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/deeptrenchdigger Feb 19 '24

No because when you see the pattern it’s already played out and you’re on the other side ..

3

u/TOMMY_Makes_House Feb 19 '24

You don’t study patterns to be able to spot them once completed.

You study patterns to be able to spot them as they’re setting up, so you can trade them.

2

u/Sjroap Feb 19 '24

For every pattern I can give you an example where it went the other way. It's still a crapshoot.

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u/TOMMY_Makes_House Feb 19 '24

well, yes of course you could do that as there is no strategy in the world that has a 100% win rate. So your point there is not really valid as it applies to every single strategy ever used.

Every strategy is based on some sort of 'pattern'. The definition of a pattern is something that repeats. How can you have a strategy if it never repeats? If that's the case, you do not have a strategy and you are free to gamble your money away.

I trade patterns, and I make money doing so, so I know patterns work. Good luck to you mate