PATTERNS -- So These REALLY Work???

CMVT I talked about some weeks ago that was at 1.00XA (bfly) went up to 1.193XA and had a reversal there (just below 1.27XA).

 

Not sure about this pattern but will do more research.

 

Late to the thread and I haven't had time to read it all but here is my 2 cents.

I have traded patterns for many years and they are very profitable if you use them in the proper context.

Like everything else in trading people unfortunately want to take a complex problem and make it simple.

Sorry but it just doesn't work like that.

In order to solve a complex problem you need a complex knowledge and then you have a chance at solving it correctly.

Chart patterns, traded all on there own will only result in a traders ultimate dismiss.

Therefor my suggestion to those wanting to trade them profitably is to get as much knowledge on the markets as a whole as possible and then incorporate patterns into the mix.

Good Trading to you !

 

Samson,

Could you please elaborate on your last post with some examples of what you mean about incorporating chart patterns with more complex knowledge?

Thanks.

-- M

 

I am just starting to look at these and am very interested in people's feedback

 

To just take a Bull Flag because it's a Bull Flag is not enough.

A good pattern trader will know where Highs and Lows are across all timeframes, Fib numbers, what volume levels are going through, indicator feedback.

etc, etc ...

We are trying to build a case for your trade with as many factors as possible to support the trade and know when we are right and where we are wrong.

To simply trade every Bull Flag you see would be silly and unprofessional, money management alone will not save you from ruin.

You need to know why some bull flags worked and why others did not and not just trade in a vacuum.

In order to do this you need an excellent understanding of the market and all of the tools used to measure it correctly.

 

Samson,

Thanks for the example.

-- M

 

I'm new here but really wondering about the validity of this forum. Yo, Samsom, late? This thread started over 2 years ago. Al c is probably dead by now. LOL

 

Don't blame Samson, he didn't resurrect this dead thread.

 

Right on. The people who say KISS are full of it. It's not KISS at all. Unfortunately it took me more than a year to understand this. Some people say: "just trade flags - very simple. BULLSHIT!"