Review : Candlesticks Tactics day 1

I’m glad to see Collin and Rebekkah again. This time they have grow from a two person a year back double to 4 now, I noticed so has Rebekkah’s tummy as well. God bless her baby and her team. I think in this recession presents a good opportunity for start-up businesses. I must say they do give value for money , even stuff outside the candlestick syllabus are covered.

3 Ps of Trading

1. Price Management
   • E – Entry Price ( Trigger )
   • T – Target Price  ( Potential Profit )
   • E – Exit Price ( Stop loss)
   • T – Time Frame
2. Position Management
   • Risk Reward Ratio = Potential Profit/ (Stop loss – Trigger) > 3 : 1
   • Position sizing = Total amt willing to lose / ( Stop loss – Trigger )
3. Psychology Managment
   • Take Half Profit when hit Target Price or 10 % proft
   • Ride other half profit

Volume Vs Price action

1. Super Volume /\ + Price /\ = Reversal
2. Volume /\ + Price /\ = Bullish
3. Volume \/ + Price /\ = Bull Weakening
4. Volume /\ + Price \/ = Bearish
5. Volume \/ + Price \/ = Bear Weakening

Moving Averages

1. 200ma = Long Term Investors
2. 50ma = Banks / institutions
3. 20ma = Traders

Sequence of Stop loss tiggers

1. Initial Risk Stop
2. Break even stop
3. Trailing stop (from previous day low)
4. Time stop

Check Fibbonaci sequences.