The "daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online

Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to answer the question, “What is a chart pattern trader?” A chart pattern trader or technicians sometimes as they’re called are people who trade solely based off of the chart patterns that they see on a particular stock or underlying security. Things like head and shoulders and rising wedge, flags, pennants, cup and handles are some of the common terminology that you’ll hear when you run across somebody who ends up being a chart pattern trader. I like to think of myself as being started as a chart pattern trader and I quickly evolved into understanding that many of the chart patterns or chart readings are very subjective in nature. Now, this isn't to say that there aren't people who do this and do this really well. Particularly, what comes to mind is guys like Peter Brandt which have actually made a career of being chart pattern traders and do very well at it. I just never actually gained enough skil