When it comes to charting what indicators do you guys use mostly? Also does technical analysis of crypto give you an edge with short positions?
Additionally I am trying to actively grow my 2450.00 USD investment. Unfortunately I have been buying at lows that were not really a low point because I have been reading the charts wrong.
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Trend following on the long term chart and an oscillator on short term chart to find entry points
Moving Average is pretty useful for predicting swing movements. I use fibs and meme angles too.
Most of all I use my gut
Right on Ill check those out
Ya i see the meme triangles a lot but I dont know how to use them properly I guess
>Fibz - timeline and horizontal
>Stochiastics
>MACD
>Bollinger Bands
Technical Analysis is LITERALLY a meme. It doesn't work, it's fake. Academics and Wall Street experts have mathematically analyzed this extensively
THERE IS NO STATISTICALLY SIGNIFICANT CORRELATION BETWEEN ANY OF THE MAJOR OR EVEN OBSCURE TECHNICAL ANALYSIS INDICATORS, AND FUTURE PERFORMANCE
NONE, NONE AT ALL
Do you even understand math? You can do this math yourself. It won't work
You're idiots if you fall for TA
Do you have a background in mathematics?
I have a STEM background and a background working at proprietary trading firms in software. That is all I will say.
Nobody makes money using TA. You need PhD statisticians looking for subtle "54.7% chance of 0.35% profit opportunities" that only work for a couple months
There is no generalized algorithmic method to profit - that is what TA is. A generalized algorithmic method. "Calculate these indicators and react to them in this way". If everyone does them they stop working. The only methods are obscure and ones you have to discover and invent yourself before others know them.
Also, no professionals in finance will tell you this because guess what - finance companies make their money money on commission and fees. They WANT you to try these "strategies" and they want you to fail. They don't want you to profit.
>does technical analysis of crypto give you an edge with short positions?
How short are we talking? I can accurately predict what is going to moon in the next ~3 months.
Volume and RSI. If volume is high and the price is falling then the price will go down for a long term. If volume is high and the price rises then it will go up
So long as I know the generalized market direction I am pretty accurate at putting money down at the reversal. I set alerts for aggressive changes and profit riding the correctional waves up and down. I just resistance barriers for entry and exit. I use a few different tools for market direction.
you sound like a pretty smart lady. what are your thoughts on IOTA?
>IOTA
I have no thoughts
Invest in a market cap proportioned index fund of cryptocurrencies through dollar cost averaging to avoid the extreme volatility and avoid the psychological aspect of "going all in", and nothing more than you can afford to 100% lose
As a swing trader: MACD, EMA (price) on a daily chart. Less is more.
i feel like i read this last night. you've said this before. that's not how i want to make he shekels rain. next you're going to tell me to plant a garden. no. no!
You're a liar. Professionals DO consistently make money with TA. Educate yourself by reading "Traders at Work".
Also, the academic consensus on TA is that it does provide a (slight) advantage.
This is a completely false assumption from the get go. You can make money even if your TA gives you a 30% success rate, by simply minimising losses (use SL) and maxing gains.
This is a bad idea, crypto indicies have worse return than straight btc.
They're not using TA they're using what I described
No TA signals work, this has been extensively studied through historical data. Sorry you can't into math
I'm an engineer, trust me, I can "into math". What they do *is* TA.
No you cuck, they are using ***FA***
Anyway most traders don't beat the market in the longrun. Just for short streaks.
So you don't think the amount of buy or sell volume impacts price movement in ANY way?
Some of them DO work but only because, of human behaviour and the fact the most of the traders use some of the indicators to sell, buy.
>I have a STEM background and a background working at proprietary trading firms in software. That is all I will say.
So, that's a big no, you don't have a real background in mathematics.
>Nobody makes money using TA. You need PhD statisticians looking for subtle "54.7% chance of 0.35% profit opportunities" that only work for a couple months
I have a PhD in applied mathematics, and I'm telling you that you don't need a PhD in applied mathematics to profit from having an open mind about TA. You kind of sound like an idiot to me.
this is essentially what people are saying when they say the idiotically generalized statement that 'TA is a meme'.
Momentum Indicators generally base themselves on measuring changes in levels of buying or selling, or you can just look at the raw buy and sell volume data.
Volume is literally what causes prices to move.
Then go systematically beat the market in the longterm by a large margin please
How much are you up in the past 10 years?
FA = feels analysis
There are some good replies on quora re: thread.
quora.com
Good discussion there.
Fundamental is absolutely necessary, particularly for comparisons, and yet it always seems to be coming from the "fundamental analysis side" that TA is nonsense. That is completely false. If you try to swing or day trade completely basing everything on fundamentals, you're going to get fucked up. Fundamental analysis and macroeconomcs gives you the overall parameters, but you must look at volume/momentum and moving averages (and perhaps other trading range indicators, like b-bands), when trading.
use the indicator that makes the most sense to you personally. try a bunch of the popular ones and see which are helpful to you. fibs and macd are completely useless to me but stochastic is helpful, and the moment i put the 200 and 50 emas up on my charts i became profitable. just find a couple that make sense to you, dont go cluttering your chart with lots of different ones.
>f everyone does them they stop working
This. Retards think literally everyone can use TA and everyone will get rich. It's not how the system works.
Agree. Fundamentals are ever important and I don't any professional trader can function without them.
I really enjoy math, but quant is out my league. No wonder trading desks have departments of Phd's assessing and retesting 24/7.
The same desks, however, need to cut through a lot of tape before entering/exiting positions and this where TA comes into play. We can scurry our fishing boats much faster than they can turn their oil tankers, so to say.
MA's, volume, trend lines have helped me a lot when i make calls (both long and short). Either i am extremely or TA has a place when navigating the markets. Personal experience is that it does.