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Double Bottom Patterns

Double Bottom Patterns 45% Win Rate

Double Bottom Patterns 45% Win Rate

Double Bottom Patterns 45% Win Rate is the result of all the double bottoms trades from daily charts from January 2020 until March 2020.

The premise

After the head and shoulders patterns, inverted head and shoulders patterns and cup and handle patterns, it is now, the turn of the double bottom patterns to be analysed after the first trimester of 2020. The point is to analyse how everything worked in the first trimester. In this way I’ll know what do I have to change from now on to improve my results. Therefore, let’s see how the double bottom patterns look like in statistics.

What Double Bottom Patterns did we have?

EURHUF win +0.50% for a risk of 0.50% (It could’ve been +1.2% but I closed my trade earlier. You can read more about it inside the EURHUF article).

EURHUF loss -0.50% for a risk of 0.50%.

#JNJ loss -0.50% for a risk of 0.50%.

#NFLX loss -0.60% for a risk of 0.66%.

IBEX35 loss -0.50% for a risk of 0.50%.

USDRON win +0.50% for a risk of 0.50%.

WTI loss -0.60% for a risk of 0.60%.

GBPCAD win +1.50% for a risk of 0.80% (It could’ve been +2.4% but I closed my trade earlier. You can read more about it inside the GBPCAD article).

EURHUF win +1.00% for a risk of 0.50%.

#FB loss -0.01% for a risk of 0.80% (almost breakeven).

#MCD win +0.02% for a risk of 0.80% (almost breakeven).

How these statistics looks like?

We have 6 losing trades and 5 winning trades which means 45% win rate. Also we have a +3.52% gain for winning trades and a -2.71% loss for losing trades. Therefore, the net gain is +0.81%. Also, the risk reward ratio is 1:1 which is bad.

The conclusion

As you can see I made the same mistake over and over again. Therefore, I closed my trades earlier and I left money into the market. I could’ve made +2.1%. But, I decided to outsmart the market and I paid my price. Now, after this analysis, I decided that I will close my trades only if my trading rules tell me to do so. So, from now on, no more guesses. Also now, I invite you to read the statistics for Head and Shoulders Patterns 64% Win Rate, Inverted Head and Shoulders 71% Win Rate and Cup and Handle Patterns 17% Win Rate. I’m sure you’ll find a lot of interesting information inside.

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