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Pattern recognition software
Started:September 24th, 2015 (06:11 PM) by brags Views / Replies:1,662 / 13
Last Reply:December 6th, 2015 (11:38 AM) Attachments:1

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Pattern recognition software

Old December 6th, 2015, 09:45 AM   #11 (permalink)
Market Wizard
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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.


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Old December 6th, 2015, 09:57 AM   #12 (permalink)
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Granted a small percentage of investors have even heard of TA never mind utilize it...but how will it affect the way the market behaves if this number increases substantially?

Last edited by brags; December 6th, 2015 at 10:02 AM.
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Old December 6th, 2015, 11:23 AM   #13 (permalink)
Market Wizard
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brags View Post
Granted a small percentage of investors have even heard of TA never mind utilize it...but how will it affect the way the market behaves if this number increases substantially?

Imho not at all, most will undoubtedly still follow fundamental views, news headlines, fund recommendations, etc, etc, i.e. 'get sold to'. TA simply allows us to see the trails made by global mood swings and the large players taking advantage, it doesn't allow us to create the trails.

I think the biggest gap in understanding is like an 'S' level physics question - can you get near to the right order of magnitude with a decent answer. We tend to be ultra narrow minded and highly focussed on our own little niches and like to think that a handful of traders means something, when in fact it is just noise. There is more than one order of magnitude involved in comparing satsumas and pumpkins.

Back to the original question in the title I have used a lot of pattern recognition software programs, all are still pale by comparison with the lump of wet fat we got born with. I consider myself to be a good analyst, but as we know this does not make me a trader. I hope by improving the latter I can at sometime more successfully demonstrate the depth of what I mean when I talk about the former.

To be fair, I am sure that for most people leaving out the analytical and concentrating on the tactical side of trading would be the simpler and more profitable route.


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Old December 6th, 2015, 11:38 AM   #14 (permalink)
Market Wizard
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Of course there are many more patterns in the markets to make some decent gains.
If you only are looking for standard candle patterns like double bottom, morning star,
hammer etc. this will lead to desaster. As already a lot of people are aware.
This makes those patterns difficult to trade as the masses hang in anyway.

If you find your own fine patterns (maybe in combination with the weekday) or just
looking at Initial Balance then the chance can be good to be not on the highway of
the traders mass.

To make it clear - thinking in longer timeframes during the day makes it much easier to
"see" a pattern and of course it gives more points than searching in a one minute chart.
That is already said thousand of times here - but one can never leave it behind.

Good trades
GFIs1 who makes the most with patterns here on one single instrument

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