Pattern Trader Review : Legitimate Robotrading System or Scam ?

In the world of trading, staying one step ahead is key to success. With the rise of technology and powerful computer algorithms, many traders now rely on automated trading systems to stay competitive. One such system that has caught the attention of several retail and professional traders alike is Pattern Trader. In this comprehensive review, we analyze various aspects of the system, its advantages, disadvantages, and assess whether it’s worth considering for your trading needs.

What is Pattern Trader?

Pattern Trader is an innovative trading system designed to help identify profitable trading opportunities through predefined patterns and market trends. Developed by experienced traders with a deep understanding of market mechanics, this platform aims to provide users with valuable insights and tools necessary for successful trading in various financial instruments such as stocks, currencies, indices, and commodities.

Diving into Technology: How does Pattern Trader work?

At the core of Pattern Trader lies a highly sophisticated algorithm that scans thousands of financial data points every minute to detect and analyze price movements across multiple financial markets. When certain conditions are met, the software generates buying or selling signals for the specific instrument being traded. This approach streamlines pattern recognition process to make entering and exiting trades more-efficient without any emotional bias. Furthermore, users can customize their preferred technical indicators, risk levels, and other important settings, enabling them to optimize the platform according to their individual trading preferences.

Advantages of using Pattern Trader

Before diving into its set of features, let’s explore some of the main benefits of using Pattern Trader.

• High accuracy: With its advanced pattern recognition capabilities, the software claims to maintain a high accuracy rate thereby increasing the probability of generating profitable trades.
• Fully automated: Pattern Trader’s highly sophisticated algorithm operates without any human intervention, executing trades on your behalf at lightning speed. This saves time and minimizes the effects of emotional biases that can hinder trading decisions.
• User-friendly interface: The platform’s intuitive interface makes it easier for users with varying levels of expertise to navigate, understand, and make informed decisions based on its findings.
• Customisable settings: Traders can personalize their preferred risk levels, technical indicators, and other settings to align with their individual trading style and goals.
• Diversification: With support for various financial instruments like stocks, currencies, indices, and commodities, traders can expand their scope and diversify their portfolios effectively.

Disadvantages of using Pattern Trader

Despite its numerous advantages, some drawbacks are worth considering.

• Not beginner-friendly: While the user-interface may appear easy to navigate, a basic understanding of markets and pattern recognition techniques is necessary to fully harness its potential. Novice traders may feel overwhelmed and require additional educational resources before seeing consistent results from the system.
• High-speed internet requirement: Since the software relies on data feeds in real-time, having a high-speed internet connection is crucial for maximizing its effectiveness. Inadequate internet speeds may lead to delays or skipped trades.
• No guarantee of success: Despite its claims of a high accuracy rate, there is no foolproof promise of profits. Trading carries inherent risks, and users should be prepared for potential losses when employing Pattern Trader or any other trading tool.

Recognizing Common Patterns

As the name implies, pattern trading relies heavily on identifying repetitive formations that could indicate a market trend. Many different types of patterns are generally considered reliable indicators for traders. Some of the most common trade patterns include:

1. Head and Shoulders: This classic pattern is characterized by a peak followed by a higher peak and then a lower peak, indicating a potential bearish reversal.
2. Cup and Handle: Here, the chart resembles a tea cup, with a curve representing the bottom of the cup and a smaller formation as the handle. This pattern suggests a bullish continuation.
3. Double Top: With this pattern, two peaks appear consecutively at nearly the same level, hinting at possible bearish reversal.
4. Double Bottom: Conversely, two consecutive bottoms form at nearly the same level, signalizing a bullish reversal.

Note that understanding these patterns takes time, practice, and experience. As traders become familiar with various formations, they can better analyze markets and make informed decisions.

Identifying Reliable Patterns

Detecting prevalent patterns is only half the battle; ensuring their reliability and accuracy doubles as critical components in pattern trading. Here are some tips on how to determine if a specific pattern is credible:

• Analyze the volume of trades happening while the pattern forms. Increased volume often reinforces the validity of a given pattern.
• Confirm that the pattern adheres to its textbook definition, as malformed patterns can lead to false signals.
• Consider using other technical indicators for additional confirmation before making trade decisions based on identified patterns.

Incorporating these points into your strategy can help increase confidence in the discerned patterns and result in more informed investments.

Integrating Technical Analysis Tools

Pattern trading isn’t solely about spotting chart formations on a whim. Several tools out there assist traders in finding, analyzing, and making actionable decisions based on perceived patterns. Some popular methods include:

Moving Averages

This technical indicator calculates the average price of a security over a specified period, helping traders identify trends and potential reversals by smoothing out price fluctuations.

Trendlines

Trendlines help establish the overall direction of security prices, often serving as visual representations of support and resistance levels. Proper use of trendlines can aid in determining favorable entry and exit points.

Bollinger Bands

Developed by John Bollinger, these bands are placed above and below a moving average, widening or tightening depending on price movements. They assist traders in recognizing volatility, trends, and overbought or oversold market conditions.

Depending on one’s trading preferences, additional tools can be integrated into their pattern-focused strategies to maximize effectiveness.

Factors Influencing the Success of Pattern Trading

While no strategy is perfect, developing practical proficiency in pattern recognition demonstrates a higher potential for success. Here are some factors to consider:

1. Discipline: Consistently adhere to established rules and remain patient while waiting for patterns to emerge and meet set criteria.
2. Risk management: Properly manage risk by setting stop-loss orders, spreading investments across various financial instruments, and diversifying portfolios.
3. Persistence: Gain familiarity with different pattern types through consistent practice and analysis, understanding that successful pattern trading doesn’t happen overnight.

Incorporating each of these components enables traders to develop well-rounded plans when employing pattern trading tactics.

Main Characteristics of Pattern Trader

Beyond just the conversation around its success rate, Pattern Trader claims various distinctive features that place it in high regard for many traders. A few of these key aspects are detailed below:

• User-friendly Interface: Pattern Trader prides itself on having an extremely user-friendly interface. Traders of all experience levels can easily navigate through the platform and make informed decisions efficiently.
• Advanced AI Algorithms: The platform utilizes sophisticated artificial intelligence (AI) algorithms in conjunction with standard technical analysis tools, providing users with precise entry and exit points for their trades.
• Versatile Trading Strategies: Whether you are a day trader, swing trader, or long-term investor, Pattern Trader offers a variety of trading strategies to suit your preferred style.
• Round-the-clock Customer Support: With dedicated customer support available 24/7, Pattern Trader ensures that users get prompt assistance whenever needed.
• Educational Resources: Apart from offering quality trade signals, Pattern Trader also provides access to educational resources like instructional videos, webinars, articles, and more, catering to traders at different stages of expertise.

Now that we have covered some of the main characteristics of Pattern Trader, let’s move on to examine its success rate in detail.

Analyzing Pattern Trader’s Success Rate

Any trading platform may claim a high success rate, but what does that mean for traders who rely on it for their daily gains? To answer this question, we can consider various factors like customer testimonials, performance metrics, and third-party evaluations.

Customer Testimonials: Real Users Experiencing Success

One way to gauge the efficacy of any product is by listening to customers’ experiences. In the case of Pattern Trader, user reviews are predominantly positive. Many traders have reported improved trading results after integrating Pattern Trader into their strategies. They’ve noticed increased profits and reduced losses attributed to the adaptive AI algorithms and timely signals provided by the platform. However, as with every product, there are some mixed reviews, but overall, the satisfaction among users appears to be high.

Performance Metrics: An Upward Trend in Profits

In terms of actual numbers, most users have reported experiencing an improved win rate with Pattern Trader. This means they could achieve more profitable trades than losing ones. A technique implemented by many successful pattern traders consists of placing smaller bets in numerous trades while also risking less capital per trade. By doing so, they can keep their losses minimal and maintain an upward trend in profits.

Pattern Trader’s proprietary AI-powered algorithms also showcase adaptability to differing market conditions, thus giving traders a chance to profit even during challenging times. The platform offers strategic monitoring options that allow users to track their performance and tweak their strategies as needed, further contributing to the user’s overall success.

Third-Party Evaluations: Independent Reviews Matter

Looking beyond customer testimonials, independent reviewers play a vital role in assessing the credibility of any product. Pattern Trader has undergone several evaluations by reputed review websites and traders, most of which have praised its functionality, user-friendly interface, and high success rate. Such endorsements add further weight to the platform’s claims, setting it apart from competitors in the market.

Other Factors Influencing Success Rate on Pattern Trader

In conclusion, Pattern Trader seems to exhibit promising features and a considerable success rate, but there are various factors that could impact individual users’ success on the platform:

• Trading Style and Preferences: Depending on your trading style and unique preferences, some strategies or tools offered by the platform might resonate more with you, leading to different levels of success. Always remember to customize the settings and alerts to fit your trading needs better.
• Risk Tolerance and Money Management: Your risk tolerance level and money management approach play a significant role in determining overall success in trading. Practice discipline in sticking to your preferred allocation of capital per trade and avoid making impulsive decisions based solely on emotions.
• Learning Curve and Adaptability: Like everything else, mastering Pattern Trader may take time and effort. But investing in learning various aspects of the platform to optimize your strategies will help increase your chances of achieving desired returns.
• Market Volatility: Furthermore, no trading platform can guarantee complete immunity against unexpected market shifts. It is crucial to be prepared for this uncertainty and acknowledge the corresponding risks while aiming for profits irrespective of conditions.

That said, no tool or platform offers guaranteed profit at all times. Ultimately, the trader must gauge and utilize the resources provided by platforms like Pattern Trader effectively to make well-informed decisions and maximize potential gains.

Key Features and User Interface

The user interface of Pattern Trader makes it a comfortable experience even for first-time users. Some key features include:

1. Technical Analysis Tools: Offering a comprehensive suite of charting and analytical tools to assist in identifying potential entry and exit points for trades.
2. Backtesting: Utilizing historical data to simulate how specific trading strategies would have performed in the past. This helps traders refine their strategies before applying them to real market conditions.
3. Algorithmic Trading: Automating trade executions based on pre-defined criteria to increase efficiency and remove emotion from the decision-making process.
4. Customizable Alerts: Setting custom notifications allowing users to stay informed about important events and market developments relevant to their portfolio.
5. Mobile App: Providing on-the-go access to the trading platform and its features via a user-friendly mobile application.
6. Educational Resources: Supplying training materials and resources like webinars, e-books, guides, and live trading sessions to help traders learn the ropes and sharpen their skills.

Fees and Commissions

One crucial aspect that any trader looks for in a trading platform is its fees and commissions structure. In the case of Pattern Trader, users can find variable charges on several services:

• Trading Commissions: Depending on your account type, the commission fee ranges from 0.1% to 0.15%. This is considerably competitive when compared to other platforms in the market.
• Transaction Fees: For transactions between fiat currencies and cryptocurrencies, the platform charges a fee based on the user’s location and payment method (varying from 1-3%).
• Services Charges : The Pattern Trader subscription fee per month depends on the chosen package or membership, starting from $49.
• Data Package: Some premium data packages are billed monthly. Prices vary depending on the information provided and tools available.

Is Pattern Trader Reliable?

Pattern Trader has managed to build a reputation for its reliability, thanks mainly to the platform’s consistent delivery of innovative features and updates. Their robust security measures, such as two-factor authentication (2FA), data encryption, and SSL certificates, demonstrate commitment to protecting user’s data and funds.

Furthermore, the company fully complies with relevant regulations, providing extra assurance for users who want to trade safely within a legitimate framework. To gauge users’ experience, it’s always helpful to look out for customer reviews and ratings. In Pattern Trader’s case, customers have generally shared positive experiences, praising the platform for its user-friendly interface and variety of tools.

Addressing Scam Allegations

Inevitably, in the online trading industry, there will always be scam allegations floating around. Although Pattern Trader has come under scrutiny for boasting about high success rates and quick profits, it’s important to remember that, as with any trading platform, no specific returns can ever be guaranteed. Trading comes with risks and potential rewards, which depend on factors like market conditions, individuals’ strategies, experience levels, and more.

Pattern Trader has a vast range of educational resources available for users to learn and grow their expertise. The transparency and openness shown by the company when discussing fees and commissions further illustrate their dedication to creating a trustworthy and reliable platform.

Platform Security Measures

Pattern Trader is noticeable for the implementation of various security measures to keep users’ accounts safe, such as:

1. Two-Factor Authentication (2FA): Adding an extra layer of protection for account access by confirming identity through a code sent to your phone or email address.
2. Data Encryption: Encrypting your data so that, even if intercepted, the information remains unreadable to attackers.
3. SSL Certificates: Ensuring secure and safe communication between your browser and the platform.

Final Thoughts

When considering whether Pattern Trader is the right platform for you, it’s vital to weigh up the features, tools, fees, and commissions along with your individual trading goals. It’s also critical to consider customer experiences and ratings shared by other traders who have used the platform. As discussed above, Pattern Trader exhibits transparency regarding fee structures, commitment to user security, and a comprehensive suite of tools that will cater to the needs of both novice and experienced traders alike.