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Pattern Analyzer #478498
10/30/19 17:55
10/30/19 17:55
Joined: Oct 2019
Posts: 10
Clifford_B Offline OP
Newbie
Clifford_B  Offline OP
Newbie

Joined: Oct 2019
Posts: 10
Is the Pattern Analyzer discussed at length in the Black Book with examples that are not in the Manual?

I need more education on pattern analyzer.

Re: Pattern Analyzer [Re: Clifford_B] #478499
10/30/19 20:00
10/30/19 20:00
Joined: Feb 2017
Posts: 1,718
Chicago
AndrewAMD Online
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AndrewAMD  Online
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Joined: Feb 2017
Posts: 1,718
Chicago
The book walks through the development of a candle pattern trader - and then it explains why its performance is not statistically significant. The context of the development process is helpful.

Re: Pattern Analyzer [Re: AndrewAMD] #478500
10/30/19 20:11
10/30/19 20:11
Joined: Oct 2019
Posts: 10
Clifford_B Offline OP
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Clifford_B  Offline OP
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Joined: Oct 2019
Posts: 10
Let me get this straight. The book says OHLC patterns are not useful for trading.

Re: Pattern Analyzer [Re: Clifford_B] #478501
10/30/19 20:16
10/30/19 20:16
Joined: Feb 2017
Posts: 1,718
Chicago
AndrewAMD Online
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AndrewAMD  Online
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Joined: Feb 2017
Posts: 1,718
Chicago
That's not correct. The particular system that was developed in the book, which does use candle patterns, did not have statistically significant results.

I cannot emphasize this enough - the context is important. And more importantly, learning how to not lose money is a very useful skill in this business.


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