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Tuesday, May 8, 2007

Command Candlestick Errors for Beginner

* No price volume analysis

* Poor profit target methodolgy (fixed targets)

* Misinterpreted and called some patterns Haramis that were obviously another candlestick pattern...a pattern with a completely different risk management

* Traded Haramis and Dark Cloud Covers with the exact same size (ignoring the fact that these patterns have different risk levels and should be traded via either a different size or 1 contract traders managing the profit targets differently)

* Chased the trade signals and enter a trade far beyond the entry signal...reducing the odds of the trade resulting in a profit or breakeven trade

Learn how to use Hammer and Hanging man for brief:

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