Hi , is there a software who can be used for training? i want a software who can put trendlines patterns automatically assuming its possible to do so , i want it to include all popular chart patterns and if its possible i want it to test my knowledge with questions based on different patterns and charts , i want to get a feel about how real trading using technicals looks like.
training software?
- Thread starter Wach80
- Start date
What exactly i get wrong? i cant jump from books to demo , i have learned a lot of stuff but i still need to practice it and see it in real action and also question myself if i understood it correctly , how am i supposed to do that?
The only software you need is a platform.
Like Ninja Trader, Interactive Broker or whatever.
That would allow you to trade in Simulation or for Real.
Drawing tendlines & patterns is fast & frugal. No automation's needed.
But what's absurd is that you want Questions & Answers about them ...
You're not training for an exam here. This idea seems ridiculous.
Especially that you want to get a feel about how trading's like.
Even a child could draw lines & patterns over a chart !!!
And he could as well link some pattern with their consequents !
What's hard is handling uncertainty !
EVERYTHING ELSE IS EASY.
What's hard is to handle Errors.
Which is divergences btw expectations & reality.
Knowing that ERROR has infinite variance and is chaotic.
Markets are fuzzy, dynamical, psychologically disturbing & Co.
THESE ARE THE REAL PROBLEMS.
You'll be very surprised to see that ...
A pattern morph actually into an other one !
Or that the consequences aren't really what you've learned !
Textbooks case happens, but more often than not, it's a real mess.
My advice is to learn a pattern then trade it real time, 100 times & more.
Keep an eye on the Reward:Risk. How often you lose. How much ?
Expectations is debiased right on the battlefield.
Sharpen it. Study how market moves & how to manage your Risk.
I Mean ... How to get better expectations & how to win big & lose small.
A pattern is simply an Antecedent followed by a Consequent.
It's price / market driven. Humans "recognize" them, for the worst or not.
If lemons are squeezed then you can assume to collect some juice.
But not every lemon are juicy or squeezable. See ?
Not every squeeze is the same neither.
You won't find perfect patterns.
Every pattern is singular.
And MOSTLY UNCERTAIN !
To make decision under uncertainty.
To take good actions under uncertainty.
This is the real skill that's learned empirically.
Mostly. I mean, it has to be an automatism.
What evidences ? What actions ?
Then repeat & repeat.
& reduce errors.
To pick the best alternative,
According to the evidences at hand.
Knowing that the outcomes are probabilistic.
And have an infinite variance & a tricky distribution.
Like Ninja Trader, Interactive Broker or whatever.
That would allow you to trade in Simulation or for Real.
Drawing tendlines & patterns is fast & frugal. No automation's needed.
But what's absurd is that you want Questions & Answers about them ...
You're not training for an exam here. This idea seems ridiculous.
Especially that you want to get a feel about how trading's like.
Even a child could draw lines & patterns over a chart !!!
And he could as well link some pattern with their consequents !
What's hard is handling uncertainty !
EVERYTHING ELSE IS EASY.
What's hard is to handle Errors.
Which is divergences btw expectations & reality.
Knowing that ERROR has infinite variance and is chaotic.
Markets are fuzzy, dynamical, psychologically disturbing & Co.
THESE ARE THE REAL PROBLEMS.
You'll be very surprised to see that ...
A pattern morph actually into an other one !
Or that the consequences aren't really what you've learned !
Textbooks case happens, but more often than not, it's a real mess.
My advice is to learn a pattern then trade it real time, 100 times & more.
Keep an eye on the Reward:Risk. How often you lose. How much ?
Expectations is debiased right on the battlefield.
Sharpen it. Study how market moves & how to manage your Risk.
I Mean ... How to get better expectations & how to win big & lose small.
A pattern is simply an Antecedent followed by a Consequent.
It's price / market driven. Humans "recognize" them, for the worst or not.
If lemons are squeezed then you can assume to collect some juice.
But not every lemon are juicy or squeezable. See ?
Not every squeeze is the same neither.
You won't find perfect patterns.
Every pattern is singular.
And MOSTLY UNCERTAIN !
To make decision under uncertainty.
To take good actions under uncertainty.
This is the real skill that's learned empirically.
Mostly. I mean, it has to be an automatism.
What evidences ? What actions ?
Then repeat & repeat.
& reduce errors.
To pick the best alternative,
According to the evidences at hand.
Knowing that the outcomes are probabilistic.
And have an infinite variance & a tricky distribution.
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You MUST jump from book to demo.
Back & Forth if you want. But EXPERIMENT !
You can trade in SIM and record your trading.
You can download a software to record your screen.
Trade and then watch the video. This is a good practice.
You probably misunderstood me , im not looking to find if my patterns are foolproof or used on perfect timing , id ont care about this , all i care is if i drew it correctly on the chart as silly as it sounds , you say thats easy but it doesnt feel easy for me and yes i want this so i can complete my first trades , that would be an important step for me , i want very much to complete my first trades using the first patterns i learned , i can give some examples on my mt4 platform:
Btw what i dont get is , do you draw lines on last part of the chart and what if a pattern isnt possible to draw? (seems to happen often)
1. one month chart , is the drawing and spot of analysis correct? it is a resistance trendline , now can i assume for ex that if its crossed during the next days , it will probably mean an uptrend? should i analyze the whole chart?
2. is this a triple top? if the price surpass the line can i assume a trend begin? i t hink that one required at least more than one month? but where do i find charts like this?
Several problems:
1. I need a software that automatically draw patterns and has a lot of them so i can see how drawing works on a real chart like the ones i posted above and whats needed for a pattern to be valid
2. I can only draw patterns between peaks of 1-2 days difference , i think some patterns like head and shoulder required much bigger time , where do i find those charts?
3. Its impossible to draw a pattern on some charts , do i give up on these charts and say that i have no strategy for them?
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This is how I learned long ago and I did it even after home PCs can out, I use to go to library every Saturday and copy down high/low/close of all the grain prices for the week from Wall Street journal, then go home and chart them myself, looked in Edwards and McGee book on charting for support and resistance, you learn by doing and not the lazy way of using computers.
Im not lazy , i just think it will help me learn faster.
Can anyone confirm if my chart's lines look valid?
I downloaded autochartist plugin , it seems the net is full of chart pattern recognition software and even automation , it was the only free software , its drawing patterns are strange , it use a lot of triangles , i would like to dl metastock but its expensive 
, gotta reread the triangle pattern ch apter
, gotta reread the triangle pattern ch apter
You seek validity confirmation of the TLs you draw - fair enough
Subsequent PA (subsequent to you drawing whatever TL / TLs) - does that
And if it doesn't
Either you've drawn the TL / TLs incorrectly..., or..., the players.., and/or PA environment - has changed
Pretty straightforward actually
===============
Charts are footprints - they are created the same as game trails
Game trails do go stale / get abandon
RN