Seen this ad encouraging public to sign up for candlestick patterns workshop : traders rely 1% gut feel, 4% sma, 5% stochastic, 6% macd, 7% fibonacci, 8% trends & channels, 9% support & resistance, 60% candlestick pattern analysis. I am not a profitable trader so I like to know if this is true before I sign up.
Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random
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i think technical trading is best when there is no (or little) news – but there is plenty of market news now – mostly bad – stay out of the market for a while "my 2 cents"
Learning Candlesticks is like learning the alphabet. It is helpful, but not enough by itself. All candlesticks do is let you see "inside" a bar. They are not hard, and a half dozen basic patterns are all that are useful. The rest get sort of silly.
Learn a doji, star, hammer, engulfing patterns and you are 90% of the way there.