Forex Trading is a business of Buying and Selling of Currencies and Commodities.
When we use the cheat sheet (download for free above), we identify current patterns that match the ones on the sheet as they predict whether the next price movement will be up or down. If you get this right, you can make money. The more you put in a trade, the more risk there is as you can make more but loose even more. This is where risk management is important. This is why it is best to use multiple confidence indicators and analysis in place before you create your trade.
The best way to learn to read candlestick patterns is to practise entering and exiting trades from the signals they give. When using any candlestick or chart pattern, it is important to remember that although they are great for quickly predicting trends, they should be used alongside other forms of technical analysis to confirm the overall trend. You can learn more about candlesticks and technical analysis with the video below too.
Our Trading Strategy (that makes us $10,000 a week)...
Join a trading platform such as MetaTrader or IG - if your unsure just look it up on YouTube.
Join up with TradingView - this allows you to view all the trading graphs and analyse these patterns from the cheat sheet.
Now you can start trading! Get a simple idea of the patterns being used by scrolling back in time and seeing how they are used. What we did (and still do) is follow a professional daily signal indicator (1000PipBuilder) which gives 1-on-1 trading analysis (they literally draw on the graphs and analyse everything for you) in which you can then see what they have done and analyse it yourself. This will give you 100% more confidence to enter a trade and make a lot of money.
On the weekends (when you can't trade) we usually rewind the charts and practice using our cheat sheet with older movements - we find they work pretty much all the time. Just make sure to identify the main trend and see other people's ideas on TradingView too, and match what you have predicted with what they have predicted.