Forex Candles - become rich trading forex at home

Forex Candles ~ become rich trading forex at home

Lately i sterted to wounder, candles where made for stock market which is open only 8 hours a day, so every daily candle on stock market has its own meaning it is seperated timeframe, on the other hand Forex is never close (except weekends) so what is the value of Forex daily candle?

My doubts became even bigger when i found out that Steve Nison (world class candlesticks expert) has a seminar on diffrences between Forex and Stock Market candles, so there must be something on it.

Anyway I am not Steve Nison but here is my take on it.

1. Diffrent people can have diffrent candles on their monitors, for example when i see doji, someone on the other side of the globe can see "hammer" or any other candle, why? Anserw is simple no one can tell you when one day on forex market has passed, it can be diffrent hour in Europe, diffrent in America and diffrent in Asia, more over traders in one country can have diffrent candle patterns on their charts, it is very subjective, everything comes down to defined hour of the day when new candle is open.
On the other hand there isnt such problem on the Stock Market everyone has got the same daily candle.

2. I said it before but i will reapeat it here, Forex market do not close, actually it do not have such a thing a session (unless you threat time from monday to friday as a session). On Stock Market yesterday candle has got nothing common with todays candle, hard to belive it but this is the way it is and that is why there are so many gaps on stocks charts, dont get me wrong i am not saying that trend do not exists im just saying that daily candles on Stock Market are "self dependent", unlike Forex candles they are almost always close to each other, one cadle close price is next candle open price, it is very common you have to agree.

3. As for gaps, you will hardly see them on Forex, but sometimes they occur, espacially after weekend it looks like "something" had to happen to move open price far away from last close price, on Stock Market it happens daily on Forex weekly, in fact it can be even monthly.

These are my thoughts, but i have got one question for you. What is the point in using candles on 5M charts? They cant even make a simple formation, even if they do it is pointless to use it You proboably saw 5 or more doji in a row on charts less then 5M is there any interpretation for this, each of them means trend reversal? I do not think so.
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