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clock Created with Sketch. 08/10/20
17:55
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Originally posted by LeeKing
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I and many others wasted years trying to find a formula. You will find plenty of formulas that work for a while, but when you backtest them, you find they don't work. Those wasted years were based on a faulty premise, i.e. the human brain wiring that makes us look for patterns, e.g. "It rained yesterday when I did X, so I should do X whenever I need rain." The same pattern fascination can be seen in punters at the casino. And if you ask successful pattern followers, they start by telling you a seemingly simple pattern, then when you question further, you find that they have a million ifs and buts about the details. So it's not really a pattern.
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You said patterns do not work, but then you say "except buying at support levels on the way up and selling at resistance levels on the way down". Isn't this a pattern, even though you seem to have it the wrong way around, which is probably why you didn't perform as expected, given your post.
Last edited by
5speed :
08/10/20
(20min delay)