How price moves, what may move price and how inefficiencies can be exploited, must be studied, internalized, iterated upon and practiced. Simple breakout/consolidation-systems, what are they based on? Not everything: a diagonal or horizontal line being broken or containing price action? May not mean much if there's a line just above or below it, or even when no extra lines are there. So you need something more. Higher timeframe trend, might help, how much will it help? Too high timeframe trend will not work for a too low timeframe trade.
Then there's trade management. How do you prevent getting stopped out, guaranteeing a loss, or lose so little it's meaningless, minimizing losses? Unless your broker gives you free trades, you'll need to cut down costs to a bare minimum, as all costs will be part of your anti-edge.
Then there's trade tactics and strategies. How often can you expect a pure bull/bear-market and how can you adapt to less stellar markets, which are more the rule than exception? You'll discover the inefficiencies may force you to becoming less efficient in the process too, instead of hoping for the next rocket launch every trade. Why commit to a trade if it may put you in a bad position at some higher probability, when you can commit to trades that are easier to manage later? What are the give and takes of each action you can possibly take at any point in time?
THEN there's psychology. Most people I talk to about trading usually ignore their losses and costs, brag about a few good trades they made in the distant past while failing to explain why they made it. Won't say why they stopped trading if everything were so good as they say.. When people can't admit to others or at least themselves wether and why they failed, how can they ever improve? The type of necessary psychology will need to be relentless pursuit of finding flaws in yourself and the way you work, at all levels. You may find out there's feelings inside you, of not wanting success: fear, paranoia, insecurities, guilt, confusion. Need to go through them all and find ways to cope.
Later, portfolio management, but gotta master the levels above first.
So trading pullback in breakout or any other pattern may or may not be a good idea. What matters is why you do the trade, what backs you up, on all levels. If it's based on hope, because it seems breakout's what price do all the time, or "everybody knows the market consolidates" 70% of the time, then I can't see the trader overcome all the negative edges provided by the market by default (max pain).
At all times there's sharing. Successful people share all the time and grow by leaps and bounds beyond the average. Nothing can be truly lost when you are abundant.
