The Candlestick Trading Bible was invented by the Japanese rice trader Munehisa Homma. He is considered to be the most successful trader in history.He was known as the god of markets in his day. His discovery made him more than $10 billion in today’s dollars trading the Japanese rice market.
Since I discovered this price action system, my life has been completely changed from that of a loser, to that of a successful father and trader.If you can take a little bit of your time to read what I am sharing with you today and if you apply it, I guarantee that you will make money trading in any financial market.
I have spent 10 years–compiling, testing, organizing, and consistently updating this method to create my own new version, which is considered to be the easiest and most profitable trading system.You don’t need to spend an extra 10 years like I did to find a winning system, because I have shared everything I have discovered in my work.You don’t even need a Master’s degree in finance or to be some math whiz like Albert Einstein to be a profitable trader.Most successful traders are dropouts, and all you need is some common sense and the ability to act on what you know is true.
My journey was very hard, with a lot of pain and frustration, when I first started out. I was very motivated. I wanted to achieve financial freedom, spend more time with my family and relatives, buy the car of my dreams, and travel the world.
I thought that trading was hard. I thought that to be a successful trader, I had to find the secret, or discover some mathematical formula that moves the markets.I used complicated indicators. I got excited about each new method I discovered, but as system after system failed, and all I came to expect was losses, my initial motivation to make money soon turned to real frustration and anger.
I spent four years like a hamster on a wheel, switching from one strategy to the other, from this trading robot to that other one without any results.And instead of achieving my financial freedom, I found myself without a social life, spending my spare time staring at my screens instead of spending time with my family.
I have wiped out seven trading accounts and lost thousands of dollars. I was on the path to giving up trading before I realized that everything that I was working so hard for, was right there in front of me the whole time.
Luckily, this will not be the case with you, because what I am going to share with you today will save you thousands of dollars and years of frustration.By which time, you too would come to the same realization I had–that all you need is a simple trading method to make money trading any financial market.
The Candlestick Trading Bible is based on the T.L.S. method, which is one of the most important principles in the Candlestick Trading Bible approach.The T.L.S. method stands for Trend, Level, and Signal. In other words, when you open your charts, you will look for three important elements:
The trend: you will identify the market trend, and decide whether it is an uptrend, a downtrend, or ranging.
The level: you will find the key levels in the market, which can be support and resistance, trendlines, supply and demand zones …
The signal: you will identify a price action signal such as a pin bar, inside bar, or an engulfing bar…
When you have all three of these simple elements in alignment, then you have the perfect trading opportunity.
Look at the chart example below to see how you can find high probability setups using the T.L.S. trading method.
As you can see, you don’t need a magic indicator to make a profitable trading decision. What you need is to find three important elements:
In the chart above, the trend is up. This means that you will look to buy in the market. the level is the support area, and the signal is an inside bar setup. One or two trades a week like this is quite enough to make a good monthly income.
As you can see the formation of the inside bar setup is a powerful signal to enter the market. The inside bar formation means that the market is consolidating. The breakout of the pattern means that the market decided to continue in the same direction. What you must do to make money is to follow the market direction.
Your entry is going to be the breakout point, and your stop loss is going to be placed under the tail of the mother candle, which is the larger candle before the inside bar, and the profit target is the next level. Easy, right?
The second concept that characterizes the Candlestick Trading Bible is trading with confluence, which means that you will learn how to find confluent factors that support your trading decisions. This will help you take only high-probability setups in the market and ignore low-quality ones.
The chart above shows how trading with confluence can lead us to identify setups with more than a 98% success rate. As you can see in the chart above, there are five factors of confluence that support our decision.
If you think in terms of confluence as I teach in my Candlestick Trading Bible, you will develop a winning trading mindset, and your brain will get used to identifying only high-probability setups that lead to big profits.
As you can see the market goes down 122 pips, because all the factors say that the market will go down. Imagine that you were in… Read more…