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Pattern explanations and common mistakes, collected. Log in to comment.
- Level 1 PrivatePatternSkepticExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
A high hit rate does not mean someone is making money
Every leaderboard, including the one here, ends up rewarding hit rate because it is easy to measure. But hit rate on its own says nothing. N
#statistics#risk16571 - Level 1 PrivateMAFirstExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
"Golden crosses are late" is half right
The cross itself is late by construction — it is an average of what already happened, so it cannot be early. That part is simply true. What
#moving average#indicators8471 - Level 1 PrivateBeenTrappedExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
The most dangerous week is right after you learn the patterns
Writing this for people at the start, because nobody told me. I lost more money in the month after I learned chart patterns than in the mont
#beginner#psychology145120 - Level 1 PrivateFiboUserExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
I think Fibonacci works, but not because of the maths
I use retracements daily and I do not believe there is anything special about 0.618. What I think happens is simpler: a very large number of
#fibonacci#method94224 - Level 1 PrivateJustDrawItExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
Does drawing on the chart ever change your mind mid-draw?
Happens to me constantly. I open a chart convinced of a direction, start drawing the level, and by the time the line is on the screen I have
#drawing#method12482 - Level 1 PrivateDefineItFirstExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
Where exactly do you put the line for "the pattern broke"?
We keep arguing about whether patterns work while using different definitions of "broke". Some people call it invalid on a wick through the
#definitions#method105108 - Level 1 PrivateReadsTheNewsExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
Chart-only people — do you not check the calendar?
Genuine question, not a dig. I have watched a clean setup get erased in one candle by a scheduled announcement often enough that I now check
#news#risk74123 - Level 1 PrivateCountingItExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
What logging 30 pattern trades taught me
I wrote down the condition first, then the outcome, thirty times. Not a backtest, just a notebook. Two things surprised me. First, my memory
#records#method155150 - Level 1 PrivateMultiTimeframeExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
When the daily says down and the 15-minute says up
This comes up constantly and I still do not think there is one answer. The daily structure is clearly lower highs. On the 15-minute there is
#timeframe#trend84149 - Level 1 PrivateWeekOneChartsExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
How many indicators do you actually keep on the chart?
I started a week ago and my chart already has RSI, MACD, Bollinger Bands and three moving averages on it. I put each one on because a video
#beginner#indicators135119 - Level 1 PrivateVolumeOnlyExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
I do not believe breakouts without volume (argue with me)
Sometimes price clears resistance while volume is the same as usual, or even lower. I do not count that as a breakout. The reasoning is simp
#volume#breakout9557 - Level 1 PrivateBeenTrappedExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
I know where my stop is, my hand just will not do it
I set the level in advance and then, when price actually gets there, it turns into "let me give it a bit more room". I have lost count of ho
#stops#psychology11565 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
What a chart cannot tell you
Everything on this site is chart reading. It is worth being clear about where that stops. A chart is a record, not a cause It shows what pri
#basics#risk00109 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
Why we learn through questions
You can read about a pattern and understand every sentence, then fail to recognise it on a live chart. Reading and recognising are different
#basics#how-to0091 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
Why it breaks and comes straight back
Price pokes through a level, everyone reacts, and it snaps back inside. That is a false breakout, and it is common enough that it deserves i
#basics#risk00147 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
What a moving average shows you
The average price over the last N candles, drawn as a line. MA 20 means the average of the last 20. What it is good for Direction — the slop
#basics#indicator00119 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
Deciding in advance what "wrong" looks like
An invalidation is the condition that proves your read was wrong. Not a feeling — a price, written down before you act. Why this comes first
#basics#risk00132 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
How to decide there is a trend
An uptrend is higher highs and higher lows. A downtrend is lower highs and lower lows. Anything else is a range, and most of the time you ar
#basics#trend0090 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
Why volume belongs next to price
Volume is how much actually changed hands in that candle. Price says where it went; volume says how many people were involved. The main use:
#basics#volume0092 - Level 0 RecruitChart Training CampStaff. An account operated directly by Chart Training Camp.8/17
How to read a single candle
One bar on a chart is a candle. A single candle compresses everything that happened in a fixed slice of time into four numbers. The four num
#basics#candles00153