Most trading strategies are built to find repeatable patterns in the market and then attempt to exploit any future occurrences of the pattern to make a profit.
There are lots of different ways to find patterns, and in this episode Brent Penfold talks to us about patterns in price action.
Brent is a full time trader, author, educator and licensed Futures Advisor, and in our chat you will learn:
- Why it can be better to focus primarily on price instead of a collection of indicators,
- How to identify patterns in price action,
- The dangers of trading stocks and why Futures are a superior trading instrument for active traders,
- How a ‘universal dataset’ can lessen the risk of datamining,
- How to blend individual systems into a portfolio to produce smooth equity curves.
PLUS, we announce the lucky winner of the Better System Trader ‘Super-package’ giveaway, worth almost $20,000!
Resources mentioned in this episode
- You can learn more about Brent at indextrader.com.au
- Books mentioned:
Want to learn how to trade global indices from Brent Penfold?
If you want to learn how Brent trades global markets using his idx24 model, check out his workshop here.
Note: it’s being held in Sydney, Australia but there is a video conferencing option if you’re unable to travel to Sydney for the event.
Update (19/6) – I’ve just heard from Brent that his video conferencing solution has a limited number of participants and all slots have now been filled, however I may be able to organise additional access for BST listeners if we need to. If you’re thinking of attending by video conference, email me asap and I’ll let you know what we can do.
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18 June 2017