Japanese candles vs Heiken Ashi.. which one is better, /biz?
Or at least in what situations do they have their relative strengths? I know japansese candles are good for specific patterns but heikin ashi is good for seeing the overall trend? Is that it?
Doesnt SAR and zig zag do the same thing as heiken ashi?
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yankee
>Heiken Ashi
theyre both japanese though?
The first day traders were rice traders in japan and they are the ones that developed TA.. TA wasn't really used in the west till the 80s.
Pro-tip it's all bullshit. If you could get rich from reading meme lines and candles we'd all be millionaires.
Pro-tip, automated trading bots based on TA fail en masse and get sold to absolute retards for a few hundred bucks.
Pro-tip, BACKTESTING saying "look, it works on non-live charts" is a fucking joke.
>If you could get rich from reading meme lines and candles we'd all be millionaires.
Or it's like any game and the top 5 percent makes money because most people cant even manage basic competency.
>Pro-tip, automated trading bots based on TA fail en masse and get sold to absolute retards for a few hundred bucks.
There are good bots though and they work at least for small periods of time. And only the most sophisticed neural networks rival human pattern recognition. And humans have INTUITION. Although most people's emotions fuck them over.
>BACKTESTING saying "look, it works on non-live charts" is a fucking joke.
Bro pull up tadeview and start drawing fib speed retracement boxes. Draw them so that you try to predict future patterns. From what I have seen, fib levels seem to be a kind of self fulfilling prophecy that enough people believe in to make it work. Or it's actually some kind of intrinsic pattern that relates to human group think.
Pic related is a fib speed box i drew on feb 21 with the .75/and it's still predictive. At least it just gives general hints about what the market might do next.
> And only the most sophisticed neural networks
trust me, neural networks are absolute dog shit when it comes to time series analysis/forecasting. They are meant for a completely different set of data and it really shows.
i meant to type .382/.75 on the x and y axis respectively. And also this is a copy of my other chart on trade view so i accidentally put the peak on the wrong part of the double top but you can still see how it correlates. Ofc it's not perfect but every time the price graph crosses a line that is a place where you have ot look out for reversals.
Underrated candles
I still think in the future we could see better ones and you can use that kind of software for alerts and just part of a bigger overall trading system. Price action is still really important.
But anyway I am just wondering about the candles? Was I right that the traditional candles are better for patterns and heikin ashi for overall trends? And doesnt zig zag and SAR pretty much do what heikin ashi candles do?
Candles are completely useless if you don't know how to read them
So Henk until you know something
i get it now lol
The [RS] moving average candles + ohcl lines are god tier underrated
>RS] moving average candles
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Are you talking about these?
Is there anyway to use crypto to add money to a pay pal account.. My card isn't accepted on their site so i have the ghetto trading view trial version.
... check out how autistic the standard candles look in tradingview with very low volume... this is the only reason i use heiken ashi - also a variation of nip candles
You can get rich from reading meme lines. I’m 25 and told my boss to go fuck himself because I actually made more money scalping than at my overnight job. You need to do a lot of studying though, and it can get pretty boring and frustrating sometimes.
wow that makes a huge difference.
Im pretty sure there is no difference between that script between free and payed trade view
Your problem isn't the candles but the low volume of coinbase, use a different exchange
How much time do you think we have left trading crypto? I have this overwhelming sense of doom like the oppertunities are going to dry up or something. But we still have a few years of trading right? Even if there aren't many alt coin moon missions and even if bitcoin slips to lower prices guys like us that trade are still going to have crypto action to play right?
I've never traded anything else than crypto but i want to diversify my skill set eventually. But the thing is stocks and other traditional assets are so slow and less volatile. And also it's such a bummer setting up accounts and stuff with brokerage firms lol. Crypto is like trader's dream.
SO yeah do you think it will stay tradable for a few more years even if it the prices aren't tulip mania tier high? And even if governments try to regulate it they don't seem to be talking about banning them all together so it means the 24/7 trade oppertunities will staty?
I just hope that i have at least a year or two because im just finally starting to become profitable and confident. One user told me that it's probably because i have "imposter syndrome" and my brain cant comprehend that it's actually happening and im actually becoming financially independent.
And seriously I feel like almost anyone could scalp.
oh shit youre right.. i feel like an idiot
>trust me
lel
Lmao none of you fags actually know what the fucking trading bots do. I highly recommend any of you to try it. You will probably loose 80% of your stack before you can even develop a proper trading system that doesnt fucking bleed money. Also NN's are not being used correctly. Any algo trading community is run by 80% fucking brainlets who never worked in finance or in ML, and just use retarded RSI+BB trading methods, not optimized for trends, randomwalks, dumps, high passfiltering,trailing stops/TPs or any other 300 things you need to account for. Learning takes time. TA is nothing more than statistics. Reading twitter or biz will never teach you anything usefule. Fucking wedges, triangles, all useless unless the proper conditions are met. Read a fucking trading book, or 5 before you start charting. Also just reading news will eat your ass if you "believe in a technology" everything is complete shit until proven otherwise in a fucking speculative market. Learn to trade, not to invest in this market, and you'll start your actual journey to finance, if you choose so.
TA is like reading chicken entrails but with fancier words. When someone eventually, inevitably gets lucky they think it had something to do with this pseudoscience.
what books do you reccomend?
I'm pretty new at this but honestly I don't see what the problem is with "meme triangles" ie consolidation patterns and fib retracements. And RSI and BB works bretty good although I am well aware it doesnt always work.
And yeah im in this to learn how to trade... The technology is pretty cool but i just want to learn how to make money form any speculative market, but crypto is definitely the best of them.
What do you think about stuff like "elliot wave?"
And i dont want to waste time reading books about shit that i will never use. Is there any books that are really good for crypto or basic RSI BB stuff?
Also have you seen the papers about "quantum patterns" in stock prices?
>TA/FA fags
Prove. Your. Shit.
Look at the pic in . It's not entirely random, and there is strong correlation to certain patterns. Some people do make money and I've been profitable in the last couple months despite the market trending down.
I'd like to be more profitable though. Every once in a while someone will pop on biz with some really helpful advice. One guy on here posted a screenshot of his balance and it was like 5 mil. He said something about finding alt coins that work as signals for other alt coins or bitcoin.
very interesting
Ok, I'll curb my snarkiness. How much time does it take every day though to do these analyses? Are there any good books on the subject? Genuinely curious now.
look at this
I drew that fib box on feb 21 and it's still correlative to the price. I'm pretty new at this but ive made money in the last two months even though the market is trending down.
Anyway I'm not interested in proving anything or having a dick measuring contest. I'm just fishing for tips. But a less appreciated benefit is that the more people who use TA strategies, the more it becomes like a self fulfilling prophecy which adheres to the patterns everyone is using for TA.
I also like some youtubers that explain TA. Chartguys and Tony Vays.. although i dont really understand tony's system and i just started following him, but he sounds confident lol so maybe he's worth investigating.
Any youtubers that anons could recommend?
Meh i'm literally taking easy classes in school just so i have more time to devote to this, as i'll always wonder if it was possible if didnt give it my all, but yeah i mean the people who really commit are going to be the ones that most likely make it. And it's nerve wrecking because you could potentially lose money.
But yeah i mean i would start with thechartguys.. idk about books.. I just read a few biz threads that got me started on this path. RSI and Bollinger bands are what everyone starts with and also the fib speed retracement box on trading view is excellent.
But yeah i mean it's like anything else. Thechartguys youtuber said that it took him 500 hours of study to get started. I've probably done that much almost by now. The millionaire trader that came into a biz thread said that he would spend all day and night starting at charts of all kinds of alts and drawing all over them.
It's just one of those things that I know i have to give my all for like 6 months or a year. If it doesnt work by then i'll get back into what i was studying before. At least in the next 6 months most of it will be summer break from college for me so im shouldnt be very far behind and in between trades i still do some studying of other stuff.
But yeah it takes going full retard.
Thanks for the info user, appreciated. And best of luck with your trading and studies.
But i should say though i think it takes less time than other things like computer programming or art if you are starting from no knowledge in those.
Other creative skills, which i am actually on the brink of being competent at take like 2k or 3k hours to become competent at but i think day trading is in the low hundreds to low one thousands in terms of hours. MAstery for other skills is supposedly 10k hours but I think for crypto it's probably a bit less and it's such direct access to the money and success so that's what makes it so intriguing.
It's a lot more appealing to me than just hodl although i wish i would have done that ofc but this seems like the last opportunity to really make it in crypto and ofc the skills translate to other speculative markets, although those markets have less volume, accessibility, and volatility but people make it trading all kinds of things anyway and some people think those are easier to trade. But i think crypto is probably easier. Like with trading gold or oil you only get so many opportunities to clear transaction fees even if some of them are more predictable because of intrinsic mark conditions.
right back at cha
Trust only yourself
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Press play. Btw, these are shit calls from people who I thought were great traders. Also avoid front page trading view charts. Chart YOUR OWN SHIT, DO YOUR OWN RESEARCH.
elliot waves are always hard to identify, I rather utilize fibs to see retracements, and thing of eliliot waves last, I've however seen veteran traders with incredible precision from years of burning their eyes staring at candles haha.
Also quantum patterns are interesting, however I feel there is a significant gab between the papers and crypto application. I'm sure you can be the first to close the gap and create a write up on its applications. Also lots of books. Google or ask around for google drives that have loads of books to read from. I recommend reading the basics,and skim the rest, and look for things that interest you. Learn the math, dont be a brainlet who just takes the indicators. You'll hit a brickwall eventually because you'll confuse yourself and you wont know the differences in what each indicator is trying to tell you.