Technical Analysis

>Is TA dark magic, unfounded BS, a reliable tool, or a self fulfilling prophecy?

The Medallion Fund has made a fortune doing technical analysis.

But they got into it long ago and have the top mathematicians in the country working there.

If you can't tell me off the top of your head what the derivative of x squared is, don't even think about it (and that would be just the first interview question to get rid of those who are really disqualified).

Depends. Percentage correct on their own mean very little. I've seen people be right 90+ percent of the time, yet they are still negative. Why? Because during those 90 out of 100 times, they make a dollar, but the 10 out of 100 that they lose, they end up losing 10 dollars. Overall they have a negative return rate that will bleed them dry over time.

it's bit on the low end of what I'd feel comfortable with trading... which indicator were you thinking about again?

it's just playing odds.

why would I need to be able to answer that?
you can just click a button and the chart shows whatever indicator you want to see... for anything else there's spreadsheets, calculators and scripts

For what I am doing, I rely on my own indicators.

how can they lose 10 dollars when their stop/loss should be 1 dollar below their entry?
or maybe you're talking about gamblers?

ffs, who do you think writes that software?

Well I don't work with stocks, but options, so you can have it where things gap down significantly below your stop loss.

So, if I told you that with 95% certainty a certain stock will rise (or drop) 4% in 10 days, you couldn't find a good use for that data?

Just bullshit. Remember the "helpful" guy who posted this yesterday and convinced a lot of people to sell? Well it broke his meme "fib level" like 5 times and he said the downtrend will continue but instead it went up by 200 dollars.

I don't know but that cup and handle formation on DGB fucking worked.

But I thought TA was bullshit so I didn't listen.
>inb4 hindsight

people like me :^)
but my point was that there are enough free resources out there to be successful at trading
you dont need a full staff of mathematicians for that.. maybe if you want to squeeze out that extra 0.001% ROI because you're trading sums for which it actually matters...

that answer wasn't meant to be taken seriously mate

How many whales are trading based on the assumption everyone else is trading according to TA?
>more than 7.

>derivative of x squared
How does it prove anything? It's fucking 2x and last time I took a math class was 8 years ago. At least ask something beyond high school tier.

>If you can't tell me off the top of your head what the derivative of x^2 is, don't even think about it

user..

And me, but I'm a mathematician first. I agree about the availability of resources. But you are wrong about the ROI difference. It depends on how you trade. I make a lot of short to short-intermediate term trades of a size that squeezing out that extra $0.25/share is important.

My bad.

check sia, faggot

reddit double nigger "detected"

TA as in Tits and Ass?

Can one of you TA fanboys address my point?

Technicals are used to figure out where areas of supply and demand are. This can be very useful in finding where to open and close a trade for maximum profit. However this only works if enough other people see/do the same thing you do.

They are not magical lines in the sand that stop prices. Real trades come from price action

>reliable tool
As long as you pick the right stock.

You fags understand that if btc goes down so does every memecoing, right?

I guess I'm investing in ETH then

There seems to be no point. You've already made up your mind. Why waste my time arguing with you? I'll keep doing what I am doing because it works and has worked for a long, long time. You can keep doing whatever it is you do and it harms me not even a little bit. In fact, I'm even tempted to tell you to fuck off, we're full.

you don't have a point. You just spouted words out.

TA works because whales manipulate the market according to TA. The cryptomarket is extremely new, it won't be as predictable as it is now forever.

ETH took a shit too. It was lucky and revived by the news about China.

Nothing is safe, retard.

fucking retarded shit, just because you made a drawing by connecting the stars in the sky, doesn't mean they are trying to send you a message.

tfw you have no idea how TA works nor have you ever tried to learn any of it and still rage against it

You just have to be wrong ten times is all, and that's easy with TA!
Which is why all the best traders go through the whole process with strong detail oriented attention and only use TA as a sign of when to enter/exit the market.
It's there for psychological reasons. From all that I've read, psychology is almost entirely what trading is.
Actually no, because I don't know by how much. If it rose 1 cent and had a 5% chance to drop a dollar, it would still be a terrible trade.

>Actually no, because I don't know by how much. If it rose 1 cent and had a 5% chance to drop a dollar, it would still be a terrible trade.

You're not getting it. I told you by how much. 95% probability of a 4% percent increase in 10 trading days. This implies a 5% probability that the stock price will not rise by 4%. If you think that's a bad trade you are an idiot.

What's ta

And continuing, I would love to play poker with you.

Technical analysis. Drawing lines between arbitrary points to try and predict price action.

Oh I see. Thanks user

I haven't made up my mind about TA necessarily, I'm open to persuasion. I'm just confused because I read about it and it seems respected by some intelligent people, but I'm an accounting student and one thing we learnt was that TA assumes no efficiency in markets, now the efficiency of western markets is usually thought to be semi strong or occasionally weak but everyone agrees they are somewhat efficient. So do TA people disregard the efficient market hypothesis? Or do they believe markets are completely inefficient?

the meme lines win again

the next buy zone is at the 2150 area that it tested twice most recently

if it goes through that it will bounce off the next downtrend line potentially

TA has been around for literally forever at this point. People were 'watching the tape' and looking for patterns 75+ years before anyone on this board existed. It does work, but it's not a 100% foolproof thing; more a guideline that other assumptions the trader is making either are or are not in play. Combine that with bots which trade based on similar patterns, and yeah, it kind of works.

Traditional TA is a bit weird with cryptos though; It acts as some hybrid between Forex and Stocks in my experience. You'll have times where you're *absolutely* sure about chart patterns and the market will do the complete opposite as well. Since everything is so unregulated it's the wild west; and like the real wild west some strike it rich and others go home ragged

which software should i use for this

any free options?

cryptowat.ch

tradingview.com