Many of you know about candlestick charting, of course. But really trading the candles, how many of you?This ancient rice trading method has been put into the investment community by the Steve Nielson and it's books.Basically, the idea of the candles is identify some visually evident patterns of trend change to put the probabilities on our side. The use of candle reversal signals combined with Stochastics, may give us 70% good signals. The probabilities will be further enhanced by the use of moving averages. A candlestick signal ( long or short) happening on a stock bouncing of a 50, 100 or 200 day moving average, with Stochastics oversold ( overbought on short plays) will be the best thing next to sure money.So, the proper scanning software to search for the proper sector strength ( weakness) and stocks showing the candlestick signal at the right place will give the astute investor a good edge to profit from the newly trend earlier and less riskier than traditional western chart methods.What was I thinking when I asked the fool to open a new board?Well, I'm looking for smart people who wants to be proficient with the candlesticks trading method. In the mid term I'd like to search for back-testing methods on several entry techniques. I get to respect a lot the people from the mechanical investing board. What would it be like to use the candlesticks as a timing filter to be used with the several mechanical screens? Will this improve returns on the screens?Will this method lower the risk?Is it worthwhile?Is it possible to better profit from option treading ?Can we find good weekly candle trading strategies?This is open to discussion and experience from you is welcomedNice Trading and investingFrancisco
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