Spekitox my man, where ya been...?
All I can say to this whole randomness and pattern type focus is that have you ever stopped to ask yourself wtf you're (traders in general) actually doing?
I think the majority of traders treat the markets like a computer game. The charts will draw random patterns and non random patterns because there is a combination of random activity and at the same time non random activity. There's an argument for both sides, everyone's a winner there.
It's easy to see 3 week patterns happen and believe that you're gonna be a millionaire because it's happened so consistently that you believe (optimistically) it will happen forever... That's when you get those excited guys on the forum telling you they've found the holy grail or whatever.
Fact is that 3 week pattern was probably just the accumulation habits of one particular bank who was in on a certain move and systematically scaled into his position the same way over those 3 weeks.
Heres a good excersise for pattern junkies; stop thinking eternity and start thinking PEOPLE. watch for a repetitive pattern that builds a move in one direction, and when you see the same pattern "unwind" (same pattern but backwards) it's likely the same trader or organization unwinding, so go with it.
People are creatures of habit and the market is essentially people. In my belief all edges should be built around this philosophy but it takes a certain open mindedness to see things this way.
I don't trade like that because it's quite subjective but when you have a good eye for charts you can see these sorts of things. One week the market might be controlled by one event, person, trader, organization. The next it may and will likely be someone/ something completely different, this creates different movements and "patterns".
There are people who can read charts and trade profitably but their skill comes from an understanding that you won't find in a pixel on your computer screen. I guess in a nutshell all you need to understand is who is getting fked when, where and why. If you can acknowledge and understand this, then and only then can your charts provide you with the information you need imo.
All I can say to this whole randomness and pattern type focus is that have you ever stopped to ask yourself wtf you're (traders in general) actually doing?
I think the majority of traders treat the markets like a computer game. The charts will draw random patterns and non random patterns because there is a combination of random activity and at the same time non random activity. There's an argument for both sides, everyone's a winner there.
It's easy to see 3 week patterns happen and believe that you're gonna be a millionaire because it's happened so consistently that you believe (optimistically) it will happen forever... That's when you get those excited guys on the forum telling you they've found the holy grail or whatever.
Fact is that 3 week pattern was probably just the accumulation habits of one particular bank who was in on a certain move and systematically scaled into his position the same way over those 3 weeks.
Heres a good excersise for pattern junkies; stop thinking eternity and start thinking PEOPLE. watch for a repetitive pattern that builds a move in one direction, and when you see the same pattern "unwind" (same pattern but backwards) it's likely the same trader or organization unwinding, so go with it.
People are creatures of habit and the market is essentially people. In my belief all edges should be built around this philosophy but it takes a certain open mindedness to see things this way.
I don't trade like that because it's quite subjective but when you have a good eye for charts you can see these sorts of things. One week the market might be controlled by one event, person, trader, organization. The next it may and will likely be someone/ something completely different, this creates different movements and "patterns".
There are people who can read charts and trade profitably but their skill comes from an understanding that you won't find in a pixel on your computer screen. I guess in a nutshell all you need to understand is who is getting fked when, where and why. If you can acknowledge and understand this, then and only then can your charts provide you with the information you need imo.
Time hides Nothing