[tradeit007]

I am new to the forum and I too am trying to go through the 100+ pages
of VSA.
It'll be easier to participate when I get the hang of it.
I've been doing Glenn Neely's neowave for a year (a version of Elliott Wave)
and am looking for something easier.

tradeit007

[brownsfan019]

Welcome tradeit!

If you want 'easy' - candlesticks are about as easy as they come.

[Soultrader]

Welcome aboard tradeit.

[tradeit007]

Hello Brownsfan019,

I don't have a warm, fuzzy feeling about candles, here is why.
Say I look at 15-min charts. If I could move the price action of the day
5 min earlier, all those pretty dojis, hammers etc... would disappear.

I find it hard to believe in a system that would rely on a single candle.

It is really about data reduction. I would expect to have to look at
at least 3 candles to compensate for the under-samling of the info.

Just my 2 cents,
Rene

[james_gsx]

You have to understand how candlestick analysis really works before you say it doesn't work. Like Brownsfan said, it is one of the most simple things to trade, especially if you combine it with VBCs.

And you don't rely on a single candle in CA, you use the candles to determine the discrepancy between buyers and sellers. You read the candle in correlation to where the market has been moving. For example, a doji or "hammer" doesn't really mean anything in a sideways market, but a hammer after a downtrend could give you heads up. The candles tell a story.

I guess I don't really understand what you mean by "If I could move the price action of the day 5 min earlier, all those pretty dojis, hammers, etc... would disappear." Maybe you can clarify that?

[brownsfan019]

Originally Posted by tradeit007 »

Hello Brownsfan019,

I don't have a warm, fuzzy feeling about candles, here is why.
Say I look at 15-min charts. If I could move the price action of the day
5 min earlier, all those pretty dojis, hammers etc... would disappear.

I find it hard to believe in a system that would rely on a single candle.

It is really about data reduction. I would expect to have to look at
at least 3 candles to compensate for the under-samling of the info.

Just my 2 cents,
Rene

Rene,
You are entitled to your opinion. As a trader of candlesticks for many years in a professional, full-time capacity, I (and my bank account) would respectfully disagree.



Welcome aboard and good luck!

Note - candlestick analysis is not about looking at one random candle. If you want something that EASY, then don't waste your time with candlestick analysis. You asked for easy and I provided a somewhat easy option. If you want super, duper easy, can't help there.

[walterw]

I started to study Nison last night... Awesome ¡¡ thanks Brown ¡¡

for my longer term trading that I plan to develop, no doubt candles will be my choice... simple and efective stuff ¡¡ cheers Walter.

[BlowFish]

Not sure whether this a place to get into a long discussion on candles or not. Succinctly - my view is that the price action they represent is key. I think most candlestick proponents would agree. I have a hunch...whatever traders use MP&Market stats, Squiggly lines, Lines (S/R, Fibs channels etc.) etc. etc. The ones that do well have an intrinsic grasp of price action. Now whether candles bring that to life for you or not is a personal thing. My 2 cents

Cheers