Candlestick Trader

[brianmok]

Any Candlestick trader welcome to share theirs experience and tips. In shares or futures.
 =D>

[theng]

Any Candlestick trader welcome to share theirs experience and tips. In shares or futures.
 =D>

Candlestick  it was found by japanese , for the use of predicting and forcast  the price of the rice in the olden day they feel it to be very effective(in a very nature way) , so now people use it to analysis others.
Candlestick is a good tool too, but now some time the price moving is not it nature it is manipulated(some time u see a buy signal but it go the other way) , but we can still use it ,is we
learn our way out , if u feel it should move to A side but turn out to be B side, than study it and ask why, and look for other counter look for the same symbol, may be u can find out why .
That for today, I don't talk much may be some expert we fire at me, against what I'm saying
U r also an expert too.

[Darksidd]

That for today, I don't talk much may be some expert we fire at me, against what I'm saying
U r also an expert too.

Don't be like that Mr. Theng. In fact, many forummers here respect you. Actually, some debate once in a while is good for us too. At least we get differing opinion as to why something won't work while other do. As long as we debate it constructively and have have sportsmanship, I don't see why you should refrain yourself from speaking your heart out  :-k  

I hope the bizfun's forummers will be open-minded and debate in a gentleman manner [-o<  =D>  For the sake of fellow traders, lets make this forum lively....let us learn together.... \/  =D>

[theng]

That for today, I don't talk much may be some expert we fire at me, against what I'm saying
U r also an expert too.

Don't be like that Mr. Theng. In fact, many forummers here respect you. Actually, some debate once in a while is good for us too. At least we get differing opinion as to why something won't work while other do. As long as we debate it constructively and have have sportsmanship, I don't see why you should refrain yourself from speaking your heart out  :-k  

I hope the bizfun's forummers will be open-minded and debate in a gentleman manner [-o<  =D>  For the sake of fellow traders, lets make this forum lively....let us learn together.... \/  =D>

Don't worry that is nothing, i used to face it, I'm ready to except the debate , if prove me wrong
I learn .As I always discuss with my friend,some time he is right some time ME, from there we both learn

[brianmok]

Wanna know when a pattern occurs like Doji Star, what is the maximum day you will wait for an confirmation before entering a trade?

Some books saying that the best are 1 to 2 days, after that even the confirmation appear its invalid. Some expert says it can go up to more than a weeks.

Thanks

[theng]

Wanna know when a pattern occurs like Doji Star, what is the maximum day you will wait for an confirmation before entering a trade?

Some books saying that the best are 1 to 2 days, after that even the confirmation appear its invalid. Some expert says it can go up to more than a weeks.

Thanks

As I alway say there is no 1 is expert  in using particular tool or system in chart analysis.
Because manipulators is now  in the market , they learn too ,when the book or expert say
This type symbol up this type of style down , they form the pattern than do the other way.

Normaly doji black body, show weaker market, white body doji show stronger force, from
my opinion doji form second day u will get the result. I did use the doji to make money.
U try to study from chart ,because there is alot of doji, so u learn from there

[theng]

eagleyes

           I think u should show your kong fu to give our members your opnion on candlestick, don't show only a chart without  head and tail.

[eagleyes]

eagleyes

           I think u should show your kong fu to give our members your opnion on candlestick, don't show only a chart without  head and tail.

hahah.. i really dont know anything about kung fu lah Mr.Theng. I only know silat gayong  . Okay, about Doji  :-k . It's come with 2 kind of doji. If you use metastock, you can use the Steve Nison Candlestick Unleashed Metastock Plug-In(Unencrypted). It's comes with Doji Nothern and Doji Eastern. Doji Nothern is the bearish sign and the Eastern is the bullish. Sometime this Doji need some confirmation like a volume or buy and sells of the day. For me, if Doji is triggered, it's need 1 or 2 days to reconfirm the downside or upside posistion from its volume. Mostly like a followers. If there are no followers, this Doji projector will jump and the downside is what we will see. It's also a good system too but need to watch the activities in time to time so you are not bitten from a big jaws   .

[swingtrader100]

I find candlestick patterns to be very effective at identifying potential swing point. It does not work all the time but worked more often than failed.

[chan9]

Dear all experiences traders,

i am a new small investor, i heard from my friend said a candlestick charts pattern normally accompany with fibronacci retracement line, because myself always forgetful can not remember so many candlestick signal, so he asked me to do with this:-

1. if first rally had form up, just traced the first fibronacci ie 76.4%, than having another fibroacci put in between the top(100%) and 76.4% again and then watch the price movement, if price are break dowtrend over 50%(fibro. reading) a weak signal show, if break uptrend 50% can jump in the next day.

2. if price are break 76.4 downward, the no. 1 action need to be carry on again. if you are the candlestick experts the more advantage you get....   Is that true?

[Maxforce]

Bumping old topics 

Fibonnaci is a good tool.
Can even standalone or you could mix and match.
Some people use it for pullback entry - technical rebound play.
Some people use it for market timing e.g. Elliott Wave.

Candlesticks can be used in conjunction with Fib.
It strengthens the signal.
E.g. Say a stock had a rally. Then it retraces to 50% of the rally.
Fib will say good buy.
Candlestick - well, depends on the signal.
Now if the pullback is not a pullback but rather a beginning of a downtrend, then you may end up catching a falling dagger.
Hence, Candle signal strengthens the trade signal.

Fib can also be used in conjunction with other indicators e.g. EMA, STOCH etc etc.

Of course, the stronger your candlestick or any other TA, more advantage you will get

[chan9]

Dear dear!

that what i want to say in fibonacci but can't descripted very clearly, i wonder is my poor english difficult to understand by other?

Maxforce had highlighted the overrall what i want to said. but one things i want to ask, is that the japanese who created the candlestick using the fibo as a based to form the japanese candlesticks???

[Maxforce]

I seriously doubt that it was the Japanese who uses fib to create candlestick.
But as highlighted by Steve Nison, the Japanese have long known the Western Technicals before the West knows Candlestick.
It wouldnt be a surprise if the Japanese were the ones who use them in conjunction with each other.

Having said that, doubt it matters
As long as it works.

[chan9]

Hi! Maxforce,

Thanks for the opinion given, by the way any books, cds, vcds will you suggest? I only a candlesticks beginner.

[Maxforce]

Steve Nison's two books.
Should be enough theory to cover.
Rest is experimenting with the market.