noob here...

im sure this question has been asked a million times but recently i have looked into steve nixon and applying the candlestick method of analysis on any market, particularly the forex markets i was just wondering how succesful people have become using this method and whether it is more profitable scalping or swing trading using this method, as this method seems to make alot of sense to me.

Happy trading!!!

singth said:

im sure this question has been asked a million times but recently i have looked into steve nixon and applying the candlestick method of analysis on any market, particularly the forex markets i was just wondering how succesful people have become using this method and whether it is more profitable scalping or swing trading using this method, as this method seems to make alot of sense to me.

Happy trading!!!

Click to expand...

I think what you need to do with Nison (note spelling) is to read and digest what he's saying fully. In particular what he's saying about the things the candles tell you about market psychology. But it's not a 'system' or a 'method' - you're not going to come out of reading his book having gleaned yet another 5 minute m.a. crossover RSI / MACD scalping strategy for total noobs. What you should gain is another way of thinking about pure price action. Or at least that's what I got out of it.

I first read Nison 12 years ago now. In the intervening time I'd say I could count on the fingers of one hand the times I've looked at a chart and thought 'ooh - look - three black crows'. But I still think there's a huge amount that is of merit in his writing.