Getting Started in Candlestick Charting
If you are reading this, you at least have some level of interest in learning what candlesticks can do to benefit your trading. All of our students started out in the very same position..learning and getting started in Candlestick Charting. While one of our most important rules in trading is measuring the risk and reward of every decision, I would encourage you to do the same when deciding if using candles in your trading will benefit you.
Here are just a few of the Rewards of using candles in your trading:
- Candles can be used in any market as long as it has an open, high, low, and close
- Candles can be used in any time frame from one minute charts, 15 minute charts thru daily, weekly, monthly, and even longer
- Candles represent true price action which is a current indicator
- Candles help to identify early reversal signals allowing great entry and exit signals
One of the best analogies we have ever heard about learning candles and why they would benefit the new trader, or even the experienced trader who is new to using candles is that candle charts would make the chart look like it was on one of the new high definition 60 inch tv’s compared to other charts like bar charts that would make it look like it was on one of those old 13 inch black and white tv’s. Meaning, candles make the chart a fantastic visual indicator of what is going on, and who is in control of the market, the bulls or the bears. When a trader can truly understand who is in control of that specific market, the trader will have the advantage in making decisions that will ultimately benefit their trading account!
Candles will enable you to see what the market is trying to tell you. Obtaining the clues from the market is essential in making wise decisions on entries and exits. Here is the construction of a candle to show just how easy it is to understand:
Understanding candles is not difficult, but again as we have already mentioned about measuring risk and reward. There is some time needed to become fluent in understanding all of candles, but the team at Candlecharts.com has created education based on traders feedback for years on how to get there as efficiently as possible. So, now that you have a better idea on how candles can benefit you, take the next step by visiting us at Candlecharts.com.