Do you have a pin up over your bed that looks like this? If so, than welcome to my world.... In all seriousness, in my earlier years this would be true - I long since consider risk/trade mgmt to be the most important component of my trading.
I did something similar to this decades ago. It took be quite a while to realize how useless worthless it was. Well. For those who find triangular TA is useful, by all means go use it.
My first trading system was based on this, mainly on Gartley models, it took me three years to fix these models, then I forgot about Gartley, and now not interested
his main mistake is that he studied one time interval and he has no relationship with other time intervals for example, it makes no sense to evaluate the performance of the head-shoulders model on a weekly interval without considering the annual interval with this in mind, it is easier to understand whether it will work fully or not
Once I had to argue with one professor of economics, he started talking about random price wandering, I asked him to show this random wandering on any chart, he showed that I just moved the chart to a different time interval, and the random walk disappeared, at first he didn’t understand and then thought for a long time, and when I detailed this random walk through the fragments, he was speechless
A strange forum, browsing through almost everything, solid book templates, almost no personal thoughts, really zombies
there are many professional day traders over here but no professional triangular TA expert except you. It's been a week. So we can confirm this statement with 100% accuracy. No point trying to squeeze water out of the rock; no professional triangular TA over here means NO. Best is you engage your former triangular TA students and start a new forum. then all of you can have meaningful and fruitful discussion. The regularity of the price model in combination of time - volatility ALL THE BEST !!!
Those of us with a quantitative background realize that this is just another snake oil salesman. A person with a system would provide backtest results with metrics people can understand, and not some fanciful language about the intricacies of this miracle system. OP claims to have tested it on 300 forecasts - we don't know the method and we can be sure the sample size is way to small. Even using weekly data that's what, 6 years? You'd need to test as far back as 2006 to capture the collapse. Incredible claims require incredible evidence. People throwing rocks wouldn't throw rocks if the OP didn't come in righteously indignant calling us all fools for not believing in his system. Reminds me a lot of the people who tell I'm going to burn in hell when I go downtown... weird how the dunning kruger effect manifests.
@Resto Everything you postulate here is all fine and well...But what does it say your markets are going to do on Monday? Do you have any entries planned based on your analysis of the past? There are some here who seem to think that ever since stocks have started trading, we have been in a bear market and will always be in a bear market. They predict that the markets will drop to negative. They do not CARE that this is an impossibility, they simply declare it. What is your declaration for the next 72 hours, from this timestamp? Where is the market going based on your studies, will you put skin into the game, and what will your entries and exits be?
good point. for newbies/demo traders / professors / academicians / educators, they spent tons of time on complex mathematical TA & very little on mind & risk management for professional traders, trading is 90% mind and risk management, 10% technical