THE JOY OF CANDLESTICK TRADING - a Learning Experience

Beginner Questions
22

Hi Tymen

Yes, this “How to post a fullsized chart” thing would be nice.

Summerpip

23

Very well then, I shall explain how to do charts and thumbnails. This, however, will be on a separate thread which you will see when you browse to the forum.

24

So you want to trade indicators eh ?

What about the time honoured MACD ?

Well, then, have a look at this :stuck_out_tongue:


By tymen1 at 2008-02-26

[B]Comments welcome. Then wait for the next chart[/B]. :smiley: :smiley:

25

Can you suggest some websites, pdf files to download with detialed information. I definitely want to learn more here, as I do not master the candles yet. The flame still goes out in the wind. Not strong enough… :slight_smile:
Thanks, tymen1 for your precious contribution.
Bern

26

Just a guess… you will teach us that indicators have a time lag and trading this entry with the macd means to get caught in a trap?
Eagerly awaiting your next posts.:rolleyes:

27

To bernbeach :

Have a detailed study of the following hyperlink :

Japanese Candlestick Charting Explained

To Summerpip :

Yep - time delay is correct. Plus the indicator is not continuous ie you get a signal only on the time frame (eg 1 signal every 15mins on a 15min time frame)

28

[B]And now the result of the chart![/B] :stuck_out_tongue: :stuck_out_tongue: :stuck_out_tongue:


By tymen1 at 2008-02-26

[B]Comments invited[/B].[B]Wait for the next post.[/B]

29

So when are we actually going to start the candlestick part of this learning experience? :wink: For some reason I thought it might be about patterns…not about the MACD, BBands, time lags, posting thumbnails and whatever else blows in the wind…oh & for the thousandth time… thanks! :rolleyes:

No seriously, hope you don’t find me out of line with my comment, but I am quite interested in what you have to offer in this area, just lets get on with it already!! :smiley:

31

[QUOTE=tymen1;40361][B]And now the result of the chart![/B] :stuck_out_tongue: :stuck_out_tongue: :stuck_out_tongue:


By tymen1 at 2008-02-26

  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?
    Bern
32

To Sweet Pip :

Your comment is fine.

But I am a retired school teacher and I like to do things thoroughly. This takes time.
Also, I have been on this forum for a while now, and I post at lesure.

Don’t dispair - I am definitely getting there.

33

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.

34

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


By tymen1 at 2008-02-26

[B]Comments ? Wait for next post.[/B]

35
  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
36

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

37

To bernbeach :

Answer to your question will come as we progress.

To Kelvin :

Excellent comment - watch the next few posts.

38

[B]So lets look at the result of our better MACD entry![/B]


By tymen1 at 2008-02-26

[B]The next post will show the clear solution to this problem.[/B]

39

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:)

40

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.

41

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? :smiley: :smiley: :smiley:


By tymen1 at 2008-03-04

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

42

yes for learning how to post