Discussion of article "Patterns with Examples (Part I): Multiple Top" - page 2
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I agree!
But!
Many different good articles are published here on the forum, but there is no assessment from the financial point of view, i.e. economics.
Let's say, it is great that there is an auto-detection of figures: double top, triple top, head-shoulders.
But where is the assessment of their application on 5-minute, 30-minute or older timeframes, after all, this is a traders' forum, after all.
It is interesting that few people ask such questions as you do). In fact, it is true that there is a cool code, there is everything you need except for the application aspect. Programmers are capricious people, teach them to write code according to feng shui so they will make it a cult and will go around telling everyone what and how you should have, while there is nothing mathematical in the code, only an abstract idea of some kind. And if you ask him to implement something beyond the standard design patterns, this ideal programmer will sit in a puddle and they know it. One more very important point is that while licking all the code you can lose a lot of time which is required only for checking some idea and if we know that we need the code only for checking or demonstrating "how it can be done". As a result, we spend 3 or even 4 hours instead of an hour within the framework of market research and it turns out that instead of a year we spend 3-4 years on the same thing. I have 5 years of experience here, it turns out that I had to lick every line and spend 15 years on the same thing ? )) This is stupidity everyone understands ). Instead, it's better to spend time on the same maths, on some theory before writing "code for code's sake".
It is interesting that few people ask such questions as you do). In fact, it is true that there is cool code, there is everything you need except the application aspect. Programmers are capricious people, teach them to write code according to feng shui so they will make it a cult and will go around telling everyone what and how you should have, while there is nothing mathematical in the code, only some abstract idea. And if you ask him to implement something beyond the standard design patterns, this ideal programmer will sit in a puddle and they know it. One more very important point is that while licking all the code you can lose a lot of time which is required only for checking some idea and if we know that we need the code only for checking or demonstrating "how it can be done". As a result, we spend 3 or even 4 hours instead of an hour within the framework of market research and it turns out that instead of a year we spend 3-4 years on the same thing. I have 5 years of experience here, it turns out that I had to lick every line and spend 15 years on the same thing ? )) This is stupidity everyone understands ). Instead, it's better to spend time on the same maths, on some theory before writing "code for code's sake".
I suggest everyone to evaluate the rule:
- Any article should be supported by economics, trading run on history, on real ticks including, because there are discrepancies in price modelling on other points, for example, just on all ticks (allegedly).
What else I want to note:
- there was a topic on the forum where they discussed the small number of orders that freelancers carry out.
This is a very serious problem within this community.
Let me explain:
- the thing is that this is a forum for traders, and the topic concerning, for example, brokers is banned, and with hysterical squealing, that it makes your ears pop.
- this problem directly affects real traders. Further, this problem directly affects real market participants who do not want to take part in this virtuality, when articles are for the sake of articles or robots are for the sake of robots and signals are for the sake of signals.
We need a platform for real traders.
And the way things are now, it is a stay in a coma without connection to reality.
Is there any statistical substantiation of the pattern's prognostic abilities? What is the point of its identification on a chart if it is impossible to make a statistically significant forecast on it? A pattern is identified only after its complete construction - and then? Are there statistics or what is the point at all?
Is there any statistical substantiation of the pattern's prognostic abilities? What is the point of its identification on a chart if it is impossible to make a statistically significant forecast on it? A pattern is identified only after its complete construction - and then? Are there statistics or what is the point at all?
Patterns are a religion
Let me explain:
- To check graphical formations(double/triple top, head-shoulders), you need real volumes.
When confirming the breakthrough of a large volume, for example, the neck line (head-shoulders), the figure "Head-Shoulders" works quite technically immediately or through the retest of the "neck line".
BUT!
The real volumes, which can help in evaluating this figure as a predictive one, exist on the exchange markets, but on this "internal" pool of "forex" there is no such possibility.
And those volumes, which are swimming in this pool, are not a signal, as they are disconnected from reality and, accordingly, cannot "move" the market anywhere.
I think I have conveyed the idea clearly.
There is one very important problem here.
Let me explain:
- To check graphical formations(double/triple top, head-shoulders), you need real volumes.
When confirming the breakthrough of a large volume, for example, the neckline (head-shoulders), the "Head-Shoulders" figure works quite technically immediately or through the retest of the "neckline".
BUT!
Real volumes, which can help in evaluating this figure as a predictive one, exist on the exchange markets, and there is no such possibility on this "internal" Forex pool.
And those volumes, which swim in this pool, are not a signal, as they are disconnected from reality and, therefore, cannot "move" the market anywhere.
I think I have conveyed the idea clearly.
How do you know, if there are no volumes?
How do you know if there are no volumes?
From participating in real exchange trading.
That's where I got a lot from.
Of course, I repeat, we are shown volumes on FX, but these are the volumes of the internal brokerage pool.
There is one very important problem here.
Let me explain:
- To check graphical formations(double/triple top, head-shoulders), you need real volumes.
When confirming the breakthrough of a large volume, for example, the neck line (head-shoulders), the figure "Head-Shoulders" works quite technically immediately or through the retest of the "neck line".
BUT!
The real volumes, which can help in evaluating this figure as a predictive one, exist on the exchange markets, and on this "internal" pool of "forex" there is no such possibility.
And those volumes, which are swimming in this pool, are not a signal, because they are disconnected from reality and, therefore, cannot "move" the market anywhere.
I think I have conveyed the idea clearly.
Price moves not because of volumes, but because of people's actions (or indirectly - people through robots).
Exchange volume is a consequence of actions, which in itself means nothing, the logic of actions is always primary.
Logic is revealed through collecting data and analysing patterns, everyone trades statistics in one way or another (even if they think they are given revelations from above).
If patterns are revealed on tick volumes - they will work.
Price moves not because of volume, but because of the actions of humans (or indirectly, humans through robots).
Exchange volume is a consequence of actions, which in itself means nothing, the logic of actions is always primary.
Logic is revealed through collecting data and analysing patterns, everyone trades statistics in one way or another (even if they think they are given revelations from above).
If patterns are revealed on tick volumes - they will work.
You have no idea how the price moves, and it just moves by volumes.
If you set a barrier in the stack of buy and sell orders in the form of a large volume, for example, as the Central Bank or stock exchanges can and sometimes did, your efforts will not be enough, although you can spend your entire deposit on it and go borrow more.
It is obvious that there are no participants in the real market among you.
I urge you to study the real market and it is time to grow out of short trousers, not to broadcast revelations here.
Well, at least through Yandex get acquainted with real participants and their trading or read American books, they have been translated a lot.
Even Theodore Dreiser from his work "The Financier" will suffice.
Well, you have to start sometime, really.
You have been wasting years here.
I in no way want to offend or humiliate, but I urge you to "wake up".
You have no idea how the price moves, and it just moves in volumes.
If you set a barrier in the stack of buy and sell orders in the form of a large volume, for example, as the Central Bank or stock exchanges can and sometimes do, your efforts will not be enough, although you can spend your entire deposit on it and go borrow more.
It is obvious that there are no participants in the real market among you.
I urge you to study the real market and it is time to grow out of short trousers, not to broadcast revelations here.
Well, at least through Yandex get acquainted with real participants and their trading or read American books, they have been translated a lot.
Even Theodore Dreiser from his work "The Financier" will suffice.
Well, you have to start sometime, really.
You have been wasting years here.
I in no way want to offend or humiliate, but I urge you to "wake up".
:)
and putting a "barrier" in the glass is what? isn't that someone else's decision?
and why would it suddenly be someone's decision to put something in the glass?