You could just set triggers based on the firm criteria that MUST be met in order to qualify as a potential trade. Then you manually decide whether to drop the hammer or not...so to speak.

[brownsfan019]

Originally Posted by forsearch »

You could just set triggers based on the firm criteria that MUST be met in order to qualify as a potential trade. Then you manually decide whether to drop the hammer or not...so to speak.

If I am going to spend time and money to automate my trading, it will run at 100% automation. If it can't do that, I'm not interested.

[sep34]

Brownsfan,

Are CandleStick a primary method for you...or
a secondary part of you overall method/system or something else?
Simply, are you one of those Hardcore Candlestick traders or you just use them in conjuction with your overall methods.


-------------------
nevermind...
saw one of your post that answered my question.

[Tams]

I have posted an EasyLanguage Candle Pattern Identification indicator here:
http://www.traderslaboratory.com/for...html#post59489



This indicator prints the candle name on the bottom of the screen.
.

[brownsfan019]

As I've stated previously, using a 'candle finder' software ESPECIALLY in intra-day trading is not only lazy but cannot possibly find the appropriate patterns.

In intra-day trading there is not room for rigid, computer defined 'find-a-shape' programs. You must remain flexible in your definition of patterns if using candles in your trading.

And before any of our new friends chastise me for saying 'my backtesting shows these do not work' 1) candles are not the be all end all - must be used in conjuction w/ some other analysis 2) if you use rigid, computer defined find-a-shape program, it cannot possibly do the intra-market analysis that a brain can.

Simply put - computer find-a-shape programs are for those that want a quick and easy way to trade via candlestick patterns. Inevitably, these WILL fail.

[sneo]

i cant agree more with brownsfan. The candlestick patterns by themselves is a weak way of making money (probably losing more than winning) if they are not used in context with the situation. The use and identification of candlesticks has to be wholistic and used in conjunction other tools with appropriate money management.

[CandleWhisperer]

Originally Posted by sneo »

...The candlestick patterns by themselves is a weak way of making money (probably losing more than winning) if they are not used in context with the situation. The use and identification of candlesticks has to be wholistic and used in conjunction other tools with appropriate money management.

Candle patterns on their own are really not sufficient to make money in the markets. This is exacerbated by the fact that most "patterns" that can be found in books or on the internet are losing (low probability) patterns.

What one really has to understand is the price action PRIOR to the pattern.

Most traders fail here because they assume that the candle pattern defines the price action. The truth is the price action defines the candle pattern.

[brownsfan019]

You say tomato, I say tomatoe...



Point is that candlestick patterns are incredibly useful tools for the visual learner, like myself, when used in a context that makes sense. Much of this has been explained throughout this entire area of the forum so I won't regurgitate.