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nameeta26

How do I interpret candle stick chart in stock market?

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I wouldn't spend a lot of times on it if I where you, the reason is that these candlesticks patterns are not working as good as they used to, this is what I have noticed over the years, and the reason for that probably are the algos, they don't seem to respect these patterns at all, and very often push price beyond them, they do work some times though,  but it's nothing you should trade by them self, only use them as confluence and other things in your trading,if you want to learn about them, try to learn from Steve Nison him self, he was the guy bringing this method from Asia. and obviously he has the bests and most accurate knowledge about them, I have seen some free vids on Youtube if Im not misstaken.

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On 8/17/2018 at 10:03 PM, Trader1 said:

I wouldn't spend a lot of times on it if I where you, the reason is that these candlesticks patterns are not working as good as they used to, this is what I have noticed over the years, and the reason for that probably are the algos, they don't seem to respect these patterns at all, and very often push price beyond them, they do work some times though,  but it's nothing you should trade by them self, only use them as confluence and other things in your trading,if you want to learn about them, try to learn from Steve Nison him self, he was the guy bringing this method from Asia. and obviously he has the bests and most accurate knowledge about them, I have seen some free vids on Youtube if Im not misstaken.

Trader1,  that’s pretty good advice - in large part because even the traditionally 'most reliable' candlestick patterns NEVER backtested well on their own (pre OR post algos' ascendancy).

Also, it goes beyond  "use them as confluence and other things".  Traders need to learn how to establish context level  signals first, then learn how to look in those contexts for candlestick (or whatever) chart patterns as triggers.  Most, of course,  think that just learning the patterns in the 'book' ( Nison in this case ) will suffice... they either assume context doesn't matter or they assume 'context' will come automatically if they just study the 'patterns' well enough ...   ie they 'train' conventionally... in the wrong order of precedence (... which may be sufficient in production, service, or even management work - but, in performance work, damages noobs' chances of success ... order of precedence training errors keep them in that lower 78% pareto 'forever'... 

...many won't even get what i'm talking about... another 'many' fall under  the 'voice of trading' narrative trance which programs the opposite... noob, if you do get what i'm sayin' - ignore the crowds, 'pay the price' of really learning context first ... and up your chances of making it in trading ... )

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Candle stick pattern is one of the easiest charting patterns available to learn and make money. However, new traders never learn about the skills needed for earning money but they rush for making money and eventually lose their money.

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