THE JOY OF CANDLESTICK TRADING - Part 2

Unfortunately, this was not a good pattern :frowning:

Dude what OS you use? I thought it was Tiger but taking a close look at it I donā€™t recognise it.

Ubuntu. I like using Linux to trade because of the window management and graphical effects.

For example, I have 4 desktops to organize my windows (OSx has this too, but every plugin Iā€™ve tried to get this on Windows has made my machine unstable). Iā€™ve tried with more, but 4 is a good fit.

The first workspace is my Firefox/Casual use window.

The second workspace is my MT4 chart analysis workspace.

The third workspace is my trading workspace, since I donā€™t use MT4 for trading. I usually have a second Firefox window open here for my Forex Calendar and other Forex analysis.

The fourth workspace I virtualize Windows 7 incase I need to run any proprietary Windows software. I donā€™t use this one much.

I use a graphical effect to minimize all 48 charts so I may view them all at once

All of my Forex trading is now done in Ubuntu. After getting used to this setup, I find it extremely difficult moving back to Windows. OSX does offer some of these capabilities, but Ubuntu puts it all together in a nice package that I donā€™t think OSX can match. Itā€™s pretty much impossible to get a virus or malware, so I donā€™t have to worry about getting hacked, putting my Forex money at risk. Oh, and itā€™s free :slight_smile:

Nice! Never heard about that OS. Because of my former job I use mac and didnā€™t think there was something superior to that.

Cheers :slight_smile:

Be careful what you say, donā€™t want to turn this into an OS thread :wink:

Ubuntu works especially well for me, since Tymen1ā€™s strategy is greatly enhanced with the ability to quickly scan a large number of charts simultaneously, I feel this conversation is not out of place.

Iā€™ll just leave it at that :stuck_out_tongue:

Dodge:

I am trying to understand what you meant here. If the middle candle is red what made you not take the trade ? I thought a middle candle with a red body and long upper wick is a much stronger signal than a green candle. Pls enlighten me.

Regards,
Muthu.
Chennai,
India.

Judging by the Forex Candlestick links Tymen1 provided

and the 3 shorting candlestick patterns he posted

Nowhere will you see a shorting pattern with the middle candle red.

Source: Investopedia dot com ā€”Search for ā€œcandle stick or evening starā€

Looking at the fxwords.com link that you posted, this is what it says in the Second paragraph.

Although the example above is a blue shooting star, the shooting star can really be any color.

Regards,
Muthu,
Chennai
India.

Ubuntu is one of the biggest Linux OSs.

A while back I had a complete Bill Gates related mental episode when my brand new computer committed suicide while trying to install Vista SP2, so after that Iā€™m a happy Ubuntu user too.

Iā€™m in detox now after 15+ windows years :smiley:

Enough about off this topic though!

Hey, Iā€™m not saying youā€™re wrong, nor am I claiming this pattern can not be recognized as a valid Evening Star. Iā€™m simply stating that Tymen1 did not list it, nor did he make any reference to it.

Therefore, I wonā€™t trade it.

Dodge:
I didnt mean to argue or make a point. I am just trying to set something clear. Cool ā€¦Coolā€¦

Muthu.

You never now where you can find the information you need.
And with Tymenā€™s permission, and my last post about this, I just want to say that I run windows on my mac with parallels, and it behaves like a mac itself, itā€™s just awesome.

Dealbook is the only application that I run with windows, for all other matters thereā€™s my mac os. Never will go back to a PC.

Topic closed :slight_smile:

Car manufacturer claim there car is running like a toyota.
Wh not buy a toyota in the first place?:slight_smile:
Same with Mac And [B]Toss[/B] and Window. :smiley:

hahahaha. To funny

Hello,
This the new trade that i took few minutes ago. A pattern was forming both on 40m and 30m. 30m looked to me like the classic Evening star while 40m like a dark cloud cover. I am attaching both charts for your consideration.

Iā€™ve been tracking that pair for the last few hours, waiting for a good entry point. My caution made me miss the 50 pip drop that just happened :frowning:

Hope you got some of it!

Ok, lets look at the entry point on the 5m chart. Here we goā€¦the dotted line on the chart shows where i entered.

Dodge:

My Friend, I too missed the big move :frowning: But i grabbed few pips. I think i must let the trade run when i see starcs and bbs bending down. Anyways lets have a look at the exits here. The move was too fast i could not point to the correct exit point. The E marks the exit area though.

Ubuntu eh!!? :confused: (Probably an African tribe!!)

I did a Bachelor of Ignoramus degree at Mickey Mouse University so I understand perfectly what you are saying!! :smiley: :smiley:

I have even immunized my computer with an antivirus!!
I do not want it to catch swine flu, you see!!

My brother runs McIntosh and he is always rubbishing Windows.

Until I do my Doctorate, I will stick with Windows for the time being. :smiley:

By the way, when I do that PDF and click ā€œconvertā€, can I go back and edit the original??

Ohhh Man what a trade it turned out to be. I only wished i stayed on to take the ride. UJ just tumbled deeeeep down and it only shows that we need to be patient to grab a major chunk. Lessons Learnt. Lets look at the main chart after exit. The trade went about 60 pips down. However, I exited earlier. You can have a look at the charts real time to find out how the play went.

Comments / Suggestions / Criticisms Please

Regards,
Muthu
Chennai, India.