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  • #898,681
  • May 16, 2014 11:39pm May 16, 2014 11:39pm
Quoting amikaking
{quote} Yup that didnt work but it doesnt mean this time it wont =)Trading is a probability game, if not there will be no risk in trading and we could be right 100% all the times.
I am just saying you presented a signal when it came out WRONG just 4 candles earlier, and you ignored it.

Candle stick is commonly used as confirmation signal on the shorter time frames. Not reliable at all when it is used as main entry signal nor used on large time frame especially when there is any fundamental drive to back it up.

Trading is a probability game? I knew you gonna say that. Game much if every tick cost you 100 bucks?
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,682
  • May 16, 2014 11:44pm May 16, 2014 11:44pm
Quoting amikaking
{quote} A quote from you: To live a creative live, we must lose our fear of being wrong.
It's a beautiful quote.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,683
  • May 16, 2014 11:48pm May 16, 2014 11:48pm
Quoting FXSayWhat
Candle stick is commonly used as confirmation signal on the shorter time frames. Not reliable at all when it is used as main entry signal nor used on large time frame especially when there is any fundamental drive to back it up.
Why would candlesticks be any more effective on one time frame than another?

And

Why can't they be used as a primary or sole trigger?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #898,684
  • Edited May 17, 2014 12:08am May 16, 2014 11:52pm | Edited May 17, 2014 12:08am
Quoting FXSayWhat
{quote} I am just saying you presented a signal when it came out WRONG just 4 candles earlier, and you ignored it. Candle stick is commonly used as confirmation signal on the shorter time frames. Not reliable at all when it is used as main entry signal nor used on large time frame especially when there is any fundamental drive to back it up. Trading is a probability game? I knew you gonna say that. Game much if every tick cost you 100 bucks?
Hi bro, no offense here but did I just mention that the signal which came out just 4 candles earlier is a VALID bearish engulfing pattern? The signal itself had not covered the high of the previous candle so you can't say it was a bearish engulfing signal either =)

And also, I make my analysis based on the monthly and weekly charts to have the overall picture to judge the trend sentiment, and I use only either weekly or daily pivot and resistance level on the DAILY chart to rejoin the selling crowds.

Please refer to here if you haven't: http://www.forexfactory.com/showthre...58#post7474358
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  • #898,685
  • May 16, 2014 11:58pm May 16, 2014 11:58pm
Quoting Magix
{quote} Why would candlesticks be any more effective on one time frame than another? And Why can't they be used as a primary or sole trigger?
Please explain to us this question as well, we are curious to know the answer too, Mr. FXSayWhat. =)
  • #898,686
  • May 17, 2014 12:01am May 17, 2014 12:01am
Quoting Magix
{quote} Why would candlesticks be any more effective on one time frame than another? And Why can't they be used as a primary or sole trigger?
what's the quickest indicator?

and

what's the quickest confirmation indicator before you take the trade?
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,687
  • May 17, 2014 12:08am May 17, 2014 12:08am
Quoting FXSayWhat
{quote} what's the quickest indicator? and what's the quickest confirmation indicator before you take the trade?
We aren't talking about speed, dude...

You plainly stated that Candlesticks are not reliable and are used as confirmation on shorter time frames only...

This information is incorrect.

If you have a trade methodology that works for you, that is fine...nobody is telling you to change.

HOWEVER!!!

Because you have the inability to use applied information based on candlesticks, doesn't make them unreliable...just means that you don't know how to use them, or have found a methodology that is more conducive to your style of trading.

To answer your question, price.

I have built trade systems based on Candlestick and price movement alone and can also show applied statistical analysis...

You only have your opinion...and because in your signature, you claim 2% DD per week, you haven't achieved a 100% perfect trigger...so you must be able to appreciate that others take losing trades as well.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #898,688
  • May 17, 2014 12:22am May 17, 2014 12:22am
Quoting Magix
{quote} We aren't talking about speed, dude... You plainly stated that Candlesticks are not reliable and are used as confirmation on shorter time frames only... This information is incorrect. If you have a trade methodology that works for you, that is fine...nobody is telling you to change. HOWEVER!!! Because you have the inability to use applied information based on candlesticks, doesn't make them unreliable...just means that you don't know how to use them, or have found a methodology that is more conducive to your style of trading. To answer your...
Agree
FXcube does nicely with simple CCi and Bollinger Bands
In my opinion 2 indicators is perfect.More indicators create more conflicting picture.
After many hours one can trade and predict price by simply looking at Price behavior.
Mr.Pip at FF one of my favorite traders has video showing basic order flow trading without indicators.He is professional and trades full time.
I'll post his video soon as I find it.
ok found it
Inserted Video

Great insights how PA behaves.
In trading, you have to be defensive and aggressive at the same time
  • #898,689
  • May 17, 2014 12:52am May 17, 2014 12:52am
Quoting Magix
{quote} We aren't talking about speed, dude... You plainly stated that Candlesticks are not reliable and are used as confirmation on shorter time frames only... This information is incorrect. If you have a trade methodology that works for you, that is fine...nobody is telling you to change. HOWEVER!!! Because you have the inability to use applied information based on candlesticks, doesn't make them unreliable...just means that you don't know how to use them, or have found a methodology that is more conducive to your style of trading. To answer your...
I said candle stick is NOT reliable when used on large time frame without having a fundamental drive backing it up. You gotta to get my sentence complete before accusing my ability understanding the candle sticks.

And you know candle stick is just psychological indicator right?

Candle stick does not work well on anything above daily chart because 6 days (weekly char) or 30 days (monthly chart) of fundamental element would most likely to overrule the candles. AM I NOT RIGHT ABOUT THIS ABOUT THE CANDLE STICKS?

I am just telling amikaking generate signals based on the candle pattern on weekly and monthly is not reliable. I said that because i understand what fundamentally drive the market on weekly and monthly chart, and THAT"S NOT CANDLE STICKS.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,690
  • May 17, 2014 12:56am May 17, 2014 12:56am
Quoting Davit
{quote} Agree FXcube does nicely with simple CCi and Bollinger Bands In my opinion 2 indicators is perfect.More indicators create more conflicting picture. After many hours one can trade and predict price by simply looking at Price behavior. Mr.Pip at FF one of my favorite traders has video showing basic order flow trading without indicators.He is professional and trades full time. I'll post his video soon as I find it. Great insights how PA behaves.
There is more than one way to skin a cat...

Here's a list that myself and a few friends are testing...

Link.

Here is my personal favorite on the week...

Link.

Here is an example of an indicator free trader that works by price and candle sticks, alone.

Link.

Applied statistical analysis based on Hourly Candles as applied to the indicator free trader.

Link.

What you do and how you do it are irrelevant. If you cannot make something work, move on...there is an endless supply of information and because of the 24 hour clock we can trade on, the education never has to stop!

My dos centavos.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #898,691
  • May 17, 2014 1:05am May 17, 2014 1:05am
Quoting FXSayWhat
{quote} I said candle stick is NOT reliable when used on large time frame without having a fundamental drive backing it up. You gotta to get my sentence complete before accusing my ability understanding the candle sticks. And you know candle stick is just psychological indicator right? Candle stick does not work well on anything above daily chart because 6 days (weekly char) or 30 days (monthly chart) of fundamental element would most likely to overrule the candles. AM I NOT RIGHT ABOUT THIS ABOUT THE CANDLE STICKS? I am just telling amikaking generate...
I don't base my trading decisions on candles solely but I do pay attention to rejection candles.
When you have long tails like porcupine H4 H1 30min then its clear price is clearly rejected going higher and if that fits with your system it just confirms it.
I agree that higher candles mask lot of information.This when experience comes in.
Example from today's afternoon trades I took on Aussy. Notice long tail rejections?
Regards
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In trading, you have to be defensive and aggressive at the same time
  • #898,692
  • May 17, 2014 1:08am May 17, 2014 1:08am
Quoting amikaking
{quote} Hi bro, no offense here but did I just mention that the signal which came out just 4 candles earlier is a VALID bearish engulfing pattern? The signal itself had not covered the high of the previous candle so you can't say it was a bearish engulfing signal either =) And also, I make my analysis based on the monthly and weekly charts to have the overall picture to judge the trend sentiment, and I use only either weekly or daily pivot and resistance level on the DAILY chart to rejoin the selling crowds. Please refer to here if you haven't:...
You did the candle right, darling.

do you know why that yellow bear candle failed tanking? Ukraine crisis happened.

What's gonna happen next month? when will the uncertainty end? Where is your edge?

Like i just replied to maxig earlier, there is more to it when it comes to how the weekly and monthly chart moves. I am certain how the price move is NOT solidly based on the candle stick which you have been presenting.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,693
  • May 17, 2014 1:11am May 17, 2014 1:11am
Quoting FXSayWhat
I said candle stick is NOT reliable when used on large time frame without having a fundamental drive backing it up. You gotta to get my sentence complete before accusing my ability understanding the candle sticks.
This doesn't help your battle, dude.

All time frames work the same. The only thing that changes is the RANGE.

Your point on application of fundamentals to candlesticks is a prime example of your ignorance as to this applied data. You have proven my point.

Quoting FXSayWhat
And you know candle stick is just psychological indicator right?
No, again you are mistaken.

It is a representation of price movement compiled into a selected period of time. Though these can create and dictate supply and demand levels, their movement in and out of these ranges is still just a representation of price movement.

Quoting FXSayWhat
Candle stick does not work well on anything above daily chart because 6 days (weekly char) or 30 days (monthly chart) of fundamental element would most likely to overrule the candles.
Again, you fail in the application of information. Check out how well price can obey opens and closes of candles on All Time Frames, from the M1 to the MN...It is your belief that fundamentals need change the charts...though they can have an impact on movement, typical all out directional changes are only driven by this, not created.

Quoting FXSayWhat
AM I NOT RIGHT ABOUT THIS ABOUT THE CANDLE STICKS?
Yes! You are 100% NOT RIGHT about candle sticks!

Quoting FXSayWhat
I said that because i understand what fundamentally drive the market on weekly and monthly chart, and THAT"S NOT CANDLE STICKS.
And here is where you have summarized what I have been saying...this is what you understand. Many of us only rely on charts, not news. I believe that price will predict press in any given market and only though minor manipulation on stats does this not apply...overall...The news has been heard by money, long before the market sees and hears...it's already got a driver, just needs the gas.


If you want to argue fundamentals with somebody, this too is fine...you just may not want to use blind, sweeping statements in areas where your knowledge is limited. These conversations never bode well in a public community.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #898,694
  • May 17, 2014 1:12am May 17, 2014 1:12am
Quoting Magix
{quote} There is more than one way to skin a cat... Here's a list that myself and a few friends are testing... Link. Here is my personal favorite on the week... Link. Here is an example of an indicator free trader that works by price and candle sticks, alone. Link. Applied statistical analysis based on Hourly Candles as applied to the indicator...
I admire your diligent efforts.Yes so many ways to skin a cat.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #898,695
  • May 17, 2014 1:15am May 17, 2014 1:15am
Quoting Davit
{quote} I admire your diligent efforts.Yes so many ways to skin a cat. Regards
Not walking alone...

I've got a full house full of testers and folk a lot smarter on the code front helping me along...

The testers group are volunteers from my testing lab. All want to do the same thing...find an answer to their own specific question.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #898,696
  • May 17, 2014 1:15am May 17, 2014 1:15am
Quoting Davit
{quote} I don't base my trading decisions on candles solely but I do pay attention to rejection candles. When you have long tails like porcupine H4 H1 30min then its clear price is clearly rejected going higher and if that fits with your system it just confirms it. I agree that higher candles mask lot of information.This when experience comes in. Example from today's afternoon trades I took on Aussy. Notice long tail rejections? Regards {image} {image}
Yup, you got it. thanks for pulling the charts out because that is what i was about to do haha...

I never stated candle is useless. Candle is my break and butter when it come to trading. I am just pointing out for a fellow trader the fact it does mask tons of information on long charts which does NOT offer him the edge to his trades.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,697
  • May 17, 2014 1:18am May 17, 2014 1:18am
Quoting Magix
{quote} This doesn't help your battle, dude. All time frames work the same. The only thing that changes is the RANGE. Your point on application of fundamentals to candlesticks is a prime example of your ignorance as to this applied data. You have proven my point. {quote} No, again you are mistaken. It is a representation of price movement compiled into a selected period of time. Though these can create and dictate supply and demand levels, their movement in and out of these ranges is still just a representation of price movement. {quote} Again,...
okay i am 100% wrong, and you are 100% right. Good, moving on.
btw nice knowing you, magix.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #898,698
  • May 17, 2014 1:28am May 17, 2014 1:28am
Quoting FXSayWhat
{quote} Yup, you got it. thanks for pulling the charts out because that is what i was about to do haha... I never stated candle is useless. Candle is my break and butter when it come to trading. I am just pointing out for a fellow trader the fact it does mask tons of information on long charts which does NOT offer him the edge to his trades.
I have to agree with Magix that candles have nothing to do with psychology.It is just price.
I think over time some things will resonate more as you gain experience.
Best advise I can give is be open minded to admit you don't know.It totally frees your ego and allows you to develop as profitable trader.
There is so much more about trading order flow,harmonics, news,sentiment,repeated patterns ,S/R round numbers,Fibs,deviations etc.
Its matter of synthesizing all this to make money.If one can sound extremely smart but cant trade profitably then objective is not met.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #898,699
  • May 17, 2014 1:28am May 17, 2014 1:28am
so you wanna say that anybothy in heare not making easy money 1000$ monthly cause of trading sounds like viewing your post that is a hard peanut to eat....
  • #898,700
  • May 17, 2014 1:30am May 17, 2014 1:30am
Quoting lolipop
so you wanna say that anybothy in heare not making easy money 1000$ monthly cause of trading sounds like viewing your post that is a hard peanut to eat....
no offence i dont wanna sound like im asking how much you making...
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