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08-22-09, 12:44 PM
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| Trading without any indicator (use candlestick only) does anybody know how to do that? is it possible? |
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08-22-09, 03:34 PM
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| Yes, it is possible, although candlesticks can not really be used in Forex trading the way they were developed. In 24H trading there are no gaps between daily candles, which eliminates many "pure" candle patterns. I wouldn't recommend using only candlesticks, but in combination with other basic trading concept, like support/resistance, retracements, maybe moving average, etc. You can keep trading very technically simple, with candlesticks being primary tool. Read more about Candlesticks and Forex. Last edited by grunwald; 08-22-09 at 09:07 PM.           |
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08-23-09, 11:06 AM
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| sorry, so,what i mean is that, with only see the candle, can we know where is the buyer/seller put their order?i am very sure that there are only a very few people who can trade like this, they can know that buyer/seller will buy/sell in x.xxxx level. |
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08-25-09, 10:11 PM
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| No, happy, candlesticks that already formed do not tell you where future orders are placed. They just indicate likely support/resistance zone. What you need is to access to an order book, to see size and location of pending order. Even if you could get form your broker, it would only be a sliver of total Forex volume, so not vey accurate. If you could see order book of, say Deutche Bank, that could be useful. Ubfortunately, it is not readily available. However, you can still use candles with good result. Here is couple of example of Candlesticks in Forex trading. |
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08-26-09, 12:48 PM
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| but i am very sure that in this world,there are only a very-very few person who can do that,may be only around hundreds (below 1 thousand) person around this world. they can see where is the buyer/seller will take order / take profit. very amazing, isn't it?i am 100% sure about that,although i haven't known one of them. |
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08-26-09, 05:49 PM
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| Happy, I'm afraid that you either have some concepts crossed, or you have problems explaining it. See if you can re-word your question. FX Madness. |
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08-27-09, 02:14 AM
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08-27-09, 05:11 PM
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 I don't think it is possible. Nobody knows future, even best traders, Indicators are of course not ultimate solutions but the same goes for candlesticks |
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08-28-09, 01:45 PM
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but, i'm really really sure/belief that someone can do that. |
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09-11-09, 02:02 PM
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Dear Joey, this idea is come from me, i am thinking and belief that there are only a few of people can do that (may be not more than 1,000 persons around this world) |
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09-24-09, 04:31 AM
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| hi happy  it is not impossible not to use candlesticks to trade, it was actually use as an old method for the traders before and yes you can definitely make trade without it. the reason why most traders now a days use candlesticks is to know the trading range for the day as well as the opening and closing price. If the open price is higher than the close price, the rectangle between the open and close price is shaded. If the close price is higher than the open price, that area of the chart is not shaded.  |
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09-25-09, 07:30 PM
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| This is always an interesting question. Here's my take on it: When someone says that they exclusively use candlestick charts or "no indicators" what they usually mean is that they trade based on price action. And thats great, nothing wrong with that. After a while, you can "train" your eyes to see price action using nothing but a chart. So, if I add an SMA to my chart, am I no longer trading based on price action alone? Of course not, I'm still using price action but I'm now using an SMA to help me along. It's a little like orienteering, a task where you find your way only with a compass. Sure, you can use the compass exclusively, but it becomes so much better when you use a compass AND a map. You're still doing the same thing (navigating around) just different tools to make life easier and there's nothing wrong with that. |
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09-26-09, 06:34 AM
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| At the barest level candles as just a way to graphically show price and over a given period, as does a line chart, a bar chart or even a point and figure chart. For many to view the data in candles is more visually pleasing and easier for many to read, as opposed to reading figures like a tick-tape or another form of graphic representation. What is it that people are ultimately trading...?? ( that is a rhetorical question...lol ) For many candles work as do many other forms of charting and technical analysis, it all comes down too....ONE thing... what works for individual? Then,, more important than a trading methodology is Risk & Money Management, BUT... BUT... most importantly is ones Psychology. |
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09-29-09, 01:40 PM
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