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Trade What You See: How To Profit from Pattern Recognition by Larry Pesavento, Leslie Jouflas

Trade What You See: How To Profit from Pattern Recognition Larry Pesavento, Leslie Jouflas ebook
Publisher: Wiley
Page: 211
ISBN: 2007034476, 9780470106761
Format: pdf

It will still require a high level of market understanding from the person using it, but you will be able to see when signals present themselves over a great number of currencies for instance. Apple advertised itself as time to think differently. Successful market speculators not only recognize profitable chart patterns, they have the discipline and personality needed to follow rules. Sure, as a technical analyst I must give some credit to fundamentals, but the truth is that if you asked me to name 20 companies I've owned shares of over the last year I probably couldn't do it. This is a good way of maximising profit. You are not in the I-know-the-market-better-than-anyone-else business. Once you have breakout pattern recognition down, this does not guarantee success. It is just too eerie when you see the content of the January 1984 Superbowl Ad that ran on January 22, 1984. You are not even in the economics-analysis business. 30 years later, the ad is spooky. While many of us spend months and years perfecting our trading strategies, there are individuals who swear by the use of software that can act independently, seeking out patterns and projecting where. Not just any Today , breakout trading is where you see most of the money being made in Forex trading by those who truly understand the structure behind a true breakout; those traders are getting paid from those who don't understand. You are not in the I've-got-the-sweetest-pattern-recognition-algo business. 95% of Practically the only way I get to know a company's name is when its chart repeatedly shows the same pattern over and over again causing me to get bored trading it and think to myself, "What does this company even do, anyway?" We shall just have to wait and see.