The Honest Guide to Candlestick Patterns Quotes

“Be conscious that profit isn’t everything. It is a better approach to compare profit with the risk taken to achieve that profit.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Each evening we would scan our charts for the pattern we wanted to trade in the current market environment and we would know what trades we needed to place the”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Each evening we would scan our charts for the pattern we wanted to trade in the current market environment and we would know what trades we needed to place the following morning.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“(as gauged by the SPY) had multiple”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“I tested all bullish harami candles on a sample period that was a raging bull market, the returns would probably be fantastic, simply because buying the market at any time wold have likely produced a winning trade.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“In reality, you would not be able to trade every pattern in live markets because there would be too many of them.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Strong up-trend when 40 day MA > 120 day MA and RSI is over 70. Long-term up-trend/short-term pullback when 40 day MA > 120 day MA and RSI is below 30. Trend strength definition for down-trends Strong down-trend when 40 day MA < 120 day MA and RSI is below 30. Long-term down-trend/short-term rally when 40 day MA < 120 day MA and RSI is above 70. Stochastics Oscillator The stochastics oscillator is another indicator which is commonly used to define whether a market is either overbought or oversold. The common definition being that if the Stochastic is below 20 a market is oversold and if the stochastic is above 80 a market is overbought.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“if the pattern occurred at a 50 day moving average?”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Haven’t you ever wondered what your profits would be if you traded every bearish or bullish engulfing pattern? Have”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Market action is more important than news”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“of the 11th day. Once a position is closed, 3 days must pass before we are allowed to trade a signal in the same stock.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“Price must be above $5.00 20 day Volume average must be above 100,000. On the first day of the bullish engulfing pattern, the SPY must have a 40 day MA above a 120 day MA. The ROC(252) of the stock must be above 0 on the first day of the pattern. The low of the first day of the pattern must be the lowest low in the past 20 days. If all rules are met, buy on the next day open. Apply a profit target that is 6% higher than the entry price. If the profit target is not hit….”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.