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[I think I failed to send this properly the first time, so I try again...]
Hello, Terry:
On 20-Jul-98, Terry Chadban wrote:
> I think that ANYTHING which helps to predict stock movements has got to be
> considered if we are going to make any money from the market.
The predictive abilities are based on a turn of a market or continuation, in
other words, whether a market is changing direction or whether the trend is
still intact. Sticks should help in the short-term to support your other
buy-sell methods.
> > Do you use them?
> Not at the moment.
Does this mean you set each chart to display only price bars or lines?
Although traditional western price bars contain the same info as candlesticks,
sticks show market psychology visually - they are not the same.
Since a large part of the market is psychological, using candles are
important to understanding the investor's mood.
> > If you don't, why don't you use them?
> I don't fully understand them at the moment, but I am trying to learn more
> about them - a brief explanation of candlesticks may be another item for
> Tomasz's 'todo' list :-)
This is a complicated subject and nobody knows everything there is to
know. Any explanation would require quite a bit of work, time better
devoted to improving AB. Your time is needed to learn by doing, too.
A very brief e-source is:
www.why.net/users/blhill/pages.aux/murrey/candlestick.html
Books by Steve Nison, Greg Morris (read his first) and others will help
a lot. Search amazon.com for ordering info.
> > Would you like to be able to search for patterns, too?
> Yes, once I learn what the various patterns ARE!
There are well over 60 patterns, some one stick, some two or more.
Start by setting AB to display candles. Some thinly traded stocks don't
work well with sticks or bars. For those I use lines. None of mine are
set to bars, which forced me to be familiar with candles.
Try it! It's easy...
Thanks for your comments, Terry.
Anyone else care to comment?
---===///||| Donald Dalley |||\\\===---
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