst trade was the GBPAUD because my SL was hit by 1 PIP about it and then went in right direction with a f***ing good R:R :S

I had 5 Trades this week :confused: I should look for less trades, meaning a maximum of 3 - 4 trades a week.