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As it has been oft said "what ever works for you". Candle signals are so
unreliable that you'd have to be sick to use them alone. I use bars myself
because I don't have a problem telling if the close is either above or below
the open. I think that those Candlestick programs are just another dead end
in the analysis business. I watched a friend lose a bundle trading with one.
Still, I check the alerts to see what the signal is if I'm trading it just
in case.
Brent
-----Original Message-----
From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, May 15, 1999 12:51 PM
Subject: Re: candles
>If you look at the candlesticks and compare them to standard technical
>formations you will find that they replicate one another. It is just
easier to
>see and recognize with the candlesticks. I use them on all my charts, but
>refer to them seldom for direction. They do give some excellent signals at
>times. Like anything else, they won't stand alone. Ira.
>
>Steve Karnish wrote:
>
>> Patrick,
>>
>> I haven't looked at "bars" in years...just candles (or candle volume). I
>> like Beyond Candlesticks by Steve Nison. If you think that more
formations
>> are better than a few...be careful. Certain topping and bottoming
>> formations are very reliable and helpful when combined with other sound
>> technical analysis. To think that formation #133, #237 or #2,199 will
hold
>> some secret to the unlocking direction in the market is pure folly.
Stick
>> with the less than 50 and learn to recognize them and then apply that to
>> your trading.
>>
>> Steve Karnish
>> CCT
>
>
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