| There are many candlestick patterns in the entire | | | | available through web sites to provide candlestick |
| spectrum of the Japanese candlesticks literature in | | | | charting along with candlestick technical analysis |
| print and on the Internet. It is an enormous task to | | | | where the candlestick signals (patterns) are shown to |
| learn to recognize the candlestick patterns and to | | | | you. Then you, as the stock trader (not the |
| interpret the candlestick signals to translate into | | | | candlestick technical analyst), can use the software |
| trading decisions. It is a time-consuming task, or a | | | | provided information to make your successful trading |
| distraction in the very least, to determine candlestick | | | | decisions. |
| patterns and to interpret the candlestick signals in | | | | Examine the historical trading performance using the |
| order to decide on what to trade and when. | | | | candlestick technical analysis software on your stocks |
| You should research the different types of | | | | of choice. This will give you confidence that there is |
| candlestick patterns and how candlestick technical | | | | credence in the method and that the system works. |
| analysis works in identifying trends and trend | | | | Begin with paper trading a basket of stocks and |
| reversals. However, you should not spend time | | | | monitor your trading performance as you experience |
| deciphering stock charts looking for candlestick | | | | and refine your use of candlestick technical analysis. |
| patterns and determining if they constitute a valid | | | | When ready, proceed to real-world trading with your |
| signal. I submit that your time is better spent on | | | | new-found tool. Do not forget or abandon your other |
| other trading activities such as keeping track of | | | | trading tools and resources as candlestick technical |
| company news and events, and monitoring the pulse | | | | analysis is a complement to (not a replacement of) |
| of not only the company (and stock) but also the | | | | your trading tool box and your trading wisdom. |
| industry that the company is in. | | | | Feb 22, 2009 copyright © David S.Y. |
| You need to find software for your computer or | | | | |