Anyone has a strategy to predict next candle?

[TraderABC]

Hello all.

Does anyone has a strategy that can accurately (75-99%+) predict the next candle colour (up candle or down candle) and at the same time have frequent signals?

Anyone knows such a strategy? Thank you.

[easttech]

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

[Trevman]

TraderABC, if we could find an indicator like that we could do very nicley on the weekely/daily chart

easttech, can you hint at what you use to get out. i've got a pretty good way to get in, but getting out is hard and i'm not too good with predicting market exits.

[easttech]

Trevman,

I can give you the basics but I don't want to be too specific. As I mentioned I learned it from a trader who asked we not share anything we learned from him. The technique is called a 3 bar reversal using the 5 minute chart. As price approaches your target (or a strong resistance/support line), you watch the bar closes on a 5 min chart. So for example if you were in a long trade, as each bar starts closing lower, you start counting the bars backwards for 3 qualified bars. If price reaches the lower point of the lowest of those 3 bars, you get out of the trade. You also do not count inside bars as a bar. If you don’t know what an inside bar is, just look on any Forex training site and you will see what it is. It’s hard to explain in a forum thread without a picture.

So that’s pretty much it. Using this technique, it shows when the trade momentum has lost it’s strength and gives you a chance to get out before you lose all your profits or you take a bigger loss.

Andrew

[samee88]

Hi , you can read about predict next candle, by clicking here :

http://www.arabictrader.com/vb/t29473.html

then let me know your opinion about it .

thank you .