long wicks

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celtics2
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long wicks

Postby celtics2 » Wed Oct 07, 2009 11:34 am

How do most handle long wicks, just wait em out or what? I use FXTrading Station platform.

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Postby Fxtraveller » Wed Oct 07, 2009 12:02 pm

depends a lot on situation, past momentum and timeframe. the classics such as rising star, hammer work quite well if trade accordingly- u trade away from wick.

If the wick is in the same direction as the CLOSED body of candle- then its likely to be a correction and I'll enter in the original direction

PLENTY of candle formations lessons out there, just google it ;)
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Patch
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Postby Patch » Wed Oct 07, 2009 12:29 pm

http://cgi.ebay.com/STEVE-NISON-PROFITI ... 341wt_1166

Hi celtics2

Welcome to Kreslik, I hope it helps you along to your trading goals. Above is a url listing on ebay for Steve Nison's Candle Trading Forex. I've been told he is excellent on candle sticks, in fact his is the US Daddy of Candle Sticks as in the 80s he found out about them bought of bunch of books in Japanese, paid a fortune to have them translated... You can look him up and go to a couple of his websites.

Have a great day,

Patch
In VA
Feeling Under a Load

PS TRO has written a very useful indi that give distribution of wicks and tails over you pick how-ever-many of the last candles. I've got a chart posted, I think on thread "Donational Indicators". I highly recommend this to you. I am using this indi along with the buyzone strategy, BZ for short.
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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flinux
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Postby flinux » Wed Oct 07, 2009 1:40 pm

So faith, hope, love remain, these three; but the greatest of these is love. - 1 Corinthians 13:13

celtics2
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re long wicks

Postby celtics2 » Wed Oct 07, 2009 8:33 pm

Thanks for the help folks. I daytrade EU 30 minute candles. + or - 2.5 from open and I'm off. My variation of TRO's + or - 5 with GU. The Buy Zone. I don't see much value to the various arrangements of candles aside from being easy to read. I like range trading and will follow the trend otherwise. GU's too fast for me so far, but I'll get there. My ratio is over 2/1 with runs like 7/2. Seems the tails of longs and short candles can run long causing stop outs shutting me down for awhile. Guess that's trading.

What's the deal with the wick counter in Tro's 95% of traders lose page 4. That looks helplful but I use FXTrading Station platform. His indicators are for MT4. I may switch platforms if useful. Is Tro saying his indicator indicates 1 stop out of .20 or more out of 6 in that scenario?

Excuse the rambling off topic.

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Postby Fxtraveller » Wed Oct 07, 2009 9:25 pm

flinux, thanks VERY much for the link above, brilliant read !

celtics2
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Nison book

Postby celtics2 » Thu Oct 08, 2009 1:40 am

can download the file but can't save or open it. Any input?

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Patch
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Postby Patch » Thu Oct 08, 2009 1:50 am

celtics2

Go back to the home page and get the password and cut and paste it when asked and you should be ok from there.

Hint: as I recall it the url of the site you are downloading from, read the page and you will find it I think just above the download button.

Patch
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

celtics2
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Postby celtics2 » Thu Oct 08, 2009 9:13 am

thanks, I got the file. Had to get an unzipper.

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