Candlesticks Vol 3 – Candle Development
http://www.YourTradingCoach.com Candlestick Charting – Vol 3 – Candle Development
25 Responses to “Candlesticks Vol 3 – Candle Development”
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@lamiakota i am investing in precious metals,that’s where you should be,physical metals.forget about daytrading,now.it is too much risk and with gold and silver there is no chance at all to go wrong.it will go up.trust me.the dollar will collapse,soon.
@masterpatric07 I tried daytrading in the long run it just does not work. I switched to swing trading by using daily candles. I recently found a good read on the “bullish Engulfing pattern” and its gap variation.
you may find at amazon.com/dp/B005F50IZW (kindle version) (look for the monkey)
@masterpatric07
Hi masterpatric07,
Communications via email or my site will be much easier, due to YouTube 500 character limit.
As I said, there are so many factors. I can’t suggest the right risk limit for you. For me… 1% MAX risk per trade sequence. I think 2% is too much for most people. Best of luck in the live market. It’s a whole different game, but if you’ve been consistently profitable over your year of sim trading then you’ve set yourself up with a good start.
I made a daytrading course and i passed a year doing entries, paper trading and simulator.I believe I am ready but 1 tick below is not real most of the time ,that is why I want to see your opinion on that topic because there are many authors who disagree with that 1 or 2% according to risk.
i do not believe that 95% percent bs. If you have money management in a year you should be profitable.I talked with a lot of daytraders and all make money.I believe is to prevent people to start daytrading there is an aversion to daytrading cause many believe it is not real.but i believe they are scared to deal with daily risk.
@masterpatric07
Depends on so many factors – strategy, risk tolerance, financial situation etc etc et. And of course on whether you want to survive or not.
If not consistently profitable, then chances are you never will be (95% don’t ever make it), so minimise risk as MUCH as possible while you learn to trade. It’s about learning, not making money.
Cheers,
Lance
YourTradingCoach
Hi, I have a question not regarding the japanese candlestick .it is about risk, which is ussualy your calculated risk , i read people 2 percent and some 1 percent, but i need your vision of that statement.
@alladarwish2424
Hi alladarwish2424,
Candle development is something that just takes a little practice. The best way to get it is to open up a chart, find a reversal pattern, and then change to a lower timeframe. Change back and forth a few times to see how the pattern changes. You’ll get it pretty quickly.
Cheers,
Lance.
candle development is so hard!
old video, GREAT information!
@Jackdave72
Hi Jackdave 72,
Thanks for your feedback. I’m glad you’re getting value out of the candlestick trading vids.
All the best,
Lance Beggs
Great video, very clear, concise, and precise. Thank you. You are an excellent teacher.
@audiochem
Thanks for your great feedback on the candlestick vids. Much appreciated.
Happy trading,
Lance
Excellent explanations, extremely easy to understand. I was looking for a video like this for awhile and now I`ve found it. Top notch professor. Thanks a lot!
Hi Blor007,
Wow. Awesome feedback. Thanks very much. I’m glad you enjoyed the candlestick videos.
All the best with your trading,
Lance.
To learn, read. To know, write. To master, teach!
You are clearly a master
Very very very good explanation!
Thanks Daniel,
I’m glad you like the videos.
Happy trading,
Lance.
you are an excellent professor
Hi Steve,
I don’t have any videos on volume yet. The majority of my background has been in forex, which does not provide reliable volume data, so volume has historically played no part in my trading.
However now that I am trading futures more than forex, it’s a tool I’m starting to warm to. If it ever does become a key feature of my trading, I’ll be sure to do a video.
Cheers,
Lance
Hi Lance. Do you have any videos on volume ?
Thanks, Steve.
Hi graduatefast,
Thanks a lot for your comment. I’m glad you’ve found value in the candlestick video series.
Cheers,
Lance.
Brilliant. Really appreciate you making these videos. Learnt a valuable amount in a small amount of time.
Hi LiptonGuy,
Candles are simply a different way to represent the same data that exists on standard bar charts – open, high, low and close. So, they can be used on any instrument and timeframe. The reversal patterns however only apply when the intra-day timeframe contains sufficient liquidity and volume to ensure smooth price flow. If it jumps all over the place due to an illiquid market, you’ll have a lot harder time making use of the patterns.
Cheers,
Lance.
Does anybody know if Candlestick Patterns – are commonly used by stock market TRADERS on an intra-day basis ?
Sure, many traders probably look at candlesticks – on the daily and monthly charts.
But do TRADERS pay attention to candlesticks – on the 1-minute or 5-minute chart and make trading decisions, based on candlesticks that were just created, minutes ago ?
- Thanks
Hey hmt44,
Glad you liked the video. Thanks for the feedback.
Cheers,
Lance.