TA is the homeopathy to trading
proof me wrong plebs
Proof me wrong plebs
TA is the homeopathy to trading
What do you mean by TA. Do you mean observing a chart and making decisions off it?
Any kind of price action analysis is TA.
Now are you saying the only way to trade is buying on fundamentals and selling when you 'feel' like it?
Instead of asking to be spoonfed I would suggest creating a spreadsheet and tracking your trading statistics. Find out what your win rate is, your avg P/L etc. Then perhaps apply some TA and see if that changes anything. Then you can come to your own conclusions. And by doing so you will have increased the average IQ of this board because you chose to DYOR.
Fine, I'll bite
To anyone who thinks TA is bullshit, how do you know when to buy and when to sell? Do you go for the hodl meme? Or you're just gambling? I really want to know.
my TA has been working just fine, check my latest thread
k since this was to cryptic for you... trading is gambling unless you are an insider
PROOF me wrong plebs
i rolled a 6 with my dice 3 times in a row and everytime i fapped before. my dice rolling startegy has been working just fine lately
what is probability
Why is it gambling? Because there's a chance to lose? When I'm complacent on the job site and I go to make my 60th cut of the day I might take the end of my finger off. Every day a tradesman puts on his workboots he's gambling with his life. We put controls in place to protect workers, but nothing is 100%. Same with trading. You have a trading system that includes risk management.
your risk management does not improve your chance of winning to more than 50%
to be precise you wont even reach 50% since transaction costs
people think ta works when it doesn't
more people start to think ta works when it doesn't
lots of people including big pockets start using some sort of ta strategy
It's self fulfilling prophecy's the more the memelines spread the more they become real
50% is fine. It's about your wins being bigger than your losses.
smart one, these ones are rare here
actually thats sudo science that plebs read and instantly believe since it makes sense in their uneducated mind. you probably got that from wikipedia
go fetch some data on TA. you will see that there is one contradiction after another. or go do backtests. its easy to do.
or let one guy do TA on BTC_USD, ETH_USD and BTC_ETH and see if they fit together. you might be surprised how well TA contradicts itself right with that experiment
also its not like TA is hard. every idiot can do it. but why isnt every idiot rich? afterall you are saying the more people do it the better. that doesnt really add up
besides that why does not anyone who does TA have a nobel price? why was nobody so far able to disproof the papers (f.e. efficient market hypothesis or performance of mutual funds) that say TA is useless? i mean if its so clear one might think that should be easy to do
well you have again only a 50% chance that your wins are bigger. quite redundant that argument
No amount of makeup can help her
plebs calling plebs smart
oh boy here we go
and still you cant show me any proof that TA works.
maybe start to consider that you maybe are not that smart
No, he talks about you experimenting yourself instead of trying to know other peoples shitty opinions. TA is only to make you understand the possibilities not a fucking prediction cristal ball
Actually TA is bullshit
well no to you.
ta does not make you understand anything. thats why its USELESS
you are like those homeopathy mums. you just wont use your brain which brings us back to my initial claim
no doubt about that but i needed a comparison
Actually it's more like pre-baconian science, in the vein of aristotle or plato. There's always a complex after-the-fact explanation for something, but no predictive power because it's really not an explanation of anything.
not OP, but any resources you could share to help with tracking trades?
Shitty bait op. Nobody this dumb and close minded would ask such a question.
what question you retard?
what you refer to is just polyline fitting. probably often a way people try to "legitimize" TA or even the base it on. i agree
I was the same as you for years. Been in this game since the mtgox days and always laughed at TA charts. Especially after what Shkreli said about it.
But a lot of basic TA is actually pretty solid. Consolidation patterns, trendlines, support & resistance, volume, RSI, candle structure, etc. Nothing is ever 100% but if you're trying to make short term trades they will help you way more than just looking at the price and a simple line graph.
Also stop looking at other people's TA and start trying it yourself. Most of the shit you see on tradingview and twitter is complete garbage. It's a lot of neckbeards just trying to look smart by using some fancy indicator they just learned. Real daytraders stick to a few standard indicators and that's it.
But yeah consolidation patterns is what really made me believe. You'll start seeing them all over the place, and when they break the pattern they almost always move violently in the direction that they broke from. There's even one going on right now on the S&P/DJI.
If it floats your boat..
seems like you got whololod
disagrees with what exactly
No mate sorry. Just going to have to create your own. Here's an article to get you started in the right direction. babypips.com
Here's a fun experiment using only candle sticks. Inverted hammers and hanged men are some of the most powerful indicators of a reversal. Let's use the daily as the higher time frames have the least noise. Let's say you only short reversal candles at the top of an uptrend.
Wow you could have made some decent gains with just a rudimentary understanding of TA!
I feel dumber for having read this, thanks faggot
thinking homeopathy doesnt work.
Stocks don't have whales, Market Makers, Undergroud networks of asshols on discords and chatgroups who pump n Dump.
Crypto does. It's legal.
You can't run bots on crypto like you can on Stocks.
You can't TA crypto like Stocks. Go find some real publications like CNBC and see how accurate their predictions were.
But here is how you know when to buy;
If you were to, say, here about TRX launching their testnet this saturday (the 31st), you might think (hmmm do I really give a shit about the project, or do I think this is an easy 20-300% gain).
If you don't think that than you belong to the wondeful group of people on exchanges I like to call 'customers', getting served by fundamentalists like me.
Fundamentals are a great way to trade. It doesn't discount TA though. They go hand in hand. Like a jab and a cross. Do you think the krill in those PnD groups are selling the tops? They're selling 40% below.
smash or pass?
come on Veeky Forums i need answer
lmao you clearly don't understand basic economics
is this a joke?
fundamentalists like me
This is nonsense