<I am a anti trendline and classic patterns man. >
Well, Richard
I have to rise to the challenge here.
I think that you overlook one key element here, and that is that all trading systems have to be suitable to the trader - even you say that over and over again.
Now I know that I am good at pattern recognition, I have been tested for it and proved it often enough in my work [back in the days when I had a day job]
And I tried for two years to find some sense in stochastics, RSI, Macd etc etc. And I guess I see a MACD divergence as well as anyone, but I never did see anything in RSI/Stochastoc until it was way too late to do anything about.
So who knows, maybe I was under educated, maybe I didn't look at the right things. Whatever.
But I can tell you this, once I started concentrating on flags and pennants, I started making money. I can see pennants/flags and I can see the possibilities of their moves. Things that I never could see with RSI.
Now, I will admit that I pick the patterns to trade using Crabel's NR7 and Connors historical volatility - so that should give you enough room to prove your point. But there has been at least one great pattern trader, and that is Victor Sperandeo.
So I think that you should temper your anti pattern ramblings so as not to discourage the novice who can actually relate to chart patterns. Had I not been seduced by those fancy technical indicators so many years ago, I would have been a lot more profitable, sooner.
Regards
Bob
And, if by any chance your recent rambling was induced by my latest posting on TC2000 thread, why don't you post your own scientific analysis, I'd like to see the difference in outcome |
