Does anyone have any helpful charts and info graphics for the basics of trading and to do things like reading chart...

Technical analysis is bullshit. I know all the signals and confirmations and consistently the next day something random will occur to price action of a stock that doesn't align with the signal. Its all bs dude. Stock market is roulette

This.

As hard as it might be to admit, derivatives and graphs aren't crystal balls. If it gives you peace of mind, by all means study patterns, but don't expect them to make you wealthy.

Bullshit. Spoken like a person who knows nothing about what he is talking about

>Technical analysis is bullshit.
Mostly right. General understanding can help.
>Stock market is roulette
Wrong. You can find an edge.

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Its not about finding an edge. Its about understanding one thing. That the market is moved and directed by the big institutional players. Once you understand this then you do not go after an 'edge' rather you seek to identify when these entities are acting or going to act and catch a ride with them.

TA is not bullshit - it is the KEY to making this work.

Understand THIS reality and you will be better placed to be a half-decent trader.

Thanks, may try that.

Hey, to all those who say TA is bullshit, doesn't it have some kind of self-fulfilling prophecy though, because if a substantial amount of active traders are using the same TA patterns to interpret the stock's movements and make their decisions based off that -- independent of one another -- isn't that going to influence the future movements of the market?

> That the market is moved and directed by the big institutional players.
This is why crypto is currently better. I used to trade stocks, but crypto is ripe as fuck.

This is probably the most redpilled thing that I don't think enough people ask themselves. Do the pattern formations and indicators actually show anything of meaning, or do they just all cause self-fulfilling prophecies?

Do you not think there are big players on the crypto scene as well?

Not really. Not sophisticated ones like in the stock market, who rely heavily on automated trading systems. There is big money in crypto, but it is less manipulated. People try to manipulate, but you can see the signs from a mile away so it's easy to avoid traps.

Stock market has high frequency trading and machine learning algorithms and all this other bullshit.

try this one OP

Those patterns are worthless. All you need to understand is the underlying principle of support and resistance which creates those patterns.

Also, don't use stops if you are trading crypto. There's not enough liquidity and you may get screwed when the market order triggers.

I find it hard top accept this. Speaking from experience with BTC 4-5 years ago, market manipulation was accepted and widely known about. I dont know what BTC is like these days as I have nothing to do with coins at all.
I can't believe that there are not players with enough "financial" clout to direct the markets of these newer cryptos. I mean, why wouldn't they be involved?

They sure do. But this does not mean for a moment that a savvy day or swing trader cannot be part of the action that these things generate (remembering of course that they are ultimately controlled by people).

Now we are getting somewhere.

Ok, fine, give me a diagram that conveys it in visual form you insufferable fag

Just watch charts in live trading sessions. Pay most attention to Level 2 charts. Level 2 will show you where support and resistance will likely occur.

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As more buyers come in, this support level will rise, which could creates something like a wedge or flag or triangle pattern, depending on where resistance is.

>Support and resistance

N00b here, I've not come across this before.

Do you mean watch the buy and sell order window to look for big spenders at certain price points?

e.g. a giant sell wall at 1001 that keeps the price at 1000?

As the support and resistance converge, there is nowhere to go, it will either break up or down. Trend may give some indication of which direction, but it isn't a certainty.

Exactly, the walls are just another name for support (buy wall) and resistance (sell wall). Looking at the price chart for this information is delayed, by looking at level 2 you can get up-to-date info.

These triangle charts and candlestick patterns are meaningless without a scalebar

Are they 5 minute candles? or 5 hour candles?

Plotting a graph without annotating the X-Y axis is kindergarten tier mathematics

Those patterns form at all scales, and often within each at different scales. There are metapatterns within metapatterns, ad infinitum. This is why patterns are bullshit. It's better to take a step back for a wide-view of how the market is moving.

At that point it's a lottery?

Kind of. You can look at the overall trend, the smaller timeframe trend, and the behavior of other related coins for a good guess of which direction it will go. But you can easily be wrong, which is why you can't be scared to take a loss (before it gets out of hand).

Sorry I'm limiting this example to crypto. But it also works with stocks.

It works especially well with crpyto because some coins are very closely related to each other and high correlated in price movement. Can gauge direction by looking at the "sympathy coin".

Fuck... first time I've gotten slightly drunk and posted on this board. I'm spilling my strategy.

It doesn't matter, take the phenomenological approach: stop thinking about the ontological question (what is the essence/nature of X), think of the consequences (phenomena) that it generates. If it works, it works, regardless of it's truth value.

This guy gets it. You need to make your own analysis from the charts based on where support kicks in and where resistance is at. Calculate your stops based on what you can lose if it goes bonkers. It's a fine mixture between technical and fundamental analysis along with patience and nerves of steel.

At least that works for me as a fx cfd trader

Makes sense to me. There are many factors at play that need to be taken into account (uncertainty and randomness are some, the dirty bastards). Only experience will allow you weave them together to make good plays.

this doesn't apply to btc tho right?

Eh, when you are trading any coin, you are pretty much trading BTC as well, since it is part of the trading pair.

Do not hold emotions on yourself that *this specific pattern will happen.

But if NEET spend 2 months watching daily minute charts full screen heiken-ashi only, then viewing it on other time frames

My favorite thing to do, is consider a segment a behavior, and after this pattern finishes, try to consider the next new start, a new behavior. Also I think Lucci said it, the market is going to get where its going get at, but with HFT/retail it'll only be more distorted reaching there. So just fullscreen heiken-ashi 1 minute chart until

1minute charts actually say the least. Grab a daily or 4h chart and make 5 calculated trades a day.

That's why maybe watch 3-4 at the same time. You pick up on meaningless rallies and weak supports. Head and shoulders can form on tick charts and over months, so you'll see patterns

it's not.
It might be a self-fulfilling prophecy, because traders look out for these patterns and then buy/sell depending on where they expect it to go, but it's not bullshit
ETH mooning now is a good example, it was a pretty perfect example of a symmetrical triangle that broke upwards

This really is idiot-tier analysis. If you are looking for patterns in data, why not use an appropriate machine learning algorithm? It is something at which they excel.

I never understand people who say that TA is bs. I mean look at any random chart, and I don't mean crypto but stocks for example.

How is it that there are clear trendlines to be found and tops or bottoms magically align or are at rounded numbers.

It's very clear to me that TA is simply a form of mass psychology and if you want to deny even though there is a shitton of evidence it's kinda weird isn't it user?

I am not saying that TA is always right and that it is able to predict stock shocks or smth similar. I am just saying that you can definitely use it as an extra tool.

investopedia

can you use think or swim without having a td ameritrade account?

no what i am saying is
when you truly understand stock valuation fundamentals you wont need a chart

People have all sorts of strange ideas about markets, you get alot of people who insist markets are efficient and you can't make money trading.

I think some people maybe excel at theory but lack the ability to actually analyze reality.

Obviously TA has merit, support and resistance undoubtedly exist, and a head a shoulders pattern predicts a trend change over 80% of the time.

It's because people hear stock and still fucking think of holding 5+ years or holding over a day. What I find really bullshit is triangles or just fucking shapes. Charts are just a supplement, not every move has meaning, that's some shizophrenic

this.
by understanding fundamentals youre hopefully buying when there's hardly any activity and no patterns in the charts.
Then you just wait for other people to realize that its a great thing to own and start buying in, and then it starts moving.
The best investors are in way before everyone else, but thats what makes it so hard is finding which buys those are that arent discovered yet