There is no single “best” candlestick pattern. That means that the following questions will vary from person to person (and candlestick pattern to pattern):
Do I prefer one or two different candlesticks or do I like only one?
What is the shortest number of candlesticks, and which of the candlestick pattern does it correspond to? (See chart on right)
How important is accuracy for most of my trade?
How can I make this trade even more successful?
Do I want to make profit from this trade? Make money, or lose?
“It is a long shot because a successful one would be a game-changer. The chances of winning are slim, and the odds are against it.” – Barry Schwartz from his book “The Art of the Deal.”
“The odds against winning a lot of money are so low that it is almost impossible to do.” – Barry Schwartz, his book “The Art of the Deal.”
If I get a negative number, does that mean I should sell?
No. A negative number indicates that the underlying market is down more than I thought it would be this month, or that a new trend is emerging. The number does not mean you should sell. It is important to recognize that many patterns will show a negative number, and be open to the possibility of buying it back with a small gain, if it were to develop. The key difference between a negative number and a positive number is that a negative number indicates the risk of market failure, while a positive number indicates the risk of winning.
“Don’t sell anything until the current streak shows up. I’ve often said that the best way to make money betting on anything is to find something that isn’t working, and bet on it.” – Larry Seltzer
“Trading stocks is a risk-intensive endeavor — often taking weeks to produce even a couple hundred dollars — when compared to investing in high-yielding bonds or real estate. But the rewards are worth it, once you figure out the trade.” – Steve A. Sechrest
Did you know? That there is no market rule that says that, “the next stock to get under 500 dollars is a good one.”
Trading stocks is not a game. It can be addictive. But when you are the only player, you are in control.
Investing in stocks is risky, but it is a much
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