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; Originally Posted by BeginnerJoe Sorry my friend. I am not here to help anyone in the usual sense. I am ...

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

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 1, 2013, 5:07pm   #106
Joined Mar 2013
Re: What is your most profitable pattern?

Quote:
Originally Posted by BeginnerJoe View Post
Sorry my friend. I am not here to help anyone in the usual sense. I am demonstrating what is possible. I believe knowing what is possible changes a person's thinking. My definition of liquidity is thus: liquidity is cash, liquidity is ATM, liquidity is you.
What exactly is it that’s possible that you think you are demonstrating?
Purple Brain is offline   Reply With Quote
Old Apr 1, 2013, 8:31pm   #107
 
ZEN archer's Avatar
Joined Jan 2012
Re: What is your most profitable pattern?

ZEN archer started this thread Nobody has voted for flags or pin bars so far.

One member was happy with h&s under specific circumstances, but didn't vote. The overwhelming majority chose 'something else' - some other pattern.

3 members chose 'I don't trade patterns' - I was one of them and it's the right choice for my style of trading. I guess I feel better if I see one at the right place, so it's more trading them by coincidence really. If I've known of a high success rate pattern, I would definitely trade it.

I can see that one member trades against them all the time - it would be interesting to know how successful they are in playing failed patterns

Last edited by ZEN archer; Apr 1, 2013 at 9:03pm.
ZEN archer is offline   Reply With Quote
Old Apr 1, 2013, 9:15pm   #108
Joined Sep 2010
Re: What is your most profitable pattern?

I used to love pin bars, I think they are a part of everyones journey in learning price action. I don't trade patterns anymore, I just wait and see what happens at the levels I'm interested in.
brewski1984 is offline   Reply With Quote
Thanks! The following members like this post: Purple Brain , ZEN archer
Old Apr 1, 2013, 9:27pm   #109
Joined Mar 2013
Re: What is your most profitable pattern?

The majority of respondents to this poll have been serious, intelligent, thought provoking and some, for me at any rate, have been incredibly insightful. There have obviously been one or two who are far from serious, but once you get where they’re coming from, quite humorous in their own unique way. It’s a delightful mix and I am genuinely pleased to now be a contributing member of this site after having lurked for so long. My one concern is that those genuinely new to trading may waste time and effort attempting to decipher the apparently cryptic, but ultimately facile posts masquerading as possessing deep experience and knowledge at the expense of allowing the truly uninitiated to pursue more relevant and genuine advice. I trust the moderators artfully manage that fine line between unrelentingly useful advice and discussion and stress relieving humour and even ill-considered misdirection aimed purely at someone else’s expense. While most members seem supremely capable of both thank goodness, clearly there are some that specialise only in the latter. It must be a tough job knowing when enough is enough, when to let it slide and when to take action. Just like trading really.
Purple Brain is offline   Reply With Quote
Thanks! The following members like this post: bbmac , ZEN archer
Old Apr 1, 2013, 9:30pm   #110
Joined Mar 2013
Re: What is your most profitable pattern?

Quote:
Originally Posted by brewski1984 View Post
I used to love pin bars, I think they are a part of everyones journey in learning price action. I don't trade patterns anymore, I just wait and see what happens at the levels I'm interested in.
Are these levels support and resistance, moving averages, fibs or some combination thereof, or something else entirely?
Purple Brain is offline   Reply With Quote
Old Apr 1, 2013, 9:55pm   #111
 
malaguti's Avatar
Joined Nov 2009
Re: What is your most profitable pattern?

Quote:
Originally Posted by Purple Brain View Post
My one concern is that those genuinely new to trading may waste time and effort attempting to decipher the apparently cryptic, but ultimately facile posts masquerading as possessing deep experience and knowledge at the expense of allowing the truly uninitiated to pursue more relevant and genuine advice.
A very eloquent way of spelling BeginnerJoe
malaguti is offline   Reply With Quote
Thanks! The following members like this post: bbmac
Old Apr 1, 2013, 10:21pm   #112
Joined Nov 2010
Re: What is your most profitable pattern?

the pattern, a live one

no guarantees of course, a % always fail, plus we have interest rates today

Quote:
Originally Posted by jungles View Post
the best patterns in my view are both simple and easily spotted by market participants

below is the pattern and then an example from a trade last week
Attached Thumbnails
2013-04-02_0719.png  
jungles is offline   Reply With Quote
Thanks! The following members like this post: ZEN archer
Old Apr 2, 2013, 3:56pm   #113
Joined Sep 2010
Re: What is your most profitable pattern?

Quote:
Originally Posted by Purple Brain View Post
Are these levels support and resistance, moving averages, fibs or some combination thereof, or something else entirely?
Just basic support and resistance. I ditched all the moving averages and indicators back in my early days after one day when RSI, Bollinger Bands, MACD and moving averages were all screaming at me to buy, so I did and the price still kept dropping. A day or two later, all the indicators and moving averages were back to "normal" but the price was still well below where I entered the trade.

Of course that's just normal behaviour for indicators and moving averages in lagging behind the price, I just didn't understand that at the time. I don't doubt they have some value but it annoyed me so much I never even bothered with them since.

I may have exaggerated the story a little bit, I can't remember exactly which indicators they were but I remember seeing the RSI at about 7 and thinking there's absolutely no way price can go any lower!
brewski1984 is offline   Reply With Quote
Thanks! The following members like this post: bbmac , neil
Old Mar 14, 2014, 1:00am   #114
Joined Mar 2014
Gartley pattern, especially if it occours with a confluence of some other pattern or important Fib ratio.
Example: http://marketchartpattern.com/forex/...13-march-2014/
DuCaan is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
'Jumpy' pattern bedsit General Trading Chat 14 Aug 25, 2011 10:17am
When is a pattern not a pattern? nicolebobbin Forex 0 Sep 30, 2008 10:56am
Is there a name for this pattern? JumpOff Technical Analysis 21 Nov 2, 2004 8:08am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)