Daily Candlestick Analysis and Signals in Our Forex Trading Program

Category: Good To Know | Thursday, September 17th, 2009

It is over two months that a forex trading program is started on forexoma.com and I have never stopped thinking about making the program better and more useful for the members. Most of our members are happy with the program which is because of their excessive kindness, but I know that there are still a lot of things that we have to do to make the program better. At least I am not completely happy and satisfied with the program yet. When I enjoy doing something, I do it very well and I am sure you are like that too. I enjoy our forex market analysis program a lot, but not as much as it was expected. However, I am sure I will reach to that level sooner or later and then you will enjoy the programmer more too.

The robot signals will be added to the program, but there is something that also has to be added which is the daily candlesticks analysis. Those friends who have been following me for a while, already know that I always emphasize on the importance of the daily candlesticks and of course weekly and monthly charts and candlesticks. Usually daily candlestick is able to show the direction of the market during the next day and sometimes the next several days. A weekly candlestick can also show you the direction of the market throughout the next week and sometimes several weeks after. Monthly chart and candlesticks have the same importance too.

We have been used to analyze the monthly, weekly and daily charts when a new candlestick opened, but from now on we will have a special program in analyzing the daily candlesticks when the new candlesticks open which is currently at 5pm EST. Everyday I choose and analyze a few of those currency pairs that their closed daily candlesticks have something to say and show the next day direction at least. I will also give the stop loss and target values and reasoning for those who like to take the positions.

We will do the same when the weekly and monthly candlesticks close and the new candlestick is about to open. Like the daily candlesticks analysis, the stop loss and target values of the weekly and monthly candlesticks signals will be given and so those who are interested in trading the weekly and monthly candlesticks, can take the positions. It is a big advantage for those who do not have enough time during the weak days to check the market and take the positions. So on the weekly reports, we will have daily and weekly candlestick analysis and signals and when the new monthly candlestick arrives, we will have the monthly candlestick analysis and signals too.

To have a background about the candlesticks and their signals, please read this article:
The Language of Japanese Candlesticks - The Only Real Time Indicators



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14 Comments:
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Comment by kamal el batrawi
2009-09-17 14:07:42

hello vahid,
i swear from the bottom of my heart that i never met such man like you , in short thank god who let me know you and every day i asked my self , how i find you website a year ago , i don`t know but it is my luck to know you , your primary goal has always been to support forex traders and your members , i enter your web with no strategy and now look at me after following your lesson( i may tech forex very soon) really you are doing a great job in your website.

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Comment by Vahid
2009-09-17 14:26:27

Hi Kamal,

Thank you for your attention. I am glad you are happy with the program.

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Comment by Jerome
2009-09-17 14:15:50

I think it’s great, the more you expose the member to the different time frame trading, it only increases our knowledge and ability to trade the forex market properly as yourself. In a simple phrase Thank you!

Reply to this comment
Comment by Vahid
2009-09-17 14:29:32

Jerome,
Thanks but you don’t have to say thank you to me. I have started a service here and it is my responsibility to work hard and make it better. As I said I should enjoy what I do and I enjoy this job only if I work harder and better everyday.

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Comment by Jerome
2009-09-18 20:01:21

Vahid

That more the reason why I thank you, it refreshing and so gratifying to be apart a service that truly deliver a quality product that is helping to make a different in many many people lives.. ;-)

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Comment by Vahid
2009-09-18 21:45:38

Thanks Jerome :)

We should all help each other. This makes the life and the world better.

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Comment by kamal el batrawi
2009-09-17 14:18:01

it is very important to add back the risk value as before ,please note that it is very important to use it in daily candlestick signals.

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Comment by Vahid
2009-09-17 14:30:36

I will mention how risky the positions will be. I will let you know if I see that a trade can be riskier than the others.

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Comment by Scooter
2009-09-18 07:52:30

Sounds great, Vahid. Look forward to the additional candlestick analysis! Thanks again for all your work.

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Comment by Minh
2009-09-18 22:51:58

Dear Vahid,

I get stuck in trading gold. i sold at 928, and still keep up to now 9( 2 months). what should I do? please give me advise. Thanks alot

Reply to this comment
Comment by Vahid
2009-09-19 12:11:49

Hi Minh,

We will have a detailed analysis for gold on our weekly report. It helps you to make a decision, whether you hold it or close it.

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Comment by Sumaryan
2009-10-22 01:37:05

Good post, analysis is everything on forex business

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Comment by igor
2009-11-29 08:15:01

I’m another forex newbie, but I can with confidence say that you have built very appealing program with also some really really good educational material on this site.

As a professor, could you recommend some books or special training necessary to become real (profitable) forex trader…I mean after all you also had to learn from something/someone? What is the best path to take (in addition to following your articles obviously)?
What about huge fund fx brokers, where they got their training?

Another question concerning forex bots, you just said you would incorporate bot’s signals with your market analysis program and that you won’t make that signal clearly distinguishable from other indicators. How safe is that? I measn you’re generally advocating against the bots because “they all lose money”, so it means you have some proprietary bot (or prediction tool or call it as you like) capable of giving “profitable” signals in the long run?

Thanks for your time!

Igor

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Comment by Vahid
2009-11-29 18:40:25

Hi Igor,

Thanks for your comment.

I suggest you to watch the FxClub videos. They are free: http://www.fxclub.com/intro-to-forex/

We have a strongly developed robot. On September, I added the robot signals to the other signals that we published but it caused some serious problems for us. We still consult it but we do not publish its signals.

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