[idaxtrader]

Firstly, I would like to thank Brownsfan for maintaining this candlestick section. Its really a great place to find out practical information about the application of candlesticks.

This month I have decided to re read Nisons work in a very careful manner. I thought it would be a good idea to post a few nuggets from his book as I progress with my reading. My purpose of this is to help fill the reality gap between the theory of candlesticks and the end of month results to my account. By now almost everyone is familiar with the basics of candle sticks but even with this knowledge most still struggle with actually extracting decent profits on a consistent basis using this method. My goal to identify and remove the hurdles that may obstruct a trader applying this approach. I would greatly appreciate any form of interaction to this thread, not so much about your success but where you may have made a misstep and the resulting lesson learned. Trading is nothing more than trial and error and then refinement. The more errors contributed to this thread the more growth to everyone.

Here's the first nugget from Nisons Beyond Candlesticks book.

"A single candle by itself is rarely sufficient reason to forecast an immediate
reversal" (21)