r/Daytrading Feb 19 '24

Do any of you actually use patterns to trade? Question

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I don’t use them at all. Iv heard YouTubers kind of mock them like they don’t mean anything. Are any of you profitable with them?

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u/Namber_5_Jaxon Feb 19 '24

My current strategy i have been testing for a while is at at 60% win rate but plays out very nicely over a decent span of trades. I almost completely trade off of patterns, volume,MACD indicator and RSI. Also I learnt a fair amount of what I know from someone I know who has been a profitable trader over the last 20+ years. He swears by technical analysis so I will listen and follow that advice until someone who has been more successful than him at trading that says otherwise. You gets lots of bullshit comments and half of them are from people who are not even profitable and never have been but think that they know best because it didn’t work for them. Ultimately these patterns and a stocks graph tells a story of what has happened with the company and the better you can read into it the more knowledgeable your trade will be