Trading using with candlesticks only and nothing else

Discussion in 'Technical Analysis' started by ndtrader14a, May 23, 2016.

  1. Just wanted to hear what the experienced and/or successful traders here thought. Is it possible to trade solely based on candlesticks, and absolutely no other piece of information - no news, no volumes, and no sophisticated TA (maybe just absolute some basics like MAs, Oscillators only). This would be the most minimal form of price action trading, so to speak. Please share your experiences and observations.
     
    murray t turtle likes this.
  2. Possibly on a long-term horizon with a good trade plan. Doubtful it works intraday. I personally wouldn't use them for any timeframe. I prefer to focus on statistics
     
  3. qxr1011

    qxr1011

    possible
     
  4. Just a couple of requests.

    1. Please explain your answers a bit. Nothing fancy required, just 1-2 sentences so that a newbie can google search and figure out what's being said.

    2. I am just starting to learn trading. So please suggest if learning to read naked charts would be a good first step forward. I am interested in seeing just how much information one can squeeze out by looking at price movement alone. In the next stage, I will add volume and some simple TA indicators. Makes sense to take this route?
     
  5. qxr1011

    qxr1011

    1-2 sentences will not help much

    yes its possible imho, but you won't be able to google how, even though there are plenty of books on candlestick analysis

    i think it would be

    it depends who is looking
    will you ever be able to reach that level of sophistication nobody knows

    next stage of what?

    stages are good for something that is known

    for example the known path can be divided into stages

    the unknown path? i do not know how to divide it into stages and what should be added

    the problem that i see is not that one at the beginning does not know where to start

    he also does not know where he is going: the parameters of the good method are undefined :)

    and when defined, usually defined incorrectly

    so it does not matter where u start, and does not matter where you going... as long as you will keep going - things will clarify itself
     
  6. you need volume, also levels
     
    murray t turtle likes this.
  7. Also catalyst
     
  8. the catalyst would be the failure or acceptance of a price level. with volume showing participation or lack of it
     
  9. Xela

    Xela


    You're confusing "TA" with "indicators", I think? Trading from bars/candlesticks only is price action trading, for sure - and that's very much part of "technical analysis". ;)

    Personally, I use volume as well. No indicators at all, but all my trading is entirely TA-based. (And it was even before I started using volume, too.)
     
    murray t turtle and ndtrader14a like this.
  10. K-Pia

    K-Pia

    Yes it's possible.
    You can even use line vs fancy candlesticks.
    Or forget about it and watch the Deep Of Market.
    But the ultimate level is to trade via Tsaheylu (Avatar).
    However the bits of "information" you find on a chart is huge.
    But actually what produces information is the brain.
    One can build a story with nothing at all.
    If I see a chart, I will add value.
    Not everything's implicit.
    Self Contained in it.
    I'll transform it.
    U2.

    Livermore began to trade watching the quotation boards.
    It's like watching the last price traded for a given security.
     
    Last edited: May 23, 2016
    #10     May 23, 2016