Thanks. What timeframe do you look at for the candles? Have you...

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Martin Gifford

5,012 Posts.

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09/06/17

14:07

Post #: 25198311
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Originally posted by stocktraderman ↑

I trade FX largely on candlestick charts but obviously FA is important.
Personally I think it's more logical than trying to value a spec stock which is open to insiders/ramps and mass hysteria. FX is far less emotional even logical especially when candlesticks and fundamentals match.

I trade several times a day but have a core position which I trade around, like now I'm heavily short of $AUD as it's trading perfectly in a range of 7570/7600 to 7370 which I believe will be hit very soon.

When I trade just before a number or political event I keep it small, say $20 a tick.

Yes, I've been doing it since my early twenties and I am well ahead(sorry, I'm not big noting myself but you asked)

Key point and I can't stress this enough is cut losses and run profits.
Booking small profits won't make you broke but won't make you rich either. It's not cutting your losses that kills so many.

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Thanks. What timeframe do you look at for the candles? Have you tried pivot points? They often work well on indices - I'll have to check on FX.

I'm actually good at candlesticks, so just experimented with just looking FX candles with no MA's or other indicators - just naked. It seems the 15 minute chart works great soon after some big news move. The candles stay reliable for a few days afterwards too. I'll explore this more.

Price at posting: 1.3271 Sentiment: None Disclosure: Not Held
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Last 1.4820		Change 0.000(0.00%)		Mkt cap ! n/a

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AUD (FOREX) Chart

Thanks. What timeframe do you look at for the candles? Have you...

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