I happened upon a one of the many YouTube clips this week about the psychology of trading. During which the narrator suggested how the colour of a bar can induce fear, when it indicates your trade is not going in your favour. One tip voiced was to change all candles to the same colour, so you were more concentrated on price action and the viability of your trade, rather than how much profit or loss you might have open.
I played with this, but it felt awkward and wrong.
So I started trying out Heiken Ashi candles, which tend to give fewer changes in colour during a trend. I am exploring using changes in colour as possible signals to enter or get out of trades, when other factors align. I am interested to see if using a mix of regular and Heiken Ashi bars might offer more accurate entry and exit points.
Does anybody find HA bars useful or otherwise?
Would greatly appreciate hearing your thoughts.
Thanks.
Hi @blokeofkent
I’ll be the cynic here and say that I reckon it’s probably a gimick. In a competetive business environment like owning trading sites on Youtube, the guys there are trying to find any new edge that will interest people and get views/subscribers.
I reckon building a successful trading site on Youtube is a whole different world to real-life trading.
Thanks for replying @Blue2
I think you’re probably right about any YouTube strategy. Gimmick to get numbers.
But I’m intrigued as to whether Heiken Ashi has a place in anyone’s trading strategy.
I am far from finalising any trading plan, I am trying to assess the merits in everything at the same time it seems, probably a mistake.
Started looking at Heiken Ashi this week and it’s caught my attention.
Any experience with it shared would be valuable 
Cheers.
I use HA candles all the time.
Interesting, but I have no problem with the common color setup! Besides, my chart background is black!
I’ve been looking back on charts, using HA to identify entry and exit signals. It does seem to filter out noise which can help identify trend and get you an entry. You can also use it to pinpoint timely exit points, when the bars switch.
Would love to hear contrary views on this.
The red color indicates a loss, which makes us upset, and the green color brightens our faces when we make a profit while trading.so yes color does affect our psychology while trading.
You can change the colour of the candles to whatever you like on most trading platforms so if you find yourself impacted by the colour it’s easy to fix. I wouldn’t personally move away from Japanese candles though as they give me the information I need.
yes same condition i have also. mostly use HA candles.
I’ve always been intrigued by HA candles .
I’m not sure if they lend themselves to Supply and Demand trading but I’d love to know
This is really interesting to me. I’ve been working on t shirt designs for a business I’m starting, so I got drawn towards reading about color theory lately. I don’t think people realize just how much it affects our brains. I think most of us know that advertisers use certain colors to make us hungry in commercials, or that blue is calm/sad, etc. but it goes so much deeper than that. Never thought about it with trading, but I can see how the two connect.
Do you think you’ll ever try trading without the usual candlestick colors? 