Doji candlestick trading is perhaps one of the most simple ways to earn money with either stock or forex trading. Trading systems based on candlestick charts can be straightforward to effect and yet extremely effective. Doji candlestick systems use the chart without too many other indicators. Of course, you would then look across the prior candles to check the market is in the right position for a trade.
Ultimately, you would usually check against one other indicator before essentially opening a trade. However, much of this can be done awfully fast. This is a giant advantage in daytrading and it is a daytrading strategy known as doji reversal that we are going to be taking a look at here. This means that there is no candle body, just the two wicks to the highest and lowest prices, and a horizontal line at the open and close price.
So the doji is in the form of a cross. It is normally an indication of indecision or reversal in the market. It happens frequently in a very erratic market and is not so useful then. However, when it happens in an upward or downward trending market it can envision retracement or reversal, which the trader can profit from.