RandyCandles - Information - page 6

[droesparky]

Can someone give an example of what the zorro and chilie peppers are?

I read the doc file again and dont understand what he means by them?

[Sundowner]

Hi droesparky

Please look at the alert candles in the chart posted by mart-hart (post 20).

My best guess without benefit of Goldenequity's input:

Red candle with black stem protruding both sides - hanging zorro. Red candle with green stem protruding both sides -chili pepper.

Cheers

[Vegas]

Would This Be Considered A Good Entry

And if so how many pips on average does one expect to get out of a randy candle move....eg is it a scapling method or a longer term method or both.

Thanks For The Help

[itguy]

Vegas:
And if so how many pips on average does one expect to get out of a randy candle move....eg is it a scapling method or a longer term method or both. Thanks For The Help

I think it is more of a scalping method. I have not tried it on longer time frames though.

As for your entry, it looks valid, however, if the yellow line on your chart is the 25sma there are 2 things I never do when trading this method.

1. Never open a buy when price is below the 25sma

2. Never open a sell when price is above the 25sma

I'm not saying that you can't make pips if you don't follow those 2 rules, but the higher percentage trades are made if you do follow them.

I don't know if that was part of the RC system but after watching them for over a month on my charts it's a good filter.

[Vegas]

Itguy

Thanks for the info Itguy.

I see your point about the yellow line...yes it is the 25ma....

itguy:
I think it is more of a scalping method. I have not tried it on longer time frames though.

As for your entry, it looks valid, however, if the yellow line on your chart is the 25sma there are 2 things I never do when trading this method.

1. Never open a buy when price is below the 25sma

2. Never open a sell when price is above the 25sma

I'm not saying that you can't make pips if you don't follow those 2 rules, but the higher percentage trades are made if you do follow them.

I don't know if that was part of the RC system but after watching them for over a month on my charts it's a good filter.

[droesparky]

Thank You sundowner I got it now.

[summitfx]

Money Maker

[Vegas]

Hi Summitfx

Hi Summitfx,

What is the red indicator that you have on your chart in the top right hand corner.

Thanks,

Vegas

summitfx:
Money Maker

[summitfx]

I wouldn't hesitate to enter a trade when it is below the 25ma. I would consider an exit at the line however.

[summitfx]

Here you go Vegas: