This article is written for new traders to get started, from
deciding how to enter, to the exit of a trade and most importantly, managing a
trade. Instead of focusing a lot on technical indicators, I would like to share
on the use of simple candlesticks charts (you may set candlesticks as a chart
setting. In my personal view, simple things work best.
Determine your Entry
1. Using candlesticks pattern
Bullish sign – To Buy or Long
Bearish sign – To Sell or Short
2. Price concept
Fundamental concept, a trend can
never start nor continue if prices doesn’t go higher high, or lower low.
Buy or long when prices goes
higher, sell or short when it goes lower.
3. Combining Candlesticks pattern and Price
Buy on 1 pip higher, sell 1 pip lower
(this is for intraday charts, if you are using a daily chart, you may want to use
wider pips). I will be using 1 chart as an example all the way from the entry of
a trade till the exit.
Position your Exit
Move Stop-loss to breakeven level once price
moves in your favor
Tightened Stop-loss price to the new price
whenever a new high / low is form
New reversal candlestick pat…