Hi all,
I am starting this thread for in another thread we were talking about the use of a mother candle.
It was discussed over here in the Trade Made Simpel thread.
I looked up the info about what exactly a mother candle is and how to use it in decision making.
What I found was very interesting but I have one concern.
If you look at the image below it is suggested to place pending orders 5 pips below the low and 5 pips above the high of the mother candle.
If one is activated, one has to delete the other.
However, as you can see this means that everytime you would buy HIGH and sell LOW and this is a contra diction to what I learned to buy low and sell high.
So, I am a bit confused here. How would you handle a mother candle in your trading decisions? Am I missing something here?
I am starting this thread for in another thread we were talking about the use of a mother candle.
It was discussed over here in the Trade Made Simpel thread.
I looked up the info about what exactly a mother candle is and how to use it in decision making.
What I found was very interesting but I have one concern.
If you look at the image below it is suggested to place pending orders 5 pips below the low and 5 pips above the high of the mother candle.
If one is activated, one has to delete the other.
However, as you can see this means that everytime you would buy HIGH and sell LOW and this is a contra diction to what I learned to buy low and sell high.
So, I am a bit confused here. How would you handle a mother candle in your trading decisions? Am I missing something here?
First comes knowledge about yourself, then comes a system...