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Looks like this post is too long.....I had to post it in 2 or more sections so read along to the next section(s). --------------------------------------------------------------------------------- Ok, first off…I am going to be speaking fairly harshly about patterns. It’s not my...

Ok, traderNik, let's see if I can answer these questions. My response may actually give you more questions than answers but those questions may be answered in the example I'll post in a little while: ------------------------------------------------------------------------------My latest...

This is exactly what I don't do. If you look for a trend you are a follower (no disrespect here), not a leader. If you really want to fire up your trading account you have to be <b>ahead</b> of the curve, not <b>behind</b> it. I will post an example of this in a little while. You can pick a...

CD23, please do explain. Who doesn't understand what and why is the thread so sad?

My method is part mechanical and part discretion. There is a great deal of judgment involved and I pass up on some triggers while taking others, much like some people stated they take some patterns while passing up on others. I'm having company over tonight, otherwise I would post the...

Steve, I can assure you this is not a martingale strategy. I do use a position sizing strategy but under no circumstances is it a classic martingale. I won't go into great depth on this topic at this time but when I find the time to post an example I think you will better understand what...

Steve, you have very little credibility to be making a statement like this. I am not on a quest, asking someone to teach me how to trade. If you take the time to visit this thread you will clearly see, I have <i>figured it out.</i> http://www.elitetrader.com/vb/showthread.php?s=&threadid=112126

These are some very good questions but it will take some time for me to answer them. I'll get back to you either later today or tomorrow. I'll see if I can dig up and example for you as well.

So you guys say you are winning with patterns, and I have reason to doubt you because you are probably that 5% who ---------->>>> this should have said, "...and I have <b>no</b> reason to doubt you......."

Mark, you said you don't take a trigger on a pattern just because it's a pattern. Likewise, I don't fade a move out of a pattern simply because it moved out of a pattern. As you said, interpreting price action is most important. According to traditional technical analysis books, trading...

This is the trigger, a short on a break of support.

This could be a valid point. I've never done well trading them so you may be right, perhaps I just don't know how. I'll accept that. When it comes to the stock market, or any financial market, everything is subjective and open for debate. One guys poison is another guys treasure. This...

Agree, a bull pennant in an uptrend, logically, has a greater chance of an upside move but you still have to consider the fact that a bull pennant could trade into an ascending triangle and trigger your stop in the process, or make a sharp break below support, for whatever reason, and head...

It's a great market to trade if you're properly funded. Wide stops can easily get triggered with the large swings so a string of bad trades would tear you apart. One of the best ways of managing risk is trading small with a large account. If your overall assessment is correct but your timing...

Gotta agree with you for the most part Nik. I started with $5000. However, there are definite advantages to having a larger account. When I started the market was behaving nicely so making money wasn't all that difficult. It would be brutal to trade <i>this</i> market with 5k. In this...

Exactly, given enough time, a head and shoulders top can trade into a symmetrical triangle, or a bull pennant can trade into an ascending triangle and come back into the pattern and tag your stop before the pattern is resolved, which, by the way, could be in the other direction. Do you reverse...

That's basically what I'm looking for, exhaustion moves. From a statistical standpoint, they are very hard to isolate so you can't just take something like "sadistics", lol, and apply it to the financial markets like an exact science. It's takes a lot of trial and error before you find your...

Hypo, Here's what worked for me. I don't know if you have ever studied statistics but stock market data looks like an F-distribution, or skewed left or right. Within that F-distribution there are normal distributions. The normal distributions can be traded, the trick is knowing how to find...

I tried that too - i.e. large volume break up confirms the move. Funny, that didn't seem to work either. The lights came on for me when I began studying the statistics of the financial markets. Funny tho, all I ever learned in grad school was that statistical analysis of the stock market...

Right on IronFist. My win rate on patterns was about.....you guessed it....25%. So, I started fading them and my win jumped. This was one of the ways I evolved as a trader. Everyone has to find what works and what doesn't, make adjustments, and find their groove.