Chart pattern percentages

Originally posted by toby400
I think if you read the article you will find he went bust.
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<a href="http://www.tradingsuccess.com/articles/you_want_to_be_a_trader.htm">

it says,</a>
In 1998 Vic was said to have gone bankrupt as a result of one trade.
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I wouldn't bet on it unless it were corroborated. He's super conservative...talked big about limiting risk to a fraction of total capital...if he went bust on one trade, then he has a Dr. Jekyl/Mr. Hide thing.
 
that is a good question...but click the link and search for 'vic.' You'll see it's Sperandeo. Perhaps the author didn't do his homework.
 
It is Neiderhoffer, I remember the day clearly, I was short 2 spooz contracts and was driving from chicago to toronto when it happened, He clleared through refco who i dealt with and was telling me about him
 
Originally posted by rfoulk
I'm looking for sources of information on the success/failure rate of various chart patterns.

I heard that a Dr. Earl Davis of Purdue University authored some sort of study on the subject, but haven't been able to find much on it.
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Getting back to the original idea of the thread.....the problem with starting out with such a premise is that what one person defines as a head and shoulder pattern is not what another would define as such.
 
There used to be a software package called 'Patterns.' I don't remember who published it. I do recall that it provided the stats for patterns of one data series at a time. You could do your own work with it.

<a href="http://www.marketsonline.com/software/patterns.htm">Here's</a> a link.
 
Thanks for the link, Chas. And amen to you Babak. I remember looking at an S&P500 chart and thinking "Hmmm, that looks like a small double top," and then IBD the next day was calling it part of a larger cup-with-a-handle. And I realized that chart patterns are like finding animals and other objects in the clouds - only you pay a round trip and percentage of your position to find out what it really is.
 
I'm not really into lots of patterns, like cup and handle,penants,
head and shoulders, etc...

But, I do like this pattern, a double- bottom, or double-top
with a divergence using something like stochastics.

Be warned though, there much easier to see in hindsight...
:)

This is a segment from todays ES emini chart using 100 tick bars.
 

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