Japanese Candlestick Charting Techniques
Enjoy this blog from Steve Nison of Candlecharts.com, the first to reveal Japanese Candlesticks to Western traders and investors. You will discover how to use Japanese candlestick charts no matter what you trade: stocks, options, Forex, and more. These strategies also work in any time frame, including day trading, daily, weekly, swing trading, long-term investing, and more. Receive instant updates via email.
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What does it take to be a successful trader or investor? This is a very popular question or thought among anyone who has ever considered getting into trading and/or investing. The answer to that question would certainly vary depending on who was responding to it! While there are many characteristics and traits of successful traders and investors, there seems to be a very common few that are consistent.
Among those common traits, would be the very powerful; confidence! While there are certainly other qualities of successful traders, confidence seems to resonate among those that have been prosperous for an extended period of time. So then the question is; how does a new or even long time trader/investor learn to become confident? How does a trader who has lost their confidence regain it? The answer tends to be in education and following a well laid out plan. Since executing a trade really depends on how and when to enter and maybe even more importantly of how and when to exit, what education would assist with those major concepts?
Our answer as well as thousands upon thousands of traders worldwide would be the knowledge of how to read and benefit from candle charts. While many other indicators are lagging, meaning they are telling you what happened in the past, candlecharts are an indicator of price action or a current indicator. They will be able to help understand the psychology of the current market conditions. This greatly assists in knowing when to enter and exit…as well as knowing when NOT to enter or when NOT to exit. Having reasons of when to enter and exit will certainly add overall confidence to any trader or investor.
So the next question is how does a trader/investor incorporate candles into their current or newly revised trading plan. This is a fantastic question! Candles are very easy to learn and understand. They also work in harmony with all other indicators. So if you are already using other indicators, candles would not replace them, but work with them. When candles confirm your other indicators, confidence increases, and results will certainly follow! Adding candles to your trading tool box is simple and the small investment in time will pay off over the duration of your trading and investing career. To take the first steps in adding confidence and candles to your trading plan, sign up for your free account at Candlechartsacademy.com o and watch how your confidence from candles will add to consistent success!
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