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To: chowder who wrote (87724)	2/19/2001 11:16:23 AM
From: que seria	Respond to of 95453

dabum: I use candlesticks because they give me information I like about a day's trading at one glance: open, close, high, low--and in easy visual comparison to other days' trading. Since I'm using charts to try to spot trends and possible changes in trend, I prefer the charting that makes it easiest to see that price information. I don't use or know much about dojis, stars, hammers, and other candlestick terminology. Many credit such patterns, knowing more than I about TA, which wouldn't take much. I'll just say you don't need to follow the techno-terms or believe in the named patterns to find candlesticks useful.

To: chowder who wrote (87724)	2/19/2001 11:32:35 AM
From: Timelord	Respond to of 95453

O/T Candlesticks Candlesticks are essentially bar charts with an attitude. Because the "body" or trading range, between the open and close is filled based on whether the close was up or down, you get either a black or white "candle", with "wicks" on either end indicating the extent of the highs and lows. Based on charts developed several thousand years ago in Japan, many patterns or groups of patterns have been named, and they have excellent value in identifying trends or trend changes. One thing to remember - there isn't anything in this world that can predict the future. If there was, the "experts" would all trade for a week with their wonderful TA system and disappear to some island off the coast of Spain <g>. So just like card counting, which gives you a statistical edge, the ability to identify and interpret these candlesticks give you an edge, but they are not infallible. Morris, in his book ,Candlestick Charting Explained, actually tries to do an impartial statistical analysis of which type of candlesticks are the most effective (at least I think it was him, I can't seem to find my copy). I like them because I'm a visually oriented person, and I haven't the time or energy to confuse my addled brain with lots of different indicators to aid my trading. I don't look for specific patterns during the day, although my chart feed is set to a 3 minute timeframe using candlesticks, but that provides a "feel" for the market, rather than a signal such as "there's a gravestone doji, let's short the hell out of it". I'm not even sure if the pattern types are effective on an intraday basis. These are the three books that introduced me to candlesticks. I don't know what the relative cost of the seminar is, but you may consider reading through one of these to see if the heavens part and you hear hosannas sung on high <g>. Since Morris's is out in paperback and the least expensive of the three, that might be your best bet. search.borders.com Also, an internet search will give you a host of info on the subject: search.excite.com Good luck Alex

To: chowder who wrote (87724)	2/19/2001 11:39:55 AM
From: Gottfried	Read Replies (1) \| Respond to of 95453

dabum, [edited] TA *** candlesticks I think they're especially good for ST plays. But I use them in all my charts, even though I'm not fluent in pattern identification. You can get explanation here thepitmaster.com If the seminar doesn't cost much it's worth it. Otherwise you can buy 'Candlestick charting explained' by Gregory L. Morris. Warning: I'm one of those who knows a little about lots of TA methods [except I'm totally ignorant about Elliot waves by choice] [edit: you said >I'm looking for the most effective charting techniques for identifying market trends< Different people use different methods for this. LT trends can be most easily identified by using moving averages of different durations. The difference you see between different time frames can be dramatic. It depends on what LT means for YOU. Candlesticks alone are not best for identifying market trends] Gottfried