Candlestick Trading Strategy...

Discussion in 'Technical Analysis' started by axiom49, May 31, 2007.

  1. axiom49


    Given the feedback to my other post, I thought I better share the gist of what I'm trying to do... if my strategy is at all flawed, I'm hoping for some constructive criticism :)

    Basically, I look for certain candlestick patterns (usually inverted hammer or hanging man) that suggest reversal of trend. I then confirm these patterns using RSI/STO, trendlines, technical patterns, and anything else I can find.

    If certain criteria are met, I enter the pattern in the direction of reversal, and (hopefully) make some money the next day.

    I've been using this system since February, and have netted about $3000. Obviously, I've been working out numerous kinks over the past few months... I expect this to work better over time.

    Hopefully this makes some sense. Again, if I'm approaching this entirely wrong, I would hope someone could offer some positive feedback :)
  2. i dont see too many flaws.

    but that's just my opinion.
  3. PetaDollar

    PetaDollar Moderator

    If you post the points won/lost and sizes of the trades I could probably tell you if something was wrong or not.
  4. It's impossible to provide any positive feedback as I mention to you in your other threads due to the fact you're not posting any charts of your trade entries/exits nor explaining the specific details of your methodology.

    In addition, your posting multiple threads with different topics about the same subject.

    Thus, you should keep everything under one roof to prevent any misunderstandings.

    Once again, you must post chart examples of your trades and/or explain with in-depth detail about your recent trades where you think there can be some improvements.