Can someone tell me, do people ACTUALLY believe in TA or is this an actual joke? Can people be THAT stupid?

Yeah, it probably looks like magic if you don't understand how it works, right?

this if you aren't retarded TA is a moneymaker

I think those of us who think in pattern matching, notice that "hey there are absolutely definitely patterns here, I can match them and master it" and get so obsessed with doing that we lose sight of the underlying territory itself, which is what actually dictates what is going to happen. The patterns are just like patterns you see in any herd behaviour, they don't dictate the total direction en masse, just the basic trend at any given point in time. Much like analysing a battle based on the ebb and flow of attacking and retreating units, the patterns don't dictate the winner, the winner dictates the patterns.

It's like the perfect viral scheme that works if everyone believe in it.

Put 10 people who do not believe in ghosts in a dark room
and
Put 10 people who believes in ghosts in a dark room

>TA is a meme

Do chess strategies and positions actually work? I mean, it makes more sense to just randomly move your pieces around the board and jerk off the in the middle of the game. There's no way for you to actually compete with other people and figure out what their strategies are or what they're thinking.

It's not but there is only ONE opponent who can make only this many moves. So that means, the same occurs there. You can't read his mind so you can never be certain. If you could, go ahead, become the worlds greatest chess player just as much as TA would make someone the richest man on earth.

...That is not how it works at all. You also don't have an underlining understanding of why patterns form. Alternatively, the bots are all programmed to compete based on indicators too.

People who use TA are right 90% of the time.

TA sort-of works in crypto because it was made to predict emotional trading.
It doesn't work in more efficient markets like stocks.

Congrats Alex, now you're starting to see how this works. In most coins there is one large market maker whether it be an individual or group of people who've pulled their resources together.

Things get a little bit more interesting when you have competing groups with large amounts of capital.

90% Not a fucking chance.
If you just focus on the last 1 lines which is the only meningful (the rest are just enmpty and never aligns with every top and lows anyway. The one who draw these lines always redraw from mid to lower, zoom out more, zoom in more, etc) even then there is 50% chance of having right since it could go up or down. Or follow the tunnel or not. Simple, no wizardy, just meaningless patern rationalizing to feel lke increasing the chance of making money instead of the negative emotion of loosing or making bad bets.

youtube.com/watch?v=Li3-NwAj6t4

Get rekt. He doesn't even use any indicators either.

(All TA patterns are actually things you kinda pick up intuitively, textbook formations though are mostly reference points. I don't actually refer to meme lines or patterns at all when I am specifically talking about TA, but they do come up and often coincide with other methods all leading to the same conclusion.)

Fact is in crypto there are so many countless gains that these TA people start to believe they are doing great thanks to their TA. They'll post like "Yeah its fake, OK, tell that to my 1800% gains" but like... everyone has those gains. Its crypto.

The fact that you're saying something could go up or down is always 50% is fucking idiotic.

You didn't do any backtesting to derive a distribution pattern or provide a proof of the mean or standard deviation. There's a shit ton of different distribution patterns and they're means are not necessarily '50-50' given a set.

Suppose I give you a coin and over 1 million trials it's heads 90% of the time and tails 10%. Would you assume that this was just a bizarre string of luck? No you fucking idiot, you'd assume the coin was rigged / the mass wasn't distributed evenly. 2 Options DOES NOT mean 50% chance of each.

You weren't here in october or right after the peak in may/june when the alts got halocausted.

There were people making money while everyone else was losing.

Excellent point! Good thing you brought it up. Also a fallacy (well more thinking bias), called "Self-serving bias"

"A self-serving bias is any cognitive or perceptual process that is distorted by the need to maintain and enhance self-esteem, or the tendency to perceive oneself in an overly favorable manner.[1] It is the belief that individuals tend to ascribe success to their own abilities and efforts, but ascribe failure to external factors.[2] "

You are like a little baby, listen to this

Secular tops in US stocks were 2000, 1968 and 1937 – 3 solar cycles apart (roughly 33 years). Secular nominal bottoms in stocks were 2009 (expected), 1976, 1944 and 1913 – 3 solar cycles apart (roughly 33 years). Secular tops in commodities were 1980, 1948 and 1918 – 3 solar cycles apart (roughly 33 years). Secular bottoms in commodities were 2000, 1968, 1938 and 1906 – 3 solar cycles apart (roughly 33 years). All these tops and bottoms fell very close to solar peaks and minima.

Is there anything special about 3 solar cycles, 33 years? Yes there is. Every 33 years the lunar calendar and solar calendar converge. A lunar month isn’t quite the same as a solar month, and so new moons and full moons gradually advance through the seasons, returning to where they began every 33 years. Most ancient calendars are luni-solar calendars incorporating lunar months plus additions to make it fit the solar year too, so societies engaged both. My detailed guide, Trading The Sun, reveals the influence of both lunar cycles and solar cycles on people, the financial markets and the economy, and the synchronisation of humans and human systems to cycles of nature. Rhythms in stocks and commodities – or more specifically human risk appetite and buy/sell patterns towards them - have synchronised with this luni-solar cycle...

Anyone doing proper TA has sophisticated algorithms taking real time data about price and volume to predict movement.

People who draw meme lines on a graph and say shit like ‘crouching tiger hidden dragon forming, big buy signal’ are literally the dumbest of the dumb

This was about TA, wasn't it?

If you look hard enough you will find the most ridiculous reasons why the earth is flat too.
blackbag.gawker.com/the-earth-is-flat-explained-1755002534

And this is just a form of confirmation bias
en.wikipedia.org/wiki/Confirmation_bias

Guess right with TA once, and start looking for, what seems to be to you, solid evidence why TA works.

In response to this you can literally find patterns in anything you want. The solar system does not have anything to do with market crash. And expected? That was most likely emotional response of fear based on greed seeing the crazy market movements.

But according to Paul Ekman, greed is not an emotion. So greed coming from fear. Fear of loosing what you made. Greed goes both ways.

Every major trading desk in the world uses TA, yeah they use the order book for short term market making, and the algos use what
says, but longer term they use TA. There was a futures guy from Chicago in here the other night and he uses measured moves, channels and the usual MA's.
The 100 and 200 MA's on a four hour chart are huge, the 50 MA held BTC on most of the recent rise. The Japs are all using Ichimoku, I could go on but what's the fucking point, this is 90% a retard den.

goddamn, that's literaly the powr graph from a month ago and there was an user who called that exact pattern.

I know they do, and thats why most people fall for it. That's called "Social proof"
en.wikipedia.org/wiki/Social_proof

"Social proof (also known as informational social influence) is a psychological and social phenomenon where people assume the actions of others in an attempt to reflect correct behavior in a given situation.

Social proof is considered prominent in ambiguous social situations where people are unable to determine the appropriate mode of behavior, and is driven by the assumption that the surrounding people possess more knowledge about the current situation."

This is from Wycoff, which is a way of seeing what's actually there and always will be in every market. That's a better thing to learn than just spamming meme lines on a chart, because if you get that wrong, and nearly everybody does, you will get fucked up.
Note the spring, that's when they run the stops or ''''''''''check for demand''''''''''.

There's no 'social proof' in fibonacci MA's that consistently knock the market on it's arse in a strong push. I'm looking at them do it now on BTC.

People who make money using TA forget about the people who lose money using TA

>They must be doing it wrong

How awfully convenient. Or maybe your confirmation bias has led you to believe random patterns in graphs have fundamental meaning.

No, you get me wrong.
In your sentence, you argued. And when you argued, you appealed to authority. In this case, "Every major trading desk in the world uses TA" is authority.

I just stated, people fall for TA, especially because any figure of authority uses it. And if more people use it, it's called "social proof". When we are uncertain (or certain, would create doubts), we acknowledge social proof. We base our judgement to others in such cases.
This happens more to new people. Trading crypto, or not.
And the biggest bias here is, what we learn in the beginning of our new experience, tend to be what we seek for in confirmation bias. It's hard to change our minds once we have learned.
That requires a strong and open minded person for.
Thats solely because it creates whats called a "cognitive dissonance". A very very unpleasant feeling. That's why we do these stupid rationalizations, to avoid a dissonance.
Cognitive dissonance is also why we leak our emotion on our body language. To "channel" this unpleasant feeling outwards through our body. Subconciously.

Because majority of people are unsure when investing. Doesnt wanna loose money, of course. Understandable, they are in it for the money.
There is so many coins to choose from. Its ups and down, everyone wanna jump right in before a huge pump. Thats a good feeling.
But the uncertainty is killing you inside. Its creating a loop of doubts in yourself.
In order for your subconscious to defend your ego (the core of yourself, your well-being is based on this), you have all these fallacies and biases. This is to avoid the cognitive dissonance you get from having doubts.
This is where TA fits your logics perfectly.
It eliminates your doubts on yourself, or your judgement, by adding a safe layer of "either this, or that" and "it should, because". You won't feel responsible for bad trades anymore.
Because now, you know even the "big guys" use TA and "it works".
It doesn't work. Everyone should be doubtful about it too, but deny it.