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We were fools to believe candlesticks can predict

  • #181
  • Sep 7, 2014 5:37pm Sep 7, 2014 5:37pm
Pointless thread, lol

I would like to know why he started it in the first place?
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  • #182
  • Sep 7, 2014 7:25pm Sep 7, 2014 7:25pm
Quote
We were fools to believe candlesticks can predict

Those who believe that candlesticks have predicting power are very naive or just simple novices who dont know what they are.

Its not the candlesticks which have the predicting power but the price itself, as it has autoregressive properties.

But the price =/= candlesticks. Because the sticks are only X number of ticks grouped into a time period, and most timeframes are illogical, irrational and unjustifiable by any common sense, like 5MIN ,15MIN etc, have absolutely no logic behind them, they can be the same way 3min or 7min bars.

So because the timeframe itself is irrational, the candlesticks which make up the price by TF are also irrational.

But the price itself has autoregressive properties, not the candle, so while the price can predict future price, the candle cant.

Hopefully this explains some misconceptions!
"There's a sucker born every minute" - P.T. Barnum
  • #183
  • Sep 9, 2014 7:30am Sep 9, 2014 7:30am
what? I have no idea what you just said ,course the market is fractal so whats the point in talking TF ?


Quoting Proximus
{quote} Those who believe that candlesticks have predicting power are very naive or just simple novices who dont know what they are. Its not the candlesticks which have the predicting power but the price itself, as it has autoregressive properties. But the price =/= candlesticks. Because the sticks are only X number of ticks grouped into a time period, and most timeframes are illogical, irrational and unjustifiable by any common sense, like 5MIN ,15MIN etc, have absolutely no logic...
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  • #184
  • Last Post: Sep 9, 2014 7:32am Sep 9, 2014 7:32am
Quoting smash1820
Pointless thread, lol I would like to know why he started it in the first place?
Because when you start threads you get followers. When you have followers you get red parallelogram. Red parallelogram means you're "important"

At least that's why I'd start a pointless thread....as many before him have.
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