IS TA VIABLE FOR CRYPTO?

OK Veeky Forums, so this is one of the most important subjects we have to settle down once and for all

Does TA work for crypto? can you justify trades based on TA alone?

Or is it just meme lines?

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en.wikipedia.org/wiki/Apophenia
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This is asked here a stupid amount of times. And you get highly opinionated bringing up stupid points. You have to try things out for yourself, while being objective. Find a system/combination of systems that work for you. Win big, lose small.

* highly opinionated people

Here's two months of BTC. My super complicated and unreadable TA.

I use MACD, RSI and the Michio Kaku cloud. werks4me

...

TA is modern day rain dancing. Dumb money does it and the market happens to go in the right direction sometimes so they call it a science.

I always regarded TA as meme lines but I've never proved it and I know I can be wrong

I'm still not sure... this topic is bugles my mind

The fact is that the more people believe in the validity of meme lines, the more power TA has in actually being a good predictor.

But quite often you get a bunch of whalefags who decide to go against the "rules", as we saw just recently with the ATH right after a head and shoulders.

what % of traders base trades on TA?
wow this might be it guys...

the answer is "maybe" and "sometimes"

Let me blackpill you on TA, from someone with an actual degree in finance and banking.

In the real world of investment, fucking nobody uses TA to trade. In fact, most bankers and investors will laugh at you if you tell them you trade based on TA. The reason is that TA is nothing more than a self-fulfilling prophecy. Everyone is trained to recognize the same patterns, which means everyone tells other people about the patterns and buys/sells based on those patterns, causing a shift in price. People who run TA groups will manipulate charts by changing the time period in order to see if they'll fit into a certain pattern, then they'll pass that information on to other people, who will pass it on to other people ad infinitum. TA is the ultimate pyramid scheme. Smart traders just use Fundamental Analysis, which is a far more accurate prediction of a stock's potential value vs it's actual value

No it doesn''t work.

Look up logical fallacy: Apophenia

"Apophenia (/æpoʊˈfiːniə/) is the tendency to attribute meaning to perceived connections or patterns between seemingly unrelated things.[1] Confirmation bias is a variation of apophenia."

en.wikipedia.org/wiki/Apophenia

Bots works with TA, bots make money.

Whales use TA, bots use TA. The average pajeet doesn't.

"In statistics and machine learning, apophenia is an example of what is known as overfitting. Overfitting occurs when a statistical model fits the noise rather than the signal. The model overfits the particular data or observations rather than fitting a generalizable pattern in a general population."

Still retarded and fallacy

so how do bots actually make positive returns?

what this user said.

The fucking slope of the price line of a stock does not affect how many customers they have, their profits etc. Using TA is like trying to cure your diabetes with yoga, the activity (TA) has absolutely no chain of causation to company profitability.

It DOES however have a direct chain of causation to the stock price, ie, the self-fulfulling prophecy. The ONLY way TA works, is WHEN it is a self-fulfilling prophecy. So you better hope you are somehow able to see what the rest of the TA lemmings are going to do before they all do them.

Are you that good? Probably not. TA is for delusional losers.

Jeez looks like it's about to moon, I will invest 100sat

what ta does is try to capture market psychology be reading past behaviour of prices. this is what EVERYONE does by default so yeah i suppose it works

A lot of bots trade extremely short-termed patterns that you may or may not rate as "TA".
E.g. shorting a breakout, as almost all breakouts, even the successful ones, will have small retracements. As a human, this might be too fickle to trade (though sometimes it’s quite easy and predictable, too)

>study meme lines for years
>find a trend
>put down your bet
>whale who had millions on exchange buys in/sells off causing a big spike/crash
>your meme lines didnt, and couldnt, ever predict this

Forgot
>shill/beg on biz

they Never can predict. Thats why they are always based on past movements. Suddenly few guys make some large orders and all this hand and shoulder bullshit breaks.

But like someone else here said, if only works on other people who believe in TA.
Its like ghosts. The people who truly believe in ghosts, will see and feel them.

thnaks
got another example on bot trading strategy ?

>The ONLY way TA works, is WHEN it is a self-fulfilling prophecy
markets are by defnition self fulfilling

Hi user,
I have been considering what major to get and have been strongly thinking about majoring in finance/accounting. How good was this degree for you? What's it like both in college and after?

Pls help, I don't want to go to college for my original choice of political science and come out with debt and a nice part time position at Starbucks

bumping in\ hopes for advice

To be honest my best bot literally just read upcoming events from TradingView and acted accordingly. So there might be something to it.

how do you make a bot like that, i cant code for shit. so i am wondering idf its just better to throw a bot on a exchange i dont use and just let em work