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Video: https://www.youtube.com/watch?v=3SELauVQ1Tk

The above video describe several pattern with high degree of success. I would like to implement two of them, i.e. Bullflag Rectangle pattern and the Head & Shoulders pattern. I tried to implement it using the scanners from Trade-Ideas, but they do not work at all. Is there an alternative to implement them? Do you have another website which could allow me to target them quickly?

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  • "Do not work at all" is not diagnosable. The patterns may be bogus and just have happened to work for one person at one time, your implementation may be wrong, ... Requests for recommendations of other websites are generally considered out of scope here, I'm afraid.
    – keshlam
    Commented Feb 9, 2023 at 23:59
  • All technical analysis (trading patterns) is bullshit.
    – user20574
    Commented Feb 10, 2023 at 13:05
  • Well, I was trying not to say that.
    – keshlam
    Commented Feb 10, 2023 at 21:01

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All technical analysis (trading patterns) is bullshit. None of it works, and you should not expect it to work. It is no better than numerology.

As a general rule, there are no patterns in the stock market. None. Because, if there was a pattern, a large trading company which has people smarter than you and hired computer servers in the stock exchange basement would be able to make money from doing the opposite of the pattern, and they would keep doing this (making money and cancelling out the pattern) until the pattern was completely gone. This is called the "Efficient Market Hypothesis".

Mostly, people who tell you about these patterns are trying to sell you books or video courses. Selling bullshit lessons about the stock market to suckers is a reliable way to make money using the stock market.

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  • People really don't like hearing that the only ""system" that works reliably is to invest rather than trade.... or to be a broker taking a commission on other people's trades whether they win or lose ... or to spend the megabucks in both computing power and minimizing transmission time to take advantage of microsecond arbitrage windows (And I'm still not convinced that's reliable enough to justify the effort.)
    – keshlam
    Commented Feb 10, 2023 at 21:07
  • BTw, there's apparently a "quant" area of Stack Exchange where you might find more of the people who do believe they can find a way to reliably beat the system.
    – keshlam
    Commented Feb 10, 2023 at 21:11
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    If you want to gamble, you can gamble. But remember that you are paying the house on every transaction, so like a casino you are starting in a statistically losing position. And the dealers just love people who think they have a system.
    – keshlam
    Commented Feb 11, 2023 at 14:58
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    @keshlam yes, that is how "investing" works too. So-called "investing" is mostly just betting that the economy will continue making more and more money, which is perhaps an unjustifiable assumption
    – user20574
    Commented Feb 11, 2023 at 15:56
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    @keshlam betting is gambling
    – user20574
    Commented Feb 12, 2023 at 15:57

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