Candlesticks Vol 3 - Candle Development

http://www.YourTradingCoach.com Candlestick Charting - Vol 3 - Candle Development

Category:

Howto & Style

Tags:

• trading
• candlestick
• charts
• charting
• technical
• analysis
• markets
• emini
• forex
• futures
• stock

[masterpatric07]

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.

[YourTradingCoach]

@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.

[masterpatric07]

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.

[YourTradingCoach]

@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

[alladarwish2424]

candle development is so hard!

[YourTradingCoach]

@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.

[Blor007]

To learn, read. To know, write. To master, teach!

You are clearly a master :)

Very very very good explanation!

[GaryFrankLewis]

Hi,

I found this software that find patterns and notify you in real time.

It seems very cool.

They look at 89 diferent patterns, in 1,2,3,5,10,15,30 and 60 minutes time frame, and if a pattern occurs they notify you in Real Time.

I Download it in (inforex.pattern-watcher*com)

[masterpatric07]

@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.

[lamiakota]

@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]

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.