When a doji candlestick is spotted in the market, first look back to see if there has been enough movement for you to benefit from a retracement. A retracing may only be about one third of the distance since the last low. Either the RSI (relative strength index) or MACD (moving average convergence/divergence) may be employed for this reason. An oversold or overbought market and the doji is a good indication that you can become involved.
You may also glance at the trading volume. If trading is trailing off, then this is another sign a reversal might be about to happen.
When you open a trade, be prepared at first for a retracement. Either set a limit order at the point that you would expect a short term retracement to reach, or watch and do this by hand. At this point, you might want to shut just half of the trade.
Of course, there is always a risk, as with any kind of hopeful trading. You have to know what you are doing and this type of trading requires a large amount of practice, even though it’s a easy system.