Just wanted to hear what the experienced and/or successful traders here thought. Is it possible to trade solely based on candlesticks, and absolutely no other piece of information - no news, no volumes, and no sophisticated TA (maybe just absolute some basics like MAs, Oscillators only). This would be the most minimal form of price action trading, so to speak. Please share your experiences and observations.
Trading using with candlesticks only and nothing else
- Thread starter ndtrader14a
- Start date
Possibly on a long-term horizon with a good trade plan. Doubtful it works intraday. I personally wouldn't use them for any timeframe. I prefer to focus on statistics
possible
Just a couple of requests.
1. Please explain your answers a bit. Nothing fancy required, just 1-2 sentences so that a newbie can google search and figure out what's being said.
2. I am just starting to learn trading. So please suggest if learning to read naked charts would be a good first step forward. I am interested in seeing just how much information one can squeeze out by looking at price movement alone. In the next stage, I will add volume and some simple TA indicators. Makes sense to take this route?
1. Please explain your answers a bit. Nothing fancy required, just 1-2 sentences so that a newbie can google search and figure out what's being said.
2. I am just starting to learn trading. So please suggest if learning to read naked charts would be a good first step forward. I am interested in seeing just how much information one can squeeze out by looking at price movement alone. In the next stage, I will add volume and some simple TA indicators. Makes sense to take this route?
1-2 sentences will not help much
yes its possible imho, but you won't be able to google how, even though there are plenty of books on candlestick analysis
i think it would be
it depends who is looking
will you ever be able to reach that level of sophistication nobody knows
next stage of what?
stages are good for something that is known
for example the known path can be divided into stages
the unknown path? i do not know how to divide it into stages and what should be added
the problem that i see is not that one at the beginning does not know where to start
he also does not know where he is going: the parameters of the good method are undefined
and when defined, usually defined incorrectly
so it does not matter where u start, and does not matter where you going... as long as you will keep going - things will clarify itself
you need volume, also levels
Also catalyst
the catalyst would be the failure or acceptance of a price level. with volume showing participation or lack of it
You're confusing "TA" with "indicators", I think? Trading from bars/candlesticks only is price action trading, for sure - and that's very much part of "technical analysis".
Personally, I use volume as well. No indicators at all, but all my trading is entirely TA-based. (And it was even before I started using volume, too.)
Yes it's possible.
You can even use line vs fancy candlesticks.
Or forget about it and watch the Deep Of Market.
But the ultimate level is to trade via Tsaheylu (Avatar).
However the bits of "information" you find on a chart is huge.
But actually what produces information is the brain.
One can build a story with nothing at all.
If I see a chart, I will add value.
Not everything's implicit.
Self Contained in it.
I'll transform it.
U2.
Livermore began to trade watching the quotation boards.
It's like watching the last price traded for a given security.
You can even use line vs fancy candlesticks.
Or forget about it and watch the Deep Of Market.
But the ultimate level is to trade via Tsaheylu (Avatar).
However the bits of "information" you find on a chart is huge.
But actually what produces information is the brain.
One can build a story with nothing at all.
If I see a chart, I will add value.
Not everything's implicit.
Self Contained in it.
I'll transform it.
U2.
Livermore began to trade watching the quotation boards.
It's like watching the last price traded for a given security.
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