Developing & Implementing Pattern-Based Trading Systems by Tushar S.Chande

Developing & Implementing Pattern-Based Trading Systems by Tushar S.Chande

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Forex Trading – Foreign Exchange Course

You want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

Most traders, even those who are relatively new to technical analysis, realize that good, sustainable trading patterns which can be effectively back-tested are extremely rare. For example, most of the candlestick patterns do not test well on historical data. Tushar discusses how to develop, test, and implement pattern-based trading systems so that they become effective trading tools. Tushar describes a bottom-fishing pattern for S&P 500 futures. For stock traders, Tushar shows you a variant of the bottom-fishing pattern that works with uncanny precision. This pattern is an example of how one can take a visual observation and convert it into a dependable trading approach. Those who trade indices, equities, or futures will benefit from many of Tushar’s concepts. He shows how different exit strategies can produce very different system performances, and looks “under the hood” of various strategies, thus taking his analysis beyond the usual performance summary.

In this session, Tushar also examines another patern called Channel-Breakout and Pullback (or CB-PB). He shows you how you can easily adapt this pattern to suit your trading preferences for a variety of tradable items. Finally, Tushar rounds out the discussion with the Gold/Bond system, an intermarket approach for trading the bond market. This system is an example of how traders can use a related market to develop information about the “environment” for a trade.

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