People i know who use TA in crypto

people i know who use TA in crypto
>almost none if any education or experience in finance or economics
>same goes for technical understanding of crypto from a IT standpoint
>none of them ever read papers of coins

people i know who dont use TA in crypto
>gamblers, normies, investors (ill focus on them since the rest does not claim any knowledge of how markets work or make predictions)
>most of them atleast tried to get some knowledge in that field
>know the basic theories that exist in economics and finance
>their investments are based on technology
>when they day trade they know that markets cant be predicted and therefore just diversify and sell whatever is high / buy whatever is low
>dont target specific price lvls but rather move their stop loss up or just close the position all together

somehow it looks like that TA is just a retard magnet for people who think there is an easy quick way of making money without them having to invest time and effor to learn something.

they could just go into a casino and bet on black or red all the time. might give them x5 too just by chance

anyone who agrees. good but we dont need to circle jerk. im interested in those who dont agree with me.

why do you think it works?
why isnt everyone rich if it indeed works?

and so far all who wanted to show me how it works just cherrypicked their predictions and were like "look, just like i predicted it with head and shoulders knees and toes"

TA works, but like any tool in any field you'd be a fool to rely completely on it. obviously at the end of the day the markets are driven by one of the most unpredictable forces in our world (other humans) but TA can alleviate some of that randomness and at least help spot favorable conditions for a good buy.

i really doubt that. also just saying it works is a bit weak. you need some arguments ot data atleast

because if that would be the case. even if TA only adds 1% to your decisions begin right (just by chance they are 50/50) there would be no reason for you to not invest all the money you have and just let maths do its job

also if it works people will obviously use it since its absolutely childs play to just activate those indicators and act by them. but there is one problem. if everyone uses it. who is the one taking the other part of your trade? who will buy when you sell and vice versa?

another thing i personally tested on the bloomberg terminal (you can backtest stuff with past data) at my universits is that no technical indicator seems to outperform the market.

in other words all you do is ride the wave. if the market goes up. your balance goes up with TA too. not because of TA but because the market performs. in most cases TA makes you even perform worse than if you just buy and hold a diversified portfolio like f.e. nasdaq and dax

and my last point that makes it seem so weird is that all your analysis only works for a certain timeframe. if you set your timeframe to 2 weeks your fib levels tell you some value. if you change the timeframe it all looks completely different again. so where do you choose your start and end? it does not make any sense

well to answer your question: not everyone uses TA. there's gonna be huge hedge funds/whales that'll pump or sell something and trigger the price from their, going completely against what the price 'prediction' is. there are slews of people who don't use any form of analysis and just hold or try to get favorable trades on trends or "gut" instincts. hell even on the anniversary of black monday pretty much everything in my portfolio dropped for no foreseeable reason other than sensationalist news headlines, hence randomness in the market.

and I'm not sure we're even talking about the same thing here, cause i've never used or seen TA as the 100% mathematical function that you just plug in everywhere. sure i might be riding the wave, but all i use it for is help determine what is a good entry into the wave.

admittedly i'm only using the surface level techniques and i disregard it completely when trading crypto but that's my 2 cents on it.

TA has its place, it certainly isn't foolproof. No meme lines can replace things like research, timing, and to a certain extent "instinct," like being able to pick an entry/exit point and sticking to it. Not panic buying/selling, ect.
But hey this is /biz, so we throw all that shit out the window anyway and buy shitcoins with cool names based solely on tweets. We panic buy coins at the absolute ATH and then come on here and make shill threads.

>d I'm not sure we're even talking about the same thing here, cause i've never used or seen TA as the 100% mathematical function that you just plug in everywhere.
well moving average, bollinger bands and all taht are mathematical functions by which you can trade

>but all i use it for is help determine what is a good entry into the wave.
but why do you think TA outperforms just going in/out randomly?

where do you think it gains its upper hand to the 50/50 you have just by chance?

the only thing i think TA is good for is that it probably makes you trade with less emotion and therefore makes you lose less

>it certainly isn't foolproof
then why are most people who use it fools regarding to them being in the finance world without knowledge in finance?

>But hey this is /biz
damn right it is. i just think that i can reach a pretty good variety of people here. but most people dont care to respond to topics like that and rather shitpost in some ico threads

even if you dont believe in ta you should at least use macd and rsi to know when to buy the dip and sell ath in the absence of news
also ta is kind of self fulfilling prophecy - monkey see, monkey do
meme triangles work most of the time because everyone sees them - make a little breakout and voila, everybody jumps on the bandwagon

i know nobody whos predictions are true more often than they would be just by chance

i even checked the TA from cointelegraph. half their predictions were complete crap when you compare them to what actually happened

so i strongly disagree

also i buy and hold in a cold wallet. i dont need anything like that.

The MACD and %R are good indicators of when to buy or sell

>implying others don't know how to play monkeys when they can expect it to happen

yeah well thats easy to say looking at the past

allthough if you backtest TA, most of them contradict each other and none really outperforms the market in the long run. so which TA is the right one. and why does it seem that buy and hold just outperforms TA. why even put the effort in if all statistics say its not worth it?

thats just gambling and thats more fun in a casino with hot chicks

>self fulfilling prophecy

i believe this along with social media and the ability for any normie to play the crypto market makes for a new sort of TA rule, where if you see a certain number of crypto traders call the same things publicly and they have a certain amount of followers then, do the exact opposite.

TA is meme, don't fall for it

>also i buy and hold in a cold wallet. i dont need anything like that.
if you buy and hold indefinitely sure
cant afford that luxury

again... drawing things into graphs from the past is easy.

show us your tradehistory and that you traded those exact patterns and made huge bank.

i doubt you did. because you cant draw this shit before it had happened.

try again

>friends, the goyims figured out that moving averages don't work, what do we do?
>ahh, instead of showing two lines just subtract one from the other, they'll never know!

>head and shoulder knees and tows song playing in the kindergarden besides jews office
>"head and shoulders pattern it is!"

goyim is already plural

TA is very important for risk management

so is astrology and homeopathy

Meme triangles are memes.
(Stoch)RSI and Bollingers give you fairly reliable info about the smaller price movements. Parabolic SAR can help you analyze the direction the price will go after a bollinger squeeze.
For playing the bigger corrections, sometimes you need to realize a double top/head and shoulders accompanied by a drop and volume and gtfo.
If you actually believe this is all bullshit go on binance pro view and turn on some indicators on the one hour chart and see how easily you could have bought low and sold high if you followed them.

In reference to the LINK chart.

Why do the opposite? Wouldn’t it make sense to do it earlier and stay ahead of the curve.

thanks jew

Comes down to believe. If you believe that all (or the absolute majority) of market information is contained within past or current price behaviour then TA is for you. If you don't, then it isn't.

It's bullshit. It works because the big money who control the price also can see all of these basic indicators you talk about, but other times they just pull the rug right out from under you.

The charts kept saying bitcoin was due to go down and instead it kept creeping up 4k then slammed all the way to 6k. Shit just doesn't always work.

i don't care what you think or how you decide where you enter or exit the market. i'm a breakout trader with tight stops and most of the times the probabilities are on my side. i don't flip a coin to decide if i should long or short.

When you know there's a fork coming up that's one of the situations where you ignore what the charts say.

well if they all say X is due for a correction and everyone pulls their coins out because they fear losing a few points id consider that a buy signal. its happened before due to a few 'big name' crypto trading buffoons, who, i might add, seem smart enough to know exactly the effect theyre having all for the sake of twitter celebrity status.

...

>$1000
>24-04-2015

>see how easily you could have

I too have 20/20 hindsight.

we're still undervalued :^)

i love meme magic

sar is way too slow and bb unreliable, if you trade like this BTC you need atleast $1k stops, or trailing stops, which can fuck up your trades easily cuz one big corrective candle and you are out of the market, pick better indicators. stoch rsi is shit too, flatlines at ob/os way too often. you are better off with RSI on 4hr/D chart, but you never know where the turnaround happens.

OP why don't you post your last trading days like i did? or did you just got eternally BTFO faggot?

Never tried trading BTC/USD. But of course I would use less sensitive indicators and bigger intervals.

Deluded TAers

Fuck off pajeet

Learn to write English you come across as retarded

i don't trade shitcoins, manipulation is too easy there, which actually make TA even less reliable. BTC is manipulated too of course, but at 2 billion trading volume per day. you really need atleast 100 million dollars to influence it just a bit, not like $50k and your shitcoins moon like no tomorrow.