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The markets are unpredictable & irrational
When you can accept this unpredictability you'll suddenly find sticking with your trading plan is so much easier. Accepting losses will also allow you to let your winning trades run. Fiddling with your strategy by overriding it "believing" what is going to happen next will inevitably "white ant" you every turn. For a position to go up it needs breathing room & trading with a "gut feeling" is really trading in such a way that's unquantifiable.

Chart patterns need rules
Chart patterns are meaningless without a set of rules to take advantage of those patterns. Rules decide when to trade, how much to trade
& where to take profits, or where to crystalise a loss. Once you have your rules in place you need to be able to test them against a sample of historical data, allowing evaluation & validation of those rules.

Skate.

<blockquote data-quote="Skate" data-source="post: 1145136" data-attributes="member: 57364">The markets are unpredictable &amp; irrationalWhen you can accept this unpredictability you&#039;ll suddenly find sticking with your trading plan is so much easier. Accepting losses will also allow you to let your winning trades run. Fiddling with your strategy by overriding it &quot;believing&quot; what is going to happen next will inevitably &quot;white ant&quot; you every turn. For a position to go up it needs breathing room &amp; trading with a &quot;gut feeling&quot; is really trading in such a way that&#039;s unquantifiable.Chart patterns need rulesChart patterns are meaningless without a set of rules to take advantage of those patterns. Rules decide when to trade, how much to trade &amp; where to take profits, or where to crystalise a loss. Once you have your rules in place you need to be able to test them against a sample of historical data, allowing evaluation &amp; validation of those rules.Skate.</blockquote>

[QUOTE="Skate, post: 1145136, member: 57364"] [B]The markets are unpredictable & irrational[/B] When you can accept this unpredictability you'll suddenly find sticking with your trading plan is so much easier. Accepting losses will also allow you to let your winning trades run. Fiddling with your strategy by overriding it "believing" what is going to happen next will inevitably "white ant" you every turn. For a position to go up it needs breathing room & trading with a "gut feeling" is really trading in such a way that's unquantifiable. [B]Chart patterns need rules[/B] Chart patterns are meaningless without a set of rules to take advantage of those patterns. Rules decide when to trade, how much to trade & where to take profits, or where to crystalise a loss. Once you have your rules in place you need to be able to test them against a sample of historical data, allowing evaluation & validation of those rules. Skate. [/QUOTE]

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