Candlestick Charts For Daytrading by Jayanthi Gopalakrishnan Does this sound familiar? The price of a stock is moving up. Feeling the adrenaline course through your body, you click the buy button. You watch in horror as the market tumbles, taking the stock with it. After all is said and done, you end up with a huge loss. Frustrated, you wonder what went wrong. The idea of daytrading tempts us all, considering how easy access is to high-speed Internet connections and direct-access brokers. However, there are substantial risks involved, and to protect yourself, you need to understand what is going on in the market. After trying various methods, I have discovered a simple one that works with a fairly high degree of profitability. It is based on candlestick chart formations and volume. Understanding the relationship between price and volume allowed me to understand the degree to which buyers and sellers control the market at any given time. |
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