They make attractive wall charts that make you seem as if you have deep insight into obscure aspects of price history.
If you are very familiar with the market structure of the thing being charted, they can convey a lot of information quickly about price action over the last few trading sessions (or any few historical trading sessions, say around a big market move). At a glance you can tell direction and intraday versus interday volatility.
For rapid trading, the candlestick includes some information that is useful for making very short-term price predictions (say from open to one hour after open), but is far inferior to quantitative methods that use all intraday price and order data, along with other data.
For making money, not at all. They don’t contain enough information for rapid trading, and they don’t do anything to predict longer-term movements.
Choosing a broker is a tough task. There are some good brokers and some bad brokers in the forex market. It is very important to choose a good broker for trading in forex market. Good broker can be identified by some of their basic features such as, their leverage system, spread system, customer service etc. I use Tpglobalfx. They provide low spreads start from 0.01 pips. their highest leverage is 1:500 which sounds good in forex market. They also provide me 24 X 5 customer service, if i have faced any problem. They are really good broker in forex market.
Forex trading is the most famous and profitable business in the world. If you have strong knowledge about forex then you can earn a lot of money from the forex market. A reliable broker provides many strategies for profit earning you can any one of it that makes you more comfortable. Candlestick is one of them. It is strategies that contain some information that really helps a trader for short-time price prediction. I trade with Eurotrader. They also provide candlestick strategies. They are really very supportive and helpful.
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