The magnitude of sophisticated information instilled in the signals, illustrated with the utmost graphic simplicity, creates the opportunity for everybody to reap great benefits from Candlestick formations. My thanks go to Steve Bigalow and the Staff of the Candlestick Forum for exposing a repertoire of learning processes and successful investment programs.
Take advantage of the knowledge that is being presented on the Candlestick Forum Website. I sincerely recommend becoming familiar with the inherent concepts associated with the forming of the Candlestick signals.
Nothing to download; easy access from any computer. All recorded and available for playback the next day. Daily Review of Open Positions Just like the Daily stocks of interest; members receive nightly videos of open positions placed into trade during the day. Testimonials B.
Brooks, North Carolina For those that want to get all of the information in a hurry, the private session is a must! Danny, Colorado …thank you for putting on a great semi private seminar. David Goddard, Investment Fund Manager Despite my great success in producing what I thought were well-researched returns, I have been surprised by a whole methodology that I have overlooked.
Happy investing! Username Your Email :. Yes No. There is enough info on the Internet for you to Learn about C-Sticks. Thanks for the review — and the backtesting. Thanks for that interesting review! Finally somebody who critically looks at this candlestick chart thing.
Oh man, I am stretched so thin right now. But this is a great opportunity for you to do some individual research and perhaps write up a blog post for us? I would certainly appreciate it. So I was checking quite a few charts and thought that those candlestick signals, if followed correctly, MAY work. Will keep you updated if I got some positive or negative results after further exploring that candlestick strategies.
Sorry for the double post yesterday btw. About a year ago. It made sense to me easy to understand, etc. You seem like an honest guy. Which is quite remarkable in itself. Thanks, again. Statistically there is no advantage to these candlestick patterns. Personally I like candlesticks and the knowledge of how to read them helps me understand what was going on in that trading period but I never base a trading decision solely in what candlesticks are saying. The best rules to follow are trade only good quality stocks and trade with the major trend to gives yourself the best chance of having a successful trade.
By the way, what about the moving averages? I used to really believe in candlesticks, as I could clearly see the candlestick patterns form, and then easily view the price action after the candlestick pattern had formed. However, once I started to apply a more scientific method to my own personal trading, in the form of statistical analysis, I discovered that candlestick patterns are random.
That doesnt mean that you should not use them. It simply means that you should learn how to program the patterns, and then test the patterns on prior data. Sometimes we think we see Jesus clearly in our morning toast. Or the Virgin Mary through a reflection. But the truth is that when we are predisposed, we are likely to see whatever we are looking for. Thank you. Candlesticks are the perfect tool for shady trade system salesmen because they give an incredible number of false positives.
I suppose the 8 EMA might save you, but if so, why bother with the candlesticks to begin with? Amazing how these people get away this nonsense. Even Steve Bigalow raised an eyebrow. Nice two reviews on candlesticks. I guess you can say slicker the site, less real value it has. Great traders are not very good in marketing; because they spend all the time trading and finding new ideas.
Speaking of candles and bars. I personally use OHLC bars, because main flaw on candles is color. It would be better to use the in one color only- Since you like backtesting stuff; why not add some other conditions. And maybe put in MACD that is rising? Just an idea. I want to say that candles can be useful when combined with other stuff. Alone, they have lost their power, if there ever was any. Heck; I would bet that there is some algo that chases those patterns on high volume, and than destroys pundits who are blind followers.
The candlesticks review really did not need to be written. I think that most folks already understand that they are marginally useful.
However, I wanted to get something written on Bigelow and Nison because they are sort of the gatekeepers for newbie traders. A lot of newbies stumble into candles and waste a lot of resources attempting to implement them. For the more experienced traders, I wanted to write the review in hopes that I could spur the more experienced guys into taking another look at backtesting some of these long held belief systems.
Modern computer technology is cheap and easy, we can quickly test these old ideas, move forward and focus on things that actually validate.
Here is what works Emmett. It is precisely for this reason that risk management is so eminent and been ready to allow your winners to run aiming at 5 to 1 or greater risk to reward in some trades. Candlestick pattern recognition has relevancy 2. If an average trader wants to become a good trader, they need to conduct the back-testing themselves. Not only to determine what works best for them, but also, to determine the timeframe that works best for their schedule if they work a job where they are unable to see the market.
You pretty much called yourself an average trader because you stated every red candle sparks emotion, which is fine, but there is a reason why many successful traders use them. Red candles are an excellent signal for options and futures trades like myself. Enough with the back testing! Back testing is only as good as the test set up.
Quite brilliant really. I think people have forgotten what candles actually do. They were never meant to be magic indicators. They show you internal price action and have to be used within a context. Simply running a backtest on a pin bar, for example, without any context whatsoever, is a waste of electricity and only serves to confuse people about the value of a pin bar. Just picked totally at random.
I count 15 pin bars since January today is 4 June You might say there are There were several other turns without pin bars. The pin bar is merely a manifestation of price action on a lower time frame. Price opens low, goes high, hits a resistance level, gets reversed, closes low.
In these 11 cases, trades on that day saw price hit what they could all see was resistance and then they exited. No magic. The pin bar is an After Action Report of what traders did. There is nothing magic about candles. They are neither inherently good or bad. But they can show you a brilliant picture of what is happening during the day in question. Technical analysis is bull crap.
It does not work most of the time and in the long run you lose money! Nobody earns a living trading with technical analysis. They make money by selling technical analysis methods that do not work long term. Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Hi dave11, could you please share the system here. Click to expand You must be registered for see links.
Please explain how to upload the indi. I have watched a video about his 'T Line'. It is just an 8ema on a 15min chart and you buy when a candlestick crosses up or sell when it crosses down. I have looked at a number of pairs and found quite a few making lots of pips. You need to have a little more knowledge before starting the trade. The only trouble would be deciding at what time you trade. One day I counted about pips but that was all day - 24 hours.
I am due to watch the webinar tomorrow at 9am. I will let you know if there is anything to add. I meant I will upload the cycle indicator for anyone who cares to use it rohitrazdan, It may or may not be useful to anyone.
I should have made that clear in my initial post. How did the webinarmgo along? Is it fruitful? Anything using on the triple line method? Until then, short positions can continue to be held with the T line being the final criteria. A major advantage of candlestick analysis is not only being able to analyze what the overall market direction is doing, but being able to scan for the strongest powers signals that will be most profitable during the current trend.
Obviously, and a bearish market, finding sell signals utilizing simple candlestick scanning techniques allows for high probability trades. But even more so is the identification of the power sell signals. This allows for maximizing profitability during an existing market trend. Join us this Saturday, January 15 for a Candlestick Mini Spotlight training, identifying the strong powers signals.
Simple visual analysis allows investors to maximize their profitability by being in a strong price move. The T line rule will improve your profitability immensely.
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