FXSCALPER2
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It's not the pattern that 'works', it's what the trader does with it and the principles that create it in the first place. Those principles will continue to work, because they are created by trader behaviour, not because there are a great number of people focusing on that pattern.
There's a chance you might have a different definition of pattern than I have. So perhaps you could give an example of what is a pattern and what is not, to make sure that we are talking about the same thing.
Anything that you can find in a book like Bukowski's (?). H%S, flags, pennants, etc. Some of these definitely make you money but the skill is in knowing when to use what.
Show someone a flag and they will be trading it all the time without knowing what the hell is going on in the markets. They would lose and then go to trading MA crossovers which would work for a bit and they lose and then they go to trading double tops and make money without knowing what the hell is going on and then they lose... You get the point. The skillful trader knows what to do when and knows that there is no permanent edge. He has the skills to aquire the knowledge neccessary to adapt to what is happening now. He is the one that will be around for years.
This game is not about some edge present in the markets, which is what I was trying to demonstrate with my casino exmaple. The casino owner doesn't even have to think about the probability on his table: it is fixed. The trader, on the other hand, has to be able to duck and dive, adapt, be aware of what is going on, look to see what to do today, as opposed to what happened yesterday. If you have a permanent edge, you are like the casino owner. You turn on the lights and off you go.