HawkTrader
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Watch all of Lance Begs videos on Candlesticks. There are about 12 volumes or something, you can see the first here on his website.
Candlesticks Vol 1 - Candle Design | Videos-Technical-Analysis
It's free, and he's got loads of other videos worth checking out too. This is where I based my education on trading!!
Candlesticks Vol 1 - Candle Design | Videos-Technical-Analysis
It's free, and he's got loads of other videos worth checking out too. This is where I based my education on trading!!
rathcoole_exile
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don't.
don't bother.
if you think about things in depth, you don't even need a chart with which to trade successfully (think pit traders for example).
so why should some magical re-representation of price give you a winning edge ?
james111h
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Many, many thanks, Hawk Trader, for directing me to yourtradingcoach.com What a great opportunity to learn! --george
HawkTrader
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No problem at all George. Sign up with his newsletters too! You can view his previous newsletters under the "Articles" section on the left of his website. He has also done articles here on T2W.
Sometimes if I am going through a bad run of trades, I come back to his website and watch his videos. I feel enlightened at the end... love his accent too! :cheesy:
Sometimes if I am going through a bad run of trades, I come back to his website and watch his videos. I feel enlightened at the end... love his accent too! :cheesy:
r_e, your comment stopped me in my tracks - no where to turn. Please advise.
Thanks, --george
HawkTrader
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George, he is talking about the BIG picture. Of course "in theory" nobody needs charts. But might as well use them since they do help! Nobody needs these forums, but you can find some good stuff here sometimes! Why not use it?
Actually, I think if you are looking over long term, like years, you don't need candlesticks. A line closing chart is all you need. But shorter term, like daily, hourly (even 5 minutes) etc, candlesticks can give you a looooooot more info than just a closing chart! For example, if a stock was creeping up to a massive resistence level, and then hits it, and falls back down and closes there. All you would see on a line chart is that the price hasn't reached that level yet, when it indeed has! (Of course, it depends on the timeframe). But on the candlestick chart, you'd see the price rise up to the level, get rejected, and fall back down to close, a good sign to short!!
So you see, it can help, but nobody is saying that they are another holy grail. Also, be carefull when learning new candlestick patterns like the "hammer" and stuff. It all looks different on another time frame. It's what the PRICE is doing, not what some fancy cool exotic price represention is showing you. That's what I think Rathcoole_exile is right about.
Actually, I think if you are looking over long term, like years, you don't need candlesticks. A line closing chart is all you need. But shorter term, like daily, hourly (even 5 minutes) etc, candlesticks can give you a looooooot more info than just a closing chart! For example, if a stock was creeping up to a massive resistence level, and then hits it, and falls back down and closes there. All you would see on a line chart is that the price hasn't reached that level yet, when it indeed has! (Of course, it depends on the timeframe). But on the candlestick chart, you'd see the price rise up to the level, get rejected, and fall back down to close, a good sign to short!!
So you see, it can help, but nobody is saying that they are another holy grail. Also, be carefull when learning new candlestick patterns like the "hammer" and stuff. It all looks different on another time frame. It's what the PRICE is doing, not what some fancy cool exotic price represention is showing you. That's what I think Rathcoole_exile is right about.
cool reply, HawkTrader, I see what you mean regarding R_e's enigmatic reply.
thanks, --george
B
Black Swan
Good site that, always good to find a heart on sleeve/no holds barred free site on the web.
HawkTrader
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Yep, that just makes me love it even more!
