I am just curious about this, as it has been mentioned that you don't, {image}
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You don't need bars or candles to execute trades. You just need the bid ask quote.
However, you need price history that serves as big data input for your math models that you created to objectively measure and quantify to represent the state of the current market that helps you make trading decisions now that keep your trades in line and consistent with the projected future market.
Personally, I do need candles to trade, I largely use candlestick analysis.
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Before the Japanese invented the candlestick traders trade from the quotes. Candlestick is an unnecessary addiction that led to candlestick patterns and price action nonsense. End up traders today stare at their computer screens looking for nonsense "patterns" that market makers paint on our chart manipulating traders psychology 24/7. Think for one moment, who else if not the market maker paint the "patterns"?
I am just curious about this, as it has been mentioned that you don't, {image}
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Good question! You exactly got to the heart of the matter.
If you don't understand what the past means to the trade you're about to take, or if you don't know how to analyze the information from the past, then no, you really don't need it (you waste time looking at something you don't or can't possibly understand, and that simply delays your losses, and your eventual exit from the market and into a full time FF complainer). This is why most people who try to trade the forex lose money. If you want to make money in forex trading, then the answer is yes. Data from the past helps you understand how the market got to the position it's in before you trade, or understand what the tier 1 banks are likely trying to do, and is the essence of market narrative. If those things are important to you (big hint: they are) then data from the past is essential.
Traders see the past and most still fail to trade profitably. Unless you had access to the order books, or had "inside" information...don't think so.
My view of the market is that price action constantly repeats itself, repetitive patterns within patterns within patterns. Josh
{quote} Good question! You exactly got to the heart of the matter. If you don't understand what the past means to the trade you're about to take, or if you don't know how to analyze the information from the past, then no, you really don't need it (you waste time looking at something you don't or can't possibly understand, and that simply delays your losses, and your eventual exit from the market and into a full time FF complainer). This is why most people who try to trade the forex lose money. If you want to make money in forex trading, then the...
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Good answer, you have written so many times yet newbies fail to pick up your gold nugget to improve their trading.
