Where can we find that V Pattern Indicator and templates ?
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{quote} That's exactly the key point you mention. Without exact entry rules, and I mean really exact, a backtest can differ from CRV's 1:1 to 3:1, it is very random depending what you choose. The problem with systems like that is the interpretation room what is meant as a "high" which has to be broken or a "low" which has to be broken. In one scenario you get stopped out because you have chosen the "wrong" high (let's say you were going short). On the other scenario you were not stopped out because you have chosen another high which was higher....
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- #945
- May 8, 2022 6:15pm May 8, 2022 6:15pm
- Joined Sep 2008 | Status: Trader | 2,275 Posts
Thanks Emma for showing examples. The funny this is you show exactly the problem which I mentioned before (don't worry, many pros here do the same).
Let's take your last example, here it is very clear:
The "A" Scenario trade is nice and clear. 
But the "B" Scenario breaks all rules of A Scenario - longer timeframe until "corridor" of breakout is completed, violating exit rule if V-Pattern is broken to the upside - except the corridor is not yet finished. So the question is: when is the corridor finished? Is it a matter of time or price? Or is it individual (order blocks, daily candle and if so which time? NY-Time? London Time?)
For me it is always fascinating how people can earn money with forex with "looking" at the chart and decide than individual to buy or not to buy. What I found out is that it not important to be right always to make profits, it is important that you have exact rules when you enter and exit and if you leave these exact rules you give the algo traders the chance to take your money.
May be as a real pro, consistent for years, you can trade like Emma and decide individual where to enter or not and you still make money but that needs hell of experience.
Let's take your last example, here it is very clear:
The "A" Scenario trade is nice and clear.
For me it is always fascinating how people can earn money with forex with "looking" at the chart and decide than individual to buy or not to buy. What I found out is that it not important to be right always to make profits, it is important that you have exact rules when you enter and exit and if you leave these exact rules you give the algo traders the chance to take your money.
May be as a real pro, consistent for years, you can trade like Emma and decide individual where to enter or not and you still make money but that needs hell of experience.
