Reminiscences Of A Trader

Monday, January 28, 2008

Painting The Charts

Charts do lie sometimes. The pros will always find some way to manipulate the markets. With more traders using candlestick patterns and technical analysis, some market makers take the opportunity of the newbies by painting the charts. Newbie candlestick readers and chart readers can get suckered by these tricks. That's why it is important to learn the mechanics of the indicators and methods. Just trying to find patterns and formations with a cookie-cutter mentaility is a sure-fire way to get conned out there. If you know why and how a reversal truly forms, you will not fall for these lame tricks.