Get these three FREE Stock Investing Reports, The Best Investing Lessons, The Ultimate Investing Test and A Hedge Fund Manager’s Best Advice and discover a Stock Trading Course that can make you rich in 2010. Get the Ultimate Swing Trading Software FREE. Learn Candlestick Charting! Candlestick patterns can be very important trend reversal signals. Combining candlestick patterns with technical indicators can be very powerful. This is what Les Schwartz says about his DecisionBar Trading Software: The first myth about trading is that you have to identify what kind of trader you are. (“I trade the Russell eMini” or “I trade Forex.”) Wrong!
Trading is about making money, not putting yourself “in a box.”
There is no rule that says someone who usually trades stocks can’t trade forex.
There is no reason why a forex trader can’t take advantage of a run-up in crude by buying oil futures.
I can’t tell you how many times someone has said to me something like “I trade the Dow eMini on a one minute chart and I’m getting killed!! What should I do?” The answer is obvious. “Don’t trade the Dow eMini on a one minute chart. Trade something else.” Successful traders must have open minds and be versatile. When you are looking for something to trade, you should have only one demand:
“Show me the money!”
The good news is that with DecisionBar, you can trade any true market. All markets show a basic rhythm based on supply and demand, support and resistance, momentum and exhaustion. My DecisionBar Software will show you this rhythm and allow you to see the market as it really is. DecisionBar trading software is sophisticated, yet easy to use. Just one winning trade per month will easily pay for your membership. Sign up now at:
The second myth about trading is that you must be able to identify patterns, waves, retracement levels, etc. to be a successful trader. Wrong! This borders on insanity and is the last thing you want to concern yourself with. For every successful pattern you show me, I can show you five examples of the same pattern that failed.
This is an invention of the Trading Mafia (those guys who line their pockets by spreading misinformation) to keep you convinced that you need them and can’t possibly be a profitable trader on your own. It kind of reminds me of a book I saw once:
“99 Ways to Beat the Horses.”
My thought was that if just one of them worked, you wouldn’t need the other 98! After you learn how to consistently take money out of the market using DecisionBar Trading Software, you can experiment with chart patterns to see if they can improve your profitability, but as a means of attaining profitability, they are useless.