What is your most profitable pattern?

This is a discussion on What is your most profitable pattern? within the Technical Analysis forums, part of the Methods category; So are you saying patterns or TA is the KEY to successful trading?.....there should be plenty of those traders around ...

View Poll Results: My most profitable pattern is:
H&S 2 6.06%
Flag 3 9.09%
Pin bar 4 12.12%
Triangle 3 9.09%
Something else 14 42.42%
I don't trade patterns 5 15.15%
I trade against them all the time 2 6.06%
Voters: 33. You may not vote on this poll

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Old Mar 29, 2013, 7:08pm   #9
 
Triggerfish's Avatar
Joined Nov 2009
Re: What is your most profitable pattern?

So are you saying patterns or TA is the KEY to successful trading?.....there should be plenty of those traders around as there are many books too.....all available to buy.....so we can ALL become successful?

But.....is this a reality?
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Old Mar 29, 2013, 9:47pm   #10
 
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Re: What is your most profitable pattern?

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Originally Posted by Triggerfish View Post
So are you saying patterns or TA is the KEY to successful trading?.....there should be plenty of those traders around as there are many books too.....all available to buy.....so we can ALL become successful?

But.....is this a reality?
I don't know TF

I can almost say I don't trade them - most of the time I ignore them, unless they're confirming certain levels etc.

I've listed here only few well known patterns. There could be some useful patterns we are not aware of. I've read a book (written by traders) and was exploring their patterns. It seems like they used to work nicely before, but when applying them to the markets nowadays they tend to fail miserably
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Old Mar 30, 2013, 10:31am   #11
Joined Jun 2011
Re: What is your most profitable pattern?

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Originally Posted by ZEN archer View Post
if there are such patterns - with high success/failure rate
Yes, there are such patterns. Out side of strong fundamental based moves, the markets makes profit by seeking out liquidity. When there is more liquidity above the current price level, the price goes up. When more below, the price goes down. Reversal happens when liquidity dries up in a particular direction. These occurances are extremely high probability. I can't give you the specifics. See this more as an inspiration.
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Old Mar 30, 2013, 1:04pm   #12
 
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Re: What is your most profitable pattern?

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Originally Posted by BeginnerJoe View Post
Yes, there are such patterns. Out side of strong fundamental based moves, the markets makes profit by seeking out liquidity. When there is more liquidity above the current price level, the price goes up. When more below, the price goes down. Reversal happens when liquidity dries up in a particular direction. These occurances are extremely high probability. I can't give you the specifics. See this more as an inspiration.
Thanks for the inspiration BJ
Very good liquidity seeking observations. Also the part about drying liquidity is simply excellent.
I'll immerse myself in liquidity studies straight away

PS Don't worry about the specifics - it's a minor detail
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Old Mar 30, 2013, 1:27pm   #13
Joined Jun 2011
Re: What is your most profitable pattern?

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Thanks for the inspiration BJ
Once you know what to look for, you are half way there.


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Originally Posted by ZEN archer View Post
I'll immerse myself in liquidity studies straight away
You are already immersed in it, just that you don't know it - a bit like the story in which one of the blind men who felt the leg of an elephant and said that was a tree.
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Old Mar 30, 2013, 1:40pm   #14
 
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Re: What is your most profitable pattern?

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You are already immersed in it, just that you don't know it - a bit like the story in which one of the blind men who felt the leg of an elephant and said that was a tree.
You mean this one?

"'Tell me, blind people, what is an elephant like?'

"Those blind people who had been shown the head of the elephant replied, 'An elephant, your majesty, is just like a water jar.' Those blind people who had been shown the ear of the elephant replied. "An elephant, your majesty, is just like a winnowing basket.' Those blind people who had been shown the tusk of the elephant replied, 'An elephant, your majesty, is just like a plowshare.' Those blind people who had been shown the trunk replied, 'An elephant, your majesty, is just like a plow pole.' Those blind people who had been shown the body replied, 'An elephant, your majesty, is just like a storeroom.' Those blind people who had been shown the foot replied, 'An elephant, your majesty, is just like a post.' Those blind people who had been shown the hindquarters replied, 'An elephant, your majesty, is just like a mortar.' Those blind people who had been shown the tail replied, 'An elephant, your majesty, is just like a pestle.' Those blind people who had been shown the tuft at the end of the tail replied, 'An elephant, your majesty, is just like a broom.'

"Saying 'An elephant is like this, an elephant is not like that! An elephant is not like this, an elephant is like that!' they fought each other with their fists. And the king was delighted (with the spectacle).
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Old Mar 30, 2013, 1:44pm   #15
 
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Re: What is your most profitable pattern?

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............ It seems like they used to work nicely before, but when applying them to the markets nowadays they tend to fail miserably............
Nothing "works" in the sense of certainty in the outcome, but many things "work" in the sense of giving you some reason to take a trade. What does work is the ability to take sufficient advantage when price moves favourably and to limit the damage when it doesn't.

Most of these patterns fire a starting gun, but you don't win the race at the start - you win it at the finishing line.
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Old Mar 30, 2013, 2:08pm   #16
 
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Re: What is your most profitable pattern?

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Originally Posted by barjon View Post
Nothing "works" in the sense of certainty in the outcome, but many things "work" in the sense of giving you some reason to take a trade. What does work is the ability to take sufficient advantage when price moves favourably and to limit the damage when it doesn't.

Most of these patterns fire a starting gun, but you don't win the race at the start - you win it at the finishing line.
Agree with most of it Jon
High success/failure rate patterns would make more accurate starting gun. I prefer being spoilt for choice as how much profit should I take from the very start rather than starting with a loss. It could be something to do with my trading style - impatient, quick profit taking without too much 'profit running' involved.

BTW I can see that 5 members use some other patterns (from the poll), but they wouldn't reveal the specifics
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