What are trading patterns, how do they work and are they real?

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I don’t get if those patterns are real and what stop, entry and targets mean. Is it a reliable source? I give you an example: https://www.ig.com/en/trading-strategies/10-chart-patterns-every-trader-needs-to-know-190514

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Anonymous 0 Comments

It’s generally not reliable no. And many countries force people to make disclaimers: “past performance is no predictor for future performance” when advertising stocks like that.

They say there is a general pattern of trade value going up and down in a certain cycle. That may be true for a while, but you never know when the pattern stops.

Stock trading is always a competition against other traders. If a pattern is well known then it’s not valuable, because others will try to follow it as well and ruin it. You can only profit reliably if you know more than the other traders (and the traders happen to involve professional hedgefunds that do nothing but analyzing all day)

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