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Old 29-11-2006, 21:35   #2
easttech
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Re: Anyone has a strategy to predict next candle?

Hi TraderABC,

There is no such thing, but I think I know what you’re looking for. If you download the Metatrader free charts (www.metaquotes.net) , they have a charting indicator called Heiken Ashi built in. They’re pretty good. What you look for are chart patterns (red going down, or white going up) to see if you want to take a trade. I used to use them and wait for 3 candles to close up or down and jump on the trade. The good news is I did well getting in, but knowing when to get out can be tricky. I found another strategy to know when to get out but I learned it from a well known trader and I can’t tell you what it is or he’ll probably sue my butt.

I also use a few trading strategies I learned from Avi Frister that work great for my trading style and they’re easy to use. I like easy. So as long as you work with a good trading system and manage your money (losses) correctly, you’ll do pretty good in this business over time.

Andrew
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