Candles or Bars | Forex Factory

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Candles or Bars

  • Poll

  • For forex trading, I almost always prefer:
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  • #1
  • First Post: May 26, 2008 2:28am May 26, 2008 2:28am
When I first learned TA it seemed candlesticks was the way to go, hands down. As I've narrowed my focus to forex, however, especially here at FF, I've been surprised at how many bars I see. I think it would be really interesting to read why certain FX traders prefer one over the other, and accordingly, why there seems to be no consensus.
  • #2
  • May 26, 2008 3:24am May 26, 2008 3:24am
I love bars, cuz I began with them and most good books usually talk about them, also they don't have edges and don't melt on the screen and don't have two different colors so I can color my MAs and the background easily


so I voted for Bars
  • #3
  • May 26, 2008 11:35am May 26, 2008 11:35am
just candles
  • #4
  • Jun 1, 2008 2:16am Jun 1, 2008 2:16am
Anyone else care to chime in? Why do you use one over the other? I'm still new, so I can be 'taught new tricks,' but It's hard for me to envision a good enough reason to leave candles...
  • #5
  • Jun 1, 2008 7:31am Jun 1, 2008 7:31am
Somehow I find Bars easier to use for Intrabar Breakout Stuff.
When using candles you are most of the time just looking at the body.
  • #6
  • Jun 1, 2008 7:59am Jun 1, 2008 7:59am
I use candles as it is quick and easy for me to see the story the market is telling me, bars just look like chicken scratches to me, but if it works for you use what works.

cheers
Go Getter When Trading Its All About "WHO YOU ARE BEING"
  • #7
  • Jun 1, 2008 8:31am Jun 1, 2008 8:31am
Depends on your trading style, a lot of people rely on candles for different formations to tell them what is going on and a lot of people rely on reading bars PA and things like that. It really just depends on you, your trading style and which you prefer.
  • #8
  • Jun 10, 2008 1:00am Jun 10, 2008 1:00am
Quoting Go Getter
I use candles as it is quick and easy for me to see the story the market is telling me, bars just look like chicken scratches to me, but if it works for you use what works.
However, owing to the 24/5, global, three-major-time-zone nature of this market; the only homogeneous TFs are the hour, week and month. Thus candles (and to a less extent bars) on any other TF (e.g. the daily) would lack much of the psychologically significant 'stories' that candles can tell in other markets, such as equities.

Even if the whole world agreed that their daily charts should begin at midnight GMT, the JPY, AUD and NZD business days would encompass two candles...

Comments?...

Rebutals?...
  • #9
  • Jun 10, 2008 1:46am Jun 10, 2008 1:46am
I am a candle junky - always was - but I use and like the simplicity (visually) of bars. They both convey the same story, OHLC.

Quoting BDVtrader
However, owing to the 24/5, global, three-major-time-zone nature of this market; the only homogeneous TFs are the hour, week and month. Thus candles (and to a less extent bars) on any other TF (e.g. the daily) would lack much of the psychologically significant 'stories' that candles can tell in other markets, such as equities.

Even if the whole world agreed that their daily charts should begin at midnight GMT, the JPY, AUD and NZD business days would encompass two candles...

Comments?...

Rebutals?...
In trading, there is no bullshit. You either make money or you don't.
  • #10
  • Last Post: Jun 10, 2008 2:37am Jun 10, 2008 2:37am
none...

okey2...DOM
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