Candlestick idea

[bettercrypto]

I’d like to bring here the topic I made in our local section. It might be basic for many, but I think it can still provide some knowledge to anyone here.

Or if someone has already created a similar topic, then I’ll just lock the thread. But if not, I’ll keep it open to everyone,
and hopefully it can still be of some help in one way or another. Thanks.

https://bitcointalk.org/index.php?topic=5559130.0

[justinlamode]

These are mere basic ideas that if you rely on them, it will be a matter of time before you blow your account. You can't just place a buy order whenever you see a doji printed on the chart, there are more important things to look such as the trend, the phase of the market,  fundamental news and others. Those candle stick patterns are only important when every other thing have aligned and they should never be used in isolation.

[Oshosondy]

If you have began to trade, you will see how these what you called signals are nothing but it will only mislead newbie traders. All these patterns can form but the case might later be opposite.

There are still more accurate ones than this with more candles included. I will prefer that one that this. Also some people draw patterns to analyze.

[Gozie51]

Candlestick formation depends on other things not exclusive to what it tells you at the moment. So you have to be able to understand the trend and the direction of the market to see if the candle that forms also aligns with it, if not then wait for the candle stick that is aligning with the trend. Again, the time frame that it appears is also important because the longer time frame that it appears, the possibility of it confirming the purpose of it appearance. Above all, don't depend on just candles and also use your SL in every trade because nothing is certain with trading. Stop loss help you to go back to trade if you lose that trade but if you open your trade, you will be surprised it may gradually burn out or you profit from that mistake but most times when you don't use SL or TP, you earn up losing. The market is up and down.

[Localhostspeed]

There are plenty of trades about trading tutorials like this one but the problem is that many of them are either not updated or achieved. Some images are not displaying again, so it's difficult to know which one is having good details and the ones without because there are no images and trading can't be explained without picture, it's will only stress the head of learner.

It will be more better if you explain those candles and what they are about, so people can contribute more.

[Zigabel]

I’d like to bring here the topic I made in our local section. It might be basic for many, but I think it can still provide some knowledge to anyone here.

Or if someone has already created a similar topic, then I’ll just lock the thread. But if not, I’ll keep it open to everyone,
and hopefully it can still be of some help in one way or another. Thanks.

https://bitcointalk.org/index.php?topic=5559130.0

These candlestick behavior sometimes has got disparity as this does not apply all the time but then most often it does happen and that is why most persons has considered it a thing but just know they have got some varying disparity and so when you encounter one of such situation you just understand that it is one of those peculiar situations and you can still count on this some other time but always apply that caution knowing that there are times you will get to experience them.

[Merit.s]

Just following mere candle sticks as a trader will land you into huge loss continuously because there are more to trading and understanding the candlestick to use them on when to open a position or close your position. There are some fundamental news that will thwart the candle stick pattern from repeating itself. Trading doesn't depend only on technical analysis.

Only trade with an amount of money that you can afford to lose as you practice to have more experience in trading. It's easy on paper but in reality it's the opposite.

[Stepstowealth]

I’d like to bring here the topic I made in our local section. It might be basic for many, but I think it can still provide some knowledge to anyone here.

Or if someone has already created a similar topic, then I’ll just lock the thread. But if not, I’ll keep it open to everyone,
and hopefully it can still be of some help in one way or another. Thanks.

https://bitcointalk.org/index.php?topic=5559130.0

Studying candlesticks alone will not make you a successful trader. If you even ask and make inquiry from some successful traders you'll find out that they have no idea about the names of different candlesticks, only a few that usually reoccur like the "W" and "M" pattern.

If you intend and plan success in trading, you need to study more than just the name of candlesticks.

[Alphakilo]

I’d like to bring here the topic I made in our local section. It might be basic for many, but I think it can still provide some knowledge to anyone here.

Or if someone has already created a similar topic, then I’ll just lock the thread. But if not, I’ll keep it open to everyone,
and hopefully it can still be of some help in one way or another. Thanks.

https://bitcointalk.org/index.php?topic=5559130.0

The most important takeaway point about this candlestick charts is that they are the fastest way to mentally visualize  market psychology and how it speaks about  the buyers and sellers interactions with very simple and understandable single and easy-to-read price bar. Newbies to trading would find it very helpful as much as the oldies would.

It is just one of the other ways a trader can gain an advantage during trading activities and am sure one has to remember to pay rapt attention to the market movement before using the candle stick approach during trading at any time or hours of the day.