DislikedThat would apply to you since you are the one believing in magic. Ad hominem.Ignored
Get some stats on PA or chart patterns, there are some that definitely work.
An Edge for an Edge (System Development) 113 replies
What do you thing is your edge? 5 replies
Improving Your Trading Performance: The Single Most Important Step You Can Take 13 replies
The most simple thing you could ever do. 0 replies
The most difficult thing? 20 replies
DislikedThat would apply to you since you are the one believing in magic. Ad hominem.Ignored
Dislikedon the one hand you believe in statistics, on the other hand it seems you never tried to find stats on price patterns.
Get some stats on PA or chart patterns, there are some that definitely work.Ignored
DislikedI see what you mean but there are no 50%+ workable patterns on short time frames. Not in candles at least.Ignored
Dislikedwhy is everybody always so focused on the win-rate?
A positive expectancy system is comprised of win-loss and Risk-reward.
Most of my systems have an extremely low average win-loss (20-30%), but have a very positive expectancy due to the high average risk-reward (1:6 to 1:20) depending on the instrument.
Win-rates by themselves are irrelevant.Ignored
DislikedSure, few examples
RSI, TSI, bollinger band, cci, sma, zigzag indicator, macd ... All that is derived from the current and past price. No use in this crap.Ignored
DislikedSo according to Reres, Bollinger bands (BB) and other TA indicators are just crap and we cannot make money with them.
Ok, then let's put them to the test and see if Reres is right...
We will sell when the price touches the lower Bollinger Band and do the reverse for long trades (buy when it reaches the higher Bollinger Band). The BB period is the usual 20 and we will use a simple $1500 stop. Time frame = daily bar.
Tested on 21 different futures contracts here are the results of this extremely simple trading system.
Test period : 1/1/83...Ignored
DislikedBollinger Bands cannot be back tested because they repaint. It might look great in the back tests, however real time trading will show you a different picture.Ignored
DislikedI can post the backtest of other profitable technical indicators(Macd, Cci, etc...) but what's the use.Ignored
QuoteDislikedTest period : 1/1/83 to 8/31/99 (more than 16 years).
DislikedHumans will change their patterns based on their current environment.Ignored