Table Of Contents
Chapter I: Candlesticks and the mass psychology
I.1. Market psychology
Once a trader becomes familiar with candlestick charting, he can get a quick and highly visual signal because of the story candlesticks tell. The psychology of the market results in simple patterns we can read.
I.2. Candlestick signal reliability
Reliable candlestick patterns can predict market reversals – either minor corrections, or full trend reversals.
Chapter II: Candlestick Pattern Recognizer
II.1. Chart set-up
Prepare your chart.
II.2. Indicator set-up
Fully customizable Candlestick Patten Recognizer with its options makes your trading comfortable.
Chapter III: Pin-ball strategy
You must have noticed that the markets tend to range more than they trend. In fact, the markets range about 70% of the time. Fortunately, the Forex market is uniquely suited to accommodate both styles, providing trend and range traders with opportunities for profit. A definite plan about where to enter, where to place Stop Loss and where to exit.
Chapter IV: Trend following strategy
As opposed to the Pin-ball strategy, we don't look for quick and small profits here. We catch the trend and ride, making a large profit in a single trade. Thousands of pips on daily trends. A definite plan about where to enter, where to place Stop Loss and where to exit.
Chapter V: Confident trades
V.1. Strong signals
This way we have predicted the big fall on EUR/JPY. While most traders were buying because they believed that the uptrend has finally recovered, we sold with confidence using a tight Stop Loss. How?!
V.2. Where to exit?
If you cut the profits too soon, the big move with profit potential is missed. Now, here is the solution.