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Pattern recognition software

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Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 4,367 since Jan 2013
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Last week I removed the last vestiges of quite sophisticated volume studies that I had clung to for many moons, finally realising they are just another illusion. My charts have never looked clearer or felt better and the decision at the one place that counts just got simpler.

Now I just need to hold that trade, and that's what 2016 is for..

Not by any means to disagree, but just two additional points:

1. Sophisticated studies, volume or otherwise, can mess you up. There doesn't have to be anything wrong with them, either. It's just that you can only juggle so many items of data or relationships at once. Less really can be more.

2. "Hold that trade" is, obviously, trade management (and trader management .) I do not know that I would agree with those who believe that this is the most important part of trading, but I don't know that I would disagree, either. Assuming you've got something that gives you any kind of edge, anyway. And for all I know, it could be enough of an edge....

Getting a little off-topic, but I do think it can be brought back to the original question of chart patterns and software to recognize them. The point would be that what's in the eye of the beholder is just as important as what is on the chart, which is why some people use patterns and are successful, and others are not.

Bob.

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