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How to correctly use Doji candlesticks to spot a reversal?

  • #101
  • Jun 16, 2014 2:36am Jun 16, 2014 2:36am
As a wise man told me last night to stay on topic so here is just a simple example of our beloved doji ….. what I like to call a DOJI POST ….




I love this thread ………..hmmmmm …. no i don’t … well maybe I do deep down ……….. but then again …. ???


too Far Ken easy
  • #102
  • Jun 16, 2014 2:41am Jun 16, 2014 2:41am
Quoting hanover
Hi, "Price action" is a bit like "orderflow", at least in the sense that they can mean different things to different people. The James16 trading approach has been widely described as "price action". If I had to describe it in a single sentence, it's about candles that show rejection from key price areas, preferably on longer timeframe charts. If you like the supply/demand idea, there's a wealth of free info in Alfonso's post #1 (see link in my previous post). Also look up Sam...

Sam Seidens stuff is great, but he does not cover REASONS for supply and demand and why market makers respect supply/demand at certain times and not at other times. His weakness in this area can be detected when he starts using other indicators, such as oscillator's or Bollinger bands as confluence to his supply demand levels. If the market was truly only dependant on supply demand levels he would not need to do this. The main reason that he is so successful is that he uses a 1:3 RR ratio, so his approach becomes a statistical approach and all the stats are in his favour, SD levels hold more often than they fail as long as you are trading in the right direction, therefore if you set you RR ratios correctly you will always win, its like card counting in the casino.
  • #103
  • Jun 16, 2014 4:05am Jun 16, 2014 4:05am
Quoting Kuat
lol a guy that can post so many spams = cant trade for a living. trade all the demo you want and keep telling yourself it is real. calculate how many times a doji form and a reversal happens.. instead of talking all this bullshit...from the percentage of win/lose dojis you can know how much you need for risk:reward numbskull keeps talking but cant trade.. lets see joined FF since Feb 2009.. i'll round down.. 5 years..10,438 spam posts.. ok round down.. 10k 2k post a year. divided 365 .. roughly 5.5 post a day for the past 5 years..and still trading...
Kuat, not trying to jump on you or anything, but did you know that you can trade H4 charts and make money? Let's say I trade every 4 hours, that gives me three hours and say, 30 minutes to BS on FF. I could post a whole lot of stuff considering I only work three hours out of 24 total.

Now what if some smart aleck runs a lot of EA's and just manages them as needed. What then?

Just asking Kuat, just asking.
If you are good at something, never do it for free--Joker
  • #104
  • Jun 16, 2014 4:26am Jun 16, 2014 4:26am
Quoting jmn5611
{quote} Kuat, not trying to jump on you or anything, but did you know that you can trade H4 charts and make money? Let's say I trade every 4 hours, that gives me three hours and say, 30 minutes to BS on FF. I could post a whole lot of stuff considering I only work three hours out of 24 total. Now what if some smart aleck runs a lot of EA's and just manages them as needed. What then? Just asking Kuat, just asking.
Well tbh i trade the hourly candle and im glued to the screen all the time. (my fault) but that is so that i dont miss a signal or do a stupid trade ie buy in a big-sell environment... maybe it is like u said less stressful on the H4 chart and probably the guy who runs a lot of ea on demos, doesnt really matter what he does.

but point is this guy comes in, spams all the stuff in the world like its gospel and bullies the new ppl into submission thinking there is only 1 way. ROFL.

If you really manage serious money, boy you'll be glued like me watching as the price unfolds, even as i trade using a system, you'll still watch like a hawk..but of course what do i know.. that guy has 10k post to his name.. listen to him.

He doesnt even know the rule of trading. First get your probabilities right, then how much pips u make vs u risk.. if i know every single doji if taken results in 55% win, i'll still trade it, just need to manage where to enter and where to exit.. this guys , no,, he talks and talks and talks..all bullshit..
  • #105
  • Jun 16, 2014 5:02am Jun 16, 2014 5:02am
Cable just closed a doji on the 1-hr chart. So let us use this opportunity to 'see' what happens next.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #106
  • Jun 16, 2014 5:20am Jun 16, 2014 5:20am
Quoting Exodus
Cable just closed a doji on the 1-hr chart. So let us use this opportunity to 'see' what happens next.....
I agree

EDIT: Oh, I should note. Taken long before this Doji. In fact, before the rise to 70097 as well.
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Ghost Rider - WWTBMD?
  • #107
  • Jun 16, 2014 5:35am Jun 16, 2014 5:35am
Quoting albchr
{quote} I agree EDIT: Oh, I should note. Taken long before this Doji. In fact, before the rise to 70097 as well. {image}
You're up early, good morning Chris! I hope it is a nice day in your area.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #108
  • Jun 16, 2014 5:45am Jun 16, 2014 5:45am
Quoting Exodus
{quote} You're up early, good morning Chris! I hope it is a nice day in your area.
I get up for London everyday Exodus. Even when it's excruciatingly boring like today. ... lol

Good to see you. It's a rather damp morning from the chilly dew filled night. But the sun is starting to shine nicely. I expect a beauty. And you?
Ghost Rider - WWTBMD?
  • #109
  • Jun 16, 2014 6:06am Jun 16, 2014 6:06am
Quoting albchr
{quote} I get up for London everyday Exodus. Even when it's excruciatingly boring like today. ... lol Good to see you. It's a rather damp morning from the chilly dew filled night. But the sun is starting to shine nicely. I expect a beauty. And you?
....dry but grey and cool, with a promise of improvement. So far not a bad summer...

Oh look, Cable made a lower low. In my experience now is the time when it becomes obvious if there will be any kind of reversal.
Not much of a hammer with the last candle, I expect price to carry on down....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #110
  • Jun 16, 2014 6:10am Jun 16, 2014 6:10am
Quoting Exodus
{quote} ....dry but grey and cool, with a promise of improvement. So far not a bad summer... Oh look, Cable made a lower low. In my experience now is the time when it becomes obvious if there will be any kind of reversal. Not much of a hammer with the last candle, I expect price to carry on down....
9328 ish... first target. Too slow to watch though. Be back in NY at some point to check on things. Enjoy!
Ghost Rider - WWTBMD?
  • #111
  • Jun 16, 2014 6:14am Jun 16, 2014 6:14am
Exactly the way I would have expressed it.

Quoting Magix
{quote} The doji represents indecision in the market. The doji represents indecision in the market. The doji represents indecision in the market. The doji represents indecision in the market.
SPC * Swollen PocketZ Crew!
  • #112
  • Edited 7:24am Jun 16, 2014 7:07am | Edited 7:24am
Trading from a chart is an illusion.

The method is in the eye of the beholder.

If your take on things makes you money, you are on to something and hence right... FOR YOU! If you are losing money, you need to fine tune or scratch your methodology because it's not working... FOR YOU. It's not quite right.. FOR YOU!

I personally have no clue how to trade a DOJI when it happens but I sure as shit know how to trade price when it gets back to the level of the DOJI.

Enjoy... maybe some of you can add this to your bag of tricks. I no longer use this method. Found something easier and that's the point. Find something and make it your own.

Good Luck... Let's all get rich or die tryin'.... but it's going to take LOTS and LOTS of HARD ASS work and patience to WAIT!

It's all about the order flow and if you don't know, now you know....

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SPC * Swollen PocketZ Crew!
  • #113
  • Jun 16, 2014 7:22am Jun 16, 2014 7:22am
Quoting Kuat
{quote} Well tbh i trade the hourly candle and im glued to the screen all the time. (my fault) but that is so that i dont miss a signal or do a stupid trade ie buy in a big-sell environment... maybe it is like u said less stressful on the H4 chart and probably the guy who runs a lot of ea on demos, doesnt really matter what he does. but point is this guy comes in, spams all the stuff in the world like its gospel and bullies the new ppl into submission thinking there is only 1 way. ROFL. If you really manage serious money, boy you'll be glued like...
Did you not get enough love from your parents growing up?

Are you just made because I slapped you around in another thread?

Memeguy...

Maybe you should actually take 10 seconds and go through the thread, ACE. All you are doing is talking bullshit, for the sake of talking bullshit. I've summarized my position on using Dojis:

Quoting Magix
Dojis form inside of trends...all the time. And unless the trend reverses, nobody even looks at them a second time. If you want to use this as a trade methodology...feel free...but it really will give you no better than coin toss statistical averages and it is only a single part of a trade methodology...
See the short version starting HERE.

As for my post history...what does that have to do anything? Just because you have the inability to watch a chart and type at the same time, doesn't mean that we are all limited in this same capacity....And you trade off the hourly?

Seriously...

Does your broker require you to chisel your orders in to a stone tablet to trade?
Is there an essay required before you are allowed to take an order?

You don't want to miss a move...start getting smarter or start getting quieter. This shit has been covered throughout the thread and in my historical posts. Simple trade patterns based on supply and demand, which I post on all the time that can be reviewed in this thread or throughout my post history.

Here is just a sample of what I do...

This was an example of a support area from Friday, followed through with the forecast before market opened.
http://www.forexfactory.com/showthre...74#post7533374
Followed with the topside target...same line
http://www.forexfactory.com/showthre...92#post7537292

Right up to current.

While you were watching your hourly candles all night...It only took me a glance at market to know where I was looking to take my trades...and followed up with it, LIVE in this thread.
http://www.forexfactory.com/showthre...54#post7537854

And now...the current chart
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #114
  • Jun 16, 2014 7:23am Jun 16, 2014 7:23am
the use of the past to predict future price movements only exists because of humans intense fear of uncertainty and an obsessive need to quantify everything. There's absolutely zero proof of lines on a chart having any edge whatsoever, these lines are ignored as often as they are respected - traders are capable of seeing exactly what they want to see and nothing contrary to it.
tradewith60
  • #115
  • Jun 16, 2014 7:34am Jun 16, 2014 7:34am
Quoting Magix
{quote} I wasn't gunna try and pick another fight in this thread... Glad you did... Agree with you...especially since I just posted charts on this very same thing...
like i said, zero statistical proof - or even performance proof
tradewith60
  • #116
  • Jun 16, 2014 7:35am Jun 16, 2014 7:35am
This sentence is absolutely correct. BUT.... What separates a profitable trader from the non profitable is the persons' ability to read the order flow. Plain and simple. An experienced person knows what will hold and what will fail and be right about it more times than he or she is wrong about it........ and again .....that's why it's called trading... and not easy money

Plus one persons' lines might be better than another's...

....but the thread is about the Doji

This place is wacky....

Quoting 60minuteman
these lines are ignored as often as they are respected - t
SPC * Swollen PocketZ Crew!
  • #117
  • Jun 16, 2014 7:40am Jun 16, 2014 7:40am
Quoting JoeNY
This sentence is absolutely correct. BUT.... What separates a profitable trader from the non profitable is the persons' ability to read the order flow. Plain and simple. An experienced person knows what will hold and what will fail and be right about it more times than he or she is wrong about it. ....but the thread is about the Doji {quote}
yeah, i made some points about the doji, I just get tired of these guys who join a few highs and lows together and somehow expect us to say "hell yeah, you're great, what a trader". There's an all pervasive mindset that seems to think that only these tired, mostly useless technical studies will lead you to profit, which is total bull and doesn't even have any statistics to back it up
tradewith60
  • #118
  • Jun 16, 2014 7:46am Jun 16, 2014 7:46am
I hear ya Brotha.... well every man and woman will need to find their way I guess. I learned the hard way. It was what it was... but it's now the past.


Quoting 60minuteman
{quote} yeah, i made some points about the doji, I just get tired of these guys who join a few highs and lows together and somehow expect us to say "hell yeah, you're great, what a trader". There's an all pervasive mindset that seems to think that only these tired, mostly useless technical studies will lead you to profit, which is total bull and doesn't even have any statistics to back it up
SPC * Swollen PocketZ Crew!
  • #119
  • Jun 16, 2014 7:46am Jun 16, 2014 7:46am
Quoting JoeNY
This sentence is absolutely correct. BUT.... What separates a profitable trader from the non profitable is the persons' ability to read the order flow. Plain and simple. An experienced person knows what will hold and what will fail and be right about it more times than he or she is wrong about it........ and again .....that's why it's called trading... and not easy money Plus one persons' lines might be better than another's... ....but the thread is about the Doji This place is wacky.... {quote}

Sit back and enjoy Joe …. this thread is pure gold
  • #120
  • Jun 16, 2014 7:47am Jun 16, 2014 7:47am
Quoting jamesph61
{quote} Sit back and enjoy Joe …. this thread is pure gold
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