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There is No Edge in a Single Candlestick

  • #21
  • Apr 5, 2015 5:45pm Apr 5, 2015 5:45pm
Two candles same TF 15m(first is made at 6:00 second is made 9:15)

First is made of 468 ticks
Second is made of 2336 ticks

What is this telling us?
  • #22
  • Apr 5, 2015 5:51pm Apr 5, 2015 5:51pm
Quoting Gollum99988
Two candles same TF 15m(first is made at 6:00 second is made 9:15) First is made of 468 ticks Second is made of 2336 ticks What is this telling us?
It says there is heightened volatilty, keep away. Take a hard look when the dust settles.
  • #23
  • Apr 5, 2015 6:09pm Apr 5, 2015 6:09pm
Ok the first is made before london open the second is made after london open is this making the second one more significant that the first one?
  • #24
  • Apr 5, 2015 6:14pm Apr 5, 2015 6:14pm
Here's a question. When you are driving a car, are you looking out the front of the car to see where you are going? or are you staring out the back to see where you have been?
Many of you stare out the back and that is why your accounts crash and burn.
  • #25
  • Apr 5, 2015 6:41pm Apr 5, 2015 6:41pm
Whitout reserching this(related to trading)
Quote
Many of you stare out the back

You could not understand this
Quote
looking out the front of the car to see where you are going

I'm I right
  • #26
  • Apr 5, 2015 6:47pm Apr 5, 2015 6:47pm
Quoting Gollum99988
Whitout reserching this {quote} You could not understand this {quote} I'm I right
so you are telling me whenever I get in my car at my house to go to say the gas station, I can only get there if I first look at the route I took to get my car to my house or wherever I am starting to drive from??
  • #27
  • Apr 5, 2015 6:54pm Apr 5, 2015 6:54pm
No.
Before you have come to the conclusion that the left side on your screen is not importand to your trading you have researched it first.
  • #28
  • Apr 6, 2015 1:46am Apr 6, 2015 1:46am
Quoting GnarlyPips
{quote} Close, but not right. A candlestick can't show you volume nor spread. I was referring to the sides of the candlestick, as well as their top and bottom, along with possible wicks. I hope you get now that I wasn't being serious about it.
Very funny. Nice Catch. :nerd:

I was not in a good mood yesterday, as some fellows tried to spoon-feed me something fishy the day before.

I took your trick question seriously, and though of "edges" as dimensions, in this context, we may consider volume for the candle period as another dimension that can be used in evaluating/validating the candle, same may go for average spread although with less importance.
No guts, no glory
  • #29
  • Apr 6, 2015 2:19am Apr 6, 2015 2:19am
Referring back to GBPUSD, H1, example chart posted on 1st post, and updated with today PA as below.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 74 KB


Why price would go down to "test" 1.486x, or go up and "test" 1.498x. "test" here means bounce or break.

Those are the closest areas of interest for the price at the moment.

1.486x represents a cluster of shorts who :

  1. Still think the major down trend will continue
  2. Have wide stops
  3. Will average on a higher price/or already averaged at a higher price

It also represents a cluster of longs who :

  1. Think that the major trend is reversing, or an up swing is forming
  2. News traders (NFP) who left some of their positions on the table for more profits
  3. ...

1.498x is a cluster of short Stop Losses, and hence is highly protected by bears, because if it is taken, price will go directly to the next SL cluster at 1.516x area.

No guts, no glory
  • #30
  • Apr 6, 2015 3:00am Apr 6, 2015 3:00am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting abokwaik
Making trading decisions based on a single candlestick in isolation of recent PA (S/R, Trend Lines, candle formations... etc) is like entering a dark room with one candle, compared to entering a dark room with as many candles as you can.
So what have we learned from the analysis of the extra candles that you require?

Quoting abokwaik
Referring back to GBPUSD, H1, example chart posted on 1st post, and updated with today PA as below. {image} Why price would go down to "test" 1.486x, or go up and "test" 1.498x. "test" here means bounce or break. Those are the closest areas of interest for the price at the moment. 1.486x represents a cluster of shorts who : Still think the major down trend will continue Have wide stops Will average on a higher price/or already averaged at a higher price It also represents a cluster of longs who : Think that the major trend is reversing, or an up...

That basically price can either go up or down? Genius
An expert is a man who has made all the mistakes which can be made
  • #31
  • Apr 6, 2015 3:33am Apr 6, 2015 3:33am
Quoting Neio
{quote} So what have we learned from the analysis of the extra candles that you require? {quote} That basically price can either go up or down? Genius
Of course Genius, the question is where you have your orders, and that can not be based on a single candle.

Since your are Laughing on Floor, I'll give you a bonus quote that I saw on a recent thread to Laugh on,
it goes "95% of the time price will close above or below the open."
No guts, no glory
  • #32
  • Apr 6, 2015 3:44am Apr 6, 2015 3:44am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting abokwaik
{quote} Of course Genius, the question is where you have your orders, and that can not be based on a single candle. Since your are Laughing on Floor, I'll give you a bonus quote that I saw on a recent thread to Laugh on, it goes "95% of the time price will close above or below the open."
So you know there are orders...but can you tell me what will happen when price hits those orders? Exactly, Price will either move up or down.

See I told you the same thing (that price moves up or down from a point) from one candle that it took you multiple candles to explain

I also told you that there is an edge in trading a single candlestick. I showed an explorer that demonstrated that. Just because you can't see it and can't be bothered to take the time to find the edge for yourself you decide to waste your time telling us nothing new.
An expert is a man who has made all the mistakes which can be made
  • #33
  • Apr 6, 2015 3:53am Apr 6, 2015 3:53am
Quoting Neio
{quote} So you know there are orders...but can you tell me what will happen when price hits those orders? Exactly, Price will either move up or down. See I told you the same thing (that price moves up or down from a point) from one candle that it took you multiple candles to explain I also told you that there is an edge in trading a single candlestick. I showed an explorer that demonstrated that. Just because you can't see it and can't be bothered to take the time to find the edge for yourself you decide to waste your time telling us nothing...
So the majority of Profitable technical traders look at multiple candle patterns to form and price levels.

And you look at single candle for your trading edge?

So do you have just one candle on your chart ?
We miss 100% of the shots we don't take
  • #34
  • Apr 6, 2015 4:20am Apr 6, 2015 4:20am
I value people who share openly, with no puzzle words and no mysteries.
I don't value people who say I found an edge, but I don't want to share, and go find it yourself.

I value people who have dedicated a thread to response to PMs.
I don't value people who post in their thread "I will not reply to PMs". Just don't reply, you don't have to publish that in the thread.
No guts, no glory
  • #35
  • Apr 6, 2015 4:22am Apr 6, 2015 4:22am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting Rooi
{quote} So the majority of Profitable technical traders look at multiple candle patterns to form and price levels. And you look at single candle for your trading edge? So do you have just one candle on your chart ?

We can all see patterns and levels so why are we not all profitable? Is that what really makes them profitable? Why is everyone not doing it then and making money?
Are we just not seeing the levels or the patterns? Why are so many people getting it wrong?

I have shared everything I wish to share in my thread.
An expert is a man who has made all the mistakes which can be made
  • #36
  • Apr 6, 2015 4:31am Apr 6, 2015 4:31am
Quoting Neio
{quote} We can all see patterns and levels so why are we not all profitable? Is that what really makes them profitable? Why is everyone not doing it then and making money? Are we just not seeing the levels or the patterns? Why are so many people getting it wrong? I have shared everything I wish to share in my thread.
You didn't answer my questions :
Quote
"
And you look at single candle for your trading edge?

So do you have just one candle on your chart ?

"

You seem to be full of BS mate if you cant answer simple questions .........
We miss 100% of the shots we don't take
  • #37
  • Apr 6, 2015 4:39am Apr 6, 2015 4:39am
Quoting Neio
{quote} We can all see patterns and levels so why are we not all profitable? Is that what really makes them profitable? Why is everyone not doing it then and making money? Are we just not seeing the levels or the patterns? Why are so many people getting it wrong? I have shared everything I wish to share in my thread.
just because you're not profitable doesn't mean we all are in the same hole you know... and if you can't take trades and hold on to them until you make 3 or 5x sl it doesn't mean we are all like you...

i agree with abokwaik about values, it's share or don't...

i think you should go to penguin traders, they are full of mysteries, you can fantasize with them about one candle all day long

br
dragan
fxkeys
  • #38
  • Apr 6, 2015 5:13am Apr 6, 2015 5:13am
Proves my point.He is just full of BS.Trying to get people to listen to him without any real theory or data to back it up

Big thank you to Abokwaik for starting this thread to disprove BS like that from a joker by using his logic and common sense
Attached Image
We miss 100% of the shots we don't take
  • #39
  • Apr 6, 2015 5:38am Apr 6, 2015 5:38am
Quoting CrucialPoint
Sorry, but I can't just help myself and post (and never more on this thread). I just want to point out that those Jokers on the other thread are actually making more money than the Geniuses on this thread
LOL

Who?

But you wont answer.Your like your buddy Neio,you will put me on ignore in a minute

The question wasn't related to profitability in general it was related to the edge found in a single candle using no price references or other previous candles based on the "fact" that price closes or moves(Edited after 3min) higher or lower than it opens.

No data given,no theory given,no nothing just a bunch of guys telling Abokwaik what an idiot he is for not seeing the edge when there is none IMHO

Bloody bunch of f#cken bullies and jokers beating around the bush.He posts a trade explore and then removes it.POINTLESS
We miss 100% of the shots we don't take
  • #40
  • Apr 6, 2015 7:06am Apr 6, 2015 7:06am
I am cool.

I respect everyone who spend their valuable time trying to share their skills and experience, or explore new ideas, or raise questions on such a great forum.

I never made fool out of any one for any reason.

I am a continuous learner, and an information seeker.

I never claimed to be a master, or even an exceptional contributor, and I try my best to discuss matters in a professional way.

I like to give and take in an enjoyable atmosphere, no harm in having some fun now and then, but it should never be through making fool out of other people.
No guts, no glory
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