I thought this was a bullish hammer, but I guess I was wrong (pic)

Quote from IronFist:

Hey. Trading's been alright. Remember that I have a corporate job so trading is just on the side (for now).

I've been trying to come up with a system to trade the open based on the EOD candle patterns, but as you can see from this thread, I still have a lot of learning to do.

How are you doing?
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Hey Iron fist,
You are on the right track..have some patience,and keep asking questions...

If I were you,I would purchase CandlePower6 Pro.Its very well priced,and you can learn a great deal from it.As you will find,to trade a candlestick in isolation has an apx 50% chance of working..

Best of luck
 
Quote from cashmoney69:

so-so I guess. 6 months into the yr, I'd hoped for a better net gain that what I see right now. I might move a lot into FX so I can get better leverage.

cm
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Is it just me, or did you say something to the effect of 'I'm not trading that well. I'd better use more leverage.'? You might consider giving it some more thought...
 
Quote from cashmoney69:

so-so I guess. 6 months into the yr, I'd hoped for a better net gain that what I see right now. I might move a lot into FX so I can get better leverage.

cm
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As long as you're up for the year... you could be doing worse.
 
Quote from BlindLemonBoosh:

Is it just me, or did you say something to the effect of 'I'm not trading that well. I'd better use more leverage.'? You might consider giving it some more thought...
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.
 
Quote from BlindLemonBoosh:

Is it just me, or did you say something to the effect of 'I'm not trading that well. I'd better use more leverage.'? You might consider giving it some more thought...
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Good point Blind!!

Cash - hopefully you caught what the lemon is telling you here...
 
Quote from IronFist:

Is this the wrong place to ask about the fundamental differences between dark hammer patterns and light hammer patterns?
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It's a good place considering your the thread starter that had questions about Hammer patterns.

In addition, you've also got some answers about the fundamental differences between Dark and White Hammer Lines or Patterns.

In fact, I wish more traders at ET would start threads like this (about Japanese Candlesticks) that uses some form of Japanese Candlestick Analysis in their trading.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
Do you draw your trendlines based on the candle BODY or based on the SHADOW?

And why?

It can make a huge difference and completely change your trendline, and since some people make trading rules based off of trendlines, it could cause you to generate a buy or sell signal at the wrong time.
 
Quote from NihabaAshi:

It's a good place considering your the thread starter that had questions about Hammer patterns.

In addition, you've also got some answers about the fundamental differences between Dark and White Hammer Lines or Patterns.

In fact, I wish more traders at ET would start threads like this (about Japanese Candlesticks) that uses some form of Japanese Candlestick Analysis in their trading.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
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So NihabaAshi where did you learn all this candlestick stuff? The way you talk about candlesticks, it's as if it has all been codified and categorized, a candlestick taxonomy if you will. I don't think the most commonly available references on the subject do that to the degree you have. Are the candlestick categories you use ones you have created through your own experience or is there a reference for them?

From what I know of candlesticks the common interpretations for them are as likely to be wrong as right. No one school of trading thought I've encountered gives as much insight as a combination of them.
 
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