Ask The Experts Archive
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|scan formulas||I just started on this site yesterday and have reviewed the hangingman and hammer videos. I got the formulas for building scans for both of them. I just listened to steves nightly analysis and noticed that he call todays candle in the s&p a dogi. I went to the video and verified that it was close enough to be called a dogi and searched for the formula for creating the scan but didn't find one. Is there a place on the site where the scan formulas for all twelve signals are found.||go to resourses page, down left column to signal formulas for tcnet|
|Candle Sticks||Hello,I have seen a lot of information regarding how these candle sticks have a greater probability than another but I have not seen any data on the internet to actually support peoples claims. ThePatternSite.com has stated probabilities for each possible candle but I can not find any information on how to find out these probabilities myself. Can you help?Best regards,Vignas||hard to get actual data because of all the variables that can ba added to a visual. I have found them to be very accurate, nothing verifiable. The results have come from hundreds of years of rice trading observations|
|Research on price gap||Best,We writing our thesis on price gaps at the Stockholm School of Economics. We just have one simple question has there been any research conducted on price gaps/ windows previously?Thanks a lot for your time and help!!Eric Teder||Do not have any statistics on Gaps, but have training videos on how they are very effective for producting big price moves|
|e mini day trading||Hi, Can your methods be effectively used on the 1 hour charts of the emini? Would you be looking for a candlestick buy/sell signal in an oversold/overbought condition? Where would stochastics be set?||I used the 1 min., 3 min., and 10 minute chart combination to trade the e-minis. They will work on any time frame combination|
|small time frame||Hi, where may i find information related for trading small time frames 30,15,5 minWhat stochastics should I use? and related information.Thanks||I traded the 1 min., 3 min., 10 min. chart combination with stochastics at 12, three, three.|
|TIME FRAMES||HI, I WILL LIKE TO KNOW IF CANDLESTICK PATTERNS WORK WELL ALSO ON 15, 30 OR 5 MINUTES TIME FRAMES?thanks||
yes, I traded the e-mini's off 1 , 3, 10 min charts very successfully
|forex||hi, i am very interested on your candles program....i trade forex and i will like to know how this works in this market because we dont have gaps and you talk a lot about gaps,,,,do you carry something that fits forex markets?thanks||yes, the signals still work without gaps just as we see in the intraday charts|
|Books||I just finished reading the Profitable Candlestick Trading, Pinpointing..., cr 2011. Very good book. Is there a better book in your series? In the book there was a claim about making 10% per month. What backup is there to make such a claim?||
High Profit Candlestick patterns
A full time trade using Candlesticks should easily produce 10% /month, I did/can
|trading currencys||How much money can one put in as a biginner trader what what advise can be given to bigginners.||The amount of starting money is not important. Learn to trade correctly, then the money will issue can be better resolved|
|day trading||Hi, I really appreciate all that I am learning from you folks. Several quick questions about trading the emini on 3 minute charts. 1 Any resources available about adjusting how to read patterns since gaps are not usually a part of a 3 min chart as they are in the dailies, 2 in your book, many of the reversal patterns are trend changes rather than reversing a pullback/resuming a trend. These trend changes initially look like countertrend trades. Do you find them to be lower probability trades compared to sticking with trades with the trend? Ooops, stormy weather and losing power so I'd better hit send. Thank you. Brent||Read "High Profit Patterns"|
|Chart pattern||Does same chart analysis apply for metalgold and currency? Does particular chart analysis means something for metal and different for currency?||same charts for all trading entities, chart show human emotions|
|Take profit||I purchased your candlestick course for $12 which was really great BUT I seem to find the good entries but have NO clue when to close the order.Take profit I have been 80 pips up and then found the next day I have been stopped out at BE. I am trading forex and am trading daily charts. I have been trying to maximise my profits but seem to hold too long. Plase help||move to the ten minute charts|
|Candlestick||Hi,I'm interested in going to Japan for Candlestick lesson. I've heard from people that there is actually lesson conducted there by the decedent of Munehisa Homma, but i can't find it online. Do you have any idea of this. Thanks a lot!||no, and i am not sure going to Japan to learn candlesticks is really necessary, there is only a limited amount of information pertaining to candlesticks and is already available in the US.|
|T line definition||please address me to a discussion where the parameters of the T line used in the daily market review are specified and illustrated. Thank you||Look in the past newsletters, the T line is addressed quite often.|
|larry jacobstraders world offer?||how do i do this? thanks||E-mail Abraham@candlestickforum.com for getting set up|
|T _Line||What is 3 C T Line as referred to in mail by Mr. Stephen Bigalow ?||
|No charts with charts||Hi Bigalow,It seems none of your guests' presentations have included charts/pictures. All the ones I viewed were audios only. Thanks.Eddie||e-mail Abraham@candlestickforum.com he will get youn set up so you can see the video|
|RMOJeff Gibby||HiDue to time zone I received notice to late ofwebinarwould like to see Jeff Gibby on RMO but can not find recording on your site,can you help please.||Sorry you missed the live presentation. Recorded sessions are generally on our site by the next morning under Stock Chat|
|Short Selling||Is there any indicator that tells of the amount of short selling that takes place on particular stocks?||
not an indicator, but there is a website you can go to that will give you that information. www.Finviz.com
|Using candlesticks for spread trading||Mr B I notice that you do not talk much about using candlesticks for spread trading. How usefull are candlesticks for spread trading and have you created any teaching materials around using candlesticks for spread trading?||Yes, the majority of our option trade are bullish or bearish spreads. Check our video trading area for the difference option strategies.|
|Yellow Box around candelsticks||What does the yellow box around the candlesticks mean.Stock dndn.Thanks||It is just highlighting where the signal is|
|Bullish engulfing scanner||Hello, Please do you know if TC2000 scanner works with forex. Thanks||No, tc IS JUST FOR STOCKS|
|FIBONACCI RETRACEMENT||KINDLY UPDATE A DETAILED STUDY OF FIBONACCI RETRACEMENT AND EXTENSIONS WITH CHARTS THANX||what study?|
|pattern recongnition software||Hi I just wondered how you go about analysing hundreds of stocks / indices for candlestick pattern opportunities. Is there any decent software out there that helps to scan markets and recognise patterns that you recommend giving us at least a starting point. I see S.Nison does something in conjunction with ninja trader but wasn't sure if you recommended and alternative.Also do you believe that candle patterns are most effective on the longer time frames e.g day to a month? Many thanks in advance.Daniel||tcnET , wORDEN bROTHERS HAVE A VERY GOOD scanning software. They work as well on a one minute chart as they do on a daily or monthly|
|TC2000 vs. Telechart 2007||Which program do you prefer, TC2000 or Telechart 2007? The lady at Worden said the only difference is that Telechart 2007 searches farther back in time.||
2007 IS THE CORRECT ONE TO USE
|Day Trading the /SI||I use 1 min. charts, it moves fast at times. Hard sometimes to get a good entry from signal. Trading 1 contract. Any suggestions?31BF3813||Use a 5 minute chart, more indicative of the trend move|
|stock scan||Hi i am looking for a software of system that can scan stocks for me and tell me what and when to buy and when to sell , is there such a system ?||TCNET, on our home page , is excellent for identifying the signals|
|new in the market||want to try in market for the first time wat shouldi do??||read Profitable candlestick trading|
|Candlestick/other indicators||I am using spread bet for training Indeces and stocks. I use candlesticks ,averages and I would like to know what other indicators should i use to confirm the candlesticks patterns. My time frame of trading is one4 days to 34 weeks period.||Use stochastics for your over bought an oversold indication. Use the moving averages for your support and resistance targets. Use the eight exponential moving average, the T line, to show that a trend is still in progress.|
|query on belt hold pattern||theres a long bearish candle stick at the top of an uptrend whose OHLC are 5161.3,5163.75,5046.8 and 5059.45.Previous days was abullish stick at the top of a trend with OHLC 5139.2,5169.25,5098.25and 5153.25. Since there's a tiny wick at the top of the bearish stick and with the given figures, is it still considered a bearish belt hold and what is the point the pattern will be considered broken? ThanxPraveen||Small wicks at the end of a belt hold do not mean all that much. The fact that the price gapped away from the current trading range and then came back into that trading range is important factor.|
|correct candlesick word pronunciation||Has anyone created a DVD recording of the correct pronunciation of the candlestick words, Doji, Harami, ect.||No, but I am currently practicing saying Harami correctly.|
|Stop/Loss and Take Profit||Is there any % or criteria to be taken into consideration while placing a Stop/Loss and Take Profit. As not sure and most of the times the Stop/Loss triggers instead of Take Profit.||There is no percentage criteria for placing stop losses with candlestick analysis. The market does not care where you bought a position. However, the charts will indicate what level would have to be breached to reveal the sellers were in control. On some charts this may be 3/10 of a percent, on other charts it might be a 12%, all depending on the volatility.|
|Scanning for Candlesticks on Moving Averages||Can you recommend a provider of a real time scanning package that can identify candlestick patterns that are sitting on moving averages? Several I have tried claim the have this capability, but in practice they can't even reliably identify a perfect Doji.Many thanks!||TCnet, worden bros. has that capability, go to their icon on our home page, that will explain.|
|major signal educational package||DEARý really and urgent need your major signal educational package but ý have no visa card pls tell me how can I send 12 usdkindest regardsserapAlso ý participete in your candle stick webinar and certainly want to participatite in moving average webinar/you were great or video please tell me what should ý do||E-mail Abraham@candlestickforum.com , he will help you|
|Fry pan bottom in Silver?||Hello,I'd like to ask, if you think that since May has Silver been forming a fry pan bottom? If so could you please estimate a price target for it? And lastly, has the pattern been confirmed or broken out?Thank you,Noam||
Unfortunately, I cannot answer time-sensitive trading questions via email, or through the Ask Experts area. Sorry, but it wouldn't be realistic to even try to get through the number of trading inquiries.
I'm happy to review specific trades in the Live Trading Room during the day, or in the Monday evening Stock Chat sessions.
Additionally, I take this type of question in the Public Stock Chat on Thursday evenings. We allow ample time for Q & A and I do my best to stay on until we get through everyone's questions.
|almost a Tweezer Bottom||Mr. Bigalow, in late Jun with had a classic tweezer bottom with a long white candle on the 2nd day. Today we have shaved head bottom/inverted hammers basically but with tails and NO closing near the high of the day. Any chance we can salvage this 2 day event?Aloha, Roy Szanik||
Unfortunately, I cannot answer time-sensitive trading questions via email, or through the Ask Experts area. Sorry, but it wouldn't be realistic to even try to get through the number of trading inquiries.
I'm happy to review specific trades in the Live Trading Room during the day, or in the Monday evening Stock Chat sessions.
Additionally, I take this type of question in the Public Stock Chat on Thursday evenings. We allow ample time for Q & A and I do my best to stay on until we get through everyone's questions.
|Buying if stock opens positive tomorrow||Steve advises that the stock can be bought on positive trading tomorrow.What exactly defines positive trading? Do you wait a certain amount of time, etc.Also, he will advise to buy if the stock opens positive in the morning.Do you wait a certain amount of time before jumping in? Often the first 15 minutes is just the influx of overnight orders and the market reverses course.Thanks, William||
Great questions! Unfortunately, the explanation isn't easily answered in a few sentences. This is the type of information I cover on the Thursday evening public Stock Chat sessions. We allow an ample amount of time for questions exactly like this.
|different types of candle||can you discuss different type of candle.?||do not understand the question, our website has multiple pages describing each of the signals.|
|tc2000 kicker signals||does tc2000 recognize kicker signals using the wider more liberal definition as given in High profit candlestick patterns?||
Yes, very easy scan to identify Kicker signals on TCNet
|Stock targets on HOG||6/6/2011 the stock HOG gaped up on a UBS upgrade and then formed a gravestone dogi by day end. The general market has broadly fallen the last 4 days and could keep falling, can this stock still move higher with its own relative stength? I had a intraday target of 39 of HOG on 06/06/11. If the next trading day of 06/07/11 closes above the 06/06/11 close, is this bullish? Thank you.||We go over specific trades in the members live trading room, and in the Public Stock Chat on Thursday evenings. Unfortunately, we cannot answer specific trading questions via email, or The Ask Experts area. Sorry, there would be too many emails to physically manage.|
|Tina Logan chat||I thought Tina's last night chat was supposed to be posted...I'm not finding it...tu||Tina's chat session is up now; Swing-ending Warnings with Tina Logan of Traders Roadmap|
|Stochastics||I have your new book Candlestick Profits and have a question about Stochastics settingsPage 114. My chart has four numbers while you have only three. My four are 1.%D Fast Period 2. %D Slow Period 3. %K Period 4. %K Slow.Your 12,3,3 which of the four do they pertain to?Thank you. Len Piggin||I don't know, try different numbers until the ema's look the same as on our charts|
|Tee line meaning||Just started reading Japanese Candlestci. The term Tee Line was referenced and I have not been able to determine the meaning||The t-line is the 8 exponential moving average|
|patten name||Hi , please can you tell me wot other names there are for a patten called the dead cat bounce & wot it looks like .thanks roy.||
It is not a pattern, just an expression that explains a fast down move followed by new buying
|Candlestick Patterns||What if there is no pattern? Don't trade wait for a pattern or go your own way via Yin or Yang trend?||A apattern just enhances the evaluation of an upside potential. If no pattern is present, a single may still be the predominant factor.|
|Formula for candlestick||I was wondering if you would know of any URL or resource that I can refer to get the formulas for screening candlestick charts.What i intend to do is to make a software that will take the candlestick data numbers close, open, low, high for each day and notify the user of any possible patterns created based on data for the day or the previous days.any help would be so much appreciated,Warmest regards,Ami Mo||Yes, there are many personal criteria formuals for candlestick signal scans available through our Free Resources Category. They work with TC2000 and in their recent 2011Version update.|
|shorting||Things this question is NOT about:1. The basic definition of shorting. I know and understand full well what that is.2. NAKED shorting. I also know and understand full well what that is. The concept of the short sale in the stock market has been implemented for a very long time, longer than my 40 years of investment experience. More recently it has been occurring to people to challenge the concept of the naked short sell, which to most, looks like counterfeiting any way you look at it. The standard short sale, however, has come under less critical comment. I myself have, in all the years I have been investing, never questioned it I simply accepted it as a well established way of making stock transactions. Until about two days ago. For some reason, I decided to question my assumptions, and everyone else's and think it through, from the point of view of whether it OUGHT to be legal or not. The following questions obtain from my thoughts on this:1. The borrowing: when the person wishing to short a stock borrows some shares, he is doing several rather curious things, especially in todays' electronic markets:a he is borrowing something of financial value without paying any interest. Almost all other loan contracts incur interest.b he is borrowing someone's shares without any permission from the current owner. In fact they are borrowed on the borrower's behalf by a broker, effectively. Under any other circumstances this borrowing without permission would almost certainly fall into the category of theft. At this point there are already two parties involved in the borrowing but not the owner of the property. To anticipate any objections here, we'll acknowledge that the borrower agrees he is supposed to return the shares borrowed at some time.But let's notice one other thing before we move to the sale/purchase phase. The original owner of the shares has been put at financial risk, without being aware of it, without consent, and without compensation. Very curious.2. The Sale. Now the borrower sells the shares to a fourth party. There are already 3 parties prior to this point: the owner, the broker, the borrower. The fourth party now buys the shares or thinks he is buying them also without being aware they are legally owned by someone else. This of itself seems a little odd, when we think about it. He therefore imagines the he and only he has claim on these shares, when in fact there are two claims on these shares, since the original owner still imagines he owns them.Since the original shares are on the original owner's books, his accounts shows he owns that amount of shares. But now the buyer of those borrowed shares also shows the same amount on his books. At this point it is very clear that the shares issued by the company's corporate treaasury have been duplicately sold without the consent of the corporate treaasury, a fifth party to all this who, imagines that it alone, has the right to issue new shares. Strictly speaking, we might try to argue that no new shares have been created as they are in naked short selling, but, rather, there is only the issue of duplicate claims on some of the shares. When it comes time to pay dividends however, this point seems less distinct.One of the objections to the practice of naked shorting is the problem of dividend payments in naked shorting the industry has adopted a practice of paying a dividend on the counterfeit shares, a small price to pay for counterfeiting. In the case of standard shorting I have never heard any explanation as to how this would work. There are now two claims on the same shares, both expecting to be paid a dividend. It appears that the only reason no one objects to all these problems is because a that's the way we've always done it and b the shares in a public corporation are seen as a pool which has enough liquidity and float to permit these shenanigans without it upsetting the system much. It might be noted that shoplifting works much the same way. Retailers accept a certain percentage of it as inevitable. If, however, the entire population reverts to it, the whole system comes unravelled. So my question is thus: if we want to have a criteria for deciding whether a practice should be condoned or not, wouldn't it be better to have as a test question: What would happen if everyone did it?||everybody will not do it, it is just one small component of the total market thinking|
|TLine Indicator||What exactly is a tline indicator and what do you set it on 5 day, 10, 20, 50, etc? Thanks||t-line is the 8 EMA|
|Earnings||First earning season upon us that I am using candlesticks will sticks indicate before earning report so I can get on before they are announced? Or do I have to wait and see how sticks react after?||candlesticks are formed based upon the decisions made before the earnings based upon what the people in the know anticipate will occur in the earnings|
|commoditi||tell about crude||in trend channel, sideways for a while|
|position sizing||Do you recommend a particular method for position sizing? I have been using a method based on my stop loss order such that if all six of my positions stopped out I would loose no more than 3% of my total account. Thanks, Howard||I use equal dollar amounts for each position, that way there is no emotional attachment to any position. Stops are placed based upon where a price should not move to if the trend is still in progress|
|Over bought & oversold Stochastics||I see from your videos that you use the fast SK line of Stochastics to determine whether the market is overbought or oversold.Yet by moving my cursor in the TC 2000 software, I see in the data box that the program uses the slow SD line. Does'nt this cause a conflict? This means that many of your video examples would have been overlooked by actual scans because while the SK line made it into extended territory, the SD line didn't.Thanks,Ed||The stochastics are just to give an indication where a price is in its trend. Don't get over specific on the actual location. A candlestick buy signal is relevant when the stochastics are in the oversold area, whether both lines or just one line is that that level.|
|credit card charge||Hi, I was charged $1.87 on my cc but I haven't received anything to date when should I receive the information?Its now week or so gone by.Thank you||Yes you should have gotten instructions by now|
|QCOM||I am just getting into investing and don't have a tone of money. I was told years ago to invest in QCOM. I notice in the charts that the ask price goes down the most in July. All of the reports tell me now is a good time to buy. Should I wait til July or would investing now be the right way to go? and why?||That is what the purpose of the candlestick charts are for. It allows you to see when the selling had stopped and the buying has come back into the trend.|
|Charts||I trade commodities and stocks. The broker companies provide pretty lousy charts and tools to analyze price action and direction. When I watch Steve on his webinars, I like the capabilities he has to manipulate the charts and the clarity of the candlesticks. Can you steer me in the right direction?||Those charts are CQG, unfortunately $940 per month. Click on our link for tcnet, good charts and great scan capabilities|
|Elliot 5 Waves vs Steve's 3 waves?||Elliot Wave has 15 abc waves vs Steve's 3 waves.How does Steve's 3 waves compare?||If you are a swing trader or a short-term investor, you are only concerned with the next price move. More than likely ones buying the next wave of a stock or commodity, you will be looking for a sell signal for that wave and then probably moving on to another trade somewhere else.|
|50 EMA||If I am making my trades using the Tline 8 EMA and candlesticks as my criteria should I be concerned as to whether the 50 EMA is rising or not?||Not really, obviously there will be times when a reversal occurs below the 50 day moving average. On short term trading, the T line is much more effective.|
|Overnight Trades||Hello, & thanks for your time! I'm seeking your expert advice.I'm seeking high probability overnight trades. Buying w/i 1 hour of the close & closing out the next morning after watching it's movement.I've tried Earning plays overnight & won't be doing that anymore. lolThank you kindly. Lee,||Use the 10 min. charts. If you see a fry pan bottom or a J hook pattern setting up going into the close, it will greatly improve your odds that the buying will continue after hours and on the morning trading.|
|Long Candle Trade||Are there specific strategies for trading after a long candle has occurred? I assume there is a good chance for reversal and possible good time to enter order on the opposite side of candle direction but wondering if this is a high probability trade or what the best entry strategy may be ... thanks||
Yes, a long legged Doji represents more indecision than a normal sized Doji. The bigger the candlestick reversal signal, the more compelling the prospect that there has been a change of investor sentiment.
|ICE 1st Line Swaps||ICE lists both swap and 1st Line Swap products. What is the difference?||sorry, do not know|
|gold||can you provide daily gold levles buy and sel position. or any othe trading which is confirmed profit.||I do commentary on gold , silver and other commodities during the monday night and thursday sessions|
|Day/Swing Trading ETFs||I am new to trading and because of an employment situation, I am limited to actively trading ETFs. I have found it very challenging to say the least in doing so in this market over the past several months. Do you have any reference material or can you direct me on how to trade this market using ETFs. I would be doing this in a cash trading account.||The signals were just as effectively on ETF's as they do stock or indexes. You might consider swing instead of date trading.|
|SELL/BUY||Am trading forex say USD/GBP. When should I sell and when should I buy?||The candlestick signals work as effectively on Forex trades as they do anything else. I am not an advocate of Forex trading when it is much easier and more comfortable trading each currency individually.|
|Forex trading||I am currently practicing forex trading in some platform. Assuming Iam trading the USD/GBP, Which candle stick signals will I use to sell? Which ones do I use to buy?||Trade the currency is out right, it'll be a lot easier a lot more profitable.|
|Forward Selling Contracts||We are a minning co and interested in forward selling one of our metals and was wondering if there is a standard contract that is avaialble||yes, most metals have contracts that trade on the commodity exchanges. each contract will show how many tons that contract controls.|
|What are the candlesticks implying sell signal ?||What are the candlesticks implying potential sell signal ? I know the shooting star candle is one of them. What about the others ?||Bearish Harami, Bearish Engulfing, Doji in over bought area, Dark Cloud|
|Daily Market Comments||Daily Stock Market Comments by Mr.Bigalow. Does it post every day ? I only see some of days in a month on the web site.||
it varies, sometime he post them sometimes he does not. On the members area, he does them everyday twice a day. Right now we have a special of 3 months membership for the price of $171, that is $57 a month. Would you be intrested in this?
|Moving averages||Most used averages on candle stick charting. what is the T line average?Thanks Dwight||
200, 50, and 20 Ma's are simple
The T-line is the 8 EMA
|Buy Stop Order||When you recommend a buy stop order in all of your publications, do you mean stop market or? i am a novice and need this clarificationthanks in advanceMoshe||Yes, a regular stop order means when that price is hit, it immediately turns the order into a market order.|
|Indicator||I would like to have a technical indicator question.I set up a chart w/ MACD, Stochastic, EMA,RSI, Trix.my question is how can we recognize the trend keep going up ? , as we see the overbought, Stochastic high more 80 and Trix high ..... and stock up.b/c we will go short at that time but stock still keep going up. Thank for your answer .||Just because the stochastics indicate a prices overbought, that does not necessarily mean it will not continue for many weeks or months in an uptrend. We use what we call the tee line, the eight exponential moving average. A trend will reverse after we see a candlestick sell signal and a close below the tee line.|
|Question about High and Lows||Is it possible to modify a candlestick to show what comes first in the bar, it's High or it's low?Sometimes a candlestick will have a large upper shadow and large lower shadow like in a doji or spinning top. It would be nice to know what came first in the formation of the bar, it's high or it's low. Say it's high came first in it's formation, if the upper shadow was somehow highlighted to show it formed first, we would then know the last half or so of the candlestick's life was hovering around it's low. Of course we could look at a lower timeframe chart and this would tell us that answer. But, it would be really nice just to see it on the candlestick itself. Is this possible? Just showing a down bar or up bar doesn't always show us what came first, the high or the low.||you said the solution, look at the shorter term charts, that will tell you when the price was moving|
|applicable time frame||G. Morris states that anything over five days in a daily chart? is coincidental and random in his preface in his 2006 book.Others claim that candlesticks can be applied in any time frame, day, weekly, etc.Are these 2 claims just difference in opinions?Thanks.||Yes, Greg is a good friend of mine. The validity of the candles can be analyzed as a continue process. So the longer the time frame, it can still be broken down into smaller time segments|
|Left right combination||Is there a PCF formula for the left right combination that Steve talks about routinely? If so, would you email it to me, please?||will have one done up in the chatroom. then send it to you|
|technical comments||Please define a Tline or direct me to an article on your site that describes it.||The t-line is the 8 exponential moving.|
|confused about hammer and hanging man||I'm confused about the hammer and hanging man candlesticks. Am I correct in my understanding that hammers are found at the bottom of a downtrend? And that hanging man is found at the top of an uptrend? Are hammers and hanging man the same color? I have seen them the same color and different colors, and that confuses me.Which one hammer or hanging man has the body at the top and the shadow at the bottom? When is this pattern black or white?Which one hammer or hanging man has the body at the bottom and the shadow at the top? When is this pattern black or white.Please advise. Thanks so much!!!||
We illustrate and go into greater detail on the Hammer Signal and the hanging man in our Free Resources category. This pattern at the bottom of a down trend is called a Hammer. This pattern at the top of an uptrend is called a Hanging-Man.
The color difference is based upon the opening and closing prices. The color of the body is not important although a black body has slightly more Bearish indications and a white body has slightly more Bullish indications.
Additional details are available for the hammer and hanging man are located under How to trade the hammer and hanging man.
|Trade confirmation with candles plus moving averag||Hi, I'm just curious what you think is the best time to place a long trade? In my experience it seems like trading with an uptrend, buying after a pullback with a candle reversal pattern then confirmation above 8 exponential moving average all opposite to short in downtrend. Is that essentially the trading philosophy you teach?||yes, watch the Thursday night sessions or the Monday night member session to get a better clarification|
|MACD parameters for Forex||what MACD parameters should I use for trading Forex in the 1min 5min 15min and 30min time frames? Thank you in advance!!! Mark||
I would not use MACD it is a lagging indicator
I use 12,3,3 on the stochastics
|Annuities||I've heard that if the bond market were to get hit hard, people with annuities are at risk of losing lots of their money because life insurance companies are highly exposed to long term bonds. I know that Executive Life Insurance Company failed in 1991. My question is if hypothetically someone's annuity portfolio is only allocated in cash, can they still get hammered if the annuity company fails? If a life insurance company fails, do annuitants only recover a percentage of their contracts, REGARDLESS of where their account was allocated bonds, cash, stocks?||I would imagine most insurance companies have their bond portfolios hedged to prevent any major losses. As far as an insurance company failing, I would not know the answers to the specifics.|
|a good scan for kicker signal||Please email a scan that is better than the one in your kicker signal CD.Thanks!||That scan should work reasonably well. However, it is not unusual that you have 20 candidates from the scan but none of them are really kicker signal's. To look through the 20 candidates should only take 45 seconds at most. True Kicker signal's do not occur very often.|
|how much to start||how much to start? is it possible to start w/$100?||No, you probably want to start investing with at least $1000.|
|Educational Package||I am considering purchasing one of the educational training packages in CD format. Question 1: Does the instruction teach IN DEPTH the various candlestick patterns and the psychology behind the pattern? Question 2: Does the instruction use/promote a particular software for identifying candlestick patterns? Question 3: Can the CDs be accessed on a laptop computer, displaying full visual images? Thank you.||
Yes, each video goes into great detail as to why he candlestick signal/pattern works effectively. You not only learn how to recognize it visually but you also learn what the investor sentiment was that created the signal.
The scans are illustrated using Wharton brothers TCnet software but the formulas can be used on any scanning software.
And the CDs should work as well on a laptop as any other computer.
|TOS||I thought I heard Steve say that CTF was forming a relationship with TOS, I was wondering what the expect?||We will hopefully be able to get discounted commissions working with Think or swim|
|T Line?||can you tell me what indicator this is and how it isa calculated?||It is one of the indicators that RickyWayne has shown us in the members chat room. It's an eight exponential moving average. He has discovered that anything above that level is a good buy, anything below that level should be sold. That is just a quick explanation, he can tell you much better when we have his next training session.|
|GG Bearish Engulfing patterns||Goldcorp GG for close of 3/10/2010 sure looks to me like a Bearish Engulfing pattern. You are the expersts, what gives?||Yes, that was a bearish engulfing signal. But it needs a close below the T. line to confirm|
|Derivatives||Whatis buying a call & Buying a put?Whatis selling a call & selling a put?What is straddle & strangele & spread?||That is a long answer. It would be best to ask that question again in the Thursday night chat session|
|Candlesticks||The majority of the time when you get a hollow candlestick prices close higher than the previous day. And when you get a filled candlestick prices usally close lower than the previous day. If you get one of those rare candles that are filled but yet prices closed higher than the previous day in a pattern would you say that would make the pattern more risky to trade? For an example, in most bullish engulfing patterns the filled candle closed lower than the previous day. But if the filled candle closed higher than the previous day it seems like it would be more risky. Or an evening star pattern with the same scenario. What is your input on this?||It depends on where that dark candle is occurring in the trend. That is the whole reason for using candlestick signals. There is a lot of information being conveyed with the boxing in of the open and close. A dark candle that closes higher than the previous day has a lot more relevance if the trend is in the overbought condition versus if a trend is just coming out of the oversold condition.|
|market open during uptrend||Did I hear that the market often opens down during an uptrend and then reverses later in day?||Not necessarily, but an uptrend will usually consist of selling during the mornings, followed by buying in the afternoon. This merely means the profit-taking is occurring early in the day, then the Bulls stepped in.|
|candlestick screener||Are there any companies that offer a screening tool for candlestick patterns? Thanks in advance||
Some of them do, but they are not yet very effective. We show people how to set up the scans in Worden Brothers TC2007. Once you put the scans in, which takes approximately 20 minutes, you then have those scans available every single day.
|Profit Scanner||I've just opened the pdf and read instructions to set up Profit Scanner complicated?? or nearly practically impossible to set up.....which one is it?||We are currently having technical difficulties with the server that provides the profit scanner. We will get back to everybody once it has been corrected.|
|day trading options||I am relatively new to day trading options, and as you may imagine, am thrilled to be gaining experience with Candlesticks. I typically am looking at Spiders or Q's with EMA in the upper and Full Stochastics 10,3,10, Fast Stochastics 10,10, and RSI in the lower. I try to interpret candlestick formations as they relate to these indicators. I have a problem when the stochastics sometimes get stuck either above or below the line during a trend. Obviously when this happens, I would really like to be able to predict a breakout or continuation for that matteras soon as possible am i better advised to be looking to the stochastics or the candles for the first hints?Also, when the stochastics do get unstuck, is the relative distance between the 2 component lines of the stochastics as meaningful as they sometime appears when guaging how long to stay in a particular trade?thanks you||Stochastics are only an indication of where the trend is. A trend can continue for weeks or months. Or on an intraday chart, for hours on end. That is why you want to be able to identify a candlestick sell signal and a close below the T. line to get an indication of whether a trend will continue or is over.|
|Daily market update||Steve,I am not a member yet. Am I able access the daily market update? If so. How?||
Send me a email at firstname.lastname@example.org with your first and last name/ email/ and phone number, and i will set you up with a free 2 week trial at no charge.
|Stock analysis software for European stocks||Can you recommend a stock analysis tool for European stocks? The Telechart software is an excellent tool, but unfortunately European stocks except for FTSEs are not included. When searching the Internet I obviously get numerous hits, but none have so far offered a division of stocks into sectors or industry groups with an index for each group. It would be really great to have other markets to trade when the American is hard to analyze i.e. trading sideways as has been the case for the past several weeks. Thanks!||You might want to e-mail Worden Brothers to see if they are going to add a European feed|
|inquiry||please answer: looking at first candle and second cadle,how to decide buy or sell on 1 min chart?||That will need more information, where are the stochastics? What does the five minute and 10 minute chart show? The candlestick signals require analysis of the surrounding conditions of the current trend.|
|Stock Market||What is the propcedure to follow when a shareholder decides to transfer his/her stock from the old stockbroker to the new stockbrober?||
The new broker will usually have you sign in a form and they do all that for you.
|Penny Stocks ArcaEx buying before the market ope||My current online broker is OptionsXpress. I am running across a problem with buying into penny stocks in premarket extended hours trading, using ArcaEx which seems to be the only viable way to get into something that's about to move without missing the expected runup at market open. Is there a better online broker for making moves with penny stocks, or perhaps a proper way to go about doing this that I am missing?||They are all going to be the same, remember you are dealing with a market that may not have the same volume in the premarket. If you anticipate a run up, all you can do is try to get as much stock as you can based upon the availability premarket.|
|inverse stocks||When the market is going down I hear mention of buying inverse stocks for example SKF could you provide me with a list of these inverse stocks, please?||
BGZ, TZA, FAZ, 3X leverage
SDS 2X leverage short fund
|Ichimoku Kinko Clouds||Dear Stephen,I have seen some technical analysts use the Ichimoku Kinko Cloud technique to assist them with their analysis. What is your view on them?||I am sorry, I am not familiar with that technique.|
|candlesticks||where can i get different pattern candlesticks examples explained in old data charts||A good way to learn the candlestick signals is to go to any chart and identify what type of signals occurred at the tops and bottoms. This should also coincide with the stochastics. It will not take you very long to learn which signals show up most often.|
|Steve's Presentation yesterday||To Steve Bigelow:Thank you for a great presentation yesterday. I really appreciated the specifice recommendations that you made about candlesticks and how to trade using caddlesticks and the other indicators.Eric.||Thank you, keep coming back, the repetition is what will eventually sink into your mental evaluation.|
|Candle Sticks||Hello, i do forex trading and i wanted to buy your candle stick cards that cost 37us dollars, but i have one question. Since your candle sticks are mainly meant for stocks, is there any difference between forex candle sticks and stocks candle sticks?||No, the signals work just as effectively for Forex charts as they do for Bond charts, commodity charts, stock charts. The candlestick formations are merely the identification of investor sentiment.|
|Defiinitions||In a recent training CD Steve used these 3 terms. Sector index, industry groups & industry index. What is the defination of each||They are basically all the same, all you really want to identify is whether a specific stock is conforming with the bullish or bearish action of the rest of the sector.|
|Flash Cards||Which set of flash cards is best for day trading patterns.||The Patterns set, provided you are already familiar with the major signals|
|belt hold pcf||Hi I would please like the PCF for the bullish belt hold, which has the white Maruboza candle that has gapped down in a down trend Thank You Arnie||There are several pcfs in our Free Resources area and 2 variations for the Belt Hold Patterns. These are provided by our members and you should backtest for your personal use.|
|time for testing candlesticks||I am just getting started in learning about candlesticks. I have started testing different candlestick formations. My question is what time period do I use to determine whether a particular candlestick formation worked or not? If I see a Hammer or bullish engulfing line formation, for example, on a particular stock on, say August 1st, how long do I test it? How long do I examine it before I conclude that it hasn't worked if the particular stock hasn't moved? Do I move on after 2 weeks, 1 week, 3 days or what? Or should I compare the particular stock to an index, such as the S&P500 & see whether it outperforms that for a certain time period? If so what is the time period that I allow a particular candlestick formation to express itself or conclude that it didn't work? Please answer this question for me because I really cannot study these formations without some sort of guidance on this issue. thanks, Ted||Any candlestick buy signal, especially in the oversold condition, should have confirmation with in the next day or so. The purpose of a candlestick buy signal is to demonstrate the Bulls are starting to take control. If that confirmation has not occurred within the first three days after the signal, that signal did not work.|
|Tline for weekly charts||I know we use the 8ema for daily candle charts. Is it the same for weekly charts?||Yes, the indicators that work on a daily chart work just as well on a weekly chart or a monthly chart. The same is true for a one minute chart or an hourly chart.|
|trading strategy||sir,do u have any swing trading strategy which is right most of the times.||Yes, the candlestick signals and patterns have a high probability results consistently. You want to learn all of them because specific market conditions will make some signals and patterns more successful than others at any particular time.|
|Daily Stock Picks||What is the track recoed for these dail Stock Picks?||We do not keep a record of each individual stock pick. There are a number of reasons for not doing so. The pics are for illustrating when and why a chart pattern should be working effectively. Each individual investor has their own trading style. Some are day traders, others are swing trader's, others are long-term investors. Obviously the results of a stock picks at the beginning of a market uptrend is going to have different results than stock picks near the end of an uptrend. The candlestick forum concentrates on educating investors where to get into a position and where to get out.|
|Do I need TCNet||I currently use the Profit Scanner in addition to your and Rick's chat room recomendation. I do have access to Realtime streaming through my brokerage account and use Stockcharts for saving my active chart list. What would be the benefit of TCNet over what I aready have, if any?||TCnet provides the scanning capabilities that you might discover at the end of each trading day and being able to put those positions into a scanning box for the next day, indicating a breakout has occurred. This allows you to be able to be prepared for an entry strategy once it comes up on the screen versus analyzing the pattern after of the alert.|
|BAC, UNG, FWLT||Hi:I have been holding BAC, UNG and FWLT for a while. UNG seems to be very disappointing. Which one has potential to hold for long? Which one I should liquidate?Thanks,Frank||
BAC continues to act as we expect coming out of these patterns, continue to hold this one looking for the $22 area
UNG had a sell signal three weeks ago, however it is probably now in the oversold condition, you should be looking for a buy signal soon.
FWLT could be getting toppy or just moving sideways in a wave 2 pattern, getting ready for wave three.
The reason we teach candlestick signals is so you can make your own judgments. You should not have to rely on anybody else. The candlestick charts are very easy to learn and easy to understand. Once you have learned candlestick analysis, you will have a much better control of their own earning potential.
|Saving Monthly Videos||I've recently started a membership and enjoying the information being provided. I have been able to download and save the Ebooks as PDF files for continued review and study. Ideally, i'd like to do the same with your monthly video's. The content is large and would like to be able to play over and over, while taking notes, so i can master the information. Is there a way i can save it on my computer? I'd like to do the same for the Major Candlesticks Signals Video as well..In addition, I recently ordered this months video special on Gaps... When can i expect delivery... excited to get started.Thanks,Adam||
to save, right click on each link and click on "save target as"
it will bring up the save as box and just choose where you want to save to your hard drive.
|Daytrading Belthold pattern||Hi,After watching yur bonus video on the belthold pattern, a thought occurred to me: Why wait till the next day to trade it? In other words once the belthold or engufing bar has passed any part of the previous bars low, lets say 1/22%, why couldnt we jump in right there and use the previous bars low as a stop and exit the trade at market close. This seems much, much safer than buying on the next days open when a gap up occurs and then a huge tail forms in the 1st hour of trading to indicate profit taking and mm's taking out stops. In fact I find myself getting stopped out of belt hold patterns by buying the next day too frequentlyWHEN SWING TRADING and holding overnight as I dont have the stomach to withstand a 50% retrace of a huge bar so I use the previous days close as a stop, and darned if I havent been getting taken out 3/4 of the time these past 3 weeks, twice with one of your favorites CSIQ. So is daytrading the belthold while still forming a good move if a tight stop is used? And would you use the previous days low as the stop if nothing else is near? And in fact, even for swing trading why not wait till 515 minutes before the close to buy on any setup rather than chance a gap up the next day?||Not all beltholds are going to be followed by a gap up, keep in mind, a belt hold wipes out most of the sellers after a downtrend, however like any downtrend, there can still be some residue selling before the trend kicks in. If you do buy on the close, pick a point in the belt hold signal that would reveal where the sellers were in control, usually a close halfway down the belt hold candle.|
|Support and Resistance line.||How the stock is exactly holding at support and resistance line correctly with our any difference. Who is moving the market so exactly ' The Operator' OR 'The Stock Exchange'. Pls reply||Price is supporting at a support level or resisting at a resistance level is a function of the market itself. Everybody participating in that stock price can see where the support level is, so they are more apt to be buying at that level. Or selling at what is obviously a resistance level.|
|crossing EMA's vs. candles||I read Stephen's article in SFO and have been paper trading on a 1 Min/1 Hr chart with candles AND the 2 & 8 EMA. I have been testing using strictly using the 2 crossing over the 8 for entry/exit signals. Is this better than using strictly candle reversals?||The candlestick reversal signals occurring in the right conditions of the stochastics is your first criteria for a buy or a sell. The eight EMA and the two EMA crossing is just further confirmation.|
|Otion trading advanced training||Dear SteveI was referred to you by Bill Johnson of Ato Z options.I have taken over 20 private lessons from a private coach studied how to trade options, technical and fundamental analysis and some pattern identifications. I have traded for a while but like to take myself to the next level and be able to better identify patterns, learn more about option strategies and be able to make some money while minimizing losses.Please advise on the best course of action to reach my goal using the shortest path.If you can give me a call to discuss or advise on a convenient time to call you that will be appreciated.RegardsTOny||Option trading is a function of applying the correct option strategy to the correct price move. The advantage of candlestick analysis is the identification of a price move with a fairly high degree of accuracy. Then placing the correct option strategy is required. Please e-mail me at Steve@candlestickforum.com.|
|Gold & Oil forecast||waht do think about gold spot and light crude oil||Crude i think will be in a relatively sideways trend for a few more months, Gold has be moving higher but no convinced the strength will remain on the short term|
|strike line||waht is a strike line and what is the meaning?||I am not sure what you are referring to as a strike line|
|pcfs||These do not take at telechart. Concealing baby shadow ladder bottom matching low meeting lines.i am using the pcfs provided in ask the experts.Are there other boolean formulas or advice?Thank You||The formulas may be on the website, however for you to be taking the time to even look for these signals and patterns is a waste of your time. You will not ever see enough of these to want to spend the time setting up a scan for them. The best thing to do is refresh your memory from time to time by going through the secondary signals in the book. That way, if you happen to see something that looks like a signal, you will recognize it and then can go back to the books to see what they represent. Do not spend the time or energy trying to memorize or scan for these signals.|
|pcfs||These do not take at telechart. Concealing baby shadow ladder bottom matching low meeting lines.i am using the pcfs provided in ask the experts.Are there other boolean formulas or advice?Thank You||Do not waste your time trying to scan for these signals. They occur too rarely to be of any use.|
|MA setup Q||Hi!Could you tell me please what offset and source should be put for 50, 200 and 8 MA?Actually I'm not quite convinced: Are those MA suited for day trading either?Regards, Mario||Do not take our word for what moving averages work as magnets. It is a very easy process to study past charts to see how often the moving averages to act as support and resistance. This is not information that is being forced on anybody. This is merely conveying information that has worked well with candlestick analysis.|
|Private session||Are private sessions available to assess ones trading problems, and at what cost?||A one-on-one training session is $6900 for the weekend. A more effective method of the private training sessions consists of 2 to 4 people, these are $4900 for the weekend and the flow of information flows much better when two or three people are asking the questions each would be asking or expressing problems that everybody usually experiences.|
|day trade kicker signals||On a daily chart, in the examples you give, I can clearly see the kicker signals. On a 1 minute.1 hour chart what would they it look like?THX||Look at FAS over the last three days, a dark candle then followed by a gap up over the previous days open and created a green bullish candle. It will work on 1 minute charts as well.|
|1 minute.1 Hr chart||Hi:Waht EMA's do you recommend to day trade on the 1min/1hr chart?||
13, 8, 2 combinations all EMA's
|Candlestick reversal signal question||I have a daily chart of FITB that I would like to ask a question about based on the discussion on 4/9/09 in your forum. Is there any way I can attach a copy of my chart that I've marked up? If I can show you the chart, you'll see where I'm questioning whether or not I've properly identified a reversal signal. Thanks||
4/10 FITB did a sell but was followed by a kicker signal on Friday. This would have done a case where you might have closed out the position on Thursday and bought it back immediately on Friday, which is exactly what I did.
|Day trading||Hi!I join to you just today....could you please help me to find more details what is presented in 'day trading section' I couldn't find it in members area?One more Q please: I can see RSI for trading SP500 what role does it play?Sincerely, Mario||The daytrading feedback can be found more on the chat room. There are people there that day trade and throw out ideas to each other. I do not use RSI, my main criteria is the candlestick signals and the stochastics|
|gaps in chart||Normally after having 3 windows in candlestick chart in uptrend line,there's signal for changing.Is this exact 3 windows and having a change?Or it can have more than 3 windows||There can be more than three windows, just be more alert after the third window.|
|candlestick pattern||I recently ask what is the JHook pattern and i did not get an answer.Tks||They Jayhook pattern starts with a very strong uptrend, then you see some profit-taking. However, after a day or two, but trading formations become very indecisive. This becomes the alert for new buying. It creates a hook back to the upside and the next leg will usually be the equivalent to wave one. This|
|combine moving ave techniques||hello in april 09 sfo magazine Mr.Bigalow wrote an excellent article.I have some followup questions.what would be moving ave days for 1. stocks 2.grains meats and softs? I am a trend follower not a day trader||
Both the same, 200, 50 and 20 SMA, with th 34 and the 8EMA, commodities pay more attention to the 20, and 34 and 8.
|candlestick pattern||what is a JHook Pattern||Come to the Thursday night sessions, we usually point them out and describe how they work during those sessions|
|Tech. Analysis||what is a kicker signal and how is it used||The kicker signal is the most powerful signal of the candlestick universe. The graphics can be found on the website. It essentially tells us the investor sentiment has been kicked in the opposite direction. This will usually be followed by an extensive uptrend or downtrend because of the change of investor sentiment.|
|best day trading time frame to spot candlestick re||Hello, I am new to trading and I've recently subscribed to your newletter and dicovered your website in which I find both very interesting. Can you please tell me which time frame is the best for day trading using the candlestick patterns ex. 1, 5 or 15 minute? In other words, in which time frame will the candlestick reversal patterns be most evident or easier to spot for day trading? I just want to get off on the right track using the candlestick patterns. Your help is very much appreciated,thanksSam||Are use the one minute, five-minute, 10 minute chart combination for trading intraday. The signals work just as well on those charts as they do on the daily, weekly, and monthly.|
|stochastics confirmation with intraday||Hi Steve,I'm a trial member from the January Clinic and new to trading. I have a question regarding interpreting Stochastics on the intraday charts.I've attached a chart of LOGI one of your pick for Mar 16th, daily / 60m / 30m as of 11:30 EST.Observation . On the daily, Stochastics is in the Overbought region.. 60min intraday is falling from the overbought region price at support at the tline.. 30min is flat at the lower level, but above the oversold region. Price is slightly below the tline.With my limited understaning of how to apply Stochastics, I would do the following . daily chart, I would not enter since it is in the overbought region. 60min, I would wait for more pullback towards the oversold region. Although, price already at the tline.. 30 min indicator is flat above the oversold region. Will waiting for an up move to confirm price movement.Question how do you use the 30 min or the other intraday charts to support /confirm the 60 min ? Waiting for the 30 min indicator to move up would make me enter a position, but the 60 min will continue to be in overbought region not making it a buying opportunity. Not sure how to interpret the oscillator signal.Thanks.Richard||
Keep in mind, stochastics are important when observing an oversold condition in a candlestick buy signal. Stochastics are also a signal that a pattern is about to break out based upon the stochastics already being in the overbought condition. LOGI was recommended based upon the frypan bottom pattern that now had a gap up confirming the exuberance coming into this pattern. The patterns have completely different correlation to the stochastics. However, you have touched upon something that should have some added research, which intraday charts work most effectively with a pattern breakout.
|Trading Gaps||Does Trading Gaps work in this market?||Trading gaps works extremely well in this market. When a major market reversal occurs, there will be many stock prices that show buy signals and reversal signals. However, it will be the chart patterns that show gaps that reveal which stocks buyers are extremely enthusiastic about getting into. Those are the trends that will using act extremely bullish.|
|Determine Price Entry||Is there a formula that can be used to determine the price entry when taking a long position?Thank you.||There is not a formula. However, the premise of candlestick signals reveal high probability times for getting into a position. That can be further enhanced by knowing which signals and patterns are going to create the strongest uptrend.|
|STOCHASTICS CONFIGURATION||Hi,I have read the two books produced by Mr BigaloMy question is the following :which stochastics configuration is recommended for day trading, swing trading and long term trading.is it 12,3,3 or 14,5,5 ? is one better than the other based on a paticular time frame ?Or should the choice be made based on some other factor ?I'm highly intrested in day trading for the moment.but complete answer pertaining to all time frames would be very helpful.thanksThierry||Stochastics are merely an indication to show where the trend is when they candlestick signal appears.12,3,3 has worked extremely well for swing trading. 14,5,5 works extremely well for the longer-term investor not wanting to get spooked out of a position. I used a combination of 12, 3,3 and 5,2,2 for intraday trading. This is not a very difficult process to develop for finding what stochastics work the best for the time frame you are trading. Look at past charts and test which stochastic settings clearly represent when it was time to buy or sell based upon the peaks and valleys.|
|stocks||Pl. tell me the trend of rswm ltd||Send me the symbol please|
|Jan. 24th & 25th Clinic||I was in the clinic on the 24th and 25th of Jan. and we were to receive access to Steve's training video's as a Bonus. How do I get access to these video's?Thanks,Kevin||Kevin, log in to the Members' Area and once you are logged in click on "Signup Bonus Access" from the left-blue column. In there you will find the download links for the free ebooks as well as the free video of the month.|
|Chart Selection||Would yo be so kind o give me an idea of what charts go best when usw Candlesticks as your primary signal. I.E RSI, 102050MA, Stochastics, OBV ? I just need a little help to get on with my trading||I use stochastics, 12, 3,3. I also use the 200 day moving average simple, the 50 day moving average simple, and the 20 day moving average simple. The eight exponential moving average is what we call the tee line. Please come to our Thursday night sessions, they are free and we explain how to use these indicators with candlesticks.|
|mutual fund selling||Can I put a stop sale on a mutual fund? I know the end of day nav number is calculated after hours, so the numbers are not exact. I want to sell if I lose 1015%. Can I do that through a financial advisor?||You should be able to do that with a broker. However, you might have to monitor the price yourself and then call in a sell order when you see him hit that level. Your broker should be able to monitor that for you.|
|brokers||Thank you for your response in advance. I was a victim of the Refco BS and of the Fxtrainer scam. Even though I thought I had done my homework that became very painfully not true. I went back to work and after several years have again put together a little account with which I can trade. Please advise who you have your personal account with and if possible a person who is honest at that brokerage. Thank you again. John||
Schwab is a good company, Ameritrade is a good company, or Internet brokers (IB) if you come to our Thursday night training sessions that are free, that would be a good place to ask in the chat area and get other peoples opinions.
|day trading||What would have in your books or services which would help me as a day trader?ThanksMCL||Yes very much so, I traded the S&P minis very successfully using candlestick signals. They trade commodities such as soybeans also.|
|engulfing signals||hi is there a pcf that shows engulfing patterns that engulf more than 1 body and possibly engulfs the shadows? thank you||Certainly, I think the formula is on our site somewhere. Look under bullish engulfing signals. You can very easily formulate a scan where an engulfing signal engulfs more than one trading day.|
|tri star formula||hi i would appreciate the pcf formula for finding the tri star pattern thank you arnie||I do not have one specifically for the TriStar pattern, but if you just use the Doji scan in the oversold area, you will find the TriStar patterns using that scan.|
|Investing In Oil||If my assumption is correct that oil prices will rise significantly over the next 2 years, what is the best way to leverage my capital to take advantage of the rise? More specifically, I believe oil will start to significantly rise in 39 months, and will be double the current price in 1218 months, and 34 times the current price in 24 years.I have very little capital and am willing to lose it all, taking the most risk. I'm knowledgeable in Forex? Do I open a commodity investment account similar to a Forex account? What are the basics? Is it similar to Forex where you can leverage up to 1:400? Or is there some other investment vehicle that is more optimal for profiting from oil price increases?||I am sure there must be futures/leaps for oil prices. You can buy a leap option for crude oil for 12 months out.|
|copper||can copper cross Rs 145 in one week ?||I am not sure what you are asking, however Copper has moved up above the 50 day moving average. As of January 28, I would be a buyer of copper based upon seeing the next bullish signal.|
|candlestick scanning software for forex||I am looking for software that will scan forex charts in any timeframe for candlestick patterns. What do you recommend? I have found some online but, the patterns they scan for happen to be the least probability patterns for success.||I have not yet found a truly effective software program first innings candlestick signals. That is why I always stress to people who learn how to use the signals, then you are able to use them in any trading timeframe or entity.|
|Trens of Turkish Lira agaist major courrencies||Dear Director,I would like to know the trend of Turkish lira against major jurrencies at present and in the near future. I would be greatful,if you ýnform me on the issue.Best regards,Hasan Ýzzet||Sorry, I don't even know how to find the Turkish lira on my charts.|
|arbitrage||Where can I find data regarding currency arbitraging please?||I am not sure I could help you with that. That would probably be something a brokerage firm could help you with.|
|Book Building System||I would like to know about Book Building System that is used to bring a new company in the stock market.||I believe you are referring to initial public offerings (IPOs), and Book Building System is one method of pricing the initial offer.|
|candlestick and daytrading||Sir, kindly comment and suggest about my newly developed day trading system using candlestick.The system is..............1draw previous day's candlestick on chart for today trading, i.e open/close/high/low. Thus getting four levels.2draw today's opening level on the chart.3If price trades above opening level then bullish candle in the making. If price trades below the opening then bearish candlestick in the making.4Observe,whether todays candle in the making engulfs/pierces/dark clouds pevious day candlestick5 Entry/Exist depends on breaking out upside or downside of above mentioned four levels and today's opening levelKindly advise and suggest, whether this system will be practicable or not. And how can I improve this system.ThanksRegardsShyamfrom INDIA||Sorry, I do not have enough details to declare whether the system is efficient or not. The best process is to take the candlestick signals and continue to test any trading program you put together. At least with using candlestick signals you know that you have a successful program to start with. You can always add parameters and indicators to make it more successful.|
|RE: future trading||This is a question for Steve Bigelow. A few month sago I listened to on of your free webinar where you talked about loosing a lot of money by accidently getting into a locked future position and wasn't able to get out of the position. I am in the process of studying how to trade futures Stock Indexes, I am reading some books and haven't seen any information on locked futures contract. I would like to know what does the ticker symbols look like? Would you please send me some informations about locked futures contract, I would like to avoid making this mistake. Thank you, your assistance is very much appreciate it.Regards,Shirley Oey||You will not find situations when trading the indexes that would lock you into a trading position. It usually occurs in commodities where the cash price of a commodity moves dramatically and the futures price has a limit as to how far it can move each day. For example, if soybean prices dropped one dollar, the futures may have a $.30 limit each day. That would mean if you were long soybean futures, your position would drop down the limit three days in a row before you could find buyers to sell your position. Essentially you would be locked into the position for those three days. That will rarely if ever happen in the index futures.|
|scanning tools||Would you kindly inform me of any other scanning tool that scans for candlestick patterns, other than TC net to which i am already subscribed? Which also scans other exchanges that is not within TCnet.||I am not sure if there are other scanning softwares that are directed specifically to foreign exchanges. Hopefully, TCNet will eventually get feeds in from other exchanges|
|EMA and MA||differende betwwen EMA and MA||
The Simple Moving Average (SMA) is given equal weight during a time period. For example; a 7-day period is the sum of prices divided by 7.
The Exponential Moving Average (EMA) gives more weight to recent prices. For example; the same 7-day period is calculated giving more weight to the most recent price. The next day the calculation for the EMA is derived by dropping the oldest day and recalculating using the 7 most recent days' prices.
|Software||Where do I buy the software for trading?...And which brokerage firm do you go through.||There are software is for showing you when to buy and sell. However, none are available for candlestick signals. My suggestion is learn how to use a trading techniques such as candlesticks, then you can use any brokerage firm you want to.|
|sikver mini and OJ signals||DearSiris the silver mini showing 3 dojis in a row on 10/30 31 and 11/3? I think this looks good Do You? Also OJon 11/3 shows an inverted hammer How does this look?THANK YOU||Any time you see a series of Doji's, be ready for a strong move.|
|5 StarTrading Plan||I bought the 5 Star Trading Plan there is sound only no video.Please advise.||
Make sure you have downloaded the TechSmith codec so that your Windows Media Player can play .avi files.
You can download the codec from the following link:
Once you have installed it, you may have to restart your computer for it to take effect.
|time frame||which time frame is best to trade stocks, 1, 5 or 10 minutes?Do you have to check hourly chart before you trade?Thanks.||
Depending upon the time frame that you want to be investing, such as if you're a swing trader, you would want to be using the daily charts. That would mean you're looking for trade positions that should last from two to 10 trading days. A longer-term investor would use the combination of the daily charts and weekly charts, somebody investing in two to 10 weeks cycles. The real long-term investor, somebody anticipating holding their positions for more than six months would want to use the weekly chart and monthly chart combination with using the daily chart as your entry evaluation.
|Private Training||Info on private training schedule, content and rates.||
Please click on the following link for more details on private training sessions.
The next sessions will be in December, but we do not have a set date yet.
|Price Reversal Candle Signals||Hello:I would like to see an example of a three bar formation composed of middle price bar or candle with bars on either side having lower lows.This formation indicates a price reversal, but I need to see an example to understand what this formation looks like. Can you help?I thank you for your reply.||I do not understand the description of the formation. Do you have an example that I can work from?|
|understaning the stock market||hello ,I am Ms. Williams I am 18 years old and my goal is to get involved with the stock markets. I wanted to fully undestand the charting information highs / lows etc. so i will be knowledgable with my daily info on my investments. Thankyou||My suggestion is to read our two candlestick trading books. This encompasses the investor sentiment that is involved with moving prices.|
|News Trading||I will like to know how to trade the news fundamental Trading.Thank you.||I am not sure what you are referring to, however candlestick signals are excellent vehicles for understanding what investor sentiment is doing after a news announcement.|
|what is the difference: solid red vs.hollow red o||I have seen this question on the archive and it was not answered completely. My brokerages candlestick charting has, both, solid green or hollow green and solid red or hollow red candlesticks. What makes a solid green candle different from a hollow green candlestick and what makes a solid red different from a hollow red? In other words, how can a chart have both solid red and hollow red candles on the same chart why are some hollow and why are some solid?||
A hollow candle forms when the stock closes higher than its opening price.
A solid (or filled) candle forms when the stock closes lower than its opening price.
|I need a mentor to learn Options Trading||I help on how to trade Options. I attended some seminars but it was so confusing.||We will be offering some option instructions near the end of the year. These will be very simple trading strategies using candlestick signals.|
|chart pattern||I am watching a thinly traded Pink Sheet stock, WFWL...is this a frying pan/bath tub or what pattern? Thanx!!!||I am sorry, I do not have access to the pink sheet charts|
|candlestick||how in the heck do you apply this candlestick system in a volatile market that we are in? it makes no sense to me.||The Japanese rice traders say let the market value what the market is doing. We are currently a dumpling top pattern. This pattern is made up with indecisive trading. There are times when the candlestick signals will alert you that the market is not creating any opportunities, you just have to sit and wait until the next pattern develops. There is nothing wrong with sitting in cash when the probabilities are not in your favor.|
|TLine||I am new to the forum. When we get a candle stick signal do you wait for price to close above the TLine before buying? Does this increase the probabiities of the trade?Thanks for your helpTodd||Yes it does improve the probabilities. However, the signal is the most important aspect of when to buy and sell. The T. line acts as additional confirmation. If you buy a position based upon a bullish signal that is confirmed below the T. line, the next step is to watch what it does when it gets to the T. line.|
|Tline||How is the Tline arrived at?||The t-line is the 8 exponential moving|
|options/Candlesticks||Hi Everyone, i have been trading options in the us since february, time frame 34 weeks til expiry. I am confused in that looking for candle stick formation to work with over this period not sure when to get in and become over analysing which is confusing, please help||If you are trading options on a longer-term basis, you might use the daily signals for your entry and the weekly/monthly chart to get a bigger picture. However, as we have seen over the past three months, the dumpling top pattern that has developed in the Dow makes it very difficult to be trading either long or short in this market.|
|how to understand the candle subjects and patterns||here you where mentioning various type of candles i was confused how to identify the candles pls explain me with details and how many types of candles||Out all of the 50 or 60 candlestick signals, you only need to learn the 12 major signals. those are fully explained in the two books found on the website|
|strong bullish signal||how to know that a hammer is indicated strong bullish, because in some case dont like the theory||The hammer is one of the 12 major signals, it requires the confirmation that the Bulls have turned the trend around.|
|PCX chart question||I would like to get your opionion on PCX. It has had a nice run up and recently pulled back. On 7/3 there was a DOJI, then on7/8 and 7/10 a hammer. The Stochastic has been in the 20's and move up a little today. I look at this as a buy signal with confirmation today. Am I reading the candlesticks correctly or do you disagree. Please explain. Thank you very much.||Yes, notice how the hammer signals just barely touched the 50 day moving average, making that average a support level. Would be a buyer until a definite sell signal appears in the overbought condition, which could be near the previous highs|
|Investing||What infomation do I need to know about a company or organization that will help me invest in the company or buy their stock or bond||That sounds more like a question regarding fundamentals of a company. All that information can be found on Yahoo finance. Candlestick signals show you more of when the buying and selling is coming into prices.|
|Predicting the market||I've looked at maybe a dozen different 'signal' type of systems for predicting how the market will behave. I have spent the last 6 months paper trading and trying to determine if there is anyway to determine even remotely the direction then the when the flip to the opposite direction will occur. I'm ready to give up. I haven't lost much because I've spent my time in paper rather than actual trading in TY futures. I'm not looking for free advice...I just want to know if it's even possible.||Keep in mind, the candlestick signals are the graphic depiction of investor sentiment. They make analyzing trend reversals and trend continuations very easy. We have a training CD on the site, "Trend analysis with candlestick signals" that puts all that information into a logical order.|
|Shadows||1. What are the implications of excessive long shadows, e.g. more than 5 times the body?2. Do I have to take shadows into consideration for reversal patterns other than hammers, hanging man, and shooting star?3. What is T-line?||
Yes, the length of the shadows gives a good indication of what change of investor sentiment has occurred during a time frame. The more extensive the shadow, the greater the change.
The T-line is the eight exponential moving average, it works as an extremely good indicator in conjunction with candlestick signals to demonstrate when a full change of investor sentiment has occurred.
|Stochastic settings & scanning software||Have read the Ask Experts archives and one of Mr. Bigalows books. Have two clarifying questions: (1) for short term Forex intraday trading (off the 5 min chart) stochastics values of 12, 3 3 and 4,2, 2 are suggested for use in combination. Many charting packages only allow two values to be used. So, how does one use these two sets of 3 values each IN COMBINATION WHEN ONLY TWO VALUES CAN USED IN THE CHARTING SOFTWARE?? AND (2)given the fast pace of forex short term trading, scanning software to find tradeable Japanese candlestick patterns would be very helpful. But Mr. Bidalow says he has not seen "any pre canned scanning software that is worth anything" and it is best to get to know the 12 major signals very well because candlesticks are a visual analysis and too many formulas are required for use in scanning software. Makes sense. But, why then, are a list of pre written pcfs for the major candlestick signals available in the Free Resources section for use with Worden 2000 scanning software??? This seems very inconsistent and I would appreciate any clarifications you might be able to impart on these two points. Thank you.||A reference to the pre-scanned software is those that are already built into the system. Candlestick signals can appear at any stage of a trend but that does not necessarily mean those formations that look like signals are recurring in the right conditions. The PCF's are to be put into your own scans using Worden Brothers software so that you already to identify reversal signals as they occur when other conditions are occurring on the chart, such as buy signals occurring in the oversold condition, or at major support or resistance levels. That flexibility usually does not occur in Prescanned software packages.|
|investing||i will be recieving a small inheritace,i want to in vest it for the next 10 - 15 years,ineed advice on how an where to gain the most return but with light to medium risk||My first suggestion is that you learn an investing method. Obviously we think candlestick analysis is the most informative and accurate. Once you learn the commonsense information bill into candlestick signals, you will be able to control your own investment results for the rest of your life without having to depend on somebody else.|
|Shadow, T-Line||Should shadows be part of consideration in the candlestick patterns, or just consider the real body in judging candlestick patterns? Can you provide more info on the subject of shadow and candlestick relationship?What is T-line mentioned a lot in you stock analysis?||
Shadows, or tails, have a different consideration depending upon the overall candlestick pattern. I suggest beginning with How to Trade the Stock Market with Candletick Patterns in our Free Resources category. Each signal is illustrated with step by step trading criteria and pattern psychology.
The T-line mentioned in our stock analysis is explained in the Ask the Experts area. The t-line is the 8 exponential moving average which has worked very effectively for RickyWayne in his use of candlestick signals combined with other technical indicators. Come to the Thursday night chat session, those indicators are usually better explained there.
|aussie candlestick traders||How would I be able to get in touch with other Australian traders who trade using steves candletick tuition.I live in Perth W.A.||The best thing to do would be to join our free forum and post your question there. There migh be other Australian traders that might be able to help you.|
|commodity mkt||hello sir, my question is....in gold there is berish or bullish..if it is berish than why? n if it is bullish than why? n wht abt crudeoil????plzz reply my question???as soon as.....||Gold appears to be stuck in a trading range between the 50 day moving average and the 200 a moving average. There is no definite trend. It seems to be in a sideways mode. Would not be trading the right now.|
|stop loss @ the close||I was told by a broker that the nasdaq would not take a stop loss close only order?||I would have him check again. That is a very simple stop loss order.|
|FOREX||I would like to learn to use candleticks and a couple of indicators to trade that market. It is my understanding that Candles don't seem to work as well in that fast paced market, I have heard this is the case on 15 and 30 minute charts setting. Is it true on hourly and 4 hour charts as well? Is that true. And if it is true, how can that be corrected? Also do you give a seminar on trading the Forex markets using Candlesticks?||Five have traded currencies and the indexes on a one minute, five-minute, 15 minute chart combination. Candlestick signals work very well in all time frames. They can be used to trade Forex very easily and profitably.|
|Your Recent Newsletter regarding DRYS||Yes I was looking at DRYS and I use TCNet and I have a different fib retracement then you folks. I do not have a 50% retracement yet using the same points as you did. Now I know my numbers could be wrong and if they are would you please correct me. Thanks||That seems strange. The Fibonacci numbers are all the same no matter which chart service you are using. As of today June 11, it looks like DRYS closed almost exactly on the 62% retracement level.|
|CSIQ||can you please take a look at CSIQ ? i think it formed Doji but not sure what type of Doji.. can you review it and let me know what do you think of this pattern ?||CSIQ is in a slow downward trend. Would not be buying until we saw a candlestick buy signal that is confirmed by closing above the tee line.|
|about investment||I want to earn money from stock market.I live in Pakistan.||The candlestick signals can be used on any trading entity or any market.|
|Inverted Hammer||What is the significance of an inverted hammer in the middle of a small up move? Not quite a shooting star as the stock did not gap up and the body is white. Does it show indecision, as if the bulls want to move it higher but just have not got the confidence. Top of tail almost touched 200MA (I'm talking about DIA on 5/14/2008).||That wasn't indecisive trading day with a shooting star right on the 200 day moving average. That indecisive trading illustrates investors indecision at a major potential resistance level.|
|after-hours question||Dear Experts:First of all, thank you for the articles you have written over the years. I have come to admire your methods of money management and tried to incorporate ideals in my own portfolio. As I read your articles and watch the market over the years, one nagging issue keeps cropping up.What drives the after-hours market behavior?When I watch a stock jump percentage points up or down in after-hours and do not see any valid reason for it, I don’t understand. It seems like the big boys are either controlling the price to their liking or manipulating the price to steal from the average investor. Maybe I’m too cynical and I hope you can help educate me.Can you either explain it to me or point me to an article or book with answers? I’m coming to the gurus for help. Keep up the great work!Sincerely,Ronald Parkrpark@caremaster.com||The prices move much more an exaggerated in the after hours because there is very little volume on the bid and the ask. Many times you'll see the price a far distance from the closing price. These are good till canceled orders that are still open. Unless there has been an important announcement, the price will usually come back pretty close to of the previous close at the beginning of the next day's trading.|
|changing payment plans||I want to to change payment plans (in my case go from monthly to every six months) but I see no where explaining the best way to do this. I could simply sign up for the six months but am afraid that I might still get charged my monthly as well. I could first cancel my monthly subscription but figure that might mean I have to go through the whole sign-up process again. Or I could simply call to get the quick answer I need, but no one ever seems to answer the phone. My monthly is up in two days, so any help would be appreciated.||Call Javier again on the toll free number, he will get you taken care of.|
|Tweezers||If tweezers are suppose to have matching highs or lows,how does one explain Twezers top and dark cloud cover (different highs and lows), Tweezers bottom and hammer (different lows)and Tweezers bottom and piercing pattern (different lows)? Thanks for your guidance!||I think you are talking about two different things. A tweezer bottom is two days where the lows are exactly the same. That does not necessarily mean that a hammer signal has to be a tweezer bottom.|
|Candlestick Flash Cards||Do your Candlestick Flash cards (both sets) apply to candlesticks appearing in Forex currency trading charts?||Not necessarily for analyzing a Forex trade. If you take each currency individually and analyze the charts, then you can apply that information back to a combined Forex trade.|
|Fibonacci||I am trading with candlestick for almost 2 years your candlestick CD's are excellent. I always in a attentin to learn more and more. I have a question about Fibonacci. I play Russell 2000, with combincation of 5, 15 and 60 minutes. If I put a fibonacci retracment on last 1 hours candle, does that help me get an idea what market next move will be and match the schocstics and candle indicators at that point. Is that will be any helpplease advise Thx.||Use what ever techniques you know everybody else will be watching. The advantage you have with candlestick signals is being able to see what is going on at those specific technical levels. Do not be afraid to throw the Fibonacci numbers up on any time frame and watch to see what signals occur when those levels are reached. Keep in mind, the signals tell you what is going on in investor sentiment immediately. Use that information at levels that you know many other investors are watching.|
|shooting star and followed by doji and shooting||h, how do i interpreted this following. .HSI, i see a morning star started to form on April 1. on April 2nd, it formed shooting star and gravestone Doji, on April 7th, another formed doji star and dragon fly Doji, Stochastics is at above 80... on April 8th, small volume selling.. in your video, it said the rule of thumb is when you see a doji, sell immediate.. do i have it correct interpretation and am i reading the right signal ?||Sorry, I cannot pull up that symbol HSI.|
|Buying on the Sector||I am looking at a stock IPCS/Inc., which is in a breakout position, with news reading very well. If the sector is somewhat below the moving average or in a down turn. Would this still be a good buy.||In general, we would like to have the sector moving in the same direction. However, if the news pertaining to that break out is going to override what the rest of the industry is going, use the signal and the news as your main criteria.|
|Scans/Screens||Does your service offer a stock scanning tool looking specific Candlestick formations?Thank you for your time and attention of this question.JimV||Yes, we have some CDs showing how to set up the scanning techniques for TCnet specifically and then a much longer training CD showing how to set up and use the scans on a general basis as well as for each specific signal.|
|Inverted Hammer / Gravestone Doji||hi, i'm still trying to get hanging of reading candlestick signal here. hoping you can help me with this question to see if I have correct or incorrect reading.i see .DJI ( Dow Jone ) is forming inverted hammer today, march 28th with Stochastics 67. is this is the down trend sign or should I be looking for another indicator or what is the next signal to look for ?||March 20th formed a shooting star type signal. But it closed above the tee line. What will be required the next day, if this is a bearish reversal signal, is confirmation of continued selling. This would be a lower open followed by more selling. A positive open followed by continued buying would illustrate the tee line had acted as support and the uptrend would continue.|
|eve sessions||I bought the tapes and would like to know how to access the eve sessions||
To access the Thursday night sessions, you must download Hotcomm. Click on the following link for instructions:
After you download Hotcomm, you must also download the desktop shortcut. Click the following link to install the desktop shortcut:
Once you have the desktop short cut that says "Connect to candlestickforum on relay9," doulbel click that icon and you will be asked to enter a password, the password is 123.
|DJI||hi, i see DJI on March 25th has a star with Stochastics 89, over brought area. March 26th, i'm not sure what is that signal. is that a hammer and is it a down trend sign since we are at over brought area ?||If it can be analyzed that we are in an uptrend, a reversal of that uptrend requires a candlestick sell signal AND a close below the tee line.|
|FXP, FXI and RIMM||FXP is forming a star with Stochastics at 50..previous 3 days trend is down and on second day it has a hanging-man March 24th. what does this mean ?FXI is forming a star with Stochastics at 50..previous 3 days trend is up. what does this mean ?RIMM, is at Stochastics over brought but the trend is continue upside. how do i read this chart ?more up trend ?||FXP does not have a good chart to analyze. Part of that is the fact that the stochastics are mid range moving sideways. FXI I show the stochastics closer to the oversold area starting to move up. It should be in an uptrend as long as it stays above the T-Line.RIMM is a strong morning star signal off the 50 day moving average. The stochastics are now just getting to the overbought condition. Stay long until you see a candlestick sell signal.|
|Artificial Intelligence and Stock Market Trading||I am looking for as much information/documentation/articles/conference proceedings etc on the use of incorporating news feeds of worldly events in to an artifical intelligence agent that automatically uses this information to understand the current market situation. Your assistance is greatly appreciated.||I am not sure what you are requesting|
|Which Book||Hi, Just starting out. Which of Steves books should i start with? Can I go right into "High Profits..." 2005 - or do i need to start with "Profitable Candelstick..." 2001? Thanks!-Joe||Start with "profitable candlestick trading" that will give you the foundation for understanding why and where the signals work|
|Line Charts||I found your information on the Candlestick Patterns, do you know where I can find the calculations for things like MACD, and all the other types of indicators that go with line charts ?||
We have over 600 pages of free information pertaining to candlestick signals and some of the indicators that work in conjunction with candlestick signals. The best way to get the definitions of each one would be to Google each indicator.
|shares||I WOULD LIKE TO KNOW IF I CAN BUY 1-2 SHARES THAT ARE $5.00 A SHARE? AND IF I CAN DOES IT MEAN THAT 2 SHARES IS ONLY $10.00? OR IS IT $5000.00?||You can buy any number of shares you want. However, one or two shares of a five dollars stock, costing $10 total, may cost a good amount as far as commissions. Buying 1000 shares at five dollars per share will equal to $5,000 purchase.|
|Position sizing for options trading||Hello Steve,I have your 1st book & also attended your World Cup Advisor webinar last week. I posted a question about position sizing in options trading & you requested that I send you an email instead.For stocks, your recommendation I believe is dividing the equity into equal 8 to 10 positions at any one time so the most that we need to monitor is 8 to 10 open positions. Does the same apply in options trading?My current way of positioning is to use no more than 10% of equity for a single trade. And to calculate the number of open positions that I can have I use a risk based rule where in the worst case scenario if all my trades get stopped out I lose no more than 20% of my total equity. Is this fine, is it too conservative? I cannot yet say if this has been successful cos I have only started doing it this way. I normally buy straight calls & puts.Thanks in advance.Best rgds,Waimun||If I have 10 equal positions, I will use one of those positions funds for my option trading. Those funds may be allocated to four individual positions. That makes my total positions to be following each day approximately 12 or 13. That is not too many to be watching. You need to find what would be comfortable for you. If you're more oriented toward trading options, you may elect to use two positions of funds to trade options.|
|buying||what companies are the best companies to start buying from?||I do not understand the question|
|White body up/Black body down||I purchased your gift package with "Profitable Candlestick Trading" on order 107523. On page 5 & 6 it states "Keep in mind this does not necessarily mean that a white body represents that the price was up for the day or that a black body represents that the price was down for the day." I don't understand how the price wouldn't be up with white and down with black.||The bodies are formed by where the price opens and closes. If a price gaps up but closes lower than where it opened, it will form a dark candle but still be up for the day. Notice the NASDAQ chart of approximately 7 trading days ago. It gapped down but closed higher than where it opened. It was still down for the day but formed a green candle.|
|Multiple time frame||Do candlesticks mean the same thing on a intraday, daily, weekly, monthly charts? (I mostly trade intraday)||Yes, the candlestick signals work just as effectively on a one minute chart as they do on a daily chart or monthly chart.|
|commodities..grains, cattle||In the daily chat room, Steve mentions and show charts of commodities w/his current positons and trades.Do Steve have a separate website for Commodities or where is that located on CS website?I would be interested in participating in his commodities trades in some fashion. Where and how can I obtain this type of info. and sources?RegardsDennis Ditmars||We will be putting buy and sell recommendations on commodity charts in the members area as well as trading on the World Cup advisors program.|
|Managerial Accounting||how do I learn the steps in Traditional Costing and Activity-Based Costing I'm an accounting student and it is very hard to learn the step in working out the methods for both and its very hard to understand my instructor||I do not understand the question|
|CandleSticks and Futures Contracts||When charting with candlesticks for futures contracts should the cut-off time from day to day be the regular daytiem trading hours of the contract (when there is highest volume) or should teh candles reflect the continuous overnight non-stop trading 24hours per day 5 days per week.TIA||Use the normal daily chart, the overnight trading will be built into those cansdles. Correct, the major volume will be during the day.|
|Stock Market Holidays||Do you have a calendar for 2008 Stock Market Holidays?||
Stock Market Holidays for 2008 are available in our website at this link 2008 Stock Market Holidays. Additionally, some exchanges close early the day before major holidays.
Remember, the professional money managers often vacation around scheduled exchange holidays.
|Market Gapping Days||I have a general trading question. I am a new trader. I try to look for 4-5 potential plays each night for the next morning. I have heard Mr. Bigalow say statements like, “I’ll buy if this stock opens up in the morning.” I had identified a few opportunities that I was going to buy put options if the stocks opened lower today. My question is how does one play something like that when this morning happens? One of the stocks I identified opened down over $2. I would barely make my spread back by the time the stock completes its down move (which will be tomorrow at this rate).||A gap down from the candlestick sell signal, although extensive on the first day, will usually indicate much more downside. Don't get caught up in analyzing the price right now, look at what the signal and the gap are illustrating for a trend over the next three to five trading days|
|TSX||I live in Toronto and am trying to learn about stocks. One thing i'm trying to find out now is how do you determine the value of the TSX at the end of the day or any stock market's value? I could never understand what the figure represented.||I am not familiar with the term TSX.|
|buying stocks||First, whats the minimum nuber of shares of a stock a person can buy when getting started.||There is no minimum number, however you do want to have enough shares in each position to where the commissions are not a factor.|
|enquiry on option strategy||Dear Sir I am jaisri from India i like to know about the option strategy you use.In which market you use the option trading. at what point to sell the option is best ie otm/atm/itm. when the price moves up whether to sell a call or put and vise versa. At level the expiration is best .Kindly let me know about itregardsjaisri||There are different trading strategies for options based upon the projected target after a reversal signal, the amount of time before expiration, in the general direction of the market. We will be doing more option trading training on our Thursday night chat sessions.|
|book interview||I'd like to speak with someone about an interview for your web site. I'm writing a book and would like to include this site. Please let me know what works best. Thanks.||I think we are ready discussed details of the books.|
|scanning software||Scanning To technisques To Higher Profit quick Download scanner need connect to TC NET or Tc2000 just can operate?||Scanning Techniques is not a software and does not connect to any software. It is a video that shows how to do scans. Does not need to be TCNET or TC2000, you can use other software to do your scans.|
|what should i do?||Im looking to invest so i can earn a second income so to speak. what would be the best way of going about that? how much would i have to invest to make a few hundred back each month? what do i need to know and what do should i look out for?||The amount of money should be secondary. Learning how to invest correctly is more important. That would include constructing a trading program that fits your schedule. You might want to attend one of the weekend online training courses to get more information.|
|CANDLE PATTERN||IF OPEN EQUAL LOW BUY.IF THERE IS A PATTERN LIKE THIS ,PLS GIVE ME THE BOOK AND AUTHOR NAME||
I do not understand the question. There is no way to tell if an open is going to be the low of the day. The strongest signal is the kicker signal which would involve a gap up above the previous days open and immediately moving in the opposite of the previous days trend. You can read about this in my book
"Profitable Candlestick Trading" you can find on the site.
|candlestick definition||Hello, I heard the term"open candle"Any idea what this is?Sincerely,,,||It refers to the bullish candle, usually a white candle with a chart with a white background. A dark candle is refered to a filled candle|
|candles trading||in your web-site, somewhere i have readthat, by seeing candle formations in last one hour of trading in stock market, we can decide how to trade in the naxt day initial (morning) trading hour(first hour).it is my mistake that i did not write down on the spot abd no0w it is lost.can you guide me where i will get this trading plan from your web pages?i have youe 9 e-books (bought in march/april 07and i read them and trade accordinglyto make profits.please help me and oblige. thanks, kumarpal shah||Unfortunately we have over 600 pages on the website. The last one hour of trading usually indicates what should happen the next day. However, the daily chart is going to have more influence on what should happen the next day versus the last hour of trading candle.|
|rfmd||SHOULD I PURCHASE RFMD WITH THE PRESENT GAP DOWN? AND AT WHAT PRICE?||A gap down in the oversold condition is not an automatic buy. However you do want to start looking for the next buy signal. Join our Thursday night chat sessions to learn more. They are free to everybody|
|Exploration for candle stick formation||I want to get the exploration formula by which I can chose those stock which creates a candle which is least among the last 6 candle not only that the smallest candle would be the HARAMI one.Thankyou. Please send me as early as possible.||We have formulas throughout our website. If you cannot find the one that you want, please e-mail us.|
|Forex||I am wondering if I may ask on forex charts where and how do I find ema 5 ema 15 and also ema 60 in black, blue,and green respectively regards.||This depends upon the charting program you use for your Forex charts. Look for moving average tabs to give you options to change from simple moving average to exponential moving averages. Not all systems offer the option to change the colors for moving averages but that is not important.|
|canlestick 5 star trading||i PURCHASED THIS PROGRAM BUT WHEN i INSERT THEDISC INTO MY COMPUTER IT WILL NOT RUN IT. tHE DISCS CAME WITHOUT INSTRUCTIONS wHAT SHOULD i DO ?lEVI kUHN||Open Windows Media Player, Click on File and choose Open. Select the drive that the disc is in and click Open.|
|Totally Lost.||I am considering getting in to the stock market but i would like to know how much money do you need to invest to make it worth it at first.||That answer is different for each individual. The first thing I would do before committing any great amounts of the market is learn how to invest correctly. Once you know what you are doing, then your comfort level will be much better established for how much money you should have been the market.|
|forex candles||As forex is 24 hour, there are no gaps (unless after weekend). So, when trying to identify harami's, dark cloud cover, piercing patterns etc, can I modify the criteria a little by using use the same open and close prices where usually a gap is needed?||You are correct, some of the signals will not be able to be formed with 24 hour trading, but there are still a number of signals that can be utilized. As long as you realize that the gaps are not going to occur, you can use those signals that are apt to show up.|
|Identifying a candlestick pattern||I have forgotten the name of this pattern:trading period 1 - up period, Open is low for the period.Close is above open but not high for period.trading period 2:Open = close of prior period.High = high of prior period.Close = open prior period and low for the period.This pattern also has other names, for example;One can be two up periods;Or another two down periods;Another up period followed by down period;Then a down period followed by an up period.Thanks for your help!||I am sorry, I do not understand which pattern you are trying to describe. However, you are probably describing a pattern that occurs so rarely that is not worth your time or effort to try to learn it. learn the 12 major signals. They will occur 99.99% of the time. My suggestion is after that if you see what you think might be a signal, leaf through the Profitable Candlestick Trading book and see if you can find it. Again, the majority of candlestick signals occur so rarely that it is not worth trying to remember them all.|
|Three Line Srike Difference||I read the site Q&A on this, but it's so hard to see the TLS as a continuation. It looks the same as the Bear Engulfing; I know it's a 4 liner - but there can easily be 3 white candles before an Engulfing too. Is this signal rare?Thank you!||I'm not sure which signal you are referring to. Do you have an example on a chart that I could look at?|
|Technical Analysis||I'd like to find a good forum where I can learn technical analysis online.||We have a daily chat room was approximately 55 to 75 people each day. We go through all the candlestick signals and the use of other technical indicators to confirm them. This is part of our membership area. It provides a format for continuation of learning.|
|RSI settings||I see you using RSI in some of your charts and Ric also using it. The RSI period is 14. What do you use for the Avg period and is it simple or exponential?||I do not use RSI, I only use stochastics and maybe on some of the charts that have had large gap ups, I have the ADX on the chart. RSI is not required when using candlestick signals because you will be able to quickly analyze whether the strength of an individual stock price is performing better than the rest of the market or the rest of a specific sector.|
|Candle Sticks Palavar||Godd day to u out there. Pls if i may ask u; how can i trade absolute perfectly with this so call candle sticks, and hw can i identify the major one perfectly during trading, and hw can track them down, and pl. send me info that i may during trading Forex. Thks.||I do not know of any perfect trading system. However, candlestick signals provide a trading format that puts the probabilities highly in your favor.|
|candle stick and intraday trading||Hello,Nice website, quick question for you. When ever I come across a website that talks about candlestick patterns the examples that are given seem to always be using high time frames, daily, weekly, 30 min, 60 min ...do people not use candle stick charting on smaller time frames like 3,5 min. I am inyterested in this for day trading eminis but have not been able to find any one who usues candle stick patterns on these time frames???thanks,Colin Taylor||I used to trade the e-mini's using the one minute, three minute, 10 minute chart combination. Candlestick signals work just as effectively on the short time frames as they do the daily, weekly, or monthly timeframes. The signals are created by the cumulative knowledge of investors buying or selling during a specific timeframe.|
|Dark Cloud on PGN||Is this a dark cloud signal and would it be wise to short this stock?||That was actually a shooting star signal which you could have shorted this stock had it opened lower on Wednesday. The reason you would have needed confirmation is due to the fact that the stochastics were not in the overbought condition. A dark cloud signal is where prices open higher than in the on the previous days trading and closes more than halfway down the previous candle. You also want to see the stochastics in the overbought condition. A good example is JRCC of three days ago.|
|Stock Scans/Setup scans||I heard there are stock scans available on the website. Is this a free resource or a member resource? I would like more information please. Thank you.||The formulas for the scans should be associated with each individual signal. Check the signals area. We also have a very inexpensive CD showing the step-by-step process for adding the scans to the TC net scanning software.|
|Best time frame to trade Russell||I bought your candlestick CD, which is a great help in forex. Now I am trading in Russell 2000. I need your expert advise. I am trading in 3 minute time frame and taking small ticks like 60 dollar, three contract works with me, but my success ration is 50% I want to be more accurate.Now this is how I am trading, if the Doji appears in the over sold and over bought area's. I make my decision. I am using Doji as my primary indicator only. But some time Doji fails and I loose my trade. I tried to play with the combination of stochastic and doji. I fail to get the right time frame of chart and stochastic settings to take correct ticks.Pls. help to set the right time for charts and setting for stochastic.Thx||For fast daytrading, I would use a combination of a one minute, three minute, and 10 minute chart. I also used the 12, 3, 3 stochastics with a 5, 2, 2, stochastics laid on top of that. Keep trying different combinations until you find setups that work effectively for you. Also, I would not limit myself to just using the doji, use the hammer and the shooting star and the bullish and bearish engulfing signal's.|
|ENTRY POINT||I BOUGHT WFR ON 7/31/2007 AT 63.67 AND SOLD ON 10/24/2007 FOR 61.21. TODAY IT IS UP $10. I HAVE A BAD HABBIT OF DOING THIS ON A ROUTINE BASIS. IS THERE ANYWAY FROM CANDLESTICK SIGNALS THAT I COULD HAVE KNOWN TO STICK AROUND FOR THE BIG MOVES OR AM I JUST UNLUCKY AND SHOULD NOT HAVE PURCHASED THE STOCK IN THE FIRST PLACE.||No, WFR was a boring sideways moving chart. There would have been no reason to be remaining in that position. However, the benefit of candlestick signals allows an investor to immediately analyze what they should be doing when it does gap up. Note the kicker signal. If you understand what the kicker signal represents, you now know whether you should be back in the position or not.|
|Stock Scan Question||I've heard of TC scan for 3 green lights up or down. I need a description of this scan. I've searched on the web but can't find anything on this. Thanks.||
TC net does not have the red light green light system. I think that is the MegaStock program. TC net is much better for setting up your own scans, such as candlestick signals. Our homepage have a link on the right hand side for getting more information about TC net.
|money lending||what is money lending and credit risk management||I am not sure I am the best person to ask for these definitions but if you are referring to the recent problems in the money lending area, it stems from the second mortgage market or mortgage lenders that were making risky first mortgage loans. The credit risk management stems from stretching guidelines for what a borrower should be making an income.|
|Stock Analysis||Repost: I found a site (Tinmore com)that predicts the intra-day S&P500 fairly accurately but, apparently, some skill is required to read the model. Do you think their model is useful for a beginning trader?||If you are a beginner, study all the trading information you can get your hands on. Test the information thoroughly before putting your money at risk. You definitely need to be fully confident in what ever trading system you use as a beginner. There will be a major hurdle when applying that information and controlling your emotions.|
|Stock Analysis||I found a site that predicts the intra-day S&P500 fairly accurately but, apparently, some skill is required to read the model. Do you think their model is useful for a beginning trader?||See above|
|Natural Gas/ Candlestick||Hi, i work at a retail energy company.. and moving towards the trading side/ I have some knowledge of candlesticks and t/a from trading my own stock account... MY QUESTION, because now im trading soley for energy commodities... How well does candlestick charting work for energy as opposed to equites...I realize there is a whole different set of fundamental drivers for the energy side as opposed to equities and a whole lot more to take into consideration......Will becoming a devout student(taking my knowledge to another level) of candlestick t/a really help me for trading strictly in energy??.... A timley response would be great as i am thinking about buying your complete set of videos... Thanks again||Candlestick signals work very effectively for all commodities. I have been using them to trade currencies, grains, energies, the meats, and the softs for approximately 20 years. Learn to evaluate what the fundamentals that appear to be in the limelight in conjunction with what the candlestick signals are telling you. The candlestick signals tell you exactly what consensus of investors in any trading entity are thinking. This may be completely different than what the fundamental information is conveying.|
|just to let me know||What techniques can I use to interprete candlesticks on the chart||Do not understand the question|
|Day Session or All Session?||When using candlestick patterns for SHORT term futures trading such as the e-minis, is it best to use charts for "Day Session Only" - or to include the early a.m. and light night activity in "All Session" charts? It makes a difference for moving averages and stochastics. Thank you!||I just used the day session unless it was a heavily traded entity such as a currencies. Otherwise the volume is so much less than the normal volume during the open hours, I did not put too much credence on the late trading.|
|candlestick charting||If there is a disagreement between different time interval candlestick charts, how do you know which to follow, i.e., does a daily chart "trump" a 60 minute chart which in turn "trumps" shorter interval charts such as 15 minute or 5 minute charts? I primarily trade intra- day but sometimes 3 - 5 day swing trade.||It depends on the time interval that you are trading. If you're doing fast day trades, the 15 minute chart may be the one to coordinate with the one minute and five minute chart. An hourly chart may be used more for trades at last a whole day or two. It does not take too much time to go back and research which charts are working most effectively for the time frame you want to trade. Also, evaluating the shorter term charts should also allow you to extrapolate what it will do to a longer term chart.|
|Upside Tasuki Gap||VCLK formed what I would considered a weak Upside Tasuki Gap on 09/26 (weak because the uptrend preceeding it was short: six days.) The gap was not filled the third day (after the black candle) but the fifth day. Would you still condisered this a valid Upside Tasuki Gap?||Yes, but I would look more at what pattern it was forming versus a specific candlestick signal. The signal you are referring to occur so in often you get better analysis is to look at the longer-term patterns the price was creating. In this case, a fry pan bottom breakout followed by a Jay-hook pattern.|
|Drawing Elliott waves||Hello,How do i stretch elliott waves in candlestick chart? I mean, what do i need to use, the highs/ lows/ some average?Thanks.||The Elliott wave patterns are not the most efficient evaluation tools. If you learn what each of the signals are representing at reversals or for continuing an uptrend, you'll get a much better method for projecting price moves.|
|Writing a scan for a certain price range||Hi:My question is "how to write a scan between a certain price range." ie to find stocks between say $5.00 and $25.00 price range without using the range finder in telchart 2005. I need to know how to write it out myself. Thank you in advance.||
very easy, set one parameter
Stock price > $5 and Stock price < $25
|Mon Sessions||Are Monday Sessions recorded? Where to find the archive. As a member I cant access Monday sessions. Help.M Khan||The Monday sessions are archived in the Member Area of the website. Since these are for members only you must login as a member first. Then select 'Stock Chat' from the menu bar on the left of your screen. Each session is listed by date of recording.|
|Chat||I am a memberHow do get the Mon. Chat?I live in AKM Khan||go to the following link http://candlestickforum.com/PPF/Parameters/10_72_/candlestick.asp for sock chat setup instructions and the member password is in the members' area.|
|S&P eminis||How can you use your candle signals that require a gap (i.e. engulfing pattern) on the eminis since technically they cannot "gap"? When you do see a "gap" on a chart, it's really just a technical abberation.Thanks for your help, Mike||Correct, you will not see gaps in entities that are constantly trading. However, the candlestick signals still work effectively whether you are using a one minute, five-minute, or 60 minute chart.|
|T Line||I avidly read your newsletters. However, I don''t know if I missed an explanation of the T line or if it''s common knowledge. I would appreciate a definition since you frequently refer to it. Thanks in advance,Barry Miller||
The t-line is the 8 exponential moving average which has worked very effectively for RickyWayne in his use of candlestick signals combined with other technical indicators. Come to the Thursday night chat session, those indicators are usually better explained there.
|candlestick patterns||what are the best and effective candlestick patterns for day trading ???||A Jay-hook pattern will show up most often.|
|Training Sessions||Hi Steve,Are you going to have any training sessions in Chicago coming up ?||We dont have anything in our schedule for the Chicago area in the near future.|
|Secured Webpage||If I placed a buy order for anything today please cancel...just trying to test your webpage for paying by credit card...is it a secured site with the little lock symbol on the left bottom...thanks||Yes, our website is a secure website witha a valid SSL certificate.|
|Member's chat||I live in AK. How can I receive the 8 pm Member's chat. Is it recorded? Where to find the archivesM Khan||The member's chat is recorded and archived in the Members' Area. You must log in and in the Members' Area on the left blue navigation bar click on "stock chat."|
|Input of PCF's||Where in the website do you have how to INPUT the PCFs so that I can see the stocks that fit the formula?||
Click on the following link for the PCF formulas for TeleChart.
|Options||Hi:I have been trading candlesticks since 1997 ( Steve Nison books). Did not make money but learned a lot. Since I cut my losses, I have been in the market since.This year I have traded options extensively, and lost only 4 grands. Which is a lesser loss than previously. I followed bareaserch.com.What is the best vehicle for for option trading, -etf? stocks?M Khan||Read my books, "Profitable Candlestick Trading" and High Profit Candlestick Patterns." That should help evaluate your option trade formatting.|
|sector indexes||I find it helpful to beaware of sector indexes asyou suggest in your latestnewsletter. I use;bix.x- financialxbd.x- broker/dealerhgx.x- homebuildersrlx.x- retailoih- oil serviceCould you provide a sourceof other indexes, i.e.materials like steel, copper, for NU, PCU,X, etcor industrials like CAT,DE, etcThanks,John Leggett||I use TC net for my scanning. They have what they call the HemScott sectors, which consists of 174 different sectors.|
L.S. On Aug. 17 I sent you an e-mail regarding a specific problem I have with candlesticks. This is about 120 hours ago. Can I still look forward to an answer?Fred
|Sorry for the delay, have been enjoying the lakes and wineries of upstate New York for the past couple weeks.|
|query regarding F&O||I purchased a stock future in the beginning of the month. During the month 1:1 bonus was declared and the stock became ex-bonus in some days during the month. The prices of equity and future both have gone down. In this case what effect will be taking place to the future-holder ? Will he dimme to have to futures with him instead of one ? Please explain.||Please clarify the question|
|Classifying the candlesticsignal towards stochasti||Example: Stochastic indicate the stock being in a downtrend (stochastic = around 50 or 60), however, the stick indicates a buysignal, let's say an perfect Hammer far down in the chart. The next day an entry occurs with price in the upwards direction, as predicted from the Hammer-signal (seen in many charts these days...(mid-august -07)). Do I classify the stick as more powerfull than stochastic and enter the trade if the overall markets indicates an open fairly in favor of a reversal? Best regards!||Yes, the candlestick signal is your predominant signal. The stochastics are only an indicator of where the trend is at the time. Of course, the optimal time to see a candlestick reversal signal is when the stochastics are in the oversold condition. Witnessing a candlestick reversal signal when the stochastics are not quite to the oversold area will still indicate the probability that a reversal has occurred bought be more diligent in watching for a quick bounce followed by another pullback.|
|Candlesticks||L.S., Starting with the assumption that the end (closing)of one timeframe is at the exact same moment the opening of the next timeframe, I Logically assume that the closing price of a timeframe should be the opening price of the next time frame as there is no timespace between the closing and opening of these timeframes. Projecting this on candlestick graphs it seems logical to assume that the top of the body of an uptrend candlestick (bullish)should be at the bottom of the body of the next bullish candlestick or at the top of the body of the next bearish canlestick, including the "Doji". In view of this how do you explain one candlestick "engulfing" the other?Thanks for your answer.||Your assumption is true during a continuous trading format, such as an intraday chart. However, on a daily chart where you will have 16 hours before the next open, you are more apt to see gaps away from the previous close. A daytrader will not see gaps from the previous close as often. If you are daytrading, modify your anticipation to the signals that are more likely to occur.|
|Commodities & Futures||Can you suggest a scanning software that I can use withcandlesticks for trading commodities and futures, TC 2007 price data does not support the forementioned.||No, I am sorry but I have not looked into scanning for commodities. Since there are a limited number of commodities to review I am able to quickly evaluate without scanning.|
|No Gap Interpretation||My charts have no gaps, They are continuous. How do I interpret the patterns with gaps? Thank you.||
You might want to review the Free Resources section of our website where there are several illustrations and explanations for gap patterns. For example, the Upside Tasuki Gap.
|Day Trader Designation||I am wondering if there is a way around the day trader designation I am not aware of. If you place five round trip day trades in a rolling five day period you are designated as being a day trader and must then maintain $25,000 balance in your account.To me that means that if I place one round trip trade each day (an entry that is executed and a stop that is tripped) for five days I am forever designated a day trader and I have to maintain the $25,000 balance in my account.That seems a bit restrictive to me - having $25,000 doing nothing - so I must be missing something. Can you enlighten me. Am I interpreting the rule correctly and if so am I missing a way to get around this rule so the $25,000 doesn't sit unused.Thanks in advanceGary||
You might try reviewing the U.S. Securities and Exchange website at www.sec.gov or www.patterndaytraderrule.com
|Trailing Stoploss||Can I set Trailing Stoploss that automatically operates without my intervention. I am from India and out here one has to manually move stoploss orders as the trade moves in the profitable direction so one has to constantly be watching the trading screen. Is the option available in Exchanges in the US and Australia ?||Yes, there are many online brokerage programs that have stop loss capabilities. That eliminates the concern of where you are located. You might check with Schwab or E*TRADE.|
|7/19 Stock Chat||The 7/19 stock chat does not play - missing Codec error. However , all other stock chats are fine indicating the COdec is installed||
Try to install the codec again from the following url: http://download.techsmith.com/tscc/tscc.exe
The video is working fine and haven't had any other known issues with it.
|Problems with a cd I purchased||I recently purchased the 2-day seminar cd set. The disc entitled "High Profit Patter Scanning Techniques" contains audio only. I have tried it on Windows Media, Realplayer and Nero Showtime and none of the programs support the ICM.tscc content that is on the disk. What software plays this, or do I have a bad disc?||
Scanning techniques was recorded in .avi format and requires you to download the techsmith codec so that it can play in your Windows Media Player. you can download the codec from the following link:
|Short Cuts||I am looking for a source to provide me accurate UP TO DATE, candlestick analysis...including intraday. (I use candles as confirmation, along with fibs, a self developed t/a, and of course blind luck!). Is this something you provide both at the end of the day and intra day?||It appears you are looking for live streaming data. We provide educational training. You may want to look into TeleChart 2007 Stock Analysis Software.|
|the stock market||how do i begin?||You probably want to read "Profitable Candlestick Trading". That book will give you a comprehensive understanding of why and how candlestick signals work correctly. From that point, you can start investigating the different products that would go into much more detail for specific areas.|
|Rick Wayne presentation||Got in too late to plug into Rick Wayne's teleseminar. If it was recorded, please send link. Appreciate email@example.com||Sorry you missed Rick's live session. We recorded the session and it is available under our Stock Chat Category; dated 7/19 Stock Chat.|
|flat top or bottom on one candle||why does a candle that close at the very top or very bottom seem to get a reversal on the next candle. I would think that is bullish or bearish but i see many times a reversal on the next candle. Is there a name for that kind of candle? ty||A candle that does not have any shadows on either end is called a Maroboza, a shaved head. If you see it occur after an extended trend, it usually means there is panic short covering at the top or panic selling/margin calls at the bottom. You are right, it is usually the precursor of a reversal.|
|Candlestick Pattern||I´d like to know what is the difference between the bearish engulfing (reversal pattern) and the bullish three-line strike (bullish continuation pattern)Thanks,Mauro.||
The Three Line Strike is a four-line pattern that occurs during a defined trend. It represents a resting period before the trend continues. Further explaination can be found for the Three Line Strike in our Free Resources Category.
|new to trading||Is all this material in your book and on this website suitable for a complete newbie to grasp. I did go to a 3 day training class, so I am starting to understand some of it. Which for me is not bad considering before the class I knew nothing!!||
We believe both books are perfect for new or experienced investors. The second book, High Profit Candlestick Patterns will review the Major Candlestick Signals, plus includes information to help with 'Trading Rules' and Entry and Exit Strategies.
Be sure to join us on Thursday evenings for our Public Stock Chat sessions to further improve your education.
|Day Trading||I have been studying the candle signals. MY question is, while Day Trading What chart should I be using? Different time charts will show different patterns. Should I use the 5 minute chart and use the 10 minute chart for confirmation? Thank YouJennifer||That will be dependent on the time frame you like to trade. If your trading relatively fast, a combination of the one minute chart, five-minute chart, and 10 minute chart may be most effective. Somebody trading less aggressively might use the five-minute chart, 15 minute chart, and 30 minute chart combination. Find the time frame you like the hold. Then evaluate how the fastest chart coordinates with the next fastest chart. A third confirmation is the slowest chart. You will have to extrapolate what the second and third chart formations will be upon a reversal in the fast chart.|
|Stochastics||Should I buy a stock if it's stochastics are in oversold area with a candlestick buy signal,but it's weekly stochastics are above 70 with crossing of %K & %D and both are curling down ?Thanks||A daily chart that is showing a buy signal in the oversold area can be bought out with the intention of being more nimble if the weekly chart doesn't start conforming. When the weekly chart is showing opposite of the daily chart, you should anticipate being in and out of the position much faster, when the daily chart start showing sell signals.|
|when to sell||how do u pick a good stock to invest in?||Look at our CDs on scanning, the simple scanning techniques provided by candlestick signals will provide numerous of opportunities, both long and short, each day.|
|Day Trading||I have started day trading and have been using candlesticks to determine at which point to buy. n you're opinion are candle sticks feasible for day trading?thanks||Yes the candlestick signals are very good for daytrading. They are the graphic depiction of investor sentiment. They work as effectively on a one minute chart as they do on a daily chart or a monthly chart.|
|forex trading||hello expert i would want you to explain to me on how you excel in your forex trading thanks||The candlestick signals work very effectively for analyzing currencies. When setting up Forex trades, the analysis of each individual currency can then be applied to establishing the best trades.|
|50 MA||When operating in for instance 15 and 60 min. charts I find it more reliable to work with the breaks, up or down from the 50 SMA than Stochastic (12/3/3). Could you confirm this observation? Perhaps a stupid question, however, I like confirmations of my observations... Best regards!||That could well be. You might also want to change the settings of the stochastics, put together whatever works. If prices appear to be seen to move well at the MA's. see if you can coordinate new stochastics settings with those moves.|
|gap between two days candelstick chart||if any stock raise a gap between two trading session and their after that stock go in upmove. Is it necessary to fill up that gap in future or not ?pls let me know.||Most gaps will get filled. However, they may not get filled on the current price move. It may be months later. So use the gaps to your advantage based upon a current trade, not what it will be doing weeks or months out in the future. You should not be positioned in the same direction when that gap eventually gets filled.|
|Candlestick pattern||I've been attempting to search for a candlestick pattern with no success, hence my question to you.Could you please explain what "3 little sisters" are in candlestick terms. Also how are they best interpreted & which timeframe would best suit the (potential) set-up possibilities?Thank you!regards,Graham.||I am not familiar with the term three Little sisters. And because of that, it can probably be assumed that what ever that formation or signal is does not occur very often. Probably so infrequently that it is not worth the time and effort to even try to learn what it might represent. That is why I profess just learning the 12 major signals, they occur very often and will be the instigation of 99.9% of all trade evaluations.|
|tee-line||I intend to create Tee-line in my tech-sofware. what is to be taken into a/c ? is it on close or low of the day? what is difference between extended and exponential moving average ?||An extended moving average is one that is pushed three days ahead to try to project where the current trend may be moving to. The exponential moving average was more weight on the most recent price actions and less weight on the price actions that occurred a while ago. The tee line is merely an eight exponential moving average.|
|Candlestick Forum Monthly Membership||I recently bought Steve's book and liked it. I am interested in the forum Candlestick Forum Monthly Membership but wanted to try it out for a month if possible. Do you have a 1 month trial to your Candlestick Forum Monthly MembershipThank you and h ave a good day,Sam||
We are not able to offer a 'free trial' because immediately upon registering you have access to over $300 of products. Plus, this month all members receive a FREE download of our training CD on how to trade the Kicker Signals. An additional value of $43. Each month Members receive a new training CD for FREE as part of their membership benefits.
We hope you join our trading community.
|system||hi, i just joined your group and my question is, do you guys have a system that scans the market and lets us no what the best canidates are for a fast moving stock, i trade options mostly naked calls and like to get in and out of the options within a day of getting in them. thanks phil||Yes, we use the Worden brothers TC Net program. It allows us to easily scan for the best candlestick formations setups each day in less than 20 minutes. We have there software link on our homepage. We also have some training CDs that demonstrate how to set the program up and use it correctly.|
|Stop Loss Protection||Do you have any suggestions on how to avoid incurring a loss resulting from a big gap down due to news prior to the market open? The price action for MTRX June 20, 2007, is precisely what I am talking about. I had a stop limit in place but the stock traded through that with ease due to news prior to the open. By the time I got back to reviewing charts at the end of the day I had incurred a big loss (well not really because I still own it since my order was not executed). Is using a stop market order the only way to protect against something like this? I got caught with ADLR this way too so I need some help so I can avoid this in the future. Thanks in advance.||There is no way to protect yourself against a surprise announcement. However, the use of candlestick signals is usually going to put you in the right position at the right time. For every situation that you get a bad trade, you will usually get three to four situations that work correctly. The important thing to learn is what do you do once you see a situation that has gone against you. It is just as important to know when to get out of a trade immediately.|
|Daytrading||Is it possible to only use candlestick as a technical analys method for trading in short positions, like 1-15 minutes?||Yes, the candlestick signals work just as effectively on a one minute chart as they do on a daily chart. In the past, I used the signals on a one minute chart, five-minute chart, and 15 minute chart combination to trade e-mini's very successfully.|
|Charts||Do you have cnadlestick charts on you web sight?If not, where can I find agood chart sight?Will you be giving any option recommendaitons?Thank for your coutesy in reply.||We use Worden Bros. TC net program for our charting services. You can use any charting service you want when utilizing candlestick analysis. All trading services now have the capabilities of applying candlestick signals.|
|Daytrading||Hello!I am a guy from Sweden.I would be very happy if you can help me with some guestions about candlestick:1. Is it possible to only use candlestick for microtrading, short trading 5-15 min chart?Some people says that you must have many nethods to trade with, but if you are a microtrader you must be quick, so you do not have so much time to analyse.I do hope that I can be a daytrader some day, buy and sells stocks only during the day.2. Can you recommend a good DVD or a book that explain how to trade with candlesticks like above?There are a lot of DVD and books on the market, but it is very difficult to decide wich is the best.Hope that you can help me.Best regardsPer||Candlestick signals work very effectively on the one minute, five-minute, and 15 minute chart combination. You might want to look at some of our training CDs. They are very concise and to the point.|
|After hours trader and membership||My trading partner and I only do after hours trading. Can you tell me the benefits of spending the money to become a member. It seems like most of the benefits are for people who can trade during the day.Thanks||
The only membership benefit you would miss during the day is our Live Members only Trading Room. While this is extremely popular and provides excellent assistance during market hours, only about 35% of our members are available during the day to participate. The majority of member benefits are structured to provide training support through free monthly videos and weekly evening chat sessions with Stephen Bigalow. These chat sessions on provided through the same format as the Thursday evening public sessions. However, the Member Only sessions are held on Monday evenings and Steve is available to discuss specific stocks of interest, current trade positions, and answer your questions.
For a sneak peek go to our 'Membership Benefits' category for examples of each member service.
I hope this has been helpful. Feel free to call in if we may answer any questions.
|3 Stochastic Settings??||Hello,On one of your videos I have you talk about someone in the chatrooms using 3 stochastics settings for better indication. Can you tell what those settings are?Thank youMary||
Stochastics are only an indication to show a condition of the trend. Most of our analysis is based upon settings of 12, 3,3.
For long term investing, 14, 5, 5 is the best setting. Swing trading, 2 day to 10 day holds, 12, 3, 3 and day trading, use a combination of 12, 3, 3 and 2, 2, 2.
|T-line||On you new letters, the T-line looks like a moving average. Can you please tell me what type (simple or exponential) and the number of periods?||The T-line is an indicator discussed in our stock chat sessions. It is the 8EMA; 8 Extended Moving Average.|
|Chat Password||What is the new chat password?||Log in to the Members' Area and click on 'Members Trading Room - Live Chat Room' link from the left nav bar.|
|cancel my order yesterday||Yesterday 6/4/07 Mr. Javier ordered Gaps at top and bottom with ebook.charge $65, but I till now I don't have the ebook and any email response. So, Please cancel it. Thanks.||
There was an enexpected event yesterday in which I had to be out of the office and I wasn't able to send your ebook and I do apologize for that. If there is something we can do to make this up to you, please let me know.
|Stop Loss Protection||I recently purchased the 5 Star Star Trading Plan and after having gone through the material for the first time one thing that was taught in your training session was noticeably missing - that being any mention of the "T-Line". My question is this; "When setting stops for the initial trade, a trend or taking profits, which takes precedence, the candle or the T-Line? Sometimes but not always the two seem to be in conflict.ThanksGary||If a trend has been persistent, the sell signal needs to be more compelling. If you receive a candlestick sell signal but prices do not come down below the T-line, give it more leeway. A candlestick reversal signal with prices coming back down through that the line provides more information that the trend has now reversed. Again, this is after a trend has been working consistently above the t-line or an extended time frame.|
|Sectors and indexes||Is there a common set of indexes that are used to view the status of the common sectors. I found in a previous newsletter the list of sectors, but where do I go to view them? I was assuming I could use candlesticks and the other techniques to look at an index of the sector to see where it would be at.Thanks, Keng||Each scanning software usually has their own sector universe. We use TC net that has a sector universe of approximate 240 sectors. We can analyze those sectors on the same parameters as we would in individual stock.|
|tee-line||what is a tee-line ? the basis of its calculation ? how to use the same ?||The T-line is an indicator discussed in our stock chat sessions. It is the 8EMA; 8 Extended Moving Average.|
|japanese or north american||hi, i trade forex and often used Reuters3000 extra....my question is, is the candlestick in Reuters Graphic a japanese candlestick or North-american barchart? From what i know..they are emphasized on a different thing. Japanese candlestick focus on Today's Close and Today's Open...while North american barchart focus on relation between Today's Close and Yesterday's Close.....is reuters3000extra's candlestick reliable enough? thanks--joko susilo,jkt||I do not follow Reuters, it is more important to follow the Japanese signals based upon how the price opens after the signal of the previous day.|
|tee lines||In your recnet book and on your website I don't find a description of what a tee line is and how to define it. Recently it has been used in the newsletter. What is it and may I suggest that it be included in your next book. by the way I find your current book very helpful. Thanks, Homer||The T-Line is an indicator discussed in our stock chat sessions. It is the 8 Extended Moving Average.|
|I'm doing something wrong...||Hi,I have followed the daily stockpicks and tried to update my stop loss positions according to the summary table but the last weeks I have lost almost 1000$.Januari-april approx plus/minus 0.My question is, should I take the profit more often than Steve writes in the summary table? Do you have any tip of a good strategi for profit/loss management?I do have all the books so you can refer to any chapter or so.But in the books I got the impression of only follwing the candle signals. And in the forum, some users writes about profit taking after a few %. I do something wrong and hope you can point out a direction :)Best regards,Christian JohanssonStockholm,Sweden||Let the markets tell you what the market is doing. If you see that the profits are disappearing after some very short-term swings, go ahead and take profits. This is where you should analyze what the market is doing. Sometimes even during an uptrend, it can be witnessed that there is only short-term movements in price actions. If that is the case, do what the market is telling you to do. There will be times when the market trades flat and a price trend in a specific stock will moves steadily upwards. Read what the market is giving you.|
|Order entry||If I am looking at canglesticks on a candle basis, can you recommend a process for entering a trade.The problem I am having is if I do a Market Order on open, I can get a price that is totally out of whack. I am using IB and was thinking about doing a timed order that would buy if the price was above the previous day, but below some upper level, and then have it execute sometime after 10:00am.Thanks.||We have an entry and exit strategy CD. You may want to analyze what the current markets are providing. There is nothing wrong with paying up for a stock. You may want to put buy stops at a price above the previous days close if you cannot sit and execute trades during the day.|
|Screening for reversal signals||Steven mentioned a screening tool on Vince Rowe's show on BizRadio, could you tell me was it Telechart? And what are your paramiters for the screening of dojis et al?||
We use TeleChart for screening. The pcf for the Doji and many other Candlestick Signals are in our website under the Free Resources Category> TeleChart Formulas.
|candlestick color, hollow or solid?||doe the solid color red candlestick signify a difference in pattern quality instead of a hollow color red?Should we take into account of whether the canldestick is hollow or solid in our pattern seach and analysis?What is the difference in the hollow as compared to a solid candlestick?Rick||
A hollow candles forms when the stock closes higher than its opening price.
A solid candle forms when the stock closes lower than its opening price.
There is an illustration on the formation of the body in our 'Basics of Japanese Candlesticks" exlanation page.
|ema's 15 min||i missed the lesson on witch ema's are too be used (or prefered by you) when using the 15 min intraday chart..thx..||Ricky Wayne from the chat room recommends using the 8EMA. We have found it to be very effective also.|
|hanging man PCF||Hi, I tried to use your hanging man PCF in Telechart. It gives me hundreds of results, but most of them are not hanging man. The hammer PCF works fine. Can you help? Thanks,George Kern||
There is an alternative boolean formula you may wish to try.
|Book to studt for a GBPUSD forex trader||Which is the best buy for a GBPUSD foreign exchange trader?||Use the 12 major signals package to learn how to analyze the direction of each individual currency. Then you can analyze which combination will make the best trades.|
|An iMac and the||You had suggested I try posting a question on your forum re using CDs on a Mac, particularly an iMac with an Intel processor.I couldn't find a way to post although I went to "Discussion Forum." I'm also wondering if you happen to have any more information regarding this issue?Thank you.Diane||
A Mac that can run Windows operating system can play our videos.
|stock picks||i would like to know the stock picks that bigalow picked for today 4 13 07 on wbbm radio||
IAAC on the next bullish candlestick signal, it is in the process of forming a Jay-hook pattern.
PGIC after the big gap down doji, it should now be in an uptrend. It will be a good one to buy on the pullbacks.
|Australian Data for TC 2000||I am very interested in candlesticks and have joined up for a year STEPHENSMITH49. Does TC2000 come with Australian SX data, if not what similar package would you advise on that does||I do not think TC 2000 as foreign market data feeds yet. But I do think they are working on that process.|
|Bollinger Band settings||Great Website! I found out about your site listening to WWW.CFRN.NET! Thank you very much. Besides stockastics, Do you have a favorite setting for bollinger bands in swing trading? Period, Width, MA.Thanks Again!||We do not use Bollinger bands as much as we use the 50 day moving average and the 200 day moving average. We also use the eight EMA for setting up short term trades.|
|Belthold||Please send the TC2000 scan for BeltholdsIt was given out on 3/29, but wasn't visible on replay.THANK YOUSpencer||
PCF formulas are available in our Free Resources Category at this URL link; http://www.candlestickforum.com/PPF/Parameters/16_263_/candlestick.asp
The Belt Hold is:
|Newsletter March 22, 2007||Ricky Lane was scheduled for "special training session...early next week." Was this a Monday/Thursday, or special day. I missed it.Please clarify for thisweek ended 3/30/07. Thank You. C. W. Eggert||We will be trying to get him on this coming week, he has been traveling. Will send notices out when he will be on.|
|PCF for Abandoned baby||Last thursday nite, Steve B mentioned that there was a PCF for an abandoned baby. Can U forward to me?||((C1 = O1) AND (O2 > C2) AND (C > O) AND (L2 > H1) AND (L > H1))|
|DAR||Do DAR & CBHI represent true kicker signals with two down days in an uptrend?||Neither chart shows a kicker signal. A kicker signal is an open on the second day at opened below the open of the previous day and went in the opposite direction. Please look on our website for the description of a kicker signal or you can find it in either one of the books.|
|forex||whats going to happen to british pound?||As of Friday, the bullish engulfing signal at the end of a flat trading area will be confirmed on a positive open on Monday. Look for it to move higher which means the dollar should move lower.|
|Thank you||Have brought the High Profit candlestick patterns from yourselves just finished reading it and would just like to say its the greatest book ever, many thanks againRegardsAlex Burd London England :-)||Thanks, find a good-sized group over there and I'll come over and do trainings.|
|T LINE||WHAT DOES T LINE MEAN||It is one of the indicators that RickyWayne has shown us in the members chat room. It's an eight exponential moving average. He has discovered that anything above that level is a good buy, anything below that level should be sold. That is just a quick explanation, he can tell you much better when we have his next training session.|
|PCF for Abandon Baby||PCF for Abandon Baby||((C1 = O1) AND (O2 > C2) AND (C > O) AND (L2 > H1) AND (L > H1))|
|PCF||Last night, Steve mentioned that there was a PCF for the candlestick "abandoned baby." I looked through the PCF formulas but could not find one. Does one exist and if so what is it? I am a TC subscriber.||((C1 = O1) AND (O2 > C2) AND (C > O) AND (L2 > H1) AND (L > H1))|
|Chart Smart||I am using chartsmart. In my stochastics, it says, The stochastic indicator is plotted as the %D line and the %K line with values ranging from 0 to 100. Typically, values above 75 indicate a strong upward trend has occurred and the price is closing near its high. Values below 25 indicate the price has been falling and that the price is closing near its low.%K (Fast Stochastic) = ((Current Price - lowest Low N Period) / (Highest High N Period - lowest Low N Period)) * 100%D is a smoothed version of the %K line and usually a figure of 3 to 5 is used. %D (Slow Stochastic) = 100 X (the N period sum of (Close - Low) / the N period sum of (High - Low) )The theory behind the Stochastics indicator is that in an upwardly trending market prices close nearer to their highs while during a downward trending market prices close nearest to their lows. One observation with stochastics (either %K or %D) is that if they fall below a specific level (ex. 20) and then rise above that level it may be a buy opportunity. Similarly, if it rises above a specific level (ex. 80) and then falls below thatlevel it may be a sell signal. When the %K or %D lines begin to flatten out this is can be an indication that the trend will be set for a reversal.Another interpretation often suggested is to buy when the %K line rises above the %D line and sell when the %K line falls below the %D line.Then in the Daily Chart Stochastics Line, what percentage do I fill in for %K and %D ?Thanks.||I use 12,3,3|
|Chartsmart||I'm using Chartsmart software....as it includes the Canadian markets....But I'm having problems configuring it. It has 2 candlestick options…Arithmetic and Logarithmic…..which one do I pick? Also it asks if I want it to be split adjusted….Thanks.||Arithmetic is the configuration you want to use. and you want the split adjusted charts|
|dow mini||sir/madam, i wish to day trade the dow mini , do you have a service that will help me do that,michael||Not a specific service, however I used to trade the S&P e-mini's very successfully using candlestick signals on the one minute, 5 minute, and 15 minute chart. Once you recognize the 12 major signals and learn how to use them at the correct confirming indicators, you can trade any market in any time frame.|
|jhook||for wordenbrothers i need the formula that rick gave out befor vacation its the for the jhook thanks||The TeleChart formulas are in our site under the Free Resources category.|
|delivery||hi, I'm living in Iran, How I can buy your products and services.By the way,I have a MasterCard to use.thancks in advance.||
You can place the order from our shopping cart (disregard the "state" field for non-US orders)
Call us at 1866-251-4015 to place the order over the phone.
|cd/dvd download on Imac||Will your cd's/dvd's down load onto the new Apple Imac's/. And how about their download compatibilities?||Our DVDs should play on most DVD players but our CDs are only for Windows. Only the Macs that can run Windows can play our CDs; same thing for the downloads. Both are WMV files.|
|projecting price targets||i have no interest in individual stocks, therfore would the cd (projecting price target) be of value to me? thankyoummc||Yes, these are applicable to stocks, bonds, commodities, and currencies.|
|stochastic||refer to pg 25 of your textbook...Just to confirm, u are refering to the FULL stochastic...right?||I am not sure I understand your question, there are a fast stochastics and slow stochastics. We prefer to use low stochastics. Stochastics are only an indication to show a condition of the trend. Most of our analysis is based upon settings of 12, 3,3.|
|PCF for TC2007||Sir, what is the different between the PCF you are selling on your website ie :PCF Vol 1 /2 & 3 with the one under your free resource ie :"Current formulas for finding candlestick signals are in our website under Free Resources>TeleChart2005 Formulas. These may be copied into individual pcfs or Easy Scans." Pls advice.Tq...||The E-books contain criteria and trading psychology information on each of the candlestick signals, while the Free Resources areas lists pcfs for quick cut-n-paste only.|
|Tweezer Tops||I recently asked a questions regarding tweezer tops. You sent me a two page article along with pictures. I have a new computer now and would like for you to resend the info again if you don't mind. Thank you so much!!Andrea Shook||If you are spending time looking for tweezer tops and bottoms, it will probably be an ineffective search. They do not occur very often. You want to maintain the knowledge of tweezer tops and bottoms so that if you see a candlestick reversal and it has also formed a tweezer top or bottom, it provides that much more confirmation that a reversal may have occurred.|
|Thursday Forum Replays||Unable to view live forum due to other committments. Would like to view replay SOON after session ends. Can I copy live to hard drive or is download available before next days market opening? Thanks||The chats are recorded by a third party and aren't delivered to us until the next day, usually after market opens. You can record live on your computer with the appropriate software, but not through Hotcomm.|
|Ricky Lane Session||Notice of his Short-term session states TUESDAY NIGHT AND THURSDAY NIGHT...Please Clarify.Thank You. C.W. Eggert||Next thursday night March 1|
|Candlesticks and subjectivity?||Hello Stephen,As a purchaser of you excellent book Profitable Candlestick Trading, I have recently been told by an ex floor trader who helped develop the software 'Candlestick Forecaster' that after working with this project, he decided candlestick charts produce too many subjective signals.He now sticks to bar charts.Do you have any comments about this?I am thinking of purchasing more products to advance my knowledge in this area, but I must be honest, he has made me a little apprehensive now.He did add that this was just his own opinion. Because I have only ever learned from candlestick charts I find it a bit difficult to revert to bar charts.However, somebody who has been that involved made me think that the answer might lie in simplicity - KISS!Are not bar charts just that?Look forward to your reply.Best regards,Sue.||
I have not worked on any software to identify candlestick signals. Because it is a visual analysis, there are too many formulas that are required. The candlestick signals have an immense amount of information built into them. We recommend that you learn how to use the 12 major signals. You will then have that information to analyze any market chart. Stocks, bonds, commodities, currencies will all be simple to analyze when utilizing the information built into the candlestick signals. Take a few weeks to learn them and they will be with you for the rest of your life. You will never use bar charts again after learning how to use candlestick signals correctly.
|pcu||i was hoping pcu would be on the stock chat..wondering your thoughts on this copper stock.. the chart looks over bought and ready too come down.. on the other hand it looks like its ready too spring back up (j hook) i have june 60 put options on it and getting scared too say the least lol.. help me out plz.. thank you||Sorry this is so late in answering but your analysis is correct. That is a major advantage of candlestick signals. Knowing when there is indecision on a pullback allows an investor to analyze what might be the next move. Hopefully you covered your put position on the confirmation of a Jay-hook pattern.|
|brokerage company||Does Mr Bigalow have any recommendations for a good Brokerage company that has quality charting and pre-programed candle scans (I had TC Net, but it has no canned candle scans). Love his tapes and thursday sessions! Thanks||We have not found any pre-canned candlestick scans software that is worth anything. The major problem is that the analysis is visual. What we can evaluate in the matter of a split second takes a multitude of formulas. We suggest learning the 12 major signals and how to use them correctly and you will be able to correctly analyze any trading markets for the rest of your life. As far as brokerage firms, that would be a question to ask in the forum or the members chat area. That way you would get a multitude of answers.|
|Total cost of membership||What is the cost to go through the training and then what are the continueing costs||
Are you asking about the 2-Day Seminar in Houston? The cost for the seminar is $1,900 to non-members. However, by signing up as a Monthly member at $97 per month, the member rate for the same seminar is $997.
If you desired, you could sign up for monthly membership at $97, obtain your seminar seat at $997 and save $806.
There are no continued costs. You may cancel your membership at any time and have continued access until the end of your enrollment period.
As mentioned earlier, you are under no obligation to continue the automatic Monthly Membership.
Please let us know if this answered your question.
|Candlestick training||Dear Sir/madam:I am new in this bussiness of investing, in fact I am still going through the books, have not invested in anything yet. I am interested in learning how to understand the candlesticks, I did buy some books on the matter, also have gotten some info from the internet, but I still do not know how to look at a chart and interpret the information as a whole. Can you please suggest a book that can help me learn the candlesticks.Thank you very much.P.F||There are a few good books on candlesticks on the market. Most of them are general books on candlesticks. "Profitable Candlestick Trading" consolidates the information needed for making profits with candlesticks. Start with that and attend our free Thursday night training sessions. That will start bringing all the information together for you.|
|DVD's?||Is "The Major Candlestick Signals - Item Number: MAJSCAN" an actual DVD or CD or a file to download? If it's a CD is that the same as a DVD, you get a picture and sound on the monitor? (I'm not real left brained technical).||We have it available in all three formats. CD, DVD (special request) and a downloadable file. All three are exactly the same, they have audio/video.|
|tweezer tops & bottoms||What does the tweezer top and tweezer bottom formations look like?||
The simple explanation is - Two or more candlesticks with similar highs (tweezer top) or similar lows (tweezer bottom). The visual alert for either is the potential for a reversal in price movement.
This 'Ask the Expert' area is not intended to carry images, so a member of our Candlestick Forum Team will send you a personal email with the images attached.
|scanning software||Is anybody aware of any stock scanning software that will scan for candlesticks LIVE?||Worden brothers TC net platinum forms candlestick signals live.|
|Recent Formulas||What is the plan to test the J-Hook, Belt Hold (2) PCF patterns by the Candlestick Forum?||A lot of the testing results can be found on our members chat area. Members have been an integral part for writing the formulas and tweaking them.|
|Best 4 Candlestick patterns?||Which & in what order are the 4 best candlestick patterns? Starting with the Kicker signal?I am thinking KickerGap EngulfingJay Hook Patternmaybe!What does your experience say?Thank You,Sterling Prichard||It is very difficult to quantify the different patterns and signals. The reason is that in some market conditions, one particular signal or pattern may be working, the next month another signal or pattern will work better in those market conditions. If you recognize the 12 major signals and the major patterns, which is not difficult, you'll be prepared to take advantage of them when they occur.|
|Tele Chart quest.||Greetings,Just came across something I saw on your site some time ago that I archived. Can you please explain what the PCF formulas are? How am I supposed to use and apply this w/ the use of candle charting? For instance what doesDoji ( O = C ) mean and how does this build up toDoji yesterday ( O1 = C1 ) ? Please give me just a lead idea from my question as I am not looking for a long tutorial answer ( in all fairness to you ). I see there is software you are selling, but I would like to know if this above my head or do I need it w/ my candle studies.Thanks for your time and patience.Respectfully,John Tripi||
Glad to help. The Doji pcf means, the open price is equal to the close price for that time period. O=C
C1 means close price one day ago
O1 means open price one day ago, and so on.
We have a list of pre-written pcfs free in our Free Resources category on this page http://www.candlestickforum.com/PPF/Parameters/16_263_/candlestick.asp
Additionally, the Worden website has a discussion board where they may provide more 'tuorial' information.
None of this is over your head, but we have already written the pcfs for the major candlestick signals, plus a great list of formulas provided by our members. All free for you to use!
|help w/ interpretation||Can you please help me interpret DOCC. It looks as though it has jumped from one Mov. Ave. to a higher one. I checked my flashcards I purchased from you but cant seem to find a close resemblance. Can I expect a good trend up and for how long? Please help me find the correct flashcard, I thought it could be # 39. Thanks fo all your help and newsletters.Respectfully, John||DOCC - the gap up from early December did not show any major signal other than a piercing signal in late November. With the lack of direction after the gap up, I would suspect that this was a buy out offer at somewhere in the $10.50 area. Otherwise, after the large gap up in price, the trend would usually be up from there.|
|outside reversal week||ok, last week's candle was a doji on a number of indexes, and so is this week's candle considered outside reversal and therefore heavily bearish? does it now confirm an evening star doji?||My charts do not show a doji at the top last week. The Dow did form a doji two weeks ago with a spinning top signal last week. The NASDAQ formed a dark cloud signal two weeks ago but had a spinning top last week also. This spinning top of the weekly charts does not show decisive selling. The trend of the markets has been slow and steady for the past six months. A reversal of that trend requires a very convincing sell signal. The longer that trend persists, the more convincing a change of investor sentiment needs to be seen. Currently, all the indexes appear to be in the area that does not negate the uptrend - YET|
|Stock chat replay||When I try to play a stock chat I ONLY get the audio. The vidio just flashes up and then is blank. I have windows media player.||Make sure you have the latest version of windows media player and you might also have to install the techsmith codec to play .avi files. you can install codec from the following link: http://download.techsmith.com/tscc/tscc.exe|
|Thurs Chat||When will it be available for viewing?||
The stock Chat is available for viewing now. It can be found on the following link: http://www.candlestickforum.com/PPF/Parameters/10_1325_/candlestick.asp
|stocks||How should, and how do I get started in the stock market||
This is a wide-open topic. I would begin with joining the Thursday evening Stock Chat. Begin with the 12 Major Candlesticks Signals Tutorial so that you will begin to interpret price-movement in the stock market. Most importantly, be sure to paper trade before you put your cash on the line. There is a large amount of free educational resources in our Free Resources category.
Please feel free to contact us when you have any questions.
|charting service||What charting service is a available that uses candlesticks and also moving averages?||Several of our members use the TeleChart software program which allows for candlesticks and moving averages. Although, almost any program will offer these as a standard charting option.|
|evening star doji on weekly||didn't you guys see the evening star doji on weeklies of some of the major indexes?i would think this is pretty significant, am i wrong???||No, our charts do not should Evening star signals. The DOW shows a doji on the weekly but not yet confirmed as far as a sell signal and the trend is still the predominant factor. The trend has not yet been violated.|
|which trading bring higher returns for long term?||hello all, this newbie would like to ask some qs Im planning to buy futures as an investment, for long term. I know that for short term there are a lot of fluctuations so a trader can make a quick bucks, but if we look in a long term perspective, maybe yearly, which commodity that the price hike mostly( is it metal, energy, or maybe palm oil). How many percent maybe the previous data/record if anyone knows?and how exactly the futures trading differ from stocks trading?else ;), what are the media/ website if we wanna trade online (I'm staying in Singapore)? is there any fee required?||To analyze long term commodity price moves, you might want to use the candlestick charts on a monthly basis. However, as you mentioned, the longer the outlook, the higher the probabilities of many influences occurring in between time. Candlestick signals are much better utilized for projecting where price trends are moving now.|
|Blue Ice Failures||Dear SteveCould you please tell me how reliable the blue ice failure (50 dma break & failure upon retest) is as a trade potential based on your experience, especially if the stochastics are in your favour as well? Do you always rush in to trade these?||Do not necessarily need to rush into these trades but they are relatively effective. They make for an easy entry and exit strategy. If the price appears to be failing at the 50 day moving average, it can be shorted using the 50 day moving average as your stop loss. The successful move from failing that moving average makes the probabilities of a test of the recent lows and/or a test of the next lower moving average an extremely high probability. I would put this recognized pattern as a higher validated trade than the same signals forming away from moving averages.|
|recent Download product||I just downloaded Scanning Techniques To Higher Profits- Quick Download. The file is listed as a video which is what I thought I purchased. When I play this on my Windows Media Player I only get audio. This is not very conducive to education when you are discussing stocks/charts etc. Is there something missing here? If there is no video I feel I have been misled. Please respond.||
To be able to view the Scanning Techniques to Higher Profits video (as well as stock chat archives) you must download a small codec for Windows Media Player to play .avi files. You can download from the following link: http://download.techsmith.com/tscc/tscc.exe
Close Windows Media Player and re-open, you should get video now.
|Industry Charts||How much weight do you put on what the industry is doing when you are choosing a stock, if the industry is downtrending do you bypass even thought all the stock indicators are good, ie stochs, bullish candles, volume etc.||Not necessarily bypass it, but will probably go with a trade with reasonably good buy indicators in sectors that may be trending better. The risk of buying a good buy signal in a stock that is in a downtrending sector is that you may be just witnessing short covering, which would mean a quick bounce in a downtrend.|
|Pre-opening prices||It has been mentioned we should check the pre-opening prices of stocks to see if they are moving up, if conditions are right we should get in. How does one check the pre-opening prices?||There are a number of websites displaying pre-market and after-hours information. You might like this website http://dynamic.nasdaq.com/dynamic/premarketma.stm There are separate features to show you pre-market and after-hours stock quotes by symbol, as well as several categories for Extended Trading with 'Pre-Market Indicator" "most Active" and more. There is a great feature that allows you to enter up to 10 symbols to track extended trading.|
|Gap opens/strong opens||It is mentioned we should get in a stock if all indicators are strong and it opens strong or gap opens like a kicker. If we can only review the market at the end of the day because of work, is there anyway we can place an order above the current close price so if the stocks moves up we can get in the stock at a good time? I've tried buy limits but it fills at a lower price than requested, which means the stock may not be moving up, but the order was exectued.||You may have to talk with your brokerage firm for the execution of buy stop limit orders. Unfortunately, even a lot of young brokerage personnel may not understand a buy stop order. Find the experienced personnel that know what you're trying to do.|
|thur forum Stock Chat||I just tried to log in using the password you supplied and it isn't valid according to Hotcomm.Any suggestions?James||
We are sorry you missed this week's free stock chat. Please be sure to check our posted schedule under 'Stock Chat' to see the schedule. This week, and this coming week, the stock chat session normally held on Thursday evening is scheduled for Wednesday evening. There will be times the sessions are held on different days due to scheduling conflicts.
Please be sure to try again next Wednesday.
|SNDK||Hi,just joined and would be keen to get your views on SNDK at this time?Many thanks!David||SNDK is forming a good base but the stochastics are running out of steam just as the price has come back up to the 50 day moving average. Would anticipate a few days of waffling at the 50 day moving average to give the stochastics time to regenerate. Then watch for the next buy signal|
|GROW||what do u think of GROW...would that be classifed as a wave 1 to the downside...im currently shorting it!!!||
GROW has started moving sideways for the past few days. This is being done with the stochastics in the oversold area and some indecisive signals forming. Keep in mind, this stock has been in an uptrend for the past few months. If short, be prepared to cover very quickly on any price move above the last four or five days of congestion.
|A few questions||Why do you do your candlestick analysis on INDU? INDU always has an unchanged open even when the dow is gapping up or down.. I think it is more accurate to use DIA for candlestick formations on the dow.One more thing, did you notice the spy weekly bearish engulfment and the QQQQ weekly bearish engulfment? just curious what you think.. I'm a big fan of your work..||Any index indicator is going to give you a feel for which direction the market in general is moving. Using the Dow and the NASDAQ has always given me good results. Use whatever will produce the results to make profits.|
|candle stick forms||At your suggestion, I signed up for the Worden Telechart 2007....the charts I have set up have some candles a solid color, and some a hollow color (bordered in red or green) Just what is the difference between solid and hollow candles, please........tia, Dick||
A hollow candle forms when the stock price closes higher than its opening price.
A solid (or filled) candle forms when the stock closes lower than its opening price.
|forex||Do you any time frame for the new program for forex.||Not as of now. Steve is still working on Option Trading information.|
|institutional||steve - do you do any consulting work for institutional equity shops? i would be interested. thx.||Yes, and will be doing much more in tha area this year.|
|gold||HI, I love the website..got a qustion about gold.what is your thoughts on gold for 2007, more so with one particular stock (auy) yamana gold.. Im not sure where a good stop loss should be and if i should be long?||I do not usually make projections of what a commodity, index, currency or stock might do well into the future. I am more interested in what a trading entity will do over the next 10 trading days. However, utilizing candlestick signals, our long-term picks area will involve identifying interest in stocks that now have good upside potential for the long-term.|
|candlesticks formations||Hi: I would like to talk to Steve about the formations of candlesticks on three different charts. Is that possible?||
Steve offers a Q&A session and specific stock chart reviews at the end of each Thursday evening public stock chat as a free service.
He is available during market hours in our Members Only Live Trading room.
|Flash Cards||Have you ever despatched the flash cards to any customer in india. I am asking this since i am not sure about the import rules.||Yes, we have shipped many of our products to India and other countries wthout a problem.|
|(goam)||im watching over this stock closely after it was mentioned on your stock chat.. and im not sure witch way too play it..where too put a stop in .. a big shootin star formed followed bya gap up long legged doji..just wondering your thoughts..||GOAM still in uptrend but starting to show some toppiness. However, the uptrending channel is still the predominant factor. Would stay long until the trend channel is altered.|
|indian stock market||wat r the factors affecting stock prices||Candlestick signals work on any trading entity that involves human emotions. The will work in any market.|
|money management||It sound stupid but please tell me.how many shares do I need to buy? Share price is around $10 to $13 each share in your Daily stock pick chart||use equals dollar amounts for your purchases, not number of shares|
|WRB||Can you tell me where can I find some more infos about the significance of wide range bar? I've already bought Mr Bigalow's 1st book, it seems that there's no mention of the WRB. Also, will there be any shipping discounts (destionation: Hong Kong) if I order Mr Bigalow's 2nd book before 17 Dec 2006? Thanks.||Wide bars do not add any significant information, the volume can be analyzed instantly with the volume chart below the regular chart. Keep it simple.|
|Scanning techniques to Higher Profits||Can the Scanning Techniques strategy be transferred finding forex trades?||Yes, putting the very simple process of using the signals to analyze each currency on it's own chart and putting that analysis into the trade combination.|
|Best Platform||What is the best platform/software for Japanese Candlestick research and analysis?||We use TCnet but Candlesticks can be analyzed on any charting/scanning software programs|
|Associates? Link back with high SERP ranking relev||Hi there, I’m the owner of http://www.ai-stockmarketforum.com which is currnetly No. 4 for the term "stock market forum" on google in the UK (http://www.candlestickforum.com is no. 35). I see that you have a related forum, my forum is also an investment forum but it is more related to investing using artificial intelligence and neural networks. At the bottom of my forum I have added a set of associates, and the associates have done the same, all the associates have relevant content, and are related to AI or investing. As we are both forums, with the same relevant content however with not too much overlap so that we do not compete, I think we could both benefit greatly by adding each other as associates. This will in turn increase the number or relevant link backs to each other, and increase our SERP rankings and traffic. Let me know what you think, or if you have any other cross promotional ideas Kind Regards, Michael Page||Will look and will have Pat, the business manager get with you next week.|
|e-book do they duplicate the printed books||I wanted to know if the e-books duplicate the information in the printed books. My trading partner and I have read both of the printed books and we are always looking for new information about candlestick trading.||The ebooks also cover the basics that are covered in the hard-cover books but also go more into depth in explianing the signals with more examples.|
|chat room||Today I was unable to log on. It keep on ringing but was unable to access the chat room. Any idea how to correct? I did not change anything and have been using the shortcut for sometime. I was able to log on this evening chat with my lap top. I normally use my desk top for chat. Any help would be appreciated.||
We use HotComm as a third party software for our chat sessions. We do not know much about troubleshooting these kinds of technical problems. We recomment calling Joe Ferrazano, our technical support specialist for HotComm, at 508-870-9730 or 508-479-1000.
We apologize for the inconvenience.
|Apollo||Dear SteveI had a call on Apollo that I purchased yesterday (December call). When Apollo opened up lower (Doji Yesterday) I closed out the position as the rules would indicate. Well. Apollo finished up .45. Did I panice and get out too soon? Should I have let Apollow tgrade lower then yesterdays low? This happens to me on occassions and it frustrates me. Any comments to guide me for the future would be appreciated.Thank you.Mike Probst||When the stochastics are not in the overbought condition, give the trading a little more leeway. Next, there is nothing wrong with closing out a position and then buying it right back when a signal does not confirm. The point of using candlestick signals is to buy it when the indicators say buy and sell when the indicators say sell. And buy back when a sell signal does not confirm. This puts you in a position of getting most of the profits from a price move. The part that you miss is the insurance that you're not holding a position that is now going the opposite direction.|
|Commodities||Which chart should be analyzed for candle signals, continuous,floor,floor plus electronic||Use whatever time frame makes sense. Even continuous trading has its slow periods. Pick a time frame that would be logical. Such as the end of the US trading market or any other time frame that would be the majority of the trading.|
|Wire - Is there are buy/reversal signal yesterday?||Hi, Wire - Is there are buy/reversal signal yesterday? Joshua||WIRE is in the process of a bottoming action. If one signal does not convince you that a reversal has occurred, wait to see if a second signal will form. Most bottoming actions we usually have more than one reversal signal.|
|Ricky Wayne Program||Is there going to be a Sunday Evening Program this coming Sunday 11-12-06 @ 8:00 ET?||There will be, but it will be for members only.|
|grant prideco symbol GRP||looks like its trying to bottom here ..what are your impressions.||GRP yes, an inverted hammer right on the 20 day moving average. A bullish engulfing signal right on the 50 day moving average. Stochastics moving up, would suspect the next target to be the 200 day moving average|
|stockastics||if your daytrading what is usually the setting for the stocastics? same question for weekly and monthly.thank you||I use 12, 3, 3 for all the charts. That has worked effectively for me whether daytrading or swing trading. RickyWayne, who monitors the chat room each day, uses the 8, 2, 2.|
|Sunday sessions||I received the following in an email today "Ricky Wayne will be providing information on how he sets up his scans for successful daytrading with candlestick signals. The special training sessions on Sunday nights a2 8PM ET provide a very down-to-earth evaluation of how to find strong day trading possibilities." - My question is is this open to non members as I know Mon pm is not. Also will this be archived if it is available to non memebers as I live in the uk & 4pm eastern is very early am here! But I will stay up to log in if this is an open session. Thks||
Ricky Wayne's Sunday night stock chats are open to the public and are archived in the "stock chat" section of our website.
Please click on the following link to go to the Stock Chat Archives (click on the date of the stock chat you would like to watch)
|Forex trading training||any new info on the Forex trading training?||Not yet, the Forex info will not be ready to present until after the holidays, working on Option strategies info.|
|question on where to a book||1.Where can I find the book, "Using TC2000 to Find the Best Candlestick Trades"?2.I keep reading about TC2000 and TC2005. I have TC2007. Do these things apply to TC2007?||
You can find the E-book "How to Use TC2000 To Find The Best Candlestick Trades" by clicking on this link.
Yes this applies to TC2007
|Ricky Wayne||Computer crashed last Friday and unable to view Sunday 10/22/06 Session. Did you do an audio or video of his presentation that is available for view? I plan to attend this weeks program and would like to review. Thanks, C. W. Eggert||Yes, this is in our Stock Chat area for viewing. Ricky Wayne's Sunday night Stock Chat Oct 22. The URL address is http://www.candlestickforum.com/PPF/Parameters/10_1088_/candlestick.asp|
|AVII Report||In your comments today you said you may post a report on this stock. I didn't see it. Where should I look?||In the long term picks area, will be adding more to it this weekend, nov. 4th|
|Beginner - what's next||I have read teh first two books. And learned alot!! Id like too advance on that, what do you think in your opinion would be the next logical choice too continue my learning exp with candlesticks?||
First, be sure to join us each Thursday evening for our free Stock Chat sessions. There is a Q & A session at the end, feel free to post any questions.
Second, make sure you have signed up for our weekly newsletters to receive timely market advice.
Finally, we provide numerous tutorials to assist any level of trading background. Beginners will want to start with our "12 Major Signals Educational Package" - 12 individual CD or DVD tutorials with over 8 hours of instruction for all of the major signals.
|charts||HI again! I have more questions on charts and candlestick signals. Im still confused. I notice you get differnt signals if you use the daily chart, the weekly and the monthly usually 3 months it shows.. YOu said its best too use the daily chart signals too show the possible future trends. NOw with the signals are you suppose too be watching for the ((last)) signal of the day on the chart? thank you and have a great day||Depending upon the time frame that you want to be investing, such as if you're a swing trader, you would want to be using the daily charts. That would mean you're looking for trade positions that should last from two to 10 trading days. A longer-term investor would use the combination of the daily charts and weekly charts, somebody investing in two to 10 weeks cycles. The real long-term investor, somebody anticipating holding their positions for more than six months would want to use the weekly chart and monthly chart combination with using the daily chart as your entry evaluation.|
|Candlesticks||Barry Habib had a seminar and I was briefly introduced to Candlesticks. All I know is that it is a market research method. Where can I get started to read the sticks? Private Training sessions? Are they costly? Leonida||I would suggest reading "Profitable Candlestick Trading" . I do not profess to be any great author, but the feedback for the past few years has been that this book definitely clears up a lot of questions that most people have about candlestick investing. It is not so much a market research method as it is a centuries-old study on investor sentiment put into a graphic depiction.|
|charts||i still cant use the forummy user name is candlehandle and pass word is jimjim my other question is, are you suppose too only observe the last candle signal of the day, the last hour? or read it through out the trading day and make your trades that way?||Use the daily signal. However, the hourly charts to show a good trend from one day to the next. But the daily signal is a much more consistent indicator of what the longer term trend is doing|
|Long term trade using daily charts in Forex||Taking about the candlesticks, by end of the trading day. If CLOSE is greater than Open it means coming day will be up trend. (Talking about the Daily chart in forex). How Accurate is this?Or there is any other indication that Alarm’s me about the coming movement of the trend. Please advise. I am using candlestick for long time, it amazing now I am putting my self in long term trade, please advise me with any useful advise.Ali||The signals are definite candlestick formations. They become more accurate when confirming indicators are applied to your charts. Stochastics is the main indicator that I use.|
|E-mails||Your Emails are not getting through. I think they may be blocked by my ISP.||
We have a full page of instructions for the Major Internet Service Providers which should help. Many ISP are increasing their efforts to filter SPAM. Unfortunately, many legitimate emails get caught in the process. Please Click Here for instructions to allow our emails to your 'Friends' list.
|Flash Cards||What size are the flash cards ?Thanks,Gene||The flash cards are 4"X6"|
|scans||What is the name of the website used for scans that scan for candlestick symbolls? i keep reading in the forum about these kinds of scans?||You might want to post this question in the discussion forum to get other people's feedback. We do our own scans, they are located on the following page: http://www.candlestickforum.com/PPF/Parameters/16_263_/candlestick.asp|
|Maintaining Equal Position Sizes||I know from your books that you recommend keeping even position sizes, as in dividing up your trading capital into equal "blocks," I guess you could call them. Personally, I really like the thought behind this strategy. However, I'm a little confused about how to maintain it properly. That is, once you start trading, your trading capital is going to either go up or down (hopefully up). When it does, and you're ready exit one position and enter another, when you divide your capital by the number of positions you want you're going to get a larger or smaller number than you're already-existing positions, thereby making your positions uneven. Is this a problem?Also, at different points in your books you recommend taking windfall profits by exiting half the position, as well as opening only half a position and waiting to see what happens before entering the other half. These, too, would seem to throw off the equal position size model. How should this be handled?||
The positions should be maintained as relatively equal. For example, starting out with 10- $10,000 positions. If the first position is closed out with a $5,000 profit, the next position can be established with approximately $11,000. However this does not need to be exact. Keep the positions at approximately 10% of the total portfolio. That means you might be buying one position for $9,700 and another position for $10,500. What needs to be maintained is positions of approximate equal value. You do not want to have one position at $16,000 and another position at $7,000. Mentally you'll be telling yourself that the $16,000 position is something you decided was going to do better than the others. This now means it becomes an emotional element versus just being another investment unit.
If you put on half a position with the idea that if it does not work you come out of that half position or if it does work you had the funds to complete the position. That usually means that the half position of funds will probably be committed before the end of the trading day. closing out a half position was some big profits may have funds sitting in the account for a day or so until the next positions are rolled over. It doesn't hurt to have some money sitting every now and then.
|Flash Cards||I am a new trader and my trading platform uses red and green candles. I find the use of black and white candles confusing. Are the flash cards available in red and green?||no, candlesticks are all visual. The colors should not be that confusing. Black and red show negative. White and green show positive. Learn to use both because there will be times when your charts system may be black and white if you're using somebody else's from time to time.|
|forums/noob||Two questions I have.1:) what is the best reading or cd/learning avertised item on this site best too start out with?, I have a limited knollege in the market's and love this site and wana start out on the right foot.2:) why do i have too give my pc ip number info out? i feel uncomftable doing that?3:) what market scann is being used with this website? ive been seeing alot of talk about something called tc2007? thank you for helping me with all my questions.. I said two but there were 3 sorry :)||
1. Read the two books first, they will give you the general feel for how to use candlestick signals. That is the least expensive way. Then come back and find the products that you want to get more detail from.
2. Don't know why the PC IP number is being asked for, if there is an order problem, call Javier and order over the phone.
TC 2007 is a scanning software. More details can be found on our site as far as the capabilities of that software.
|strength of the market and candles||I have a question for mr bigalow, i have read both of his books, and in each book reference is made to the fact we should check what the market and industry are doing when selecting a possible stock to trade. howwever i have found that even when the market indicators like QQQQ and Sp-500 may appear to be have bullish candle sticks with the stochastics in the oversold areas, when a search is done on the nasdaq100 or the sp-500 group of companies one finds there are more stocks in the overbought positions then there are in the oversold positios.in this case what should one do then, should one concentrate on the overbought positiosn where the stochstics are >80.thanks for your helpjay khan||Our new training CD on "Trend Analysis" will be available in the next few weeks. The purpose of educating investors in using candlesticks is to illustrate where and how to evaluate trades in oversold conditions AND what patterns to look for where markets are in trends. There are many patterns that work effectively coming out of the right trading patterns.That is where knowing how to use the signals to better identify those patterns.|
|Candlestick trading and indicators||I am familiar with your great work. Can you recommend any material that combines candlestick analysis with traditional technical analysis, i.e moving averages, indicators, etc.||Yes, there video tutorials on trading Gaps, Breakouts, and the importance of candlestick signals at Major Moving Averages in our Candlestick Training Videos. These videos are available for purchase and also in our "Video Quick Download" option.|
|adjusting the stop-loss point||I know that you recommend placing the initial stop-loss order at the point at which it would mean that the potential has fizzled, such as the bottom of a bullish white candle, or a close between the half-way point of that candle. However, I'm still a bit confused over what to do if the trend DOES do what it's expected to do and start rising (assuming a long position). I would think that once this has happened, leaving the stop-loss at the bottom of the initial candle would make it way to wide. Do you suggest adjusting my stop as the trend continues? If so, based on what (such as a low-of-the-past-three-days type thing)? Thank you.||Yes, as the trend starts to the upside, pick a logical point that would indicate that the sellers have taken control. Sometimes this will be a close below the open of the previous long bullish candle. The stop loss also becomes a function of the type of candlestick formations that appear in the pullback. A series of doji's or small hammers in the pullback can be tolerated much longer on a pullback because it indicates there is not any decisive selling after the uptrend started|
|timing with gaps||I know from the chapter on gaps that a trade on a gap is a high probability trade. However, I still don't understand exactly when I'm supposed to enter one of these trades. That is, do I enter when the price gaps up from the previous day's high in the morning, or do I wait until the trading day is over to see whether or not the day really was a gap day or if the gap had been filled? It seems to me like if I'm really trading a gap, I would have to wait until the trading day is over or else it might not actually end up being a gap -- that is, the gap might get filled. However, if I wait until the day is over and the gap has not been filled, that also means that I would have missed part of the movement and would therefore be getting in at a less optimal price than if I had placed the trade at the open. What do you think is the best way to handle this? Thank you.||
I understand your situation and suggest you review an article on trading gaps We go into greater detail on gap trading in "High Profit Candlestick Patterns" There is no one answer to your question. Part of the decision process is the candlestick signal prior to the gap. Is this a gap at the top or a gap at the bottom?
I will give you some examples. A gap up at the bottom after a "Hammer". The hammer at the bottom is a Bullish indicator. It is formed in an oversold condition. So in this situation the gap up the next day provides confirmation of the Bullish Hammer at the bottom. You would want to take into consideration whether stochastics are in the oversold area. Did the gap occur above a major moving average? Does the particular stock you are reviewing have numerous gaps, making them less reliable?
There are numerous opprotunities for trading gaps at the top or the bottom. Gaps occuring at different locations in a trend have different meanings. While it takes a little more time to understand the implications behind gaps it is well worth your time to learn. Witnessing a gap at the beginning of a new trend produces profitable opportunities.
I hope this answers your question, in part, and you might consider the individual training tutorials offered on gap trading. The book alone needed over 50 pages for explaining gaps and there is just too much information to convey in an email.
Perhaps you could join us on a Thursday evening free chat session and provide a specific chart with a gap for me to review during the Q & A session.
|encyclopedia of candle stick patterns||Looking to own a "encloopedia of candle stick patterns,' or something resembling that. Please advise!Thanks!||The closest product we offer would be the Candlestick Flash Card Sets. These popular flash card sets display the signals for identification on the front with the trading criteria on the back. Or, you could review and print the signals from our Free Resources area.|
|Candlestick Patterns||Approximately how many Candlestick patterns have been identified?Thanks!||There are 12 Major Candlestick Signals, 19 Secondary Signals, and 12 Continuation Patterns that are easily identified. There are more complex patterns, but the above categories provide more than enough trading opportunities.|
|candle stick pattern||may I know wat is the "Ice Cream Sanwitch" pattern and how it works in the markets?||Are you referring to the 'Stick Sandwich' Candlestick Reversal Pattern? We have an article with full description for trading the Stick Sandwich in our Free Resources area.|
|Moving Average Scans with TeleChart?||Do you think that it's necessary, or even possible, to incorporate moving averages into the TeleChart scan criteria? That is, let's say that I want to scan for a bullish kicker signal, for example. I know that it's best to search for such signals when they occur in an oversold area of the stochastics, but do I need to (or can I even) tell it that is should occur in the oversold area AND on a 50 or 200 day moving average line?Also on the subject of TeleChart, on p. 333 of "High Profit Candlestick Patterns," it talks about having software that shows pre-market bids and asks. Is the Telechart software such software (for the Platinum plan, that is)? Thank you.||
It is possible to incorporate moving averages into TeleChart scans and certainly provides an additional indicator to increase your trade potential There are basic moving averages pcfs in our Free Resources area. Once you establish your pcfs you can combine combinations into their "EasyScans" for multiple criteria.
Telechart users with data streaming in real time will see the pre-market bids and asks. I believe this is present in their Watchlist tabs on Tab #10.
TeleChart offer a "Help" feature that provides a library of topics, and specific instructions for their Personal Criteria Formulas.
|Candlestick Scan Pcf's||I've seen that you have the TeleChart pcf's for the candlestick scans listed as a free resource on your website. I have two questions about them, though. First, I know from your book that there are minimum criteria for the signals, and then there are factors that make them "optimal." For example, the books say that the optimal morning star signal has a gap both before AND after the star day. Is that how the formula on that page is set up, or would that be too restrictive? Second, I know that some signals such as the hammer or the hanging man can have either white or black bodies. Will these formulas capture both scenarios? Thank you.||The pcfs for morning and evening star signals should capture the gap. The hammer or hanging man signals will produce both white and black bodies.|
|history||Hi,I'm very interested in your service. I have two questions to ask in order to know better. 1. Can I see history? I know that your daily pick is educational purpose only, but can I see all records of your picks? 2. How long do we hold ?Approximately how long do we hold stock once it is opened ? This should be average. Thank you very much and looking for your any response.||
Unfortunately we do not provide a quantitative listing of each of our recommendations in the returns. The reason for this is mainly due to the fact that we did not have the manpower or the facilities to provide that service when we initiated stock recommendations over four years ago. In our members area, when we put out the recommendations, it is for educational purposes. Each recommendation is described for which indicators, signals, and the rationale for establishing that trade.
Once the position is established, we provide follow-up commentary until it is time to sell. Once again, this is for educational purposes. Also, the recommendations are followed up providing guidelines for short-term traders as well as the longer-term investor. This means that there may be different recommendations on when to sell a position.
We do provide an unofficial/unaudited returned other recommendations over the past four years which is currently at a positive 314%. Keep in mind, our recommendations are not so the investors have stock picks, but so they can become educated on how to use the candlestick signals effectively.
As far as the length of recommendations, the average holding period can be anywhere from two trading days to 10 trading days. Depending on market conditions, those holding periods can even be longer.
|Id Bullish Harami||Is Sep Wheat showing a Bullish Harami?? w/ 2 inside days.... I do what?go long.. short? where can I send a chart to?||Yes, September Wheat is showing two bullish Harami's. However, it would be prudent to wait for confirmation. Meaning you definitely want to see some positive trading on Monday. Buying on a positive open, use any trading below Thursdays low as your stop. To confirm the Bullish Harami, you want to see a bullish candle on Monday|
|Kicker Signal||Hi, Stefhen.This is Mauro. I´ve bought yours books and I´ve been trading using that knowledge. Today I bought an equity because of the kicker signal that appeared yesterday. Unfortunately a shooting star was formed. The Stochastics are oversold. I am not in a loosing position because my entry point was just fine. Do You think it's a good idea to hold the position dispite of shooting star formation?Thanks for your attention.||Keep in mind, a shooting star signal requires the stochastics to be in the overbought condition. If you bought after a kicker signal, and the formation appears like a shooting star, would anticipate prices opening back up into the top shadow and moving higher. In worse case, if there is more profit taking on Monday, the kicker signal should still be in affect and would anticipate prices moving up again after the profit taking ended.|
|Confusion Over Stop-Loss Level||I'm a little confused over where you recommend placing the stop-loss order. On p. 352 of "High Profit Candlestick Patterns," you recommend placing it at the BOTTOM of the large white candle that created the buy signal. On the next few pages, you say to place it half-way down the body of the candle that created the signal. When is the appropriate stop-loss level the bottom of a candle, and when is it the half-way point? Also, what about the "methods rising" continuation pattern that you discuss earlier in the book? Part of that pattern seems to be allowing for the price to move below the half-way point of the bullish candle, but not below that candle's open. If I were to use the half-way point of that first candle as a stop-loss, wouldn't that close me out of pattern which indicates continuation of the trend? Thank you.||
If you bought a position based upon a large candle forming the buy signal, you should use the open of that candle for any trading below that level. If prices can come back down through that level during the day, that would be a good indication that the sellers were still in control. If prices close below the halfway point, the important distinction here is close, then close out the position. That means prices can come more than halfway down into that bullish candle but as long as it closes above the halfway point, the bears have not taken back control.
The three methods rising pattern will have you stopped out on a close below the halfway point of that candle. What you should recognize the following day is that the prices do not close below the open of the bullish candle. That's when you start getting prepared to buy back the position upon seeing a potential three methods rising pattern forming.
|Day trading stocks on margin||HiI am a new to Candlesticks.I was wondering if you could recommend a short / concise guide or website that I can browse that will help me spot entry / exit points and reversals etc in respect of day trading stocks on margin.AM I right in thinking that it is important to use a back up form of tech analysis to help confirm the signal such as MACD or stocchastics?I look forward to your reply.PS Great site!CheersStephen||
I suggest beginning with the Major Candlestick Signals beginning in our Free Resources area. We provide a picture of the signal, with related articles and specific criteria for trading the signals. From there you may want to move on to the Secondary Signals and Continuation Patterns.
You are correct, additional technical analysis will help you increase your probabilities for successful trades. However, I always begin my potential tradelist by scanning the candlestick signals rather than waiting for lagging indicators. The beauty of candlestick signals is the early alert to the change in investor sentiment.
We are glad you enjoy the site and hope you are joining us for our free Stock Chat on Thursday evenings.
|commodities||I am considering becoming a month subscriber. I am a commodities trader and are new to candlestick trading. I have read your book Profitable Candlestick Trading in the past 2 days. You say that you do give commodities recommations. How often could I expect a recommation with your service?||We try to put a recommendation on commodities when ever all the signals and confirming indicators line up. That may mean one every week or so. However, will usually point out commodity trades during the members chat on Monday nights.|
|Charting of stock picks||Do you chart your stock picks usnig the candelstick method to see if you are accurate ? Many other traders such as Harry Boxer and Winning on Wall Street are open with their stock trading picks and you can see how much they lose and gain. They tell you when they buy a stock and why and when they sell a stock and why along with the gain and loss on the trade. Do you offer the same service? Sincerely,Charlie Wright||We put out two or three recommendations every day. after they have executed, we do a daily follow-up on those positions. That commentary will run until it is time to come out of the position. Sometimes that is two days, sometimes that is two weeks. In the members area, we provide what the returns for the picks have done since the implementation of this program started in February of 2002. Keep in mind, the purpose of this training site is not to provide the picks, it is to teach people how to come up with their own picks and what to do with them. The picks we provide should be used for learning what the analysis was for recommending those picks.|
|Shipping Expenses overseas||What are the shipping expenses of a book to South Africa?||Shipping overseas is $26.10 USD for a book.|
|Candlestick bodies||What is (if any) the significance of repeated long bodies near the same length?||Yes, it tells that the buyers or the sellers are convinced that the trend will be going in that direction. Usually when you see three equal candles move in the same direction in a row, that clearly indicates investor sentiment for the trend.|
|Member's Free Monthly download?||Sorry, I didn't ask the question well last email. I think that every month the membership gets a free download...where do I go to check when it is available? Thanks Cliff||
Log on to the members' area and once you're logged in, on the left blue navigation bar click on the link that reads, "SIGNUP BONUS ACCESS Candlestick Forum Downloadable Files"
You will come to a page that has all the links to download the e-books. Scroll all the way down and click on the link :"Video Downloads." When you get to the video downloads page, the first video is the video of the month.
|BJS||Would you view the candlestick today on BJS as a dragonfly or more of a doji? thanks for your opinion?||Sorry for the delay, yes that would have been a dragonfly doji/hanging man type formation in the overbought conditions. But notice since then, the pullback was stopped by a bullish Harami.|
|Monthly member's free download||Where on the page would I look for this free download? Best, Cliff||Log on to the members' area and once you're logged in, on the left blue navigation bar click on the link that reads, "SIGNUP BONUS ACCESS Candlestick Forum Downloadable Files"|
|Question from Profitable Candlestick trading||Hello;I have recently purchased both of Stephen's books. I have been paper trading Engulfing Bullish patterns. I cannot find anywhere in the book that mentions confirmation.Question:1) According to Stephen, does a bullish engulfing pattern require a confirmation day, or is the trade best setup the following day after the signal?2) I'm noticing that many of the bullish engulfing signals, do not move immediately up. Is it normal for this signal to take several days to reverse the trend?Thankyou, could you please reply to both my listed email and firstname.lastname@example.org||
The Bullish Engulfing Signal is just that, a signal that there has been a change of investor sentiment. What is good to see is the confirming buying the next day. If you do not see immediately buying, keep in mind that the signal showed that buying was coming into that price, what for confirming buy signals a few days later
|candlestics||hello sir plz give me candlestick calculation formula. and suggest me how i am calculate.||
We have many calculation formulas available in our Free Resources area.
For example the Bullish Engulfing Pattern would require writing the open is greater than the close and the close of today is greater than the open of yesterday. O<C1 and C>O1. While each software program has different ways they want the criteria written. the basic principal is the same.
|Payment||I would like to changecredit card number for payments.||To change credit card information, you can do so by logging on to the members' area and click on "Click here to edit your profile." If you need assistance you can always give us a call at our toll free number 866-251-4015.|
|Stock trading simulator?||Hello;Just purchased Steves first book and am thoroughly enjoying it. I need some practice with candlesticks and am wondering if there is a relatively inexpensive trading simulation that offers candlesticks. Hoping this software is not just real time, as the intent would be to practice my recognition. Thanks for any and all help||We recommend the TeleChart2005 program. There is an option to receive end of day data which is relatively inexpensive. This is a great program for candlestick searches and would be a good way to paper trade while becoming comfortable with candlestick signals. You might check out their website, often they have 30-Day free trials to get you started.|
|Product Content||Is the Advance Pattern Analysis ($377.00) included in The Major Signals Educational ($397.00) package?||The Advanced Pattern Analysis is NOT in cluded in the 12 Major Signals Educational Products. These are two completely different products. They can be purchased together for a special price of $619. You can purchase the complete package by clicking here.|
|June 19'th Stock Chat||Hi, Is yesterday's stock chat archived? I couldn't attend it and am hoping it was recorded.Thanks,Watson Murthy||
Monday's stock chat is archived, but you have to be logged in as a member to see these. On the member home page, there is a link "Stock Chat" on the blue navigation bar on the left.
|charting software used||hello I am throughly enjoying your Fr** newsletter/resources and lerning a lot. May I ask what software use use - as coandlesticks are very clear. Also what are your stockastics settings please. I would like to emulate yur settings.thanks!maureenc||
Review the Ask the Experts for stochastics settings. The settings are discussed in more detail at this link.
Steve uses several trading platforms. Since he operates a hedge fund he requires some sophisticated programs.
An excellent program for monitoring and sorting stocks is TeleChart2005.
|Forex||I note that most of the major signal patterns are identified by candles that do not have the close for the first candle matching the open for the second candle. I am currently trading forex and observe that this is always the case, presumably because it is a 24 hour market.What I am struggling to understand is how the open for any given day can be different to the close for the previous day? Surely the value at which one day ends, is the value at which the next day opens? or am I missing something? which||That Is correct, with the 24 hour trading you're not going to find signals that gap away from the previous time frame. However, the still does not preclude using candlestick signals. There are many signals that do not require a gap from the previous time period. The best way to utilize candlestick signals is analyzing each individual currency independently and then use that information to incorporate into your Forex trade|
|Repair portfolio||I've heard you can 'repair' a down portfolio using put options or ? Your detailed steps would be greatly appreciated. Thank you. Julie Reagan||You can use put options to protect your portfolio from going down. When you buy a position, buy a put position against that position. If the price of that stock goes up, your cost now includes what you had to pay for the insurance of buying the put. If that position goes down, the put increases in value maintaining the equity in your account.|
|Entry Points........Where to people chat?||1. When we are advised to trade on a lower open, if it opens slightly higher, then trades lower below that prior day's close, is that a trade signal? Or must it originally open LOWER AT THE OPEN....to triger the trade. 2. Where do the candlestick forum guys trade? TCNET? Or elsewhere. I know that Steve says that he and others are online....but where? Thanks.||Regarding your quesiton on "where are the other candlestick traders online". Members have a private chat room online during the market hours. The information is in the Member Area under stock chat. There is no one specific trading platform for all members. Some use TcNet while others use TradeStation, ScotTrade, E-Signal, plus many others. You will also find Steve available in TcNet public chat room. Join by selecting 'Join a Club' in TC - Club Name is Candlestick Forum.|
|Stop Loss||For a long recommendation, your stop loss normally like "use a close below $xxx as your stop". Two questions: 1) If the stock closes below the stop price, does that mean you close the position on the next session's opening? 2)In terms of risk management like not losing $x or x% of your trading capital,how do you manage the risk when the closing price could be like 5-10% below (in the case of a long position) the stop loss closing price? In such cases, you cant define your stop loss amount until the close (or the next session's open if you are closing your long position then).||
A stop loss is based upon evaluating what price would indicate that the sellers were still in control. Usually the halfway point of the previous candle is an obvious level. Will it sometimes close well below the halfway point? Certainly, in that case if you see it moving below that level near the end of the day and it doesn't appear like the markets are going to add strength, close it out before the close of the day. Will this mean that you occasionally have some big percentage losses?
Yes, but the probabilities of the buy signal in the first place says the majority of the time it should move in the direction you are expecting. For every time you have taken a loss to a stop loss point, you probably have had four or five positions move very positive for you.
|Forex Brokers||I have been scanning the internet trying to find a broker that executes orders and stop losses, doesn't trade against their customers, doesn't change spreads after the trade is made and basically doesn't rip off their customers. PLEASE HELP!||This is a question you probably want to ask on the forum. You'll have many different answers from that group. Or you might ask that on the Thursday night chat session|
|Live Chat||Is there a live chat during market hours for candelsickforum members? How do you get into that chat room? thanks for your help. carol||
Yes. There is live chat for members only during market hours. Members can log in the same way they would log in on Monday Night Chat session using the same password. If you have never attended the Monday or Thursday night chat sessions, please give us a call and we can walk you through the steps of signing on.
Toll free: 1-866-251-4015
|OPTIONS||SO...HOW ABOUT SOME OPTION PLAYS??????||
The blue ice failure for the market is also showing up in stocks, the steel stocks in the mining stocks. Those could have some put positions put on them.
Will start getting some option trades in the Monday night sessions
|trading||Is there a way to protect your portfolio against huge loss like in BBOX on June 2?||Unfortunately not, unless you start adding some put positions. This is a case of probabilities. For every time you have a bad surprise like this one, the candlestick signals should have provided for over five good surprises. The other strategy would be that when you start seeing exuberant buying at the top, start taking off half the position in the high risk area.|
|Talx||what is your opinion on Talx...seems to me that it is supported by the 20 day and with all the doji at that moving average.. and the STO curling up..it may break through the 200 day and get to the level of 29-30 any comments thanks||
Sorry this is so late, but the evening star signal at the 200 day moving average became the obvious level of resistance.
|Intraday futures trading||Good afternoon.As intraday trader on AB #F, what is please the shortest timeframe in min. with which we can still work and relay on candlestick formation and signals. According to intraday trading and scalping, what do you use as stochastic parameters, please? 12,3,3 or 12,2,2 or 12 changes to 5 or 6.I like the study about candlesticks a lot, since long heared about, just now with your forum and membership discovered. It's never too late, they say...Have a nice weekend.Luc||The one minute chart is usually the shortest duration that most charting services provide. I use in a combination of 12, 3, 3 and 4, 2, 2 when a trading intraday. The stochastics are only a secondary indicator. You can always tweak your charts to coincide with the previous reversals to find out which stochastics combination works the best for you|
|Short 4-5 day consol||I have been trying with no success to write a PCF to detect a short consolidation pattern of 4-5 days = Can you help. This is for tc2005||
I would suggest you post this question in our Discussion Forum or in TC's Candlestick Forum chat room. Pat has posted this to TC club members, you might want to check to see if anyone has already written a pcf for this.
|Is there always a buyer when I want to sell?||Hi there. Here's a question from a beginner:I understand that the basic rule of investing in the stock market is: buy low, sell high. So let's say I buy a stock really cheap and the price shoots through the roof. I now want to sell it immediately. If everyone else is also 'buying low and selling high', who's going to be dumb enough to buy this stock of mine if the price is now so high?In general, can I always be sure that when I want to sell, there will be someone to buy?Thanks.||There is always a market. The reason you think the price may be high may not even be a consideration for somebody that thinks the price is going much higher. The candlestick signals represent where the change of investor sentiment is starting to occur in a trend. All stocks will always have a bid and ask price. Somebody always has a reason to be bidding for a stock price no matter where it is trading. The other question is if everybody is panic selling, who is buying? It is usually the smart money that is buying when everybody is panic selling at the bottom and is the smart money that is selling when everybody is exuberantly buying at the top.|
|charts||Would you please tell me what you have your SStock set at . I need some help. Thank You,Bill||Stochastics? 12,3,3|
|chat room||How do I join you for the chat room tonight?thank email@example.com||
We apologize for not replying to your email last night, but our office hours are from 9am-5pm central time. Instructions to join are on the following page: http://www.candlestickforum.com/PPF/Parameters/10_72_/candlestick.asp.
Please give us a call if you have any trouble dowloading or setting up the hotcomm and we will be more than happy to help you.
|Trading spreadsheets||Hello,I'm looking for a book that teaches how to use spreadsheets for daytrading. How to keep track. What daytraders use spreadsheets for, etc...Do you sell or do you know of a book like this? Thank you for your time in advance.Tom Brown||Not aware of any books on the subject but I suggest posting this question in our Discussion Forum. There is a good chance other traders will share their trading spreadsheets with you.|
|Stochastics||For a trend reversal using candlesticks, would the Stochastics have to be in the over 80 or under 20? And should an investor wait for these conditions for rely on the candlesticks?Thanks!Dave||If a candlestick buy signal occurs near the 20 or the 80, the position can still be bought. Be more diligent as that trend might fizzle and they take it into the overbought or oversold area.|
|Dallas Trading Group.||Hello,Do you happen to know if there is any Candlestick, TC2005 or stock technical analysis group in Dallas area?Thanks,Andrew||There is an excellent group in the Dallas Fort Worth area. You might check out their website at afta-dfw.com for a calendar of meetings and contact information.|
|Formulas for signals + Indecision day||The formula for Hammer reads "(((H-L)>3*(O-C)) AND ((C-L)/(.001+H-L)>0.6 AND ((O-L)/(.001+H-L)>0.6)) " and for the Shooting Star reads" (((H-L)>4*(O-C) AND ((H-C)/(.001+H-L)>=0.75) AND ((H-O)/(.001+H-L)>=0.75)) ". 2 Questions in this regard please:1- Why is it 3 and .6 in the hammer and 4 & .75 in the Shooting Star, why they are not identical?2- Wht is the purpose of the factor .001 added to the H,L? How do I adust that if I am trading say FOREX or FUTURES?OTHER QUESTION:You mentioned in the book many time (the more indecision, the better the signal), how do you judge more indecision Vs. Less indecision?Thanks and Regards,||Too many questions to answer, e-mail us your phone number and I will call you to go through all this|
|scans||i read your book and thought it was excellent. recomended to many friends. just purchased tc2000.if you could e mail me your formulas for different reversal signals and how you use tc2000 to find find potential trades i would greatly appreciate. thank you very much.||
Current formulas for finding candlestick signals are in our website under Free Resources>TeleChart2005 Formulas. These may be copied into individual pcfs or Easy Scans. To review a great collection of trading videos for TeleChart2005 go to: www.worden.com/XMLPage.aspx?xmlpage=trainingpage. These short videos provide significant training on how to use TC2005 more effectively.
|Position Summary Table||suggest attaching table as Excel file so members can track and modify our own tracking methods.||
The Position Summary Table may be copied to an Excel Spreadsheet. Highlight the entire table>Right Click and copy. Open a blank Excel Spreadsheet and place your cursor to the first blank cell>Right click and paste.
The symbols will still be actively linked to our website. If you wish to deactivate the hyperlinks, follow these steps:
|Candlestick and Western Technical Analysis||What is a good book on how to combine or scan for particular candlestick patterns with traditional western technical analysis||Both of Stephen Bigalow's books, High Profit Candlestick Patterns and Profitable Candlestick Trading, provides scanning for candlestick patterns.|
|Easy Scans||I set up an easyscan using "Simple Candlestick Scans Using TC2000/Net" located on the website under Video Downloads. I updated this easy scan from Telechart TCNet during the Monday's member session. None of the stocks that showed up in my list of 244 were the ones Steve discussed Monday night. I must be doing something wrong. Is there something special I have to do to update my easy scan to show the same selected stocks you are finding? Is there someting special that updates a selected easy scan with current information. Remember, I used UPDATE on Telechart as the Monday night session was in progress. Thank you for your help||Many of the recommendations might come from the general scan versus the oversold scan when the market is in a steady uptrend such as this one. The general scan is using the universe of stocks that are five dollars or greater and trade on average more than 200,000 shares a day. Sorted by the biggest percent moves may show more of the Jay-hook patterns, the scoop patterns, a fry pan bottom, etc.. The best would be to e-mail us your phone number and we will get back with you to make sure your scan process is correct.|
|Short Term Day Trading||Can we use candlestick for profitable day trading that open and close position during the day?||Yes, if you can do a general analysis that indicates a stock should be in an upward or downward bias using the daily charts, then you can day trade it in that general direction using the one minute, five-minute, and 15 chart combination. The intraday candlestick signals work extremely well for both stock trading and trading things like the e-minis.|
|Stochastic entry point by looking at 1,5,15,30 mi||What is best time frame combination to enter a trade after looking at Stochastic 1, 5, 15 or 30 minutes?Out of four trades, always a trade comes up with a little confusion. Where I loose money but I cut my losses after studying 12CD pack. I am expecting help from you Steve as help me earlier. For example: Taking about up trend. Stochastic is just above 20 line which is entry point. BUT when looking at stochastic of 15 minutes the trend is down and moving towards 30 linesSo what would you suggest? Is this is good entry point. OR do we have to confirm and make sure with the stochastic 5,15, and 30 minutes are all up trend, which will give me a potentional, buy signal. Please advise||If you analyze that the daily chart is moving up off the oversold stochastics, then you use the intraday charts to trade in that direction. Now you see when the one minute, five-minute, and 15 minute charts are in coordination. This sometimes involves extrapolating what the 15 minute chart will look like if the one minute and five minute charts continue in the same direction.|
|CC||In your afternoon comment you said CC is not showing an upward reversal move. Did you base that comment on the cnadlestick formation at the end of the day or did you have some other reasoning?Thank you.Mike Probst||Despite the fact that a price may be moving against the prevailing sell signal, you need to wait to see if a reversal signal of the current trend has occurred. In that case, the upmove in CC was not a reversal signal, just an upday in a downtrend.|
|Indicator settings.||In Euro/US what is good setting for Moving average and stochastics for 1-minute charts. Please advise.||Use the 50 moving average and the 200 moving average for general trend changes. For quicker trading, you might want to also put the 20 moving average on your intraday charts|
|Live Support Operator||I am out of the country. Do you offer an online operator?||We are pleased to announce our new "Live Support" for all questions regarding orders, billing, membership renewals, or any technical problems with our website. This feature is available during business hours. THE SUPPORT OPERATOR CAN NOT ANSWER TRADING QUESTIONS.|
|steve's scans||Dear Ask The Experts,During stock chat steve talks about how it takes him only 15 minutes a day to scan the market for suitable trades.Could you please tell me what scans he uses?Also, I am seeking a PCF for candle & fry pan patterns - do you have these, this would be most appreciated as I love these types of trades.Also, could you please advise how steve trades in relation to the overbought/oversold statues of the Dow, S&P 500 & Nasdaq, (ie. if the S&P is highly overbought(with a bearish engulfing or bearish kicker signal) would that affect his decision to enter long positions.Also, what is the best way to scan the sectors to seek out postions in rising/falling sectors.Thanks in advance.StevePS Your site & Steve Bigalow himself are one of the few real deals in the stock market arena.||
You have posed some interesting questions. Steve often discusses his market scans in our Thursday evening chat sessions. This would be the perfect place to ask some of questions posed in relation to trading in the overbought/oversold conditions and the influence on his decisions.
Our current pcf are available in our free resources area.
|daytrading s&p mini||i just recently purchased yourbook "high profit candlestickpatterns".i'm a new daytraders&p mini .are there any other insights you can give me that willincrease my chances of being successfull.thanks .your book has been very infomative.i just needsome added info in reguardsto daytrading. thanks for your time tony||You can use the same parameters on an intraday chart as you can on a daily chart. The signals in daytrading will be essentially the same as on a daily chart. Intraday charts usually do not have as many gap situations.|
|Houston area Candlestick Trading/Investing Group||We are looking for a trading/investing group here in Houston that is active, successful and willing to have new members. My husband and I have been actively trading the market for 2 1/2 years with mixed success. Previous to that we were long term investors (a year or more and had a fair amount of success there.) Are there any "candlestick" groups in the Houston? Also, when and where is Stephen's next speaking engagement here in Houston?||
I saw your email regarding any local trading groups in
Alex Jacobson from the International Securities Exchange, Michael Thompson from Worden Brothers, and radio-talk show co-host Tom Incorvia. If you are interested email Mark Swerdlin at firstname.lastname@example.org for more information. I found this to be a great network of individual traders and developed some personal trading associates through these meetings.
Sorry, you missed Steve in Houston earlier this year. There are no current engagements scheduled for Steve in Houston at this time.
|Re: free subscription||Did I understand correctly, a note that said I would be getting the Candlestick Forum subscription free for 6 months for attending last Thursday night's chat by Ricky Wayne?||
I'm sorry, perhaps we weren't clear enough. The six months free membership, along with many other of our products, is included when you attend one of Steve's two day training seminars like the one Ricky Wayne attended.
For more information on the seminar, please click here.
For seminar Schedule, please click here.
|Ricky Wayne's chat||Is there a way to listen to a recording of Ricky Wayne's chat from last Thursday night?||
Ricky Wayne's recording can be played from the following link http://www.candlestickforum.com/PPF/Parameters/10__/candlestick.asp
|Ricky Wayne||4/12/06 Ricky Wayne was to have posted info about J-Hook patterns. I can't find this on the website. Please advise.||
Ricky Wayne's recording can be played from the following link http://www.candlestickforum.com/PPF/Parameters/10__/candlestick.asp
Updated information on J-Hook Pattern
|Seminars & Trading for a Living||Do your seminars teach one how to scan the market of stocks for tradeable opportunities in stocks that typically go on for huge moves? If so, how? (I would want to know this so that I'm not buying a pig in a poke). Can you provide more information about the man who went through your training, now teaches for you, and trades for a living? What was his level of knowledge prior to training with you? How long did he study? What were his financial obligations when he decided trade for a living? For example, does he have a family to support, a mortgage, etc.? This information would help me decide whether your training would be a good investment. I've used several charting programs and I've been investing for some time. I don't have the skills to trade for a living but I would like to get there. Thanks in advance should you decide to reply.Barry Miller||
Yes, not only do we go through the 12 major signals that are going to produce big profit trades, we also go through the psychology that developed those signals. Most importantly, this changes the perspective of how an investor looks at making money in the markets.
There are very simple scanning techniques for finding the signals occurring in the right place at the right time. We go through step-by-step how to set up scans. It is not difficult. We also go through the analysis of what combinations of indicators show the best and strongest trade results.
RickyWayne lives in Nome Alaska, he was selling auto parts. He is married, kids I don't know. Normal living expenses. He does not teach for us, he participates in the chat rooms and is very unselfish about helping others learn what he has learned. I'm sure that if you would like to talk with him directly, he would be more than glad to go through his situation with you. E-mail us your phone number. We will see if we can get him to call you.
|Seminar||Steve, I thought you said that you would be doing a seminar in Orange County/Los Angeles in the near future...I don't see any mention of possible dates on the site?Thanks, Cliff||Stephen Bigalow will be presenting to the Colleaguesintrading Group in Irvine California on May 20, 2006. For exact time and location go to our Free Events page. Thank you for the inquiry.|
|Linux software||Hi, I am new to trading and see a plethora of trading software. I am converting over to the linux operating system at home and was wondering if you have any recommendation about investing software for this platform?||We do not know of any trading software for Linux OS. We recommend you post a question on our forum to see if anyone offers any suggestions/opinions.|
|Chat Archives||Sorry,you answered this before and I wasn't able to do it.I want to copy a chat onto a CD and take it to my office and watch it. How do I do this...sorry.2nd - at my office computer can I just play the chat without having to download any other programs...they don't like us to download software.3rd - Is Steve pretty accesable by email or not?Thanks, Cliff||
1) You can save a chat session onto a CD by using your CD burner software. Instead of choosing the option to create a music CD, choose create a DATA CD. Add the file where you have the video saved. (The video must first be saved to your hard drive)
2) You don't need to download any software to view these videos on your ofice computer, but you do need to download a codec. All it is is like an update to the Windows Media Player and takes a few seconds. Click here to download codec.
3) Steve is our Expert and all trading questions are answered by him and received in his "ask the experts" email.
|How do I know if the Ttrend long or short||I am a day trader and after study your 12 CD pack signals I feel a big change. Taking about Stochastic, over bought is 80 + and over sold is 20 -. Signals works excellent, BUT some confusion on bull trend before it reaches 80 or above it start given doji or spinning top when it reaches 50 and Stochastic is about to curve. As soon I get out. it start moving up again. My question is how do I know the trend will be long or short. OR ignore doji in situation like this.Please advise.||Remember, the signals are signals when they occur in the right place of a trend. Which is usually in the overbought or oversold conditions. A doji with stochastics at the halfway point doesn't mean as much as a doji occurring in the overbought or oversold area. A doji still needs to be considered but will not have as much importance during a trend|
|How to Join TeleChart 2005 Chat Club||I subscribe to TeleChart 2005, also called TCNet, and understand Stephen Bigalow has his own chat room there. How do I join?||
TeleChart Platinum users select 'Join A Club' and look for the club name Candlestick Forum. This was previously a private club and now open to all TcNet. There is no password required to join.
**This is separate from our Member Only private chat room.
|Thursday chat||I cannot view the chat for 3-30-06. It starts out fine, but just when the downloading is complete the screen goes blank. I still hear Steve talking, but no charts. I was able to view the archive for 3-27 just fine. Thank you.||I am sorry you are having problems playing the video. You may want to go to our page on Stock Chat Troubleshooting to be certain you have the most recent programs for running these sessions. The links for free updates is available on that page. To date we have no other emails regarding problems with the 3/20 recording so I believe this will resolve your problem.|
|Chat Archives||Can I copy a video file for a chat to my hard drive to view off-line?||
Yes. To do so, right-click on the hyperlink and choose "Save Target As." This will save to your hard drive for future offline use. Another way to save it is while it's playing on Windows Media Player. Click on File (from top menu) and choose "Save As."
|Trade||When you place in your comment on a stock this language: Use a close below 18.31 as your stop. Are you not that worried in it breaks that stop price during the day, but just where it closes. Thank you||I am more concerned about where the prices close. There will always be times in a trend where the selloff during the day comes well down into the previous days candle/trend but by the end of the day the buyers have picked it right back up. If I am buying with a daily signal, I want to be selling with a daily signal. What occurs during the day is just noise.|
|Customer Service||I have to contact Customer Service. Please would you send me their e-mail.thanks||Customer Service is available by selecting the "Contact Us" area at the top of our website. You may always send an email to email@example.com For phone support call toll free to 1-866-251-4015|
|New to Candlesticks Trading||I am new to trading the stock market and new to candlestick trading and reading candlestick charts. Where do I begin?||
First, be sure you sign up for our Free Newsletter to receive new topics on Candlestick Charts and Candlestick Patterns.
I would suggest you go to our Free Resources area and review Candlestick Images and Explanations where we list the major candlestick signals with pattern recognition and a "How to Trade" article specific to each Candlestick Signal.
If you do not currently subscribe to a newsreader, you may look at All Free RSS News Feeds, every article is posted there with a link to the article. They are in date order starting with the most recent article at the top of the page.
Finally, without any charge to you, there is an area in our site called Stock Chat where you can join Stephen Bigalow on Thursday evenings for stock market review and information for trading with Candlestick Charts. These are also archived if you are not able to attend during the live session.
|I forgot my member password||I forgot my member password and sign-in information, can you help?||Not a problem. Leave the login and password blank and select login. While you will receive a message displaying "incorrect login" just scroll down and select "Forgot your password?" You will need to know the email address you used when you completed your membership profile. When all else fails, send us an email to firstname.lastname@example.org|
|New member - Where do I access free bonus items||I am a new member. Where do I begin?||There is an area called "New Member Orientation" which is available after you log into the member area. This should answer a lot of your questions on where to access the different Membership Benefits. Feel free to email email@example.com if you do not see your questions answered in this area.|
|ETF -QQQQ||I'm trading option on the ETF - QQQQ. Basic call and put for now. What is the effective method use for entry? I'm using (SMA 18 & 48, Bollinger Bands, StochRSI, Fast & Slow Stochastic) for entry and using the twelve signals from the new book. What will I get from the twelve CD that is not covered in the book? Thanks,David.||
Applying the information from the major signals training CDs will add insights for using signals at major moving averages and the slow stochastic. I traded the e-minis off the one minute, five minute, and 15 minute charts with great profitability. Signals work very effectively on those time frames just as they do on longer time frames.
|Candle pattern||Steve, Have you found the bullish rising 3 methods to be highly reliable patterns.Seems to me it has a tendency to fail a lot. Thanks,Joe||
The 3 methods rising pattern is a very reliable pattern. Do not let specific market conditions discourage you in their effectiveness. Use the same stop loss criteria for the three methods rising pattern as you would any other signal.
|Stochastic||Just wanted to know which stochastic reading does Stepehen use in his book(5,5 14,5 or whatever else). thank you.||
For long term investing, 14, 5, 5 is the best setting. Swing trading, 2 day to 10 day holds, 12, 3, 3 and day trading, use a combination of 12, 3, 3 and 2, 2, 2.
|Intraday Candlestick Trading||I've asked this question before but I never got a reply. Therefore, this is the much more brief and condensed version of the question:If the main crux behind candlesticks is the relationship between the opens and the closes among candles and how that conveys investor sentiment, how can intraday candlestick patterns work if a given bar's opens and closes are merely random points in a continuous time series? Indeed, any given pattern could be radically changed or become non-existent if a mere 10 seconds is added or subtracted to an intraday candle's arbitrary opening and closing points.Thank you very much.||
If the question is whether you shifted the time frames, will signals still be effective and timely. They answer is yes. All that may happen is that a bullish engulfing signal shifted by 15 seconds to the future may now become a hammer signal or vice versa. Do not try to overanalyze the mechanics. Japanese Rice traders have use these signals for all-time frames for over four centuries. If there was a discrepancy in particular time frames, that would have been clarified.
|Morning Star Search criteria||I'm getting zero stocks for Morning Star. I have the Pierced formula working now, but still have always gotten no matches on Morning Star, so I think something must be amiss in the formula. I copied it directly from the website. It looks to me like the parentheses might be the problem, but I can't figure it out.||
I have this exact formula in TC and even with my restrictions for volume and price range I had 7 stocks listed in this morning's search. (22 without my volume restriction). Considering the scan will give you results based on the pcf there are stocks that provide stronger trading potential than others, even with the criteria pulling up the Morning Star.
For example, my scan(just before market open on 3/23) pulled up ALV, CHK, DCX, PIR, SYK, AND TXI. You Will notice that CHK technically falls into the pcf but the closing on 3/22 did not go halfway up the body of the black candle. DCX, while again technically correct, tends to have too many gaps which for my trading makes the patterns less reliable. The same for SNY. SYK and ALV seem to be viable patterns.
This is my opinion, not advice, but should illustrate the pcf will pull up potential chart patterns for this scan.
Perhaps you incorporated this into an Easy Scan that is filtering out due to other criteria? Or tried the scan in a set "universe" that was too small?
|Your videos||Have read both books. Found them Very informative. Do your videos cover material not covered in the books? Would appreciate understanding how these are better, different, the same, ect. Thanks||The videos contain some duplication of content. While the book covers specific signals and trading criteria the effectiveness of the videos is in the illustrations and step by step instruction. This is extremely helpful to speed the learning process thru graphic illustration.|
|Effectiveness of intraday candles||I have read Mr. Bigalow's Profitable Candle Stick Trading, and am looking to build my own intraday candle stick trading system. In the book, and in other books on the subject, it is stated that candle stick patterns work on all time frames. While that initially made sense to me, I've thought of a potential problem that I'd like to ask about. Basically, the main crux behind candlesticks is the relationship between the open and the close and how that conveys investor sentiment. While that makes sense for a daily chart, an intraday chart, 15 minute say, is something totally different. What I mean by this is that the "opens" and "closes" on these bars are not true market opens and closes, but rather arbitrary points during the day where that particular bar happened to open and close. So while on a daily chart, an open represents the fact that investors are starting a fresh new day and the close represents that the day is ending (thereby giving significance to these times and influencing investor perceptions and actions towards them), investors are totally unaware of the opens and closes on a 15 minute bar. And thus is it really a significant time period that keeps the effectiveness of candle patterns intact? Indeed, if you see a pattern on a 15 minute bar, you know you could get a completely different pattern simply by making that bar a 12 minute or a 17 minute one. The main issue then is that even though it seems there are opens and closes that form the 15 minute bars, in reality it is just continuous trading- unlike daily bars which are interrupted by true opens and closes that mark actual perceivable timeframes for the bulls and bears to battle. So without perceivable time frames, why does it matter if you wait for a candle to actually close to show if the pattern was formed or not? After all, the close was just an arbitrary time point with no significance. Does that not then negate the significance of the intraday patterns all together?I would really appreciate it if this issue be given some real thought, and I would love to hear Mr. Bigalow's personal response if that's possible.Thank you very much.||
The analysis of a trend can be evaluated with the candlestick signals by applying the one minute chart and five minute chart to the 15 minute chart. If the set up for the one minute chart and five minute chart is bullish, while the 15 minute chart has not shown a reversal signal yet, if it is in the oversold condition the 15 minute chart can be anticipated as to what formation would be formed if the one minute chart and five minute chart continued in an upward direction for their respective time frames.
As far as the open and the closes, the shifting of the time frame may alter the signal formation, however it may change the formation from one bullish signal to another bullish signal. The Japanese Rice traders must have addressed this factor over the past 400 years. A reversal in investor sentiment apparently is recognized no matter when you want to start a time frame.
|bullish kickers, sector analysis||I have purchased Mr Bigalow's book & found it an excellent resource. Am I right in saying that the bullish (bearish) kicker signal with stochastics to match is the most reliable reversal signal of all & from that point of view is the on most worth trading?My next question deals with sector analysis & how it fits in with candlestick analysis. For example would following the charts of the various sectors for a reversal & track sector stocks waiting for a bullish (bearish) kicker (ie waiting for both charts to be in sympathy with the kicker signal on the stock chart) Do you know of any more reliable sysytems than this.Regardssteve||Bullish and bearish engulfing signals are very reliable signals when the stochastics are confirming, but no more reliable than any of the other 12 major signals. The signals will appear in specific market conditions. There are some times when the engulfing signals are prevalent but the next market reversal may reveal hammers. I would not look for a specific signal, simply learn the 12 major signals and be ready to identify them when they do occur. As far as sector analysis, the sectors can be scanned just as easily as individual stocks. Look for the sectors that are oversold and forming a candlestick buy signal. Then look at the stocks in that sector to see which ones are forming the best reversal signals individually.|
|JAS pick||I am really learning from your service, thanks.QUESTION - should we be cautious of JAS since it is below the 200 and 50 day ma and has risen with decelerating volume. Wouldn't we have to assume it will test the 50 day ma giving us a small potential?SECOND QUESTION - any seminars in Boston on the list for the future?Thanks.||
The moving averages should be a factor but the signal and or the pattern should be your predominant factor. Once analyzing what the pattern in the signals are telling us, then use the moving averages as technical levels forwatching.
As far as seminars in the Boston area, we have not found any major clubs in that area. If there are some clubs that would be interested in a free seminar, please contact us and let us know who they are.
|Denver Trading Group||Thanks for the presentation. i look forward to joining your group.Attached are some ideas!ISLEPQEARCWINDSFEACFOMMISVMEDXTRMS||Enjoyed talking to the Denver group. Please join our group at the candlestickforum site. You will find many benefits for learning candlestick signals|
|Who is Dave Elliot||Did Dave Elliot work in Seattle for the Wade Cook Seminar Group in the 1996 through 2000 or so time frame?||I think so, he has mentioned working with Wade Cook in the past|
|Forex with Candles||Where do you suggest I go for the best candle based forex analysis discussion and education?||
If you learn how to use the candlestick signals correctly, you can make an analysis of the direction of each individual currencies and then apply that to your Forex trading. Analyzing the currencies with candlestick signals has worked very successfully for me for quite a few years
|Problem with placing Order||I keep going to a blank page after completing the order process?||There are a few known reasons this happens. If you are using internet explorer you should try clearing your cache. Sometimes you browser stores too many cookies or files and this can cause a problem. Go to Tools and Internet Options. Under the General tab you will see "Temporary internet files. - Select 'Delete Cookies' and 'Delete Files'. This usually resolves any problems. Otherwise, please leave a message at our customer service number, 1-866-251-4015 and we will contact you to provide assistance. Or email us at firstname.lastname@example.org|
|backing and filling||what is backing and filling, thanks.Mike||The phrase 'backing and filling' is often used to describe small movements in the market with no overall change in price levels|
|TC2000/NET||Is TC200/Net is equally effective with Futures FX.||NO, currently it is only working with equities|
|ERS||is it showing that it may tes t the 20 day moving average again...with that indecision on friday march 3.cheers||Utilize every indicator that you feel comfortable with using. The markets will give more emphasis on specific indicators during specific time frames. The 20 day moving average becomes predominant after an extended trend move where prices don't seem to be moving back to the major moving averages.|
|STOCHASTICS||Hi, I'm trying to use Stochastics Intra Day on my Bloomberg but it only asks for two periods. I notice in the "Ask the Experts" you give three values. What should I use ? and is there any significance to the two lines crossing other than showing an oversold or overbought situation ? Many thanks.. Jason..||If I only have two indicators spots, try 12 and three. The crossing of the stochastics is less important than witnessing a candlestick reversal signal while the stochastics are either in the oversold or overbought conditions. There are a number of investors that will buy when the stochastics cross. However, the candlestick signal may have occurred and got you into the position two or three days earlier.|
|direct connect with candlesticks||if your program is purchased by me can it be connected directly to see what is happening on the market(on line)?||
We do not have a trading program. Our website provides educational training specializing in candlestick charts.
There is a online trading platforum recommended in our site;
TeleChart 2005 Trading Program. which provides either end-of-day data or streaming live data.
|12 CDpack||Is 12 cdpack is good for forex to indentfy buy/sell.||The major signals are good for analyzing each individual currency. Then you can apply that information directly to your Forex trade combinations.|
|large upper tail||should we be concerned with in a bullish uptrend when we get a up candle with a very large upper shadow.||
There should be some concern when an upper shadow appears but it becomes more important if the stochastics are now in the overbought condition
|thursday chat||im in australia, i cant getthursday stock chat until saturday, why cant i get it live||you should be able to come on and join us live, what time is 8 pm eastern time in your time zone?|
|Scanning||Does the book, High Profit Candlestick Patterns cover the topic of scanning?||The book discusses the basic principals of scanning and understanding the formulas written for scanning. Although, candlestick charts are becoming so popular there are many pre-written scans available in software trading programs. For example the Bullish Engulfing Pattern would require writing the open is greater than the close and the close of today is greater than the open of yesterday. O<C1 and C>O1. But each software program has different ways they want the criteria written. The basic principal is the same. You may want to take a look at Personal Criteria Formulas (pcf) written for Telechart 2005. This should give you a feel for how to build your searches according to the candlestick pattern you are interested in. Additionally, do not forget to post questions in the Discussion Forum. There are many knowledgeable traders who are very generous helping one another.|
|Time frame||By looking at the candlesticks signal, what time frame is best to look in. for example Doji can be seen in 2 minute time frame and it not in 5 minute time frame. I am waiting for your 12CD pack, is it specifically mentioned which time frame the signal can be seen and will be effective.||
Time Frames are based upon the time frames in which you like to trade. If you are trading on a daily basis, the daily charts are the charts to use.
If you are trading on an intra day basis, use a combination of charts that fit best for the time frame you are trading. For example, trading the e-minis, you may want to use the one minute, five-minute, 15 minute combination. If you see a doji forming in the oversold condition of the one minute chart, you then extrapolate what the five-minute chart will look like if there are two or three minutes of positive trading after the doji. That can then be extrapolated into the 15 minute chart.
|UK stocks||Do the daily 'picks' include UK stocks?||No, just the US stocks but the training provided on the candlestick forum allows an investor to analyze very quickly stocks in any market.|
|Dailiy Stock Picks||Why are they not updated? Ijust looked at SIMG and it is dated 2/17/06. What's up.||Sometimes over the weekend the picks may not be put up until Sunday night, or on a long weekend Monday night. We usually try to have them up by Friday evening but sometimes travel conflicts delay the process.|
|Profitable Candlestick Trading, Chap 14 The Ultima||Scenerio: Age52 Eligible to retire @ 80K a year. 28K in a Thrift Savings Program (TSP-Federal Government). 2 years to pay off all bills except house. Funds are tight. Minimal amount to invest ($200-500) a month. Two years from now in retirement $1000 plus a month to invest. Eager to start. Can I take advantage of Chap 14 and use my TSP? If not, Do I have to settle with my meager amounts until I am retired and my bills are paid off? Open for suggestions!||
Chapter 14 process requires a minimum of $100,000. With the amount of funds that you have available, would suggest learning how to use the candlestick signals to be able to invest correctly what ever amount of funds you have available when you retire.
|Entries||I have just read Profitable Candlestick Trading and found it to be very good. My question is what are the proper entry's after a pattern has occured as an example, after a Doji, does one wait until the high/low is violated to enter. This question would apply to all of the major signals especially the ones that were noted as needing a confirmation.Thank you.||Confirmation of a candlestick buy signal usually is as simple as seeing new buying continuing the next day. For example, after a doji in the oversold area an aggressive investor might buy immediately where as the slightly more conservative investor might buy at the end of that day upon seeing a positive candle.|
|New to Investing in the Stock Market||I was going to send a chart to look at, but it seems I can not. It is a chart from the ASX. I am a candle virgin but willing to learn||If you are new to investing in the stock market, Log into our Discussion Forum - We provide an area for open discussion, much like a blog, where you can copy your chart. This discussion board has many active candlestick enthusiasts that are willing to share ideas on trading candlestick charts and candlestick patterns. There are numerous topics to review that are perfect for stock market beginners. Don't forget to register for our free stock market newsletters. To get you on your way to trading Japanese Candlesticks we have an area called Free Resources and you can begin by familiarizing yourself with the Candlestick Images and Explanations. I hope this has been helpful to get you started in your Candlestick Trading education.|
|forex trading||Hi Steve, I have just finished your first book and while i really enjoyed it, it said very little about the forex market. In view of this is your second book also more to do with stocks ect?Forex trading i find different to stocks because there is now end of day shut down therefore gaps are not common and the there is very little chande in the price of the cloes and open of each new candle. I would be very interested to hear your comments as the candlesticks are simply the best leading indicator there is, it is just difficult to find really good material on it relating to the forex merket.RegardsMark||I have been trading currencies for years. The signals work extremely well for analyzing each individual currency chart. This becomes a very simple process of doing that analysis and then applying it to the direction of the currency combinations you want to trade. We are in the process of putting a Forex trading program together utilizing candlesticks. It has been taking much longer than expected.|
|printing Major Candlestick Signals||How can I print out the Major Candlestick Signals without running out of room on the paper for the explanations.|
|Discussion forum registration||I registered for the discussion forum using my paid membership user ID and password and then saw that I should have used different ones. Is this a problem? If so, can you assist me in getting it corrected? Thanks and sorry for the inconvenience.||Not a problem, the reason it asks that you register with a different username and password is because the forum is separate from the membership. In other words, if you try to enter the forum with your membership login, it won't let you in unless you register that login for the forum as well.|
|Nintendo of japan||Im 19 or 20, cant remember which, but im interested in investing in nintendo, i think its going to do alot better in japan than in america though, so i want to buy stock in nintendo of japan, but for the life of me i cant figure out what the symbol for nintendo of japan is, or if i can even buy nintendo of japan stock. thanks!||I cannot be too much help when it comes to individual stocks in the foreign markets, sorry|
|I just fell off the turnip truck||I am BRAND NEW, a beginner, a baby. Please Help. I have done some basic research nothing more. I am reading Profitable Candlestick Trading. I like what I am reading. How and where do I get started. Please remember you are talking to a wet behind the ears novice! There are so many different opinions out there that the confusion factor is very high. I want to stay with candlestick trading. Please give me a ground up road map to follow so I dont get eat'n up or lost.Thanks so much for your time. You are my lifeline at this point. I dont know how to get started.||You are doing the correct procedure. Finish the book. Concentrate on learning the 12 major signals. That is not difficult. My suggestion would be that after you read the book, get the 12 Major Signnals CD training package. It has a lot of information put into a simplified format. Participate in the Thursday chat sessions, ( members have a chat session on Monday night also) and you will get alot of insights from those sessions.|
|Day Trading Indexes Futures with Candlesticks||I just bought Mr Bigalow's 1st book. Can I know where can I get more detailed knowledge and techniques using candlesticks with 1 min, 5 min and 15 min charts? Will Mr Bigalow's new book have my requested info? Thanks.||
The signals work in any time frame. Although most of the examples are done on daily charts, the signals were just as effectively on the one minute, five-minute, and 15 minute charts. The new book has more detailed information especially concerning the major signals.
|Chat notification?||Hi all,Darn, I missed yesterday's chat with Steve? I was being notified before now I'm not getting any reminders, etc.?best||Most of the chats will be Monday night for members and Thursday nights for everybody. We try to get the notifications out in the news letters. Let us know if you miss the next ones.|
|Belt Hold PCF for TeleChart System||I am using your Telechart, TCNet pcfs and wondered if you have one for the Belt Hold?||Several of our members share search criteria and pcfs for Telechart 2005, Worden Brothers software system. You will find two recent pcfs for the Belt Hold in our Discussion Forum. Thanks to S2 and Bookworm for generously sharing their search parameters!|
|Confusion||After a long down trend , the 60 min charts very clearly gives me a bullish Harami buy signal ,but the 180 min charts still gives a very bearish down move . Which time frame should I trust.||Not all charts are going to coincide with each other. Investigate which charts work well together. Remember, an intraday chart does not work in conjunction with the next day's charts. The candlestick signals are a graphic depiction of investor sentiment. That investor sentiment can change dramatically from the close of one-day to the open of the next day.|
|Print View||Do you have a print view available? Especially for your newsletters.||Yes, you should now be able to print the newsletters.There have been recent web revisions that solve the problem of printed text running off the page. Simply select the Print Icon on your browser and the body of the page will print without including the website's header, footer, or left-side template. Our wesite design company, CompassTechnologies.net, recently revised this feature. This will save your color ink cartridges by printing the majority of the page in black ink only. Try it out on our Gap Analysis Newsletter Article.|
|breakaway vv. exhaustion gaps?||I can't differentiate between a gap-up breakaway expecting a run, vs. an exuberence gap of exhaustion. What am I missing?||Look at where the gap up is occurring. If it is in the overbought conditions, is the gap up going through an obvious resistance level? If there's not something that would indicate that a new dynamic has come into the stock price, then it will probably be an exhaustion gap. A gap through a major resistance level now shows a new dynamic in investor sentiment.|
|index search||HEJI AM USING BIGCHARTS.COM AND I CANT FIND SYMBOLS THAT WORKS TO FIND (CAC40 DAILY CASH)AND (DAX DAILY CASH) HOPE YOU CAN HELP ME .THANKS IN ADVANCE||Sense most of Bigcharts charts are delayed, they may not have cash indexes that are trading live|
|Chat tonight?||Is there going to be a chat tonight? One indicates yes but the next line says Feb 1st?Best, Cliff||Yes. There will be a chat tonight.|
|Forex Alerts||this is my second time to ask this same question. would have a Forex alert anytime soon?||The Candlestick Forum does not currently have a specific program for alerting Forex traders. The utilization of the candlestick signals for analyzing the direction of specific currencies can be learned and produce the basic format for implementing Forex trades. The signals work very accurately for projecting market direction for each individual currency. This analysis can then easily be applied for trading.|
|Tampa Webcast Instructions||Michael Norris Telephone # is incorrect...I keep getting an "out-of-service" voice response. Number called: 1-813-994-8874. Also, Nortin Virus Scan refuses to allow to enter "Setup". Any ideas?||
That is the correct number, try dialing it again. If it contunues to be out of service, try 813-994-2929.
You might have to turn off the firewalls to allow setup.
|Affiliate Re-Seller Programs||I am interested in adding your products to my website. Do you have an Affiliate program?||
We welcome inquiries for Affiliate or Re-Seller Programs. We request that you first complete the information in "Add A Link" so that we may review your website.
All requests should go to email@example.com
|how to pick UK shares?||I live in uk and like to trade uk shares using candlestick methods.I just have difficulty to pick stocks from thousands of uk shares, can you help?||We use a scanning program produced by Worden brothers. It is currently set up for trading US stocks. However, I think they are within a few weeks of setting up a new program that can take any data feed.|
|moving averages||Hello, I am a day trader and wondering if the moving averages training video "the importance of candlestick signals at major moving averages" works with intra-day time frames? Thankyou Michael||
The training video, "Major Moving Averages," provides in-depth analysis of utilizing the major moving averages as support and resistance. Add the power of candlestick signals and you have a platform for identifying high probability trades.
There is an excellent article in our site discussing Candlestick Signals and Moving Averages . The chart patterns work in all time frames including intra-day.
|What charts are used in newsletter?||When you are refering to charts in your daily newsletter (01/11) are you using the daily chart?? This may be only for newbies like me but when you mention a pattern could you also show it in the newsletter? Thank you.||Do not understand which newsletter you are referring to. When we put out daily comments to members, it is to give them further entry strategies for the picks that have been placed in the members area a prior evening. There is a description of the signal on the charts in the stock picks area.|
|Chart Reading||New to candlecharts. Impressed with Thursady session, so thank you. Question has to do with how to actually read the charts. Using a stock that I follow - CAT - I went back to look at moves to see how candles did/didn't show the moves. But as I go through the candles it seems that almost every day has a different formation. How do you islolate what candles are meaningful and what ones need multiple days to create a pattern. If its easier can you reference 12/19 on CAT?? I hope my question was somewhat clear... Thank you..||Keep in mind, although a formation looks like a signal formation, it still needs to be evaluated as far as its location in a trend. Your example of CAT in mid-December had the makings of a kicker signal to the downside. However, the following trading days revealed indecision. And it was trading at a relatively flat trading area. Use the candlestick signals for identifying where reversals are occurring in trends. They can be used for trying to identify trading sentiment in all locations but they work most effectively when the stochastics are at the extreme end of the ranges|
|HARAMI||TOP MARKS FOR YOUR LATEST BOOK,THANK-YOU. IN A BULISH HARAMI SITUATION IS IT POSSIBLE FOR THE OPENING OF THE HARAMI CANDLE TO BE LEVEL WITH THE CLOSE OF THE BEARISH CANDLE AS IN YOUR ILLUSTRATION FIG 2-53 PAGE79?. THANK-YOU MMC||
Yes, one open and close can be equal
|Candlestick||1. All the times reversal patterns do not work it reversals failures also occur. If I follow candlestick, others also follow candlestick. So when say bukkish reversal pattern occurs all will buy then why failures occur?2. For candlestick whether the overall trend is followed as in Technical analysis or only countermoves say corrections during upmoves as downtrend are followed?||Not everybody watches candlesticks. The universe of candlestick investors is still minute. Always keep in mind that a candlestick reversal signal in an oversold or over condition provides a high " probability" that a reversal has occurred. Important term here is probability. It shows when the buyers are starting to come into a position. If it fails, it immediately tells you to get out of the position. Cutting your losses short and letting your profits run is clearly defined when analyzing candlestick signals.|
|Candlestick||which candlesticks patterns work well?||You may want to participate in the live chat sessions and review the topics in the discussion forum. Both should give you a good start to learn how to trade candlestick signals.|
|Moving Average||If I use the 50 and 200 moving averages on the daily chart, what moving averages should I use on the 240 Min chart. Thank you||The 50 and 200 simple moving average work extremely well on all-time frames. As far as daily charts, that is what most professional money managers utilize. Whether they found that it works for those time frames on a daily also means that works on the minute by minute charts , it appears to work that way|
|Rimm||Mr. Bigelow can you look at the daily chart on Rimm and verify for me if this is a Rising Method or not.||RIMM has the same elements as a rising method signal. Notice the important factor which is that the last large candle has closed above the initial large candle. This indicates that the buyers have come back into the position in with greater enthusiasm than what the first large candle conveyed. This will usually precede an uptrend.|
|Live Cattle J||What is the read on LC Apr.?? 1.stoc have bottomed 4 days ago..2.BIG Res @ 9520 3. could this be a J -hook?||Not all charts need to be traded if the trend is not clearly obvious. Live cattle chart is it a slow uptrend. However it may not been the time be buying. The leverage of commodities is so great, you may want to wait until you find a chart pattern where all the stars are in alignment. Otherwise, do not force the trade. Keep your funds sitting until a high probability trade reveals itself.|
|gold and siler charts||where can I view candlestick charts for gold and silver? The actual metal, not futures, and not stocks?||
|telecharts||Steve,I sign up for the 30 day free trail and have imputed on the PCF'S that are on your website. I basically put the doji, bullish, and bearish candle signal in 3 groups. When I run the easy scan on them I get the same stocks on each group. Yesterday run I got 9 stocks in bullish and doji and none in bearish. What am I doing wrong? Should I make an easy scan for each candle signal? Your help would be greatly appreciated. By the way you new book is fantastic. Thanks You.Paul||For Easy Scans to work you must first set your pcf (the icon fx next to the Easy Scan icon). Then you should set an Easy Scan. You might start with establishing in your Easy Scan your preferred criteria for stocks, such as price and volume. Then you can add your pcf. This can be a bit difficult the first few times. If you continue to have problems, send an email to firstname.lastname@example.org. I have been using TeleChart Software for several years and will be glad to help.|
|4x||I just bought Stephens, book entitled, Profitable Candlestick Trading, I was wondering if there is any software similar to the TC2005 software for 4x traders that you know about?||
You might ask fellow 4X traders in our "Discussion Forum" and enter your post there.
|Shipping Expenses for out of US||Will you have any of your training CDS offered in download option, similar to your e-books? I live out of the US and the shipping expenses are often as much as the product!||Great timing! We recently added a new section in our Products & Services. Many of our training CDS are now available under the 'Videos-Quick Download Options'. This will save you time and money! Just remember, if you want the actual CD to be shipped you should NOT purchase from this area. All purchases made in the 'Quick Download' option are fulfilled via download only.|
|Flash Card Error?||is there a mis-print on the new Flash Card set? Specifically on cards numbered 28 and 29?||Yes, there was a printing error. Our printer notified us there was a mixup during print and we have replacement cards available. We do not have any way of knowing which of the new sets had the misprinted cards and which sets have accurate cards. Replacement cards, for card numbers 28 and 29, are available. If your set included the misprint please send an email notification to Javier@candlestickforum.com with your mailing address. Replacement cards will be sent to you ASAP. This does NOT apply to orders purchased after December 21, 2005. All sets ordered after that date were inspected before delivery.|
|Join Your Hedge Fund||I'm very impressed by your great Candlestick Forum analysis and would like to join in (invest $50k-$100k)your Hedge Fund starting 1/1/06. Please mail me the prospectus and instructions about how to register/open an account. Thanks!||
To receive a prospectus on the Hedge Fund managed by Stephen Bigalow please send an email to email@example.com and be sure to include your mailing address.
The prospectus mailings will begin the first part of January, 2006.
|CD with Book order||I just received the 2 books I ordered but neither came with the J-Hook CD. I did indicate in the comments box to add the CD since I'm a member. Is there anything that can be done?||Absolutely! I am sorry you did not receive the cover letter explaining the CDs were shipping separately. The J-Hook CD's received an unanticipated popularity. All member's due their free CD with Book Order will receive these, shipped separately. New CDs are back in stock and will ship out on December 22nd and 23rd. We are very sorry for the delay.|
|Hedge Fund Prospectus||Please send your prospectus on your Hedgefund.||To receive a prospectus on the Hedge Fund managed by Stephen Bigalow please send an email to firstname.lastname@example.org and be sure to include your mailing address.|
|telechart2500||I am considering downloading this program. Should I sign up for the Platium service right away or should I take the 30 day free trail. What do you recommend and what support can I expect to get from the forum.Thank youPaul||
The 30-day free trial is for their Gold Service which provides end of day data. It is a great way to see if you like the system prior to the financial commitment. However, it does not give you access to the forum chat.The live chat and streaming real time charts are part of the Platinum service.
You might find other Platinum members in our "Discussion Forum" and get some personal feedback from them. I find the participants in TC chat to be extremely helpful and willing to share trading techniques.
|Did you get the new book in-house yet?||Some one told me that they expected Steve's new book to be in this week?best, Cliff||The books have arrived today Friday, December 9, 2005. Packing will be done this weekend and they will be shipped on Monday. Thank you for your patience.|
|Printing Newsletter||I've been out of town and still find I cannot configure my printer to print your newsletter without cutting off right-hand edge of printed matter. Any sugguestions you might to resolve this issue would be appreciated. See you tonight. C. W. Eggert||
Feb. 1, 2006 Update on Printing Newsletter
The Newsletter Page has been revised and will now print the body of the newsletter, without printing the outside blue templates. This keeps the body of the newsletter from running off the right side of the printed page, and saves your blue ink cartridge on your printer! Simply select the Printer Icon from your internet browser. No need to highlight selected text. The printing feature is coded to print the body of the newsletter page only.
To print pages you should first highlight the information you wish to print and right-click and choose print. Your printer should have a popup to ask if you want to print "all" or 'selection'. (you have to right-click within the text, not on a chart image to get this option) Choosing "selection" will print the newsletter only without trying to print the top and side templates. The problem with choosing print option from the top of your browser is that the printer tries to print the templates (blue area at the top and left of your screen) which causes the right hand text to get omitted.
|New Flash Cards||I see you have a new set of Flash Cards. How are these sets different?||The new flashcard set illustrates how to use candlesticks signals incorporated into reoccurring patterns that produce strong price moves. Having the ability to identify these patterns in the early stages of their formation and seeing what the candlestick signals are indicating permits investors to establish positions in trades that have a potential of some high profit moves while doing so at low risk entry levels. The candlestick signals work effectively on their own. They work more effectively when applied to the analysis of chart patterns that historically have produced high probability results.|
|Telechart has FTSE||In response to a previous question, Telechart does have FTSE. Symbol is FTSE-X.||Thanks for that information|
|Dow jones||I trade the Dow Jones daily using 9, 18 day moving average, however cannot get any consistency with winning trades. Any tips would be greatly appreciated.Sean||Tried trading with candlestick signals using the one minute, five-minute, and 15 minute chart combination|
|es||In the last 7trading days you have a tweezer an Fri just completed a 78.6% fib ret of the last selloff. Isn't this bearish? Thanks||It appears to be a tweezer bottom if we are referring to the Dow|
|INTERDAY SIGNALS OVER 2 DAYS||HI1, ARE INTRADAY SIGNALS,SAY 5 MINUTES, THAT SPAN THE CLOSE OF DAY1 AND THE OPEN OF DAY2 VALID, SUBJECT TO STOCHASTICS ETC2,WHY IF YOU HAD A BULLISH HARAMI FORMING AND THE CLOSE OF THE HARAMI EXTENDED ABOVE THE OPEN OF THE PROCEEDING BLACK CANDLE WOULD THAT NOT BE AN EVEN MORE BULISH SIGNAL, THANKYOU FOR YOUR TROUBLE. MMC.||I do not use candlestick signals from one day to the next. Keep in mind that the signals are the graphic illustration of investor sentiment. There is many hours between the time of the close one day and the open the next day that can alter investor sentiment. If you are trading intraday, use the intraday charts. If you are trading on a daily basis, use the daily charts|
|What is the advantage of purchasing Telechart2005||I notice you sell Telechart2005 memberships. What do I get if I purchase through you and not TCNet?||
We recommend Telechart2005 but we do not sell this program. You would still be purchasing through Worden Brothers, owners of Telechart 2005, also known as TCNet.
|Shipment Date for New Book?||I purchased your new book and wondered when it should be shipped? When I selected "Check Order Status" it say sthe order is processing.||
Steve's latest book, "High Profit Candlestick Patterns" is scheduled for shipment on December 15th.
|bull kicker & bear kicker||I would like a scan with pfc's for the bull kicker and bear kicker||The formulas for these and many other Candlestick Signals are available under FREE RESOURCES in our website|
|Evening/Morning Star||Hello, I am having trouble writing the criteria formulas for Worden Brothers TeleChart 2005 easy scans. Do you have any written formulas?||If in doubt, pull the formulas off our site and copy and paste. The criteria formulas for Major candlestick signals are in our "Free Resources" category. Click here.|
|Getting Started||Where does one begin with learning candlestick charting? Approximately how much is required to be spent on materials? How much time is needed to be spent on learning before I could expect to make profits with candlestick charting? I realize there are many variables - I am looking for ballpark or average estimates.||Read "Profitable Candlestick Trading" and your investing should improve immediately. Getting fine tuned will be watching our evening chat sessions and watching why the picks we put out are being recommended. This will provide constant education that should produce profits as you learn.|
|using candlesticks for small time window/tick wind||Is there a book, article or other material that will show how to use candlesticks for high probability trades on the 250 tick, 1 minute, 3 minute charts for index futures? I have found that fairly often the candlestick reversal patterns (e.g. bullish or bearish engulfing) do not play out favorably on this small time window markets, as contrasted with, say position trades or larger time frame trading windows.||use a combination of the 1,5 and 15 minute charts, that combo will confirm itself on each other. I traded e-mini's very successfully using that strategy.|
|gold stocks||gold stocks are heating up and is this good for the market?||market for equities in general are not showing any signs of sellers yet. This is likely the Santa rally everybody was anticipating. Gold chart , although overbought is not showing any signs of pullback, continue to hold gold stocks until a severe sell signal appears.|
|Product: High Profit Candlestick Patterns, with Fl||I am daytrading in the forex market, taking profits at 20-50 pips. I am wondering how much it would benefit me to purchase your above mentioned package. It might seem like an odd question, but I do not want to buy something that I can not apply to the type of trading I am doing. Also I expect you to be honest. Thank You||
I used candlestick signals to very successfully trade e-minis and the currencies over the years. I would use a one minute chart, five-minute, and 15 minute chart combination as far as trade among Forex charts, they should work as successfully as anything else. If you cannot use them specifically for the Forex charts, the signals work very effectively for analyzing the overall direction of a specific currency. You can make your analysis of the direction of a currency versus another currency relatively easy.
As far as whether it would help you, that will be a function of how much of this information you want to apply to your trading. For most Forex traders it may not be the primary parameter for their trading technique but is valuable information for tweaking the system.
|TELECHART2005 or TCNet||DOES TELYCHART COVER THE UK FTSE100 INDEX? THANK-YOU. MMC.||Not at this time, however I think the Worden brothers company is trying to adapt their software scanning capability to any data feed. You might check with Worden brothers directly UPDATE - In response to a previous question, Telechart does have FTSE. Symbol is FTSE-X.|
|I keep getting Java entry on Chat||I am trying to enter your Chat session without "Java" but my computer keeps loading Java. What do I do?||
The most common reason Java opens when you log into the chat session is due to transition timing. When the route used to make the weblink connection is longer than the transition allows the Java client opens instead of the CL client. This is caused by falling outside of the "timing window".
The solution is to close all browser windows and then delete temporary internet files, then immediately reboot. The temporary files stored in your browser contain routing information. That should solve your problems.
|CPWM||Steve, I looked at chart and I placed an order in for a nov 20 put for CPWM @1.85(CUS-WD).I hope this trade turns out better than the ALO trade.||Nov. 11, this needs to be closed out if it closes at the top end of the trading range today|
|New Book||1) Is the new book more like a Volume 2 of the Book 1 or does it (the New Book) include most of the info from the first book?2) You already have the package deal with "The 12 Major Candlestick Signals", how about a new package deal including all the DVD's (or all the DVD's plus the Books) for a discount price?Thanks,Jonathan||
The new book has some info from book one but only to be able to continue the thought process of some of the signals in more detail.
We will work on packaging after we get all the site details straightened out
|book contents||hiwould i be right in thinking your new book is geared more towards individual stocks than indices's. thank-you,||No, the signals work well with all trading entities, stocks are the easiest for illustrative purposes|
|ALO||Whay happen with the ALO trade? It cost me a little over 2800. It happen to be my largest loss for the last five months. It hurt.I was going to do the ggc this morning but the down grade killed the trade before I could get in. I am a new member and I joined to make money not loose it. You might want to add two general trading rules, stay away from trading a stock during earnings reporting period and don't trade before 10:30. Give a little time for stock to trade so you can get a better feel.I just added them. I will be more skeptical in the future recommendations. I wish all of us best of luck.||ALO trade was an excellent trade set up. Keep in mind what the candlestick signals and the patterns illustrate. They are the set up of high probability trade situations. The key word is probability. This trade was an excellent potential trade. However it did not work. What you do with a trade that does not work is just as important as finding the trade in the first place. The probabilities indicated that a positive open after a fry pan bottom pattern usually indicates a very strong up-move. With it pulling back like it did, creating a whole different candlestick signal illustrates that the pattern did not work. That was part of the probabilities. Everybody that participated in this trade took losses. Everybody that participated in this trade knew to get out when the traded not work. That is the point of learning what the candlestick signals and patterns tell you. You will take losses but you need to know what to do when those losses occur. Remain skeptical but remember the candlestick signals have worked for the past few centuries. The probabilities indicate that you will take more gains than losses.|
|Blow-Off Day||What is a "blow off day"?||
A blow off day is usually a big volume day at the bottom or the top. It usually will be a Candlestick reversal day, such as a Hammer at the bottom. The big volume represents all the weak sellers selling into the strong hands. This big move to the downside, then the price moving back up to form the Hammer signal is usually the very bottom or the point where a lot of stock has "blown off".
|macd||How is MACD used for making trade analysis?||
MACD is used only as a followup parameter. It usually has little to no bearing on the trade decision. The common MACD settings are 10, 30, 5.
|Why are some formations used as reversal signals a||Why are some formations used as reversal signals and other times they are not?||
A signal is only viable when it occurs in the proper setting. That setting is usually contrived by oversold or overbought conditions illustrated by the stochastics. A Candlestick buy signal is not meaningful when stochastics are in the overbought area. Conversely, a sell signal does not mean anything when found in the oversold area. Witnessing a formation in a particular area of a trend is what makes a signal a signal.
|What stochastics settings do you use?||What stochastics settings do you use?||
For long term investing, 14, 5, 5 is the best setting. Swing trading, 2 day to 10 day holds, 12, 3, 3 and day trading, use a combination of 12, 3, 3 and 2, 2, 2.
|Change membership enrollment||I am a current monthly member and want to change to quarterly membership. How do I make this change?||
Call our Toll Free Customer Service at 866-251-4015. We need to make these changes manually to ensure you do not accidentally register for two subscriptions.
|Strong Open||What is the definition of a "strong open" and a "positive open"?||
A strong open is a function of a stock price opening fairly close to the previous day's close. This would include an open that may be slightly down from the previous close due to last minute buying the night before from short covering or over exuberance. The next day may have the price opening down a little at the true supply and demand level. This still represents that the buyers are still present as would be seen in a flat open or a positive open.
A positive open is a more specific instruction. The open should open higher than the previous day's close, preferably a gap up from the previous day's trading range. This instruction is more important when a stock price is pushing on a resistance level with not as optimal stochastics. A breakout at this level is needed to make this trade a success. A flat or lower open in this situation indicates that the resistance level may be holding.