Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

nameeta26

How do I interpret candle stick chart in stock market?

Recommended Posts

I wouldn't spend a lot of times on it if I where you, the reason is that these candlesticks patterns are not working as good as they used to, this is what I have noticed over the years, and the reason for that probably are the algos, they don't seem to respect these patterns at all, and very often push price beyond them, they do work some times though,  but it's nothing you should trade by them self, only use them as confluence and other things in your trading,if you want to learn about them, try to learn from Steve Nison him self, he was the guy bringing this method from Asia. and obviously he has the bests and most accurate knowledge about them, I have seen some free vids on Youtube if Im not misstaken.

Share this post


Link to post
Share on other sites
On 8/17/2018 at 10:03 PM, Trader1 said:

I wouldn't spend a lot of times on it if I where you, the reason is that these candlesticks patterns are not working as good as they used to, this is what I have noticed over the years, and the reason for that probably are the algos, they don't seem to respect these patterns at all, and very often push price beyond them, they do work some times though,  but it's nothing you should trade by them self, only use them as confluence and other things in your trading,if you want to learn about them, try to learn from Steve Nison him self, he was the guy bringing this method from Asia. and obviously he has the bests and most accurate knowledge about them, I have seen some free vids on Youtube if Im not misstaken.

Trader1,  that’s pretty good advice - in large part because even the traditionally 'most reliable' candlestick patterns NEVER backtested well on their own (pre OR post algos' ascendancy).

Also, it goes beyond  "use them as confluence and other things".  Traders need to learn how to establish context level  signals first, then learn how to look in those contexts for candlestick (or whatever) chart patterns as triggers.  Most, of course,  think that just learning the patterns in the 'book' ( Nison in this case ) will suffice... they either assume context doesn't matter or they assume 'context' will come automatically if they just study the 'patterns' well enough ...   ie they 'train' conventionally... in the wrong order of precedence (... which may be sufficient in production, service, or even management work - but, in performance work, damages noobs' chances of success ... order of precedence training errors keep them in that lower 78% pareto 'forever'... 

...many won't even get what i'm talking about... another 'many' fall under  the 'voice of trading' narrative trance which programs the opposite... noob, if you do get what i'm sayin' - ignore the crowds, 'pay the price' of really learning context first ... and up your chances of making it in trading ... )

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.