Technical pattern to recommend?

Quote from cocky_pusher:

I would rather recommend you to analyze profoundly all the alternatives technical indicators have to offer when submitted to a rigorous simulated evolutionary environment.

Check out the page www.tau-zweig.com to find a free open source downloadable technical analysis genetic algorithm to experiment how a simulated evolution system can create perfect back-tested strategies to beat the market.

It either solves your question or makes you wonder if looking around for a technical analysis strategy is really what you should be looking for.
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Another pipedream - been there and done that. If I remember correctly there used to be a commercial program doing just this.

Am very, very familiar with the subject of genetic programming (and with rough sets, neural networks and some other bits and pieces of artifical intelligence). Don't waste your time on this.

(It's curveftting in the extreme)
holmes
 
Hi btu12345

I would recomend a couple of excellent books.

For patterns.
Connors, Larry & Raschke, Linda Bradford - Street Smarts.pdf

Day Trading With Short Term Price Patterns and Opening Range Breakout by Toby Crabel.pdf


For statistical concepts.
Fooled by Randomness - Taleb , Nassim.pdf

For Strategy
Elder, Dr Alexander - Triple Screen Trading System.doc
New Trading Dimensions - How To Profit From Chaos In Stocks, Bonds, And Commodities - Bill Williams.pdf

For Trading Phsycology
Mark Douglas - Trading in the Zone.pdf

If you day trade I would also add some market well known trading systems. Please PM for these.
 
I am trading one pattern only and trying to figure out its nuances.

I dont beleive there is a holy grail anymore, and I think this shift in philosophy is helping me. So, I dont think this pattern in itself is worth anything, unless you take the time to study it mix it with other indications, filters, etc.

here is a picture of the pattern.
 

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more recently S daily, i'm still in this one, made the mistake of buying options too far otm and they are just now starting to trade the spread. Thats what happens when you buy stuff for .05
 

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just so it doesnt look like I am trying to post winners only, take a look at this, i'm glad i didnt get into this, had too many positions.

lm daily


I filter the pattern in different ways, volume is not currently one of them although I am studying that.

More important to me are fib levels, since I figure that is what people are watching.

I am looking for other things to include as well, like volume, and perhaps market breadth (sp?)
 

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I tried all of the above until I finally came to terms with my own laziness. Take a day off and browse 500 stock charts and 200 hundred sector/index charts. Think of what indicators might work for what you have observed. Then write the indicators and repeat the observations. Do this at least once a week, if not everyday until something works. If something doesn't work in 2 years then quit trading. It's really that simple.
 
Quote from lundy:

I am trading one pattern only and trying to figure out its nuances.

I dont beleive there is a holy grail anymore, and I think this shift in philosophy is helping me. So, I dont think this pattern in itself is worth anything, unless you take the time to study it mix it with other indications, filters, etc.

here is a picture of the pattern.
More...

Expanded Gartley(g-pullback). (Normal Gartley is more common).
Ca. 62% odds. And R/R ca. 1.30.
:)

In my system there are patterns that in my opinion are better(ca.68% and R/R 1.30).
So... if I risk $500 on the 62% odds I risk $1000 on the 68%.
 
Now you have a g-pullback in EUR/USD daily bars.

But EUR/USD in daily is normally not very harmonic so I almost never trades it. Crude oil is much better.
EUR/USD is more harmonic in weekly
 
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