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Thread: Hello!

  1. #1
    Rookie Member RRBrigi's Avatar

    Hello! !!!

    Hello! I am newbie. I have never trade before. I graduate in the BOTS' college (and I will continue learning), but still clueless. I opened a demo account here, and I downloaded Meta trader 4 to my Ipad. Then I looked a candlestick chart on MT4, but I cannot even decide if the last candlestick is already finished or not. So I though instead of trading tonight I will introduce myself on this forum then I will learn more about Meta trader 4.

    P.S. English is not my first language so please accept my apology if my writing is not always correct or make sense.

    Thanks for reading my post.

  2. #2
    Veteran Member Ronnel's Avatar
    Welcome to CommuniTraders!
    Even when we finish Bot's College we still have to continue studying. This may sound difficult and boring but if you like trading then studying will just be like routine.
    Happy trading!
    Duct Tape can't fix OTM

  3. #3
    Legendry Member milos's Avatar
    Welcome to CommuniTraders!

    You can trade and share CT demo account. Of course continue to read bots forum about trading tools and indicators.

  4. #4
    Administrator Martin Kay's Avatar
    Quote Originally Posted by RRBrigi View Post
    Hello! I am newbie. I have never trade before. I graduate in the BOTS' college (and I will continue learning), but still clueless. I opened a demo account here, and I downloaded Meta trader 4 to my Ipad. Then I looked a candlestick chart on MT4, but I cannot even decide if the last candlestick is already finished or not. So I though instead of trading tonight I will introduce myself on this forum then I will learn more about Meta trader 4.

    P.S. English is not my first language so please accept my apology if my writing is not always correct or make sense.

    Thanks for reading my post.
    we're actually working on a comprehensive candlesticks education series, coming in school soon (: Feel free to ask anything, anytime!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  5. #5
    Legendry Member Okane's Avatar
    Quote Originally Posted by RRBrigi View Post
    Hello! I am newbie. I have never trade before. I graduate in the BOTS' college (and I will continue learning), but still clueless. I opened a demo account here, and I downloaded Meta trader 4 to my Ipad. Then I looked a candlestick chart on MT4, but I cannot even decide if the last candlestick is already finished or not. So I though instead of trading tonight I will introduce myself on this forum then I will learn more about Meta trader 4.

    P.S. English is not my first language so please accept my apology if my writing is not always correct or make sense.

    Thanks for reading my post.
    Hey, good to have you here!
    You did the right thing, you admitted to yourself that you don't know enough.
    Well, actually you did two right things, you also started with school. Good start!

    Ok, here is a video I have for you on candlesticks where I walk you through it:
    Japanese Candlesticks for beginners

    There is a part two as well.
    Live Webinar: Hidden Content
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  6. #6
    Moderator Kolyo's Avatar
    Welcome to CommuniTraders, RRBrigi! It is great you decided to introduce yourself here Don't worry for your Engilsh, most of us are not native speakers so we won't even understand if you make a mistake
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. Thanks Okane thanked this post
  8. #7
    Rookie Member RRBrigi's Avatar
    Hi,

    I have a easy question about candlesticks. So if I look at a 5 minutes chart (M5)each candlestick represent 5 minutes. Each candlestick has an opening price and a closing price. So I thought that one candlestick's closing price should be the following candlestick's opening price, but it is not true. There is a difference between one candlestick's closing price and the following candlestick's opening price. Why? And how do I know when the last candlestick finished on my chart so the next candlestick is ready to develop? Just looking the clock?

    Thanks for your helps.

    Thanks for the link Okane, I have looked at the Japanese candlestick both part 1 and 2.

  9. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by RRBrigi View Post
    Hi,

    I have a easy question about candlesticks. So if I look at a 5 minutes chart (M5)each candlestick represent 5 minutes. Each candlestick has an opening price and a closing price. So I thought that one candlestick's closing price should be the following candlestick's opening price, but it is not true. There is a difference between one candlestick's closing price and the following candlestick's opening price. Why? And how do I know when the last candlestick finished on my chart so the next candlestick is ready to develop? Just looking the clock?

    Thanks for your helps.

    Thanks for the link Okane, I have looked at the Japanese candlestick both part 1 and 2.
    I hope the videos helped! Good question, allow me to explain.

    Because the price is decided by all the millions of traders. The buyers and sellers.
    Traders are for example: the banks, the companies, the tourists and whatnot that exchange an asset or buy or sell one.
    If you and I exchange EUR and USD, illustrated by the example below:

    I buy 10 Euros from you, in return you get 5 USD.
    Hence, we have created a ratio, which is in this case EUR/USD= 10/5= 2.
    So now the price is 2. Let's say that was a candlestick (5 minute for example)
    that closed at 2 (because 10/5= 2 right, that's the ratio remember).

    But then, the next minute, or day or whatever candlestick duration you like later,
    you sell 20 Euros and in return you only get 4 USD. So now, the next candle will open at what price?
    Yes, 20/4 = 5. So now price opens at 5. This means price has increased. Of course I am exaggerating a whole lot.
    The EUR/USD ratio is usually around 10/9 or 9/8. Hence all the decimals you see on the charts
    which we call pips and pipettes. Sometimes new candles will open at exactly where previous candle closed.
    Sometimes they open waaaay below or above previous candles, we call that a GAP. The reason, well same reason
    I just explained. People decide the price based on supply and demand. 1 person selling a short stock of apples
    will make the price go up if there are many buyers, not enough for everyone right? Then another hundred farmers join and also sell apples, exceeding
    the number of apple buyers. So now the supply is way too high in relation to buyers = price is lowered (must sell those apples before they rot!).
    I know, it's a childish way of explaining it but it's simple to understand - think supply and demand.
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  10. Thanks Lelyz9 thanked this post
  11. #9
    Senior Member Lelyz9's Avatar
    Hi RRBrigi, welcome!

    Noticing you're a detail person in observing things/visual, here's the additional picture to complete Okane's wonderful explanation previously. Hopefully it could help too.

    This is the 1 Second chart (EurUsd taken just some time ago), representing the price movement for the transactions that happened in the market within 1 Second period of time for each candles. The tiny horizontal line happened when the price was the same for the opening and closing.

    You'd notice, actually there's no correlation between the previous close to the new opening price because it happened in different time, even though the difference itself might be just in a few milliseconds.

    Click image for larger version. 

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    Note: I am also a newbie, but it's something I got from my observation about different type of charts and time frames just some times ago. If it's wrong, then welcome for the seniors to correct this
    Last edited by Lelyz9; 05-27-2016 at 04:44 AM.

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