Japanese Candlesticks Charting w/ MACD for Day Trading

Posted on By Kelly Donner 40 Comments on Japanese Candlesticks Charting w/ MACD for Day Trading

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A simple and strongly effective method of reading Candlesticks for Day Trading using Micro E-Mini Futures. Learn how to find EASY trades versus RISKY trades by using candlesticks and the MACD. Eliminate the confusing jargon associate with reading candlesticks; eliminating this confusion allows them to be incredibly useful in reading market psychology and gaining insight into what the market is doing and how it's behaving during the day.

Day Trading for Beginners. Extra Income, whether you are just starting out, or a baby boomer about to retire or already retired. These 1/10th size Micro E-Mini futures are the most affordable way to learn to Day Trade for Income. Ideal because they are inexpensive to trade while you learn. Each point can be just 50 cents, $5, or $2 per point… much lower risk allows new traders to learn to trade and are ideal for developing your day trade skills.

The book, Day Trading Micro E-Mini Futures for Income, has tips on finding a broker, opening an account to day trade, trading psychology, reading charts, learning the types of orders, and much more. Everything that beginners to Futures trading need to know to learn how, and then scale up one you learn with the affordable low-cost 1/10th size micro futures.

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Comments (40) on “Japanese Candlesticks Charting w/ MACD for Day Trading”

    1. I was quite taken to realize that the Japanese Candlesticks were invented by a rice-trading futures Samurai about 300 years ago. It is ashamed IMHO, that people try to reduce the original philosophy to ‘three crows’, ‘abandoned babies’, ‘tweezers’, and all the other bastardizations of the original yin/yang observations of the great and timeless masters. All of these
      ‘shortcuts’ lose in the translation of the old masters observations. Thank you and good luck to you.

    1. Hi Jerry. Good news, NO the PDT rule does NOT apply to Day trading the micros, not at all. You can as often/ frequently as you like with the Micro e-Mini futures in small accounts. An account of $2,000 will work fine and some brokers allow trading the Micro with much less.
      For those who may not know the PDT is the “Pattern Day Trader” rule that states:
      ***The Pattern Day Trader (PDT) Rule requires any margin account identified as a “Pattern Day Trader” to maintain a minimum of $25,000 in account equity, in order to day trade. … Customers that are classified as a pattern day trader are required to maintain minimum of $25,000 in account equity in a margin account.*** (In most cases to be classified as a PDT it to day trade more than 3 trades in a 5 day period.) To be clear: this rule does NOT apply to Micro E-Mini traders. Thanks for the question. I welcome questions and comments as they allow me to fashion new videos to what viewers want and need to see.- Don

  3. I just found you and yes I have subscribed to your channel. I love how you explain things so easily and I can tell you are a teacher. I did go and buy 2 of your books. Looking forward to getting them to be honest. I just wish you had a training course on these. I would love to join if you do decide to have one in the near future. Thank you sir. Looking forward to the books!

    1. Actually, I am recording a new video training course now and I will notify you when it is available.

    3. @Day Trading Micro Futures I would also like to be notified when you have a course. I’ve bought your book and I love how you break things down very simply. You are a wonderful teacher.

    4. Hello, if you see this I’m very curious to know if you have continued with this system a year later and how do you like it? If not, what made you change?

  4. What do you think of the Heiken Ashi as an alternative to regular candle sticks?

    1. I prefer regular but to each his own. Give it a test and see which is better for you. Thanks for checking out the channel. New videos each week, please consider subscribing so you won’t miss any new ones. Good luck. – Don

  5. Hi Don. In case you don’t know I have to keep re-subscribing to your channel every time I view one of your videos. This goes to every other YouTuber I subscribe to as well. Seems like YouTube intentionally is unsubscribing subscribers automatically which is INFURIATING to say the least. This terrible policy may even effect the way YouTubers are paid as well. If you can, please put this message out to other youtubers so this is publicly known. This also diminish the WORK, EFFORT and RESEARCH YouTubers put into making their videos. What a HORRIFIC DIRTY TRICK/POLICY on GOOGLE behalf which owns YouTube. Getting back to the topic, I bought your book. I love your videos because everything is explained at the Kindergarten level. I
    must also say that you have a beautiful voice n could easily do radio commercials and voice over.

    1. Gus: I “Googled” your problem, as I’m sure you have also done. Could not find anything helpful to send to you, sorry. Many people are having a similar problem it seems. I really appreciate your support, sorry I’m unable to help with that. I did work in radio/TV many years ago and also did voice-overs for movie trailers and training films and a gillion commercials. Glad you got my book; that’s how I support the channel here mostly from book sales. Stay well my friend. – Don

    2. @Day Trading Micro Futures Mr. Don, I thought you must have had some experience in broadcasting from the quality of your videos. I recently bought your book and have enjoyed your videos. Thank you for all your hard work.

  6. Hi, Don! Thanks for your job.

    What about MACD settigs?
    May I use default settings or need to change some?
    I have Fast Length 12
    Slow Length 26
    Source – Close
    Signal Length 9

    1. Yes, those are exactly the settings I use. I just put up a new video two days that has additional information, please view this one: https://youtu.be/DJkmVgL5mCw and if you happen to use TastyWorks, there is a downloadable chart setup file as discussed in this video. Thanks. Stay well. and make some money will ya! thanks – don

  7. Hi Don, do you ever use RSI in conjunction with MACD? If yes, what RSI settings do you use?

    1. Nadine, I do not. The video I linked in the other comment you made, link: https://youtu.be/U43vST2iajI , explains why I recommend a simple and consistent setup might work best for many people. Of course, I am not one of those “my way is the only way” people, not at all. I do, however, express in that video why I think constantly switching setups retards learning to trade. stay well and thank you – Don

  10. I honestly cant get enough of your video sir. If you dont mind me asking, why the 5mins chart? thank you

    1. more reliable and less ‘noise’ (fake signals.) than other times. I hasten to add, this is for the purposes on this channel day trading micro e-minis. I do not suggest it for all type of trading and products.

  11. Ah, fading the open…for sure not a beginner trade. It’s perhaps best to wait 10-15 minutes after the open for the cash and futures market to sync due to stocks not all opening at the same exact time.

    1. Yes I agree. I rarely trade at the 9:30 am ET day session opening. Over the first half of calendar 2020, especially since MAR20- there have been very many days with extreme volatility. As you stated, it is very difficult for beginners with little experience to handle the quick and large change in prices during those first few minutes. There is money to be made there of course, but the risk (for now) can be very high.

  12. Don I watch a video of Your arsenal how to place a bullish trade with Tasty platform with example and all-inclusive numbers Buy, stop limit and target step by step I liked it, you could make a buy in a downward trend with the details of the previous one and also show in Tasty how to quickly close a position in seconds Rene

  14. Very helpful Don, really appreciate it, I have subscribed and your book is on it’s way, can’t wait to read it this weekend.

    1. Ash: Awesome, thank you!
      Here is some info on how you can practice trade free immediately:

      There is a free trade simulator with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: https://bit.ly/TradeSimulatorFREE It’s free, you can use it immediately. There’s no time limit, and no annoying ads. I would urge newbies to use it.

      If you want to explore the TastyWorks software I use here on the channel, you can do that FREE also. You must fill out a new account application at this link: https://bit.ly/2ZUYjtS It will take a day or two to get the account approved and you do NOT have to fund the account.

      If when you apply you chose the account type called “The Works” it will set you up to trade the Micros and many other things. You can download the TW software FREE and it is fully functional, EXCEPT you will NOT be able to trade until you first FUND your account. Many people sign up for the CME Trade Simulation and fill out the TastyWorks application; this way they can practice free and they get to download the TastyWorks software and explore it and start learning how to use it.

      When they get to start real money trading, all they have to do is FUND the TW and that’s it. If they decide not to FUND it, that’s it; no penalty or cost or obligation of any kind.

      Good luck to you – Don

  15. Thank you so much for this really. Going through your entire catalog and will began practice next week while looking over historical data this weekend to view potential entry exit points. I understand historical data does not guarantee future results but I think it will be a good idea to study the patterns to get a general ide of market moments. better understanding will come from forward testing.

    Also it looks like this system can be traded at any time weather NY, London, or Asia session right? Correct me if I’m wrong

    1. Awesome OG2T! Good luck to you. The Micros E-Minis trade almost 24 hours six days a week. For more about the hours and trading outside the regular day session hours, please see this video about the Globex trading hours: https://youtu.be/wkNDtj11Vo4?t=90 and here’s another video re: Globex: http://bit.ly/PFProfit

      Welcome to the channel. Look at the text under the videos for some playlist and other video links. Good luck to you – Don

    1. Oh yeah, I remember you. You, Rob, are the fellow with the very smart wife. She has to be. She picked YOU! Have ya’ll have a great weekend. Nice to hear from you. Thanks. – Don

  17. This video is worth more than we can imagine. Don gives invaluable insight and advice that you should watch over and over again until it’s ingrained in your memory.

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