hello
can anyone help please, i’m structuring a methodology on combination of different factors to trade, one is chart patterns.
i know that on a daily basis there are chart patterns we can take advantage of, i would be grateful is someone has experience in chart pattern trading can show or illustrate how one identifies these chart patterns.
its very important and i would be very grateful if someone can help me here.
thank u in advance
sam;)
Hello there,
I’m not a “very experienced” Trader but I can give to you an advice: read some books on Pattern Recognition, for example “Trade what you see” and try to discover some of the patterns in different pairs and timeframes.
I’m demoing my own trade system based on Fib retracements and pattern recognition, but I am still learning from my mistakes!
thanks heretic, ur a star, i just found the book, amazing…with us strategy concentrate on trendlines, channels suppot and resistance on a naked chart…this is useful info, any instrument
gud luk
sam;)
Hello SAM
One of the best patterns I use is this: morning star or evening star on daily charts. very reliable patterns
Chart patterns are good only if they can be instituted in the proper war
Pattern recognition is one of the hardest things to make a computer do, if you look at robotics the thing they struggle with most is for the computer to recognize objects, ok, with a Forex chart the sophistication required is much less but still it is something a human can do much better than any software. Computers just aren’t very good at fuzzy logic.
Our mind is also the best computer in the world, just use it 
I just read, “The Diary of a Professional Commodities Trader”, by Peter Brandt…and found it to be enlightening. I trade price action, but reading about a professional trader who trades almost exclusively on chart patterns (for over thirty years) made me realize that I should be including them in my toolbox. I am not going to throw out my existing tools by any means, but add to them. Also, I realized that I need to use weekly charts in finding patterns, as well as daily charts. Had I read this book a week ago, I would have saved myself from 3 losing trades…because when looking at them from the vantage point of the weekly chart and the fact that they were breakouts of a pattern, the candlesticks that I normally base my decisions on were not telling the whole story!