Identifying a trading pattern

Finding a pattern to trade is not hard but knowing that what you are trading is actually profitable over the long run is. Besides finding the pattern, it needs to be tested over various markets, then it needs to be tested live, and finally, you can start trading (initially with a small amount, which increases as you become confident in the technique).

Figure 7.2 – Identifying a trading pattern

YouTube/Twitter/Telegram/Discord/TradingView and other social channels

You can get a pattern by watching YouTubers that do exactly this, develop and test patterns over numerous trades. Please make sure you test these patterns carefully as influencers are pressured by their business model to come up with new content. When one shows you new strategies every week, you can be sure they didn’t test them properly.

Twitter is another good source for strategies as it’s focused a bit more on content than on influencers...