Trading indicators. Candlestick pattern the best?

W Q asked:


Seen this ad encouraging public to sign up for candlestick patterns workshop : traders rely 1% gut feel, 4% sma, 5% stochastic, 6% macd, 7% fibonacci, 8% trends & channels, 9% support & resistance, 60% candlestick pattern analysis. I am not a profitable trader so I like to know if this is true before I sign up.

Jack Winston

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Tags: Candlestick Pattern, Macd, Sma

This entry was posted on Thursday, September 25th, 2008 at 1:00 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Trading indicators. Candlestick pattern the best?”

1. Michael G Says:
   September 26th, 2008 at 4:30 am

   i think technical trading is best when there is no (or little) news - but there is plenty of market news now - mostly bad - stay out of the market for a while “my 2 cents”

2. JohnGalt Says:
   September 29th, 2008 at 3:53 pm

   Learning Candlesticks is like learning the alphabet. It is helpful, but not enough by itself. All candlesticks do is let you see “inside” a bar. They are not hard, and a half dozen basic patterns are all that are useful. The rest get sort of silly.

   Learn a doji, star, hammer, engulfing patterns and you are 90% of the way there.