Our candlestick analyst
and only one evil: ignorance."
Despite being an almost indispensable tool for a trader “candlesticks” is often misinterpreted, giving life to some embarrassing and sometimes comical discussions. With one course and a couple of books, each aspiring trader can even become a “candlelist” ready to share all his knowledge with other wannabe traders that wants to predict the future.
- CANDLELIST: An unprepared technical analyst that is studying the candlestick analysis.
The typical candlelist wants to understand and formalize all the single market movements using, in an unlikely and careless method, complex candlestick pattern that usually he visualizes in his desk only because they fill the monitor.
In the most dangerous variants he invents new pattern (as if they are needed) specifying that he was the first to discover that incredibly profitable prices pattern.
The typical candlelist doesn't know the waiting, plan-making and moreover contextualization. For the candlelist, using the candlestick in order to qualitatively measure the movements is synonymous of lack of knowledge. He believes that candlestick must anticipate all the future movements.
How to recognize a candlelist:
- Almost total lack of humour and irony;
- Research of a cause for each market movement;
- For every wrong analysis the cause is the wrong candlestick reading;
- He invents new complex patterns;
- He believes that candlesticks has their own soul;
- He really believes (but he keeps it for himself not to sound crazy), that shadows predict the future;
- To squeeze out money from the novice traders he invents that he studied techniques to simplify trading in the U.S.. Moreover those techniques are a mix of the same backward-looking concepts that complicates the neutral movement vision;
- In the most dangerous variant he owns a samurai’s sword(fake and not sharp).
Evolution of the candlelist:
When a “candlelist” realizes the real use of the candlestick chart (that gives high odds but can't predict the future) he starts to oppose it, going as far as expressing extreme sentences that he never ever thought he would have pronounced:
- Candlestick analysis is century-old, modern analysis is much better;
- The candlestick analysis doesn't work, a hammer is profitable only the 35 % of the times.
The second declaration is absurd and deserves a close examination:
If the candlelist doesn't understand the techniques limits, and candlestick limits, he evolves in a greater category of incompetence. In his analysis incomprehensible graphic tools appears and the candlestick remains a nice background.
- This voice is in the relax section of the encyclopedia and it is intentionally ironic, the author Stefano Fanton uses the candlestick analysis. Irony is the shadow of the intelligence and if you want to understand the reason for the existence of this specification note, read this voice: Trader’s life – a technically perfect operation, especially the notes...