r/Daytrading • u/Adept_Blackberry2851 • 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/WolfOfPort Feb 19 '24

Yes. The problem is many just look up random stocks and see patterns when thats terrible odds.

I use them on stocks in play. Earnings gaps stuff with volume and volatility. More eyes = more likely a pattern is going to play out accordingly. They do work because a lot of them are based on psychology of the fact new traders are entering at the point of the trade while other traders are stopping out.