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The problem with ZN05.. is.. pt1 is much smaller than your stop loss would be if it was hit. times smaller, maybe 2 times smaller, maybe 3. you need to hit multiple pt1 wins to compensate for one losses' hit. I've found that to be THE problem in my application if your trade management style.

NA, looking at the charts I posted.. I noticed something interesting... In all of those charts in that directory... in all but 1 or 2 cases I could've gotten in "cheaper", basically at the midpoint of the hammer (or inverted hammer candle) upon retracement. That would result in cutting my losers...

There's the breakevens, the losers and the winners over 1.5 weeks. I cant make any sense of it. http://charts.dacharts.com/2005-09-16/hammers/

What do you mean by tunnel vision? If there's a valid pattern on the chart and a valid entry trigger and there's no news, reports, etc. - you wouldn't take it for sure?

i plan to do that a bit later. maybe after 1 more week of testing.

Overall the results of my trading hammers and inverted hammers as inspired by this thread are not inspiring. It's been a breakeven chop. So I guess mirror rules are not so good. On the other hand, I don't know what rulesets are good because I look at winning hammer trades and losing and I can't...

Regarding my rules for inverted hammers - they are mirrors of my rules for hammers. Regarding, the white hammer setup that you liked... I move the stop to breakeven after 6 ticks, so that trade is a loser for me no matter what. And there was no reversal signal either.

And another loser.

This WHite Bullish Hammer Pattern would be a LOSER FOR ME. it satisfied all the rules in my checklist.

What I'm looking for is stuff that is not in the books. Like actual application of candlesticks in trading (maybe a blog!?), discussion of candlesticks applied in real trading, discussion of pattern reliability, techniques of combining them with "western analysis" and so on. I DO NOT mean the...

Open of c2 will always be within 1 tick of Close of c3 because this is intraday trading. It will be either =, 1 tick higher or 1 tick lower. Thus, I dont really see the point of this rule.

I think this violatted the rule about LS of hammer being longer than bodies of previous candles (in this case it's equal). Not sure because the ruleset for Dark Bullish Hammers is still un-disclosed. BTW, FOR ME this trade would have been a loser if I would have entered it :)

Baron and they were your sponsors for some time. Do you do some due diligence when you take "outfits" as sponsors? Or it's like: if MoneyOffered > X then do TakeSponsor ().

Here's my attempt for rules checklist for Dark Bullish Hammer sub-groups being discussed in this thread. Rule #5 is an extra rule that's not in the White Bullish Hammer ruleset. I expect NA to have some corrections for this. This will be the abbreviations: LS = Lower Shadow of a candle; B =...

scalpz, I'm sorry but it's hard to take you seriously. Your behavior seems unbalanced and that usually indicates a losing trader (ie. lundy syndrome).

Candlesticks in Conjunction with S/R. Blue circles mark signal areas.

True. But those IHs were not triggered by the takeout of their Lows on the next candle. So in a sense that kind of saved us. Also those are green inverted hammers and NA found them very un-reliable (and so did I so far).

Well, yes, 1.2260 level has been tested twice already, the more times S/R is tested the more likely it is to break on the next try (according to ME anyway). Also there's the inverted hammer marked by IH (bearish) and the pattern of green candle, disrespected 3 consecutive inside small red...

whats a screen scraper? also is there something like brackettrader for oanda?

I was looking back at charts already discussed to refresh. And noticed I was unclear as to validity of one hammer pattern. I checked it against the checklist that I now have and did not have when we first discussed this chart. It seems to pass the checklist as you can see below. But I just want...