Those Cookie Cutter Patterns

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I will make this clear again when you begin listening to this podcast but in case you’re wondering what direction this is going to take or what exactly cookie-cutter patterns are (if you been trading a while you probably know, if not you may not) this podcast will be a scathing ridicule of anyone who thinks are going to make money from cookie-cutter patterns.

The term cookie-cutter patterns is one that I use a lot. Don’t think I invented it, but it’s a term used for those cliché chart patterns that people refer to, and the inexperienced trader thinks this is the way to make money. Unfortunately, these patterns give a bad name to technical analysis because they do not represent what a good technician does, certainly not what I do. They are a shortcut attempt to find the riches without doing the work. It is one of those examples of traders looking for the Holy Grail only to be disappointed and once again feel that nothing works in the market.