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  • #491,521
  • Jul 17, 2011 12:55pm Jul 17, 2011 12:55pm
Quoting Turveyd
Not trying to sell anything just debunking myth's!!

You might be profitable trading as you are, it's not down to the candle formations though, think how much more profitable you'd be if you stopped reading candle formations.

A group of candles as Gatorina says might be more usefull as atleast you can see, S/R and other things from it, but 1 candle is just Open, High, Low, Close.

ie..

1 candle that spikes down then back up within that time, you'd class a pin bar, O 100, H 100, L 50, C 100, is exactly the same as 2 candles where you've...
Yes -- I absolutely include clustered candles in my readings and they are very relevant as they show me previous imbalances in supply and demand, as well as current levels being cleared. Entries and targets are derived from this information.

Perhaps we are miss communicating here... Your original statement was that of referencing a single candle... and I may not have made it clear that a single candle is important, but it needs to be aligned with what is going on to the left of us as well.
  • #491,522
  • Jul 17, 2011 12:56pm Jul 17, 2011 12:56pm
Quoting Turveyd
No such thing as a leading indicator!!
then? get to know the reason how u trade unless purely coding..mm
  • #491,523
  • Jul 17, 2011 12:56pm Jul 17, 2011 12:56pm
Quoting grashid
i would love to see at least 1.3550-1.34080 this month where EY to atleast 105.80 till Nov where it could be a new low for [email protected] at least

this week could just be a ranging before one more............

i am off and will be back on Tuesday

good luck

g
have a good one
Hero calls followed by margin calls...
  • #491,524
  • Jul 17, 2011 12:57pm Jul 17, 2011 12:57pm
Quoting Turveyd
No such thing as a leading indicator!!
disagree.. pa is.
those who can, do. those who cant, talk about those who can
  • #491,525
  • Jul 17, 2011 1:02pm Jul 17, 2011 1:02pm
Quoting gatorinla
disagree.. pa is.
don't forget to include coin tossing. a great leading indicator, imo.
  • #491,526
  • Jul 17, 2011 1:02pm Jul 17, 2011 1:02pm
Quoting Venice
Yes -- I absolutely include clustered candles in my readings and they are very relevant as they show me previous imbalances in supply and demand, as well as current levels being cleared. Entries and targets are derived from this information.

Perhaps we are miss communicating here... Your original statement was that of referencing a single candle... and I may not have made it clear that a single candle is important, but it needs to be aligned with what is going on to the left of us as well.

Okay, but you where refering to 1 magic candle which foretold the future, if you can't see why I have issues with that.

It might be right 50% of the time, but it needs more than 50% to be useable to me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,527
  • Jul 17, 2011 1:03pm Jul 17, 2011 1:03pm
Quoting pkimnyc
don't forget to include coin tossing. a great leading indicator, imo.
As good as any 'leading' indicator for sure.

A 'leading indicator' with a 50% win rate is well random.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,528
  • Jul 17, 2011 1:04pm Jul 17, 2011 1:04pm
Quoting pkimnyc
don't forget to include coin tossing. a great leading indicator, imo.
the candle rules can be applied to basic formations. with a little math.. this can offer targets.. s/r ect. past moves can be divided by 2.. or multiplied by 2 3 4 5 6 7 8 9 10 infinite. a small pattern can surprisingly show future s.r weeks ahead pretty accurate w/o news interference. .
those who can, do. those who cant, talk about those who can
  • #491,529
  • Jul 17, 2011 1:04pm Jul 17, 2011 1:04pm
Quoting gatorinla
the monthly last November i rode down.. but it bent me over after.
Just from a purely historical view, but it slammed right into that demand zone before chugging upwards again.

Just amazing.
  • #491,530
  • Jul 17, 2011 1:05pm Jul 17, 2011 1:05pm
Quoting grashid
then? get to know the reason how u trade unless purely coding..mm

I wish, I can code the entry system as long as I manually switch on and off the pairs I want it to trade at that time, but there is no way I can make it trade exits, profitably.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,531
  • Jul 17, 2011 1:06pm Jul 17, 2011 1:06pm
Quoting gatorinla
the candle rules can be applied to basic formations. with a little math.. this can offer targets.. s/r ect.

My targets are generally 50% of a demand zone. Always a good decision spot, at least from what I have seen. Sometimes it doesn't quite get there, other times it shoots way past it.

The process is the truly important part, IMO.
  • #491,532
  • Jul 17, 2011 1:08pm Jul 17, 2011 1:08pm
Quoting gatorinla
the candle rules can be applied to basic formations. with a little math.. this can offer targets.. s/r ect.
of course, candle formation is great when it's applied with s/r level with little bit of this and that. majority of my entries depend on this sucker.
  • #491,533
  • Jul 17, 2011 1:09pm Jul 17, 2011 1:09pm
Quoting pkimnyc
of course, candle formation is great when it's applied with s/r level with little bit of this and that. majority of my entries depend on this sucker.
especially Daily chart candles... geez. Those things are pretty much flawless.

My swing trade account loves them to death...
  • #491,534
  • Jul 17, 2011 1:09pm Jul 17, 2011 1:09pm
1.41441 on xe.com
  • #491,535
  • Jul 17, 2011 1:11pm Jul 17, 2011 1:11pm
Quoting Venice
especially Daily chart candles... geez. Those things are pretty much flawless.

My swing trade account loves them to death...
as long as people understand how and when to apply it properly, they can be very profitable.
but like many things, people tend to over use it.
  • #491,536
  • Jul 17, 2011 1:13pm Jul 17, 2011 1:13pm
Quoting pkimnyc
as long as people understand how and when to apply it properly, they can be very profitable.
but like many things, people tend to over use it.

LOL, pick a D1 candle and a easy to identify next days candle, scan through 1000's of candles adding up when candle 1 occurs and candle 2 matches or looks different and you'll stop trading candles.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,537
  • Jul 17, 2011 1:15pm Jul 17, 2011 1:15pm
what will be new low on Monday 18th-Jul.? And any expected Idea for high point??
  • #491,538
  • Jul 17, 2011 1:16pm Jul 17, 2011 1:16pm
Quoting Turveyd
LOL, pick a D1 candle and a easy to identify next days candle, scan through 1000's of candles adding up when candle 1 occurs and candle 2 matches or looks different and you'll stop trading candles.
Quoting pkimnyc
as long as people understand how and when to apply it properly, they can be very profitable.
but like many things, people tend to over use it.
lol. do me a favor. let's not go into details, shall we?
  • #491,539
  • Jul 17, 2011 1:17pm Jul 17, 2011 1:17pm
Quoting pkimnyc
of course, candle formation is great when it's applied with s/r level with little bit of this and that. majority of my entries depend on this sucker.
i was speaking of using the rules w/o using candles. and you don't need a close. just a high and low. then if candles agree better yet. if chicken bones agree or an indi u like better yet. tl, fibs, ma, agreement better yet. in the end they all agreeing can be wrong,, so i have a sl..and a s/p
those who can, do. those who cant, talk about those who can
  • #491,540
  • Jul 17, 2011 1:17pm Jul 17, 2011 1:17pm
Surprise, surprise.... You(not you, in general) did not care when they put restrictions on traders using hedging and no fifo as part of their strategy. Oh, hedging is stupid, I don't understand it, etc. I am taking a month or so off to sort the mess frank/dodd did to my trading(and I will, because I have options. legal, financial and otherwise).

Problem in this country is that nobody cares when other people are being abused by an over reaching government. Oh, it's not my problem. Now they are coming for YOU, and guess what? You're screwed, because you did not stand up for principle. Just bending over and taking it will not save you. EVER.

pki, I am not referring to YOU, I just used your post to hook up into this discussion that affects me deeply. thanks.
Quoting pkimnyc
bastards..... that's all i can say...
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