Japanese Candlesticks - You Need To Hear This

00:38:31
https://www.youtube.com/watch?v=ciQoyBeDWas

Zusammenfassung

TLDRIn this video, the presenter critiques the common reliance on Japanese candlestick patterns in Forex trading, claiming that they often do not provide reliable trading signals. He suggests that many traders have been led astray by the popularity of candlestick patterns and emphasizes the need for rigorous testing of trading strategies. By illustrating the shortcomings of candlestick patterns, the video encourages traders to explore alternative trading tools and make informed decisions rather than relying on hope or belief. The key message is to seek better, evidence-backed methods to enhance trading outcomes.

Mitbringsel

  • 🚫 Avoid relying solely on Japanese candlestick patterns for Forex trading.
  • 🔍 Conduct objective testing of your trading strategies.
  • 📊 Understand the market dynamics and driving forces behind price movements.
  • 💡 Explore alternative trading tools that may yield better results.
  • 📈 Hope and belief are not valid trading strategies.
  • 📝 Keep track of wins and losses to gain insights into strategy effectiveness.
  • 🔄 Combine multiple strategies for more robust results.
  • 🎯 Target your approach based on thorough backtesting and analysis.
  • 🤔 Be cautious of popular opinions that lack empirical evidence.
  • 🔑 Focus on improvement through diligent testing and adaptation.

Zeitleiste

  • 00:00:00 - 00:05:00

    The video begins with the speaker addressing viewers, particularly traders, about Japanese candlesticks and Fibonacci analysis. Acknowledging the popularity of Japanese candlesticks in Forex trading, the speaker emphasizes that this video is not for beginners looking to learn about trading with candlesticks. Instead, the focus will be on the limitations of candlesticks as a trading tool.

  • 00:05:00 - 00:10:00

    The speaker critiques the widespread use of Japanese candlestick patterns, stating that while they are simple to understand and visually appealing to traders, they ultimately do not provide reliable or accurate trading signals. This section lays the groundwork for the argument that traders often become entrenched in using tools that are popular but ineffective, leading to missed opportunities with better alternatives.

  • 00:10:00 - 00:15:00

    The historical context of Japanese candlestick trading is briefly explored, tracing it back to rice trading in Japan in the late 1800s. The speaker argues that the principles that made candlesticks useful in that market do not translate effectively to Forex trading, which differs fundamentally in terms of supply and demand dynamics. This segues into reinforcing the idea that candlesticks do not drive price movements in Forex.

  • 00:15:00 - 00:20:00

    The narrative explains how bank institutions ultimately dictate price movements in the Forex market, contrasting this with the simplistic interpretations traders often attribute to candlestick patterns. The speaker encourages viewers to understand that price action is more influenced by larger market forces and retail trader positioning than by candlestick formations.

  • 00:20:00 - 00:25:00

    Transitioning to practical advice, the speaker encourages viewers to conduct their own tests on the performance of candlestick patterns, such as hammers and dojis, rather than relying on anecdotal evidence. This section highlights the importance of empirical evidence over belief in the effectiveness of trading tools and urges traders to collect real data from their trading experiences to draw conclusions about their strategies' efficacy.

  • 00:25:00 - 00:30:00

    The speaker touches on common perceptions about the effectiveness of combining tools (like candlesticks with support/resistance or Fibonacci) and suggests that this approach can lead traders to feel successful without truly examining the quality of their methods. The message here is to critically assess the effectiveness of all tools used in trading, rather than assuming any combination will yield better results.

  • 00:30:00 - 00:38:31

    In conclusion, the speaker urges viewers to move away from reliance on Japanese candlestick patterns, advocating for a more research-driven and objective approach to Forex trading. The call to action encourages testing various trading tools and strategies thoroughly to discover truly effective methodologies in trading. This appeals to a larger quest for improvement among traders, suggesting that meaningful conversions away from popular but ineffective tools are possible.

Mehr anzeigen

Mind Map

Video-Fragen und Antworten

  • What are Japanese candlesticks?

    Japanese candlesticks are a charting method used in trading to display price movements.

  • Why should I avoid using Japanese candlestick patterns in Forex?

    The presenter argues that they are often misleading and don't consistently yield profitable outcomes.

  • What should traders focus on instead of candlestick patterns?

    Traders should focus on understanding the driving forces behind price movements, such as institutional trading.

  • How can I test my trading strategies?

    Select a currency pair and timeframe, then track the outcomes of trades based on your strategy over a significant sample size.

  • Does the presenter believe in the effectiveness of other trading tools?

    Yes, the presenter believes there are more effective tools available that traders should explore.

  • What is the main takeaway from the video?

    Traders should not rely on Japanese candlestick patterns and should conduct thorough testing of their strategies instead.

  • Is the presenter against all forms of candlestick charting?

    No, he does not oppose candlestick charts but emphasizes that their patterns should not be relied upon for trading decisions.

  • What is the nature of the arguments from the 'naysayers'?

    They typically defend the use of Japanese candlestick patterns and argue for their effectiveness based on personal experience.

  • What is the overall stance of the video?

    The presenter strongly discourages reliance on Japanese candlestick patterns and encourages objective testing of trading tools.

  • How can traders improve their results?

    By rigorously testing their strategies and seeking out better trading tools.

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Untertitel
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Automatisches Blättern:
  • 00:00:00
    well traders I'm pretty excited this
  • 00:00:02
    video will go a long way in determining
  • 00:00:05
    when it's all said and done which group
  • 00:00:07
    of people will I end up upsetting more
  • 00:00:10
    of the Japanese candlestick crowd or the
  • 00:00:13
    fibonacci crowd let's find out so after
  • 00:00:28
    over 100 videos we have barely barely
  • 00:00:30
    talked about Japanese candlesticks and
  • 00:00:34
    I'll go ahead and just say this now if
  • 00:00:36
    there are any of you out there who are
  • 00:00:38
    brand new forex traders and looking for
  • 00:00:42
    a video to help you learn how to trade
  • 00:00:44
    with Japanese candlesticks
  • 00:00:46
    you are at the wrong video he might as
  • 00:00:49
    well go ahead and hit the back button
  • 00:00:50
    now but good news is every other video
  • 00:00:54
    about Japanese candlesticks is there for
  • 00:00:56
    that purpose to tell you how great they
  • 00:00:59
    are and to show you how to use them
  • 00:01:01
    Forex video creators all over the world
  • 00:01:03
    know that if they put out a video
  • 00:01:07
    showing you how easy it is to trade with
  • 00:01:11
    a very simple candlestick or candlestick
  • 00:01:14
    pattern they can get a lot of views
  • 00:01:16
    because people are very interested this
  • 00:01:19
    is a really popular topic and they're
  • 00:01:22
    not hard to use at all compared to a lot
  • 00:01:24
    of tools out there and so for that
  • 00:01:26
    reason that explains their popularity
  • 00:01:28
    but as many of my subscribers know as
  • 00:01:31
    soon as you hear the word popular
  • 00:01:33
    attached to a Forex tool what does that
  • 00:01:36
    typically mean it means you and I need
  • 00:01:39
    to have a talk about this and in this
  • 00:01:41
    video we're going to a quick intro let
  • 00:01:43
    me just go ahead and clarify things
  • 00:01:46
    again by saying this has nothing to do
  • 00:01:48
    with you putting up a candlestick chart
  • 00:01:51
    or a bar chart or a line chart anything
  • 00:01:54
    like that up on your screen this is the
  • 00:01:57
    art I guess of using one two or three
  • 00:02:01
    Japanese candlesticks in combination to
  • 00:02:04
    determine where price is going to go
  • 00:02:07
    next that's what this is all about and
  • 00:02:10
    I'm gonna do a really quick introduction
  • 00:02:11
    we're actually going to do something we
  • 00:02:13
    never
  • 00:02:13
    to here and go over a bit of the history
  • 00:02:16
    behind this now the history is typically
  • 00:02:19
    completely irrelevant to us in the end
  • 00:02:21
    we just want to know how to win you know
  • 00:02:22
    history and who created it and all that
  • 00:02:24
    nonsense that's not what we care about
  • 00:02:25
    but I think the history can actually tie
  • 00:02:29
    in to my main point and my main point is
  • 00:02:32
    that these things are just completely
  • 00:02:34
    irrelevant for forex trading they can't
  • 00:02:37
    help you they can't hurt you they're
  • 00:02:39
    just one big ball of nothing and so many
  • 00:02:43
    forex traders get stuck using these
  • 00:02:47
    things when there are so many other
  • 00:02:49
    better options out there but they're
  • 00:02:51
    never gonna find out what these things
  • 00:02:52
    are because they're so stuck in Japanese
  • 00:02:55
    candlestick land and we're gonna go over
  • 00:02:56
    the reasons why I think this is and this
  • 00:03:00
    is really important
  • 00:03:01
    traders if any of you out there are
  • 00:03:03
    stuck in this trap or just don't realize
  • 00:03:06
    that you are there's not gonna be any
  • 00:03:07
    other material out there talking about
  • 00:03:09
    this so we need to kind of dig into the
  • 00:03:13
    reasons why people get lured into this
  • 00:03:16
    trap and refuse to leave because there
  • 00:03:19
    are a lot of you out there right now who
  • 00:03:20
    are there and you're super happy about
  • 00:03:22
    it and you don't want to leave there are
  • 00:03:25
    plenty of naysayers out there they're
  • 00:03:28
    gonna watch this video and no matter
  • 00:03:29
    what I say they're not gonna change
  • 00:03:31
    their mind and that's fine but I will
  • 00:03:34
    address you all towards the end I have
  • 00:03:38
    something to say specifically to the
  • 00:03:40
    people who are fully entrenched in the
  • 00:03:42
    Japanese candlestick camp and are just
  • 00:03:44
    waiting to sit here and argue with me
  • 00:03:45
    and look that's fine this is the role
  • 00:03:48
    that I chose to take on when there are
  • 00:03:50
    no other videos or websites or anything
  • 00:03:53
    out there telling you not to use tools
  • 00:03:56
    like this or support and resistance
  • 00:03:58
    lines and things that everybody really
  • 00:03:59
    likes pretty much all of the negative
  • 00:04:02
    energy and all the smoke is going to
  • 00:04:04
    come one way and that's over here that's
  • 00:04:06
    so I'm used to it
  • 00:04:07
    but I've also learned that most of these
  • 00:04:09
    arguments are pretty similar to each
  • 00:04:11
    other and so I want to get ahead of this
  • 00:04:12
    a little bit and I want to extend a bit
  • 00:04:15
    of an olive branch not really kind of
  • 00:04:18
    you'll just have to see but naysayers
  • 00:04:19
    stick around for that
  • 00:04:21
    so moving on the only other time I think
  • 00:04:25
    you really heard
  • 00:04:26
    mentioned Japanese candlesticks at all
  • 00:04:28
    was in the dirty dozen video this is one
  • 00:04:30
    of my most popular videos feel free to
  • 00:04:32
    go check that out but I talked about
  • 00:04:34
    twelve forex trading tools that you
  • 00:04:37
    should never ever use now the
  • 00:04:40
    interesting part about that is whether
  • 00:04:42
    you agreed or disagreed with me about
  • 00:04:45
    these tools a lot of people all of a
  • 00:04:48
    sudden thought they were a genius and
  • 00:04:50
    just said okay well you know if these
  • 00:04:52
    tools are so bad I'll just use them but
  • 00:04:56
    I'll take the opposite side of the trade
  • 00:04:59
    that I was going to go with price can
  • 00:05:01
    only go up or down so if one of these
  • 00:05:03
    horrible tools tells me that price is
  • 00:05:06
    going down well I'm just gonna go long
  • 00:05:08
    and I'm gonna be rich but therein lies
  • 00:05:11
    the problem is that the tools I
  • 00:05:15
    mentioned in the Dirty Dozen video are
  • 00:05:17
    so unhelpful that you can't even do that
  • 00:05:20
    these things pretty much work about as
  • 00:05:24
    close to a 50/50 win-loss rate as you're
  • 00:05:26
    ever going to find
  • 00:05:27
    so unfortunately simply fading them is
  • 00:05:30
    not the answer it'd be great if it was
  • 00:05:31
    but just unfortunately it's not there is
  • 00:05:35
    rarely ever a tool that you're gonna
  • 00:05:37
    find that works so poorly than just by
  • 00:05:40
    simply doing the opposite you're gonna
  • 00:05:41
    achieve good results they do exist I
  • 00:05:44
    spoke about one few weeks ago if you're
  • 00:05:47
    gonna go check out that video I did find
  • 00:05:49
    a way to use that for the opposite
  • 00:05:51
    reasons it was intended to be used and
  • 00:05:53
    achieved particular certain
  • 00:05:55
    circumstances so mark that one down if
  • 00:05:58
    you haven't seen it before that's
  • 00:05:59
    something you're gonna want to watch but
  • 00:06:01
    the main objective of the Dirty Dozen
  • 00:06:02
    video is to highlight tools that don't
  • 00:06:04
    necessarily just work really poorly but
  • 00:06:06
    just flat-out don't work at all and
  • 00:06:08
    Japanese candlesticks fall into that
  • 00:06:11
    category so like I said I don't care
  • 00:06:13
    what type of chart you have up on your
  • 00:06:15
    screen we're talking about using things
  • 00:06:17
    like this now when I bought when I blew
  • 00:06:20
    up this picture it became very hard to
  • 00:06:21
    read but you guys recognized most of
  • 00:06:24
    these you got your dough DS up here that
  • 00:06:26
    are more your single candle indicators
  • 00:06:28
    and then like a three candle pattern
  • 00:06:31
    like a morning star which would indicate
  • 00:06:33
    bullish movements so you have you have
  • 00:06:37
    reversal patterns you have continuation
  • 00:06:39
    pattern
  • 00:06:40
    you got a little bit of everything on
  • 00:06:41
    here and this is really easy for traders
  • 00:06:45
    because these are not hard to figure out
  • 00:06:48
    once you are able to learn about them
  • 00:06:51
    and see them enough times chances are
  • 00:06:55
    you're not going to miss them when they
  • 00:06:56
    come up and that's good for traders
  • 00:06:59
    because that does take quite a bit of
  • 00:07:01
    guesswork out of the equation and we
  • 00:07:03
    talked about guesswork before support
  • 00:07:05
    and resistance lines and Fibonacci and
  • 00:07:07
    things like that have a lot of guesswork
  • 00:07:09
    attached which line am I supposed to use
  • 00:07:12
    am I supposed to play price to bounce
  • 00:07:16
    off of it or break through it you know a
  • 00:07:18
    lot of unanswered questions go along
  • 00:07:20
    with tools like that but with Japanese
  • 00:07:21
    candlesticks it's pretty obvious what
  • 00:07:24
    they're telling you to do and that is
  • 00:07:27
    one of the reasons that I think that
  • 00:07:30
    their appeal is so high but as I said
  • 00:07:32
    before the problem is they're just not
  • 00:07:34
    correct often enough so let's dig into
  • 00:07:38
    the history a little bit and then I'll
  • 00:07:40
    tell you the reason why I think this is
  • 00:07:43
    so these were pretty much invented to
  • 00:07:47
    help determine the future price of rice
  • 00:07:51
    in Japan in the late 1800s so the way it
  • 00:07:56
    goes is it was credited to a man named
  • 00:07:59
    Munna he saw Houma and he was a rice
  • 00:08:02
    trader and so it's to your benefit to
  • 00:08:05
    find out if the price of rice is going
  • 00:08:07
    to be cheaper or more expensive tomorrow
  • 00:08:09
    that's going to determine a lot in what
  • 00:08:12
    you do today
  • 00:08:13
    so he created the system so we think it
  • 00:08:17
    might have come later by somebody else
  • 00:08:19
    but it doesn't really matter a guy named
  • 00:08:21
    Steve nice and wrote a book about it and
  • 00:08:22
    he's the one that pretty much took this
  • 00:08:24
    technique and brought it over to what
  • 00:08:28
    was at the time modern-day investing and
  • 00:08:29
    at the time modern-day investing was
  • 00:08:34
    stock trading remember spot forex the
  • 00:08:37
    market we trade as we know it did not
  • 00:08:39
    come around until 1996 so the main
  • 00:08:42
    things people traded for a very very
  • 00:08:43
    long time were things like stocks and
  • 00:08:45
    commodities now here's the thing about
  • 00:08:48
    that things like stocks and commodities
  • 00:08:52
    the prices of
  • 00:08:54
    and whether they go up or down are based
  • 00:08:56
    on supply and demand just like rice was
  • 00:09:00
    back in late 1800s Japan if a bunch more
  • 00:09:04
    people were wanting rice but there was
  • 00:09:06
    only so much to go around or whether was
  • 00:09:09
    bad and there was less to go around when
  • 00:09:11
    that price is gonna go up because of
  • 00:09:12
    that and then vice versa that's how
  • 00:09:15
    supply and demand works in everything
  • 00:09:16
    now I am NOT a stock trader I'm hoping
  • 00:09:21
    to get into that down the road but I'm
  • 00:09:24
    sure it probably had a place in stock
  • 00:09:27
    trading maybe it works really well over
  • 00:09:28
    there I don't know but what I do know is
  • 00:09:31
    it doesn't work in forex trading because
  • 00:09:34
    forex trading is not based on supply and
  • 00:09:37
    demand demand is there but supply is
  • 00:09:41
    irrelevant
  • 00:09:42
    alright for us spot forex traders we if
  • 00:09:47
    we want United States dollars if we want
  • 00:09:49
    British pounds if we want Kiwi dollars
  • 00:09:52
    they will always be there for us to have
  • 00:09:54
    if we want them they aren't going to run
  • 00:09:57
    out supply is not really a thing in our
  • 00:10:01
    market if it was then great things would
  • 00:10:04
    move very similar to stocks and
  • 00:10:05
    commodities and you know rice back in
  • 00:10:08
    the day but it doesn't the way our
  • 00:10:11
    market moves is not based on things like
  • 00:10:13
    this so the tools you use for things
  • 00:10:16
    like this just don't apply to our market
  • 00:10:21
    fans of this channel you know what moves
  • 00:10:24
    price up and down correct for those of
  • 00:10:28
    you who don't it's the big banks now
  • 00:10:30
    this is my most popular video on my
  • 00:10:32
    entire channel you can go watch this one
  • 00:10:33
    as well if you want and there are many
  • 00:10:35
    reasons why I think this is my most
  • 00:10:36
    popular video by far but I think one of
  • 00:10:39
    the biggest takeaways was how people
  • 00:10:42
    really did think that you know certain
  • 00:10:46
    shapes or candlestick patterns or
  • 00:10:50
    horizontal lines on a screen were the
  • 00:10:52
    things that were actually responsible
  • 00:10:54
    for price going up and down and after
  • 00:10:57
    they watched this video they got their
  • 00:10:59
    answer you have very large banks and
  • 00:11:01
    institutions that pretty much have free
  • 00:11:04
    rein and they also have the resources
  • 00:11:07
    to take price wherever they want now
  • 00:11:09
    what motivates them to take price up and
  • 00:11:11
    down is where US retail traders are
  • 00:11:14
    sitting if the majority retail traders
  • 00:11:17
    are going one way these banks will
  • 00:11:18
    simply take the price of that particular
  • 00:11:20
    currency down until retail traders give
  • 00:11:24
    up reverse course and then the big banks
  • 00:11:26
    will do the same
  • 00:11:27
    now this seemed a little hard to believe
  • 00:11:29
    at first until I pulled out the tools
  • 00:11:31
    that pretty much proved my case at the
  • 00:11:33
    end and then that was the real
  • 00:11:36
    jaw-dropping aha moment for most traders
  • 00:11:39
    but it turned out to be a really good
  • 00:11:41
    thing because once you learn what
  • 00:11:44
    actually moves price up and down you no
  • 00:11:46
    longer sit there and have this mindset
  • 00:11:48
    that certain breaks and rebounds off of
  • 00:11:52
    lines on your screen are the things that
  • 00:11:55
    caused the movement one way or another
  • 00:11:58
    so if for example you ran into a hammer
  • 00:12:02
    or hanging man which no matter when you
  • 00:12:06
    see these things or where you see these
  • 00:12:09
    things they both indicate reversals are
  • 00:12:11
    imminent so if you see these things and
  • 00:12:14
    price actually did go the other way you
  • 00:12:18
    would be inclined to think that the
  • 00:12:21
    hammer was the reason why when the real
  • 00:12:24
    reasoning the whole time was whether
  • 00:12:26
    price actually did reverse or didn't
  • 00:12:29
    reverse and just kept going the hammer
  • 00:12:31
    or the hanging man or the Morningstar or
  • 00:12:33
    any of those things had nothing to do
  • 00:12:36
    with it but so many of you over time and
  • 00:12:40
    this isn't really your fault this is
  • 00:12:42
    just because of what's out there you
  • 00:12:43
    know I don't blame you guys for thinking
  • 00:12:45
    this way but so many of you got so
  • 00:12:47
    indoctrinated with these things and all
  • 00:12:49
    these people did will show you all these
  • 00:12:53
    instances where these tools worked
  • 00:12:55
    amazingly because it's in their best
  • 00:12:57
    interest to do that that you completely
  • 00:12:59
    drank the kool-aid and you only trained
  • 00:13:03
    your eyes to look for instances where
  • 00:13:07
    this was successful and you conveniently
  • 00:13:10
    ignored the times where it didn't work
  • 00:13:12
    at all and even if that's not true even
  • 00:13:15
    if you were objective enough to see the
  • 00:13:19
    times where they
  • 00:13:20
    and when they lost you are probably a
  • 00:13:23
    lot more supportive of the winds and
  • 00:13:25
    more dismissive of the losses because at
  • 00:13:30
    the end of the day we just want to
  • 00:13:31
    believe I mean how great would it be if
  • 00:13:34
    these things actually did what they were
  • 00:13:35
    supposed to do way more often than they
  • 00:13:38
    didn't that'd be awesome
  • 00:13:39
    so we believed and we didn't really test
  • 00:13:44
    these out the way we're supposed to
  • 00:13:45
    instead we just kind of hoped that they
  • 00:13:49
    would carry us through to the end and
  • 00:13:51
    when it was all said and done they
  • 00:13:53
    didn't do that if you guys all became
  • 00:13:56
    millionaires or professional forex
  • 00:13:58
    traders by using Japanese candlesticks
  • 00:13:59
    you probably would not be here right now
  • 00:14:01
    chances are these things have yet to pan
  • 00:14:04
    out the way you want them to and the
  • 00:14:06
    reason why is because things like belief
  • 00:14:09
    and hope are not an actual strategy and
  • 00:14:13
    to form an actual strategy you need real
  • 00:14:16
    numbers and real evidence behind what
  • 00:14:19
    you are putting together all right so I
  • 00:14:22
    proposed this to you all right this is
  • 00:14:25
    gonna take a little bit of work but as
  • 00:14:27
    people who subscribe to this channel can
  • 00:14:30
    attest it's not an overwhelming amount
  • 00:14:32
    of work and the results you get in
  • 00:14:36
    return for just a moderate amount of
  • 00:14:38
    work are absolutely life-changing at
  • 00:14:42
    best and a marked improvement probably
  • 00:14:45
    at the very worst hoping and believing
  • 00:14:47
    gets you nowhere putting in the work and
  • 00:14:51
    finding out if these things actually do
  • 00:14:53
    what they say they're going to do is the
  • 00:14:55
    only way to know for sure so for example
  • 00:14:59
    now take any random time frame random
  • 00:15:03
    currency pair out there put it up on
  • 00:15:06
    your screen and say let's let's just say
  • 00:15:08
    for the pound dollar I'm gonna go to the
  • 00:15:10
    daily chart and I'm gonna take a
  • 00:15:11
    one-year sample size all right then take
  • 00:15:16
    take the hammers in the hanging men
  • 00:15:17
    because they're really easy to see
  • 00:15:18
    they're a lot easier to determine then
  • 00:15:20
    maybe a two or three candle pattern
  • 00:15:22
    would be so since they're so easy and
  • 00:15:24
    people think they work so well count
  • 00:15:27
    them and off to the side on a
  • 00:15:29
    spreadsheet or a piece of paper you if
  • 00:15:33
    have a money management strategy in
  • 00:15:34
    place and I hope you do if you don't man
  • 00:15:36
    it doesn't matter what you do and if you
  • 00:15:38
    need one I have a video on that I will
  • 00:15:40
    link that below but have that ready and
  • 00:15:42
    then enter a trade every single time a
  • 00:15:48
    hammer or hanging man or gravestone you
  • 00:15:52
    know they're all they're all kind of
  • 00:15:53
    that same family every time one of those
  • 00:15:55
    things presents itself and see how many
  • 00:15:57
    times it would have made you pips and
  • 00:15:59
    see how many times it would not have and
  • 00:16:01
    then once you have done that you're not
  • 00:16:04
    done don't get too married to the idea
  • 00:16:07
    of the results you just got because
  • 00:16:09
    you're gonna have to do this more often
  • 00:16:11
    you do not have a good sample size in
  • 00:16:13
    front of you at all you need to keep
  • 00:16:15
    doing this in different places how many
  • 00:16:17
    times I don't know maybe 10 15 times I
  • 00:16:20
    mean I can tell you this right now the
  • 00:16:22
    reason why we're not going to my charts
  • 00:16:23
    right now is because on most of these
  • 00:16:24
    charts you're not gonna get a whole lot
  • 00:16:26
    of examples these things don't pop up a
  • 00:16:27
    whole lot which is kind of good because
  • 00:16:30
    it's not gonna take you a very long time
  • 00:16:32
    to do this little experiment but you're
  • 00:16:34
    gonna find out one of two things either
  • 00:16:36
    I am wrong and these things work
  • 00:16:40
    amazingly and you need to go all-in on
  • 00:16:42
    things like hammers and hanging mint and
  • 00:16:45
    if that's the case hey great I'm glad I
  • 00:16:47
    was of help here I just want everybody
  • 00:16:50
    to win I mean I have my own opinions on
  • 00:16:52
    which path to take for sure but if I
  • 00:16:55
    helped you get there and the opposite
  • 00:16:56
    way I intended at least I helped you
  • 00:16:57
    help you get there I'm happy to help or
  • 00:17:00
    you're gonna find out that everything
  • 00:17:02
    you thought you knew about these things
  • 00:17:05
    once you actually put pen to paper and
  • 00:17:07
    really start to test these things out
  • 00:17:08
    was completely wrong and the odds are
  • 00:17:12
    heavily in favor of that happening I
  • 00:17:14
    mean if you're completely objective here
  • 00:17:16
    but when this is all said and done this
  • 00:17:19
    is a huge accomplishment for you because
  • 00:17:22
    you just did and you just finished doing
  • 00:17:27
    something that almost nobody ever
  • 00:17:30
    bothers to do what people almost always
  • 00:17:34
    do because people are lazy and they just
  • 00:17:36
    want to hope and they just want to
  • 00:17:37
    believe and they think that's a good way
  • 00:17:38
    to go is like I just said before they
  • 00:17:41
    only pay attach the times they win
  • 00:17:43
    because they're so easy to see I mean
  • 00:17:45
    these hammers for example
  • 00:17:47
    it usually swing highs and swing lows
  • 00:17:49
    and those are super easy to see so we
  • 00:17:51
    get all excited and then if they happen
  • 00:17:53
    right in the middle of a trend and they
  • 00:17:56
    don't work those are not the easiest
  • 00:17:59
    things to see and if we do happen to see
  • 00:18:01
    him then we just kind of you know
  • 00:18:02
    explain it away or we don't count it as
  • 00:18:06
    an actual loss you know we don't do this
  • 00:18:08
    the right way we don't throw any real
  • 00:18:10
    objectivity at this but there is a
  • 00:18:12
    reason why this happened in the first
  • 00:18:16
    place and even though I have touched on
  • 00:18:19
    all these pretty much already in this
  • 00:18:22
    video we need to go over them again
  • 00:18:24
    because I think we can all admit one at
  • 00:18:29
    least one of these things if not more
  • 00:18:30
    have happened to us in the past so first
  • 00:18:32
    off there is worldwide support for these
  • 00:18:34
    things I'm not honestly I got to be the
  • 00:18:36
    first person up here telling you not to
  • 00:18:38
    use them if there's other videos and
  • 00:18:39
    websites out there that's fine I figure
  • 00:18:41
    there has to be at least one or two but
  • 00:18:42
    I do my research on these things before
  • 00:18:45
    I make these videos I did not find one
  • 00:18:47
    so we can pretty much say with
  • 00:18:49
    confidence that all you have heard all
  • 00:18:52
    of the inputs going into your ears and
  • 00:18:54
    your brain was nothing but overwhelming
  • 00:18:56
    support for these patterns so why
  • 00:18:58
    wouldn't you use them why would you ever
  • 00:19:01
    decide to rally against them even if
  • 00:19:04
    they're not working out well for you you
  • 00:19:05
    know the whole world all these people
  • 00:19:07
    with videos and Twitter feeds and stuff
  • 00:19:10
    like that have a bunch of followers they
  • 00:19:12
    got know what they're talking about
  • 00:19:12
    right and if this is just what we see
  • 00:19:15
    over and over again you can't expect us
  • 00:19:17
    to think otherwise I get it but for some
  • 00:19:19
    reason people just don't do the math
  • 00:19:22
    here they don't run those little tests I
  • 00:19:24
    just showed you how to do and they also
  • 00:19:27
    don't make the connection that I've
  • 00:19:28
    talked about in the past how you know if
  • 00:19:31
    there's maybe one or two other videos
  • 00:19:32
    out there denouncing Japanese
  • 00:19:34
    candlesticks that's fine but the end of
  • 00:19:36
    the day the amount of videos supporting
  • 00:19:38
    them compared to the ones that don't
  • 00:19:41
    support them have got to be 99% there
  • 00:19:43
    are far more like closer to 100 percent
  • 00:19:46
    than 99 and you've got to be really
  • 00:19:49
    careful when you see something like that
  • 00:19:51
    because the other stat that is probably
  • 00:19:56
    very close to ninety nine point five
  • 00:19:59
    nine
  • 00:20:00
    in something higher than that most
  • 00:20:02
    likely percentage-wise are the amount of
  • 00:20:05
    spot forex traders that never get to
  • 00:20:08
    where they want to be if you if you take
  • 00:20:11
    the forex traders that have really
  • 00:20:12
    achieved their goals of becoming a
  • 00:20:14
    professional or are trading somebody
  • 00:20:17
    else's money in some other capacity or
  • 00:20:20
    doing really well selling signals or
  • 00:20:23
    working for a hedge fund or have saved
  • 00:20:27
    enough to supplement their retirement
  • 00:20:29
    you know whatever your initial goal was
  • 00:20:30
    everybody has one when they first start
  • 00:20:32
    trading this market and if you take all
  • 00:20:35
    of the people who have fulfilled that
  • 00:20:37
    goal all right I would be willing to bet
  • 00:20:40
    really good money that those select few
  • 00:20:44
    people make up a fraction of one percent
  • 00:20:49
    of the entire amount of spot forex
  • 00:20:52
    traders in the world right now so when
  • 00:20:54
    you hear me refer to the 99 percent
  • 00:20:56
    that's what I'm referring to
  • 00:20:59
    all right so we have over 99 percent of
  • 00:21:03
    the people on any kind of social media
  • 00:21:07
    or websites supporting Japanese
  • 00:21:10
    candlesticks and then you also have over
  • 00:21:13
    99 percent of people that don't get to
  • 00:21:16
    where they want to be in their forex
  • 00:21:17
    trading and nobody ever seems to draw
  • 00:21:21
    any parallels between those two wouldn't
  • 00:21:26
    it be a lot wiser to say hey I don't
  • 00:21:29
    want to do any of the things these
  • 00:21:31
    people do I don't want to support any of
  • 00:21:33
    the things these people support because
  • 00:21:36
    in doing so my chances go way up but
  • 00:21:39
    somehow people just don't put two and
  • 00:21:41
    two together here alright so those are
  • 00:21:44
    the two main reasons I think and then
  • 00:21:46
    the other two reasons we already talked
  • 00:21:47
    about is how easy these little patterns
  • 00:21:50
    and candlesticks are to spot and because
  • 00:21:52
    of that the winds just by nature of you
  • 00:21:55
    know how they operate are very easy to
  • 00:21:57
    see and the losses are not so easy to
  • 00:21:59
    see and a lot of times if we're able to
  • 00:22:02
    see them we just don't want to so if you
  • 00:22:04
    have traded Japanese candlesticks and
  • 00:22:07
    have not gotten the results that you
  • 00:22:09
    wanted with them
  • 00:22:12
    these four reasons one of them probably
  • 00:22:14
    applies to you and there just hasn't
  • 00:22:17
    been anybody around to really form a
  • 00:22:20
    semi logical argument as to why these
  • 00:22:24
    things underperform but now that we have
  • 00:22:28
    gone over all of those things I hope it
  • 00:22:31
    resonates with you I hope it inspires
  • 00:22:32
    you to make improvements on your trading
  • 00:22:35
    right now whatever those improvements
  • 00:22:37
    are but above anything really I hope it
  • 00:22:40
    inspires you to actually take what you
  • 00:22:42
    are using and objectively test them out
  • 00:22:46
    because I can tell you almost for a fact
  • 00:22:50
    that the naysayers don't and if for some
  • 00:22:53
    reason they have they haven't done
  • 00:22:55
    enough now I normally give this guy a
  • 00:22:58
    voice and it's normally a voice in a
  • 00:23:00
    very mocking tone but I'm gonna forego
  • 00:23:01
    that this time but the arguments that I
  • 00:23:04
    know are coming is how there are these
  • 00:23:08
    patterns that you know I haven't talked
  • 00:23:11
    about I haven't mentioned and they're
  • 00:23:13
    actually really really good and this
  • 00:23:15
    video sucks because I didn't mention the
  • 00:23:18
    one that they like in my response to
  • 00:23:20
    that always is okay I could go over the
  • 00:23:23
    one you like I could go over all of them
  • 00:23:26
    in existence and test them out on my
  • 00:23:29
    charts but this video would take a month
  • 00:23:32
    and I don't know if YouTube even allows
  • 00:23:34
    that so we're gonna keep things simple
  • 00:23:36
    but on top of that I get the argument
  • 00:23:39
    saying well you can't just use them on
  • 00:23:41
    their own VP you got to combine them
  • 00:23:43
    with support and resistance lines or
  • 00:23:45
    with Fibonacci or with the RSI and then
  • 00:23:50
    that's where you get the really good
  • 00:23:52
    results and then sometimes I'll say I'll
  • 00:23:55
    see on my comments section well I have
  • 00:23:57
    really good results with hammers and
  • 00:23:59
    then they'll just put a period at the
  • 00:24:01
    end of that sentence okay
  • 00:24:02
    let's talk about this so all the
  • 00:24:04
    naysayers out there let me tell you what
  • 00:24:07
    most traders do including probably
  • 00:24:11
    yourselves if this strikes a nerve it's
  • 00:24:14
    because it's supposed to we're going to
  • 00:24:17
    try our best to improve on what we have
  • 00:24:19
    okay just remember that I think most
  • 00:24:22
    people the way it all began was they
  • 00:24:25
    just fall for
  • 00:24:26
    what they see on websites and Forex
  • 00:24:27
    Twitter because these people know more
  • 00:24:29
    than you do or at least when you were
  • 00:24:31
    starting out they did right and they
  • 00:24:33
    have a bunch of followers and they
  • 00:24:34
    didn't get those followers by mistake
  • 00:24:35
    they must be doing something right they
  • 00:24:38
    must know what actually works I'm going
  • 00:24:40
    to listen to them take the tools they
  • 00:24:43
    recommend and go run with it and so
  • 00:24:46
    that's how it starts
  • 00:24:47
    and then later you learn that by
  • 00:24:49
    combining these tools you can get better
  • 00:24:51
    results and this is actually correct you
  • 00:24:55
    will get better results combining three
  • 00:24:57
    tools that don't work very well then you
  • 00:24:59
    will just using one of them on its own
  • 00:25:02
    this is the case pretty much all across
  • 00:25:04
    the board if you know what you're doing
  • 00:25:06
    but I'm going to offer an alternative in
  • 00:25:09
    the next slide I don't wanna get too
  • 00:25:10
    ahead of myself but I love it when
  • 00:25:12
    people think they struck gold just
  • 00:25:13
    because they combine Japanese
  • 00:25:15
    candlesticks with support and resistance
  • 00:25:17
    with the RSI as if there was no possible
  • 00:25:21
    better route to take but we'll talk
  • 00:25:24
    about that and then what happens so
  • 00:25:28
    often because nobody wants to actually
  • 00:25:29
    put in the work nobody wants to know for
  • 00:25:32
    sure how these things actually work
  • 00:25:34
    because they're so high on hoping and
  • 00:25:37
    believing that they don't want to put in
  • 00:25:39
    the work to see the real results you
  • 00:25:42
    need to Baptist traders if you have
  • 00:25:43
    something you're considering using or
  • 00:25:45
    something you're using right now and
  • 00:25:47
    it's never been fully tested like
  • 00:25:50
    meticulously with an actual structure
  • 00:25:53
    and a process I have old podcast
  • 00:25:56
    episodes that explain blogs that explain
  • 00:25:59
    how to do this I actually will put those
  • 00:26:01
    down below in the description there's
  • 00:26:03
    one on how to do with just one tool and
  • 00:26:05
    I have another that shows you how to do
  • 00:26:08
    it with an entire system that you're
  • 00:26:10
    trading but until you've done that
  • 00:26:12
    and then you've actually forward tested
  • 00:26:14
    it as well and that's another podcast
  • 00:26:15
    episode but until you've done those
  • 00:26:16
    things you don't actually know what you
  • 00:26:19
    have you don't have real hardcore
  • 00:26:21
    evidence in front of you you might have
  • 00:26:24
    your own account in front of you that
  • 00:26:26
    can tell you something but you don't
  • 00:26:29
    know if those wins and losses are due to
  • 00:26:32
    the entry system you put together
  • 00:26:33
    whether those things are due to money
  • 00:26:36
    management or just overall bad trade
  • 00:26:39
    psychology or the news keeps getting in
  • 00:26:42
    your way if you don't learn to put real
  • 00:26:44
    numbers and evidence behind these things
  • 00:26:46
    you're gonna have no idea a where the
  • 00:26:49
    problem is and B what are the major
  • 00:26:52
    areas you can improve and if you don't
  • 00:26:54
    know these things how can you ever
  • 00:26:55
    expect to get better this is how people
  • 00:26:58
    go from break-even or losing traders to
  • 00:27:01
    profitable traders over time you have to
  • 00:27:03
    take an intelligent approach that
  • 00:27:05
    involves some work behind it it's the
  • 00:27:06
    only way to get there that's why I
  • 00:27:08
    laughs I'm gonna have people I know that
  • 00:27:09
    come in and say hey you're full of it VP
  • 00:27:11
    I'm making 80% return this year just by
  • 00:27:14
    trading doji's and I'm gonna know in the
  • 00:27:16
    back of my head that that guy is
  • 00:27:17
    completely screwed going forward because
  • 00:27:19
    one he'll never repeat that because the
  • 00:27:21
    only reason he's even there is because
  • 00:27:23
    of completely reckless money management
  • 00:27:25
    and two it's also probably has nothing
  • 00:27:28
    to do with the doji's but these are the
  • 00:27:30
    types of arguments I get when I do
  • 00:27:31
    videos like this and these are the main
  • 00:27:34
    reasons why and I want to offer
  • 00:27:36
    solutions to these problems and the last
  • 00:27:39
    two I think we've already talked about
  • 00:27:41
    you get too attached to the wins and
  • 00:27:42
    overlooked the losses I say this because
  • 00:27:44
    we've all done it I think we're all
  • 00:27:46
    guilty of this so I'm gonna I'm gonna
  • 00:27:48
    keep repeating it just because we need
  • 00:27:50
    to learn to not do this this is absolute
  • 00:27:54
    death this is trading on hope and belief
  • 00:27:57
    and hope and belief or not strategies as
  • 00:28:00
    a result you know most traders
  • 00:28:01
    especially my naysayers never get where
  • 00:28:04
    they want to be if only we could put our
  • 00:28:07
    differences aside and you could start
  • 00:28:08
    watching my videos in the proper order
  • 00:28:10
    I'm gonna put the beginners video down
  • 00:28:11
    in the description as well whether
  • 00:28:12
    you're beginner or not that's the video
  • 00:28:14
    you want to start with if you want a
  • 00:28:15
    good roadmap I am happy to help you out
  • 00:28:18
    in any way because I have helped many if
  • 00:28:22
    you go and look in the comments section
  • 00:28:24
    of the majority of my videos and if you
  • 00:28:27
    look at a lot of the tweets I get you
  • 00:28:29
    will see people who say that VP your
  • 00:28:34
    channel has completely reversed my
  • 00:28:37
    trading for the better
  • 00:28:39
    I wasn't profitable before I was
  • 00:28:41
    breakeven been doing this five 10 20
  • 00:28:45
    years never quite got to where I wanted
  • 00:28:48
    to until your channel camera and this is
  • 00:28:51
    like this is the
  • 00:28:52
    to complement I can ever get it's
  • 00:28:54
    amazing what this channel can do for you
  • 00:28:56
    I look at my competitions comments and
  • 00:28:59
    there's a lot of really good positive
  • 00:29:00
    comments but they normally say things
  • 00:29:02
    like hey you explained that really well
  • 00:29:03
    hey great video hey good description but
  • 00:29:07
    I don't often see any place saying that
  • 00:29:10
    hey your channel was responsible for
  • 00:29:13
    turning my trading around and this
  • 00:29:16
    channel has really only been around for
  • 00:29:18
    about a year and a half so we are
  • 00:29:21
    getting a lemon unless everybody's just
  • 00:29:23
    completely lying to me which I doubt we
  • 00:29:25
    are getting results here right away so
  • 00:29:28
    you probably want to do what the
  • 00:29:31
    no-nonsense forex traders are doing and
  • 00:29:33
    here's what they do instead they find
  • 00:29:36
    something I want to test whether it's a
  • 00:29:39
    price action tool and indicator whatever
  • 00:29:40
    it is and they back tested properly
  • 00:29:42
    we've talked about that and I have all
  • 00:29:44
    the material you'll ever need in terms
  • 00:29:46
    of how to do that properly and as
  • 00:29:48
    efficiently as I can possibly think of
  • 00:29:50
    then after they've done that and they
  • 00:29:54
    find something good
  • 00:29:55
    they don't just stop they keep going
  • 00:29:58
    they measured against other tools you
  • 00:30:01
    can't sit there and say that this
  • 00:30:02
    indicator of this tool is the best
  • 00:30:04
    around if you haven't even bothered to
  • 00:30:06
    measure it against other tools anybody
  • 00:30:10
    that comes on my channel and says things
  • 00:30:12
    like Japanese candlesticks are the best
  • 00:30:13
    way to go or support and resistance
  • 00:30:15
    lines and the RSI or are the only things
  • 00:30:18
    you'll ever need to make money in this
  • 00:30:19
    market these people are unintelligent
  • 00:30:22
    lazy people you know how I know this
  • 00:30:25
    because they're either doing one of two
  • 00:30:27
    things
  • 00:30:28
    they are either just parroting what
  • 00:30:31
    somebody else said that they respect or
  • 00:30:34
    they're getting decent result with these
  • 00:30:36
    tools early on but and they never ever
  • 00:30:39
    bothered to a measure it the right way
  • 00:30:43
    be measured against literally anything
  • 00:30:46
    else forex trading takes a lot of
  • 00:30:49
    initiative and learning and work and it
  • 00:30:52
    just amazes me that there are so many
  • 00:30:54
    traders out there that just don't take
  • 00:30:57
    it a step further out of the tens of
  • 00:31:00
    thousands of tools and indicators that
  • 00:31:02
    are out there they find one or two and
  • 00:31:05
    then they just
  • 00:31:05
    stop the hell's that whether you love me
  • 00:31:08
    or hate me you owe it to yourself to
  • 00:31:11
    find the best technical tools out there
  • 00:31:14
    to help you make the most money possible
  • 00:31:17
    why on earth would you do anything short
  • 00:31:19
    of that because once you have put in the
  • 00:31:22
    time and so a lot of my followers were
  • 00:31:25
    hesitant to do this at first but they
  • 00:31:27
    went ahead and did it and something
  • 00:31:29
    really great happens when you finally do
  • 00:31:31
    discover those really great tools you
  • 00:31:34
    can actually put those tools together
  • 00:31:36
    instead of putting shitty tools together
  • 00:31:39
    and the results can be nothing short of
  • 00:31:44
    extraordinary if a combination of
  • 00:31:46
    Japanese candlesticks the RSI and
  • 00:31:49
    Fibonacci is working really well for you
  • 00:31:51
    right now just imagine what you could do
  • 00:31:54
    if you found a few tools that all
  • 00:31:58
    absolutely outperform what you're using
  • 00:32:02
    right now and then put those tools
  • 00:32:05
    together they're out there they exist
  • 00:32:09
    I'm not going to tell you exactly what
  • 00:32:11
    they are but my traders found them and
  • 00:32:14
    it didn't take them that long to do it
  • 00:32:16
    and I'm gonna also link a video down
  • 00:32:18
    below called trend indicators to show
  • 00:32:19
    you you know what will make the process
  • 00:32:21
    easier back look this is pretty much
  • 00:32:25
    what you're looking for you can dismiss
  • 00:32:27
    everything else and in doing so your
  • 00:32:30
    search is going to go a lot faster so
  • 00:32:32
    are you searching for needles in a
  • 00:32:33
    haystack here yes do I do everything I
  • 00:32:36
    can to make this process go a lot
  • 00:32:38
    smoother and make the haystack smaller
  • 00:32:40
    and the needle bigger yes but until you
  • 00:32:44
    have actually done this you cannot sit
  • 00:32:46
    there and say that your way is the best
  • 00:32:48
    way and I guarantee you none of you
  • 00:32:50
    naysayers have done this but again put
  • 00:32:53
    your ego down and understand that you
  • 00:32:55
    owe it to yourself to at least give this
  • 00:32:58
    a try because the success rate for
  • 00:33:01
    people who actually do this is off the
  • 00:33:03
    charts I have yet to have one person
  • 00:33:07
    come to me and say you know what I
  • 00:33:09
    really gave your way a try I put in you
  • 00:33:12
    know hours and hours and hours with the
  • 00:33:14
    work finding indicators testing them
  • 00:33:16
    putting them together using your money
  • 00:33:18
    management's
  • 00:33:19
    strategies and in the end it's it just
  • 00:33:22
    didn't give me the results that I got by
  • 00:33:23
    using support and resistance lines these
  • 00:33:25
    words or anything like those words have
  • 00:33:28
    never been spoken to me and this is a
  • 00:33:30
    great feeling but it's so hard to talk
  • 00:33:33
    people who aren't so entrenched into
  • 00:33:35
    these dirty dozen camps into trading our
  • 00:33:37
    way because they have just been
  • 00:33:38
    indoctrinated to do things their way for
  • 00:33:41
    so long so if you are interested and
  • 00:33:44
    you'd like to come over to our side just
  • 00:33:46
    to see what it's like all right here's
  • 00:33:48
    what I'd like you to do I have all the
  • 00:33:49
    material you're really gonna need as far
  • 00:33:51
    as how to guide your way around this
  • 00:33:53
    channel down below in the description
  • 00:33:54
    but start by you know if you're in the
  • 00:33:56
    Japanese candlestick crowd take your
  • 00:33:59
    favorite combination take your favorite
  • 00:34:01
    single candlestick whatever it is that
  • 00:34:03
    you like the best and test it and be
  • 00:34:08
    100% honest you're not gonna want to be
  • 00:34:10
    you're gonna want to prove me wrong I
  • 00:34:12
    get that but take the back testing video
  • 00:34:16
    that I link down below and do it that
  • 00:34:18
    way and see what you come up with what
  • 00:34:21
    do you got to lose and then once you've
  • 00:34:23
    done that go find some other things I
  • 00:34:26
    help you with this part too and then
  • 00:34:28
    take the same rules that you used for
  • 00:34:31
    your hammers or your evening stars
  • 00:34:33
    whatever it is that you like and run
  • 00:34:36
    them through the same tests and by doing
  • 00:34:39
    this that's the only way you're ever
  • 00:34:41
    really gonna know what you have do you
  • 00:34:43
    are you using the best tools don't you
  • 00:34:45
    want to use the best tools you got to
  • 00:34:47
    find out right and you might be but you
  • 00:34:50
    might not be but this is how you find
  • 00:34:52
    out and the more often you do this the
  • 00:34:55
    larger sample size you will have and the
  • 00:34:58
    higher your chances go up to find
  • 00:35:01
    something that really truly does work
  • 00:35:03
    amazingly and then when you find a few
  • 00:35:07
    of them which you will if you do this
  • 00:35:09
    long enough you can put them together
  • 00:35:10
    and make something even more amazing
  • 00:35:13
    this is my hope for all of you
  • 00:35:15
    so in conclusion stop using Japanese
  • 00:35:19
    candlesticks please if I haven't proven
  • 00:35:22
    to you the they are not responsible for
  • 00:35:25
    your trading being good or bad really
  • 00:35:28
    they're just kind of nothing they don't
  • 00:35:30
    affect our market and
  • 00:35:33
    look really good when they do win that
  • 00:35:34
    it makes our minds think there's
  • 00:35:36
    something other than what they actually
  • 00:35:37
    are if I haven't convinced you by now go
  • 00:35:40
    do the testing and see if that convinces
  • 00:35:42
    you one way or the other also for most
  • 00:35:46
    of my traders
  • 00:35:46
    you guys might have noticed that in the
  • 00:35:49
    earlier videos that I did I used bar
  • 00:35:51
    charts now I do that because I actually
  • 00:35:54
    am I own trading use bar charts I don't
  • 00:35:56
    use candles and I do that so I don't end
  • 00:35:59
    up seeing a candlestick pattern that may
  • 00:36:03
    you know even as much as I'm against
  • 00:36:04
    them may influence my decision in any
  • 00:36:07
    way possible I know there's a weird
  • 00:36:10
    thing to bring it up the conclusion
  • 00:36:11
    because we haven't talked about it yet
  • 00:36:12
    but the only reason I switched to
  • 00:36:14
    candles is because people are
  • 00:36:17
    complaining that it was hard to see and
  • 00:36:18
    so I want to make it more visible for
  • 00:36:20
    them but I use bars all the time
  • 00:36:22
    and I recommend that you guys do the
  • 00:36:24
    same because I don't want you guys to
  • 00:36:27
    have a really great long setup ready but
  • 00:36:31
    a hammer just formed and now you're
  • 00:36:32
    gonna second-guess it because you're
  • 00:36:34
    still you know from your early days of
  • 00:36:36
    trading so trained to think that way
  • 00:36:38
    take that temptation away and just go to
  • 00:36:41
    bars that's another little tip I want to
  • 00:36:43
    throw in there at the end but if you
  • 00:36:45
    love Japanese candlesticks and you love
  • 00:36:46
    trading with them that's fine just test
  • 00:36:49
    them out instead of just saying these
  • 00:36:50
    are automatically great because I'm so
  • 00:36:52
    emotionally attached to the winds I got
  • 00:36:54
    with them no put them through the
  • 00:36:56
    wringer find out over time if they
  • 00:36:59
    really do give you great results and
  • 00:37:01
    then when you do that test other things
  • 00:37:03
    so you know for sure and then just use
  • 00:37:05
    the one that's the best or even better
  • 00:37:07
    take your top three and combine them and
  • 00:37:09
    see what that does Japanese candlestick
  • 00:37:11
    traders there is a better road to take
  • 00:37:13
    out there
  • 00:37:14
    I just don't think anybody's ever sat
  • 00:37:16
    there and explained it to you because
  • 00:37:18
    the whole forex media world is way
  • 00:37:22
    behind these things will never tell you
  • 00:37:24
    different so above anything I just hope
  • 00:37:26
    I was able to at least provide you with
  • 00:37:28
    another option if you'd like to go that
  • 00:37:30
    way so if you're unfamiliar with this
  • 00:37:32
    channel overall this channel is full of
  • 00:37:34
    videos like this and it's the only
  • 00:37:37
    channel out there that does things this
  • 00:37:40
    way so you need to subscribe and hit the
  • 00:37:41
    bell if you haven't yet like I said even
  • 00:37:44
    if you're just a
  • 00:37:44
    little bit intrigued and you're unsure
  • 00:37:48
    if you really want to go this route or
  • 00:37:49
    not you still owe it to yourself to
  • 00:37:51
    learn more about it so that beginners
  • 00:37:54
    video I'm linking down below should help
  • 00:37:56
    but for my hard cores my subs my killers
  • 00:37:59
    the ones that have told me how wonderful
  • 00:38:02
    their trading has become as a result of
  • 00:38:04
    this channel go do something about that
  • 00:38:07
    test everything backwards and forwards
  • 00:38:10
    keep improving there's improvements we
  • 00:38:12
    made all the time and go use that system
  • 00:38:15
    to take this market down and finally
  • 00:38:17
    become that fraction of a percentage of
  • 00:38:20
    traders who actually fulfill their
  • 00:38:23
    dreams that they started with in the
  • 00:38:24
    first place wouldn't that be great
  • 00:38:27
    good go get it
Tags
  • Forex trading
  • Japanese candlesticks
  • trading strategies
  • market analysis
  • trading tools
  • pattern recognition
  • trader psychology
  • risk management
  • institutional trading
  • backtesting