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samuel23

Candlestick

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one tip about candlesticks, they are only to be used on possible swing high and lows,

if you see a candlesticks formation in the midle of a swing you should mostly discharge it,

because they are all reversal patterns and reversals allways comes at either a swing high or low.

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Hello... Do someone know how to read candlestick and brief me about it. Thanks

 

First, get a Japanese Candlestick book with lots of real price action charts and generic charts of candlestick patterns so that you can at least learn the price action definition of each pattern. Most books or website material is for definition (dictionary) purposes only and they do not teach you how to properly trade via Japanese Candlestick patterns.

 

Amazon.com: Japanese Candlestick

 

Next, understand that Japanese Candlestick Analysis was designed to work with (merged with) a primary trade method. Simply, they were not designed to be used alone (by themselves). Thus, do not use them alone. For example, some traders use Japanese Candlestick Analysis with support/resistance analysis. This, there's hundreds of different methods you can use Japanese Candlestick analysis with.

 

Last of all, I do not recommend using software or program codes of Japanese Candlestick patterns for trading purposes. I've discussed in detail about the problems of such here at Traderslaboratory in past topics about Japanese Candlesticks. Simply, this is a discretionary analysis. It can be coded but it will not be profitable as such due to the fact that you can not code/program market context that's needed to occur prior to the appearance of any candlestick patterns.

Edited by wrbtrader

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Last of all, I do not recommend using software or program codes of Japanese Candlestick patterns for trading purposes. I've discussed in detail about the problems of such here at Traderslaboratory in past topics about Japanese Candlesticks. Simply, this is a discretionary analysis. It can be coded but it will not be profitable as such due to the fact that you can not code/program market context that's needed to occur prior to the appearance of any candlestick patterns.

 

samual123, tis easy to convert context into automated strats

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samual123, tis easy to convert context into automated strats

 

It's impossible to do. Therefore, I'm 100% sure you and I have a different definition of "market context". You can read my prior definition on that specific topic in the past here at Traderslaboratory within the same thread about Japanese Candlestick Analysis that was started by a programmer of Japanese Candlesticks.

 

yeah, he finally realized it too.

 

Yet, no harm in trying to do it. Other than that, samual123 best to just stick with learning the definitions of candlestick patterns because his post did ask for a "brief" explanation. Any book can will do for such at Amazon or the local library book collection will do for such. I say that because most traders using Japanese Candlestick analysis can't even properly label the name of the pattern they're trying to trade. Therefore, if someone doesn't know the difference between a candlestick line versus candlestick pattern, hammer pattern in engulfing position versus hammer pattern in harami position...they ain't ready to trade it.

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...Last of all, I do not recommend using software or program codes of Japanese Candlestick patterns for trading purposes. I've discussed in detail about the problems of such here at Traderslaboratory in past topics about Japanese Candlesticks. Simply, this is a discretionary analysis. It can be coded but it will not be profitable as such due to the fact that you can not code/program market context that's needed to occur prior to the appearance of any candlestick patterns.

 

that is right. sometimes such softwares come up with very funny results.

since there are lots of instruments to watch and it is impossible to pay attention all the time, you want to use them not to miss opportunities...but check it carefully, manually before making any decisions

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that is right. sometimes such softwares come up with very funny results.

since there are lots of instruments to watch and it is impossible to pay attention all the time, you want to use them not to miss opportunities...but check it carefully, manually before making any decisions

 

Thats about right, the only such software I would recommend is the one Steve Nison made him self,

he says the same, don't trust any other softwares than his:2c:

he is the one who first brought Candlesticks to the western world so if any software could get the candles right, it would be his,

I think he only made it for Ninja trader and Tradestation.

and it cost loads of money. check out nisoncandlescanner.com

Edited by Trader1

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market_context=myCriteria;

 

if myCriteria=n then condition1=true else if myCriteria=nn then condition2=true;

 

 

It's impossible to do. Therefore, I'm 100% sure you and I have a different definition of "market context". You can read my prior definition on that specific topic in the past here at Traderslaboratory within the same thread about Japanese Candlestick Analysis that was started by a programmer of Japanese Candlesticks.

 

yeah, he finally realized it too.

 

Yet, no harm in trying to do it. Other than that, samual123 best to just stick with learning the definitions of candlestick patterns because his post did ask for a "brief" explanation. Any book can will do for such at Amazon or the local library book collection will do for such. I say that because most traders using Japanese Candlestick analysis can't even properly label the name of the pattern they're trying to trade. Therefore, if someone doesn't know the difference between a candlestick line versus candlestick pattern, hammer pattern in engulfing position versus hammer pattern in harami position...they ain't ready to trade it.

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I recommend everyone interested in obtaining outstanding results learn to program their own ideas. It's unreasonable to think you can purchase software that can resolve the issues everyone has (using purchased software).

 

Thats about right, the only such software I would recommend is the one Steve Nison made him self,

he says the same, don't trust any other softwares than his:2c:

he is the one who first brought Candlesticks to the western world so if any software could get the candles right, it would be his,

I think he only made it for Ninja trader and Tradestation.

and it cost loads of money. check out nisoncandlescanner.com

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market_context=myCriteria;

 

if myCriteria=n then condition1=true else if myCriteria=nn then condition2=true;

 

Like I said before, we have a difference of what is market context. :cool:

 

In addition, we have different perspective about what the thread start was asking about. I believe he asked for a "brief explanation" (e.g. image/chart examples of the patterns from any candlestick book - free at any local library) about candlestick patterns and a few gave him examples of such. In contrast, you seem to think he's asking about computer software, candlestick codes or programming information. :doh:

Edited by wrbtrader

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There's nothing mystical about context. Context is criteria.

 

I'm including a quote which indicates wrbtrader is the first coder who thought it was important to include discussion of candlestick code. Hopefully this clarifes the sequence of events and gives you a better understanding of what he's talking about.

 

I do not recommend using software or program codes of Japanese Candlestick patterns for trading purposes. I've discussed in detail about the problems of such here at Traderslaboratory in past topics about Japanese Candlesticks. Simply, this is a discretionary analysis. It can be coded but it will not be profitable as such due to the fact that you can not code/program market context that's needed to occur prior to the appearance of any candlestick patterns.

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There's nothing mystical about context. Context is criteria.

 

I'm including a quote which indicates wrbtrader is the first coder who thought it was important to include discussion of candlestick code. Hopefully this clarifes the sequence of events and gives you a better understanding of what he's talking about.

 

Maybe you do not understand. There's another thread for the discussions of market context (not started by me) involving trading via Japanese Candlestick patterns. Simply, if the thread starter samuel23 wants to go beyond the "brief explanation" of dictionary terms he asked for here in the "Beginners Forum"...he should use the search menu or go to the "The Candlesctick Forum" where the discussions have been far beyond beginners stuff (e.g. market context involving candlestick patterns, coding/programming candlestick patterns).

 

Yet, you come along and want to debate the issue in this thread even though there are already existing in-depth discussions about "market context involving candlestick patterns" by programmers started by others elsewhere in their appropriate areas of the forum that I participated within (note - I was not the thread starter in those other threads).

 

On a side note, as someone else suggested to you in another thread, please stop trolling my message replies to others because this isn't the first time you done such in this manner nor do I expect it will be your last. I do not like trolls...just giving you an early heads up about such just in case you honestly didn't realize you were doing such. In addition, please stop addressing me in that condescending manner via quoting me under the facade you're having a conversation with someone else when that someone else is not even responding to you nor having a conversation with you.

 

We simply have difference of opinions about the definition and/or explanation of market context due to completely different approaches. You get the last word in now because you now clearly know my impression of your posting habits here at Traderslaboratory.

Edited by wrbtrader

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Samual123, I am aware your request includes the word brief. Brief summaries do not exclude salient detail. A specification that replies be brief does not authorize anyone to misrepresent truth regardless of whether wordy or succinct.

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a priori specification

 

1) automated entry exit

2) id=text_new(d,t,c"Reason_For_This_Trade");

3) dll popup window triggers macro express to capture, save and upload picture.

 

[srcsm] tisn't possible to record macro [/srcsm]

to upload charts to TradersLaboratory with realtime entry and exit reasons

so I recommend skipping 2 and 3

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wow... thanks a lot guys, i really appreciate your help as i did not know how to use it. I will check all the links and advice that you gave me and try to make the best of it. Thanks a million and if ever i need your help i will come back as i am really satisfied. :haha:

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