[brownsfan019]

	Quote:	westhilltrader
	Hi there everybody, I am the "westhilltrader" and new to this forum. For two years now, I do mostly day-trading and only use 1 minute candlestick charts. They give the best representation of price evolution during any period, intraday or multi-day. However, none of my critical decisions for entry or exit points is done based on candle formations. I only use indicators for that. I also belive that the 1 minute period is the best choice for day-trading. Going smaller than that adds too much noise to the indicators and to the price itself. Larger periods cannot keep up with the speed of data change and action response required in day-trading. I do not have an expert view of the candles but, during my after market trade analysis, the classic candles or formations do not appear as reliably as required for a critical decision. So I stick to what has proven reliable to me

west - this thread is to discuss candlestick trading. If you want to start a new thread to discuss how you trade on 1 minute charts with indicators, please do so! How you trade may work for YOU, but that does not mean it's an absolute by any means. I would argue that the 1 minute chart is full of NOISE and that it's not good for daytrading. Neither of us is right as trading is about finding what works for YOU. So please keep that in mind when posting. If you want to share some trading ideas with us, start a new thread and see where it goes. If not, please reserve your comments for threads where you are staying on topic. This thread, is about trading USING candlesticks, NOT ignoring them. Thanks.

	Quote:	mister ed
	Regarding not viewing candlesticks in isolation, one of the major points raised in the VSA thread is to always look to the background, or the context, within which a "signal" occurs. Probably the post that summarises and highlights the importance of viewing the context within which a signal occurs is this one. In "pure" VSA analysis the price bars do not have an open on them, the bars are simply HLC, with a volume histogram below. Now, candles of course require an opening price on them, and a lot of the traders on the VSA thread use candles anyway, so there is plenty of scope for applying candle "patterns"/bars with background/context, especially for intra-day trading.

Good points Mr. Ed. I brought this up b/c I see too many people that have no idea how candles work saying - look at this hammer, it failed! Well, there's so much more that has to go on there it's not as easy as hammer hunting*.

	Quote:	james_gsx
	Oops, I forgot the charts so here you go. I went with 243 and 729 because I like things to happen fast, for some of you that might be too fast or too slow. Notice that the contract is the YM. If you plug in a 243vbc into the ES it will look like splattered paint. Just multiply 729 by 3 once or twice until you get something that you can work with. If you don't like the integer number then just make one up, there isn't a magic number just go with whatever works for you.

The key James in all of this is to find what works for you. Minute charts or VBC's can all work for candles, so it's taking the time to find what works for you.

	Quote:	BlowFish
	Hope you dont mind if I tag along and play Devils Advocate from the "its the underlying price action that the candle represents that is important" point of view. I promise to behave.

BF - I am watching you. Make your point and then go home!

	Quote:	walterw
	Thanks Brown for this new thread ¡¡ it will be very interesting to see where we can get here... My motivation here is to reduce my cronic scalping to a larger span but at the same time not so large... so it would be a more "larger scalping" aproach... So far I am very new to candles, so I cant talk with authority on this and I would like to learn from the masters... what I see is that 3 min and 5 min candles can do "something" for my idea, key is to create a good context so this patterns on this small time frames could be more credible... At this point I am paying a very close attention too dojis and hammers... Thanks for this oportunity ¡¡ and let the interaction start ¡¡ cheers Walter.

Walter - it really started with our interaction in the chat room.

I know you'll really put forth the time and effort into this, so that's why I am willing to discuss these ideas further. It's not much fun to start threads and see a couple responses. I would guess that if you get some ideas flowing, the threads and interest will follow as well.

* - the term 'hammer hunting' is originated and designed by brownsfan019. I like this term so much that I am claiming rights to it's use. If you like it, come up with your own idea.