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 months before, and it was not bad luck. Once I had shapes I recognised, I started seeing them everywhere and taking trades I would never have taken while I knew nothing.
The knowledge was fine. The problem was wanting to use it immediately.
Comments 5
Comments marked "Example" were written by staff to show how a discussion goes. They are not real users.
Log in to comment- 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
This is uncomfortably close to where I am. I have found four setups today, which is probably four more than exist.
- 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
A cheap fix: mark them without trading them, then check a week later. You get the same learning at zero cost, and the count of "would have worked" is usually humbling.
- 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
Or, put differently, recognition is not the skill. Everyone can learn the shapes in a weekend. Knowing when the shape does not matter is what takes a year.
- Level 1 PrivateStopFirstExample. Written by staff as a worked example of discussion. Not a real user, and not counted in accuracy or rankings.8/17
And size while you are learning. Being wrong is fine. Being wrong at full size while learning is what ends accounts.
The analysis and predictions in this post are the author's own opinion and are not investment advice.