do technical actually work | Bitcointalksearch.org

guoyu78

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Quote from: LogitechMouse on June 12, 2019, 12:01:10 AM

For professional traders, technical analysis works for them.

I have followed a youtuber that is expert on technical analysis and what he is always saying is the positive side and the negative side. He always based what he is saying on the charts but he is always saying 2 situation. The bad and the good side so I think technical analysis do really work but not all the time.

Yes technical analysis works a lot and not only for pro traders alone, it all depend on the method of chart you chose to read, we have some indicators that are very easy to use while some are really comprehensive and can only be fully understood by pro traders, but in as much as TA functions properly, we still cannot completely rely on it alone, the best way to have a successful trade is just to have TA mixed with other trading strategies, and most especially fundamental analysis, these two work hand in had more for most successful traders, be it long term trader or short term trader.

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Quote from: beaxchange on May 23, 2019, 10:12:57 AM

The 95% use a purely technical approach to speculation and investing, relying on articles written by their favourite crypto guru for their analysis. Bitcoin has been leading the crypto market higher over the last month, and as prices move higher so will the expectations of Bitcoin's future.

Most find speculation and investing hard. It's because we are just not wired to be good at it. Almost everything we think we should do will hurt, and almost everything we believe will harm us won't.

This behaviour retells the same old story, over and over again. The majority, get caught up in the hype and excitement and buy, always late to the party, without any long term understanding of the actual risks they are taking, bouncing between exhilaration and despair, checking for tweets, posts, and updates from their trusted guru.

Technical analysis works if you know how to use it. Many traders have misconceptions about technical indicators. Usually, it helps us only to guide wether the market is in our bias. But in case it don't work this day, it never works for tomorrow. Reminder, it is only a guide to execute the plan. Do not give all your decisions from TA.

LogitechMouse

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For professional traders, technical analysis works for them.

I have followed a youtuber that is expert on technical analysis and what he is always saying is the positive side and the negative side. He always based what he is saying on the charts but he is always saying 2 situation. The bad and the good side so I think technical analysis do really work but not all the time.

binhvo1505

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Technical analysis is really effective for those who know risk management. I know a friend, he learned about technical analysis in 2015 and started trading BTC in 2017. he has too much experience to date, but he still can't know how risk management.
Although the chart is very good to buy, he still buys many tokens and gets 5% losses out of 16 BTC. He did not place a stoploss order and it was a common mistake for new traders.

Natalim

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Quote from: omonuyak on June 11, 2019, 02:35:45 PM

Those investing into a coins using technical indicators to analyze the market before investing should also have some knowledge on fundamental analysis' principles. A bird cannot fly with one wing and that is how it is in trading because technical analysis is not enough to make you, make successful trading and to some extent that is why many investors and traders used both.

Fundamentals is the most important, every trader has to learn about it in every coin they are investing.
TA on the other hand are for traders who like to bet in the market for short term, they need it most as crypto is very volatile, with TA, that could help them a picture of what will happen in the future, if they sees some opportunity in their favor, that's when they initiate the order.

Now, to the question if it works, of course it does, but not for every trader as wrong TA leads to wrong decision making.

omonuyak

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Those investing into a coins using technical indicators to analyze the market before investing should also have some knowledge on fundamental analysis' principles. A bird cannot fly with one wing and that is how it is in trading because technical analysis is not enough to make you, make successful trading and to some extent that is why many investors and traders used both.

maldini

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Quote from: shane on May 23, 2019, 11:52:24 AM

Yes, technical analysis works.

But you cannot totally depend on technical analysis for trading regardless whether you trade bitcoin or Forex. You have to do fundamental analysis as well because in the history bitcoin price mainly drove through fundamentals. However, it's not possible to apply technical analysis for all coins. Coins with low volume and market cap which are listed only in one or two exchanges can be easily manipulated. Therefore, it is wise to take decisions for trading using technicals only for major cryptocurrencies which have a high volume and market cap such as bitcoin and Ethereum.

Yes, it's true, TA does work. But in my opinion each market has a different percentage of TA strength. I think TA is more suitable for the forex market and the FA is more suitable for the crypto market because crypto itself has a higher fluctuation than the forex market. To be honest, so far in my opinion FA is more suitable than TA, and so far the average person has become a FOMO.

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Quote from: South Park on June 04, 2019, 11:16:50 AM

Quote from: raven7886 on May 30, 2019, 12:02:04 PM

It works sometimes but it doesn't work all the time. It depends on the day, just to give an example when bitcoin is looking like going up and goes down most people lose money but they do realize that it suppose to go up anyway so that this new going down means they can buy even more and wait for that go up.

Many people and I mean MANY people bought bitcoin at 6.5 thousand dollars before November happened because they believed the price would go up, instead it went down to 3.2k and they realize that everything was still looking good on bitcoin and it should go up anyway so they bought even more and then bitcoin eventually went up to 8 thousand dollars and more which means those people who bought at 6.5k and even more afterwards now profited a lot.

If you think bitcoin will go up then buy it, even if it falls keep buying, do not lose hope, it will work out in the end if technical shows for it.

But that is a misconception of technical analysis, it seems some traders have the mistaken idea that it must work all the time and that is not true, just look at the weather forecast, it is never completely accurate but it gives you an idea of what it is going to happen during the next day and week, technical analysis is the same, it cannot tell you accurately what could happen 100% of the time but it will in many scenarios and that is very valuable for the trader that can accept its limitations and work around them.

Most people still do not understand how to use TA only for one reason: they do not spend their time learning this stuff. It is certainly, needed. Without Technical analysis, more mistakes can be made.

South Park

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Quote from: raven7886 on May 30, 2019, 12:02:04 PM

It works sometimes but it doesn't work all the time. It depends on the day, just to give an example when bitcoin is looking like going up and goes down most people lose money but they do realize that it suppose to go up anyway so that this new going down means they can buy even more and wait for that go up.

Many people and I mean MANY people bought bitcoin at 6.5 thousand dollars before November happened because they believed the price would go up, instead it went down to 3.2k and they realize that everything was still looking good on bitcoin and it should go up anyway so they bought even more and then bitcoin eventually went up to 8 thousand dollars and more which means those people who bought at 6.5k and even more afterwards now profited a lot.

If you think bitcoin will go up then buy it, even if it falls keep buying, do not lose hope, it will work out in the end if technical shows for it.

But that is a misconception of technical analysis, it seems some traders have the mistaken idea that it must work all the time and that is not true, just look at the weather forecast, it is never completely accurate but it gives you an idea of what it is going to happen during the next day and week, technical analysis is the same, it cannot tell you accurately what could happen 100% of the time but it will in many scenarios and that is very valuable for the trader that can accept its limitations and work around them.

raven7886

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It works sometimes but it doesn't work all the time. It depends on the day, just to give an example when bitcoin is looking like going up and goes down most people lose money but they do realize that it suppose to go up anyway so that this new going down means they can buy even more and wait for that go up.

Many people and I mean MANY people bought bitcoin at 6.5 thousand dollars before November happened because they believed the price would go up, instead it went down to 3.2k and they realize that everything was still looking good on bitcoin and it should go up anyway so they bought even more and then bitcoin eventually went up to 8 thousand dollars and more which means those people who bought at 6.5k and even more afterwards now profited a lot.

If you think bitcoin will go up then buy it, even if it falls keep buying, do not lose hope, it will work out in the end if technical shows for it.

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Quote from: Ayiranorea on May 29, 2019, 01:54:32 PM

Quote from: Cherylstar86 on May 29, 2019, 07:19:42 AM

Technical analysis is one of the most appropriable aspect we can used to work and speculate a good outcome on trading. Thus, it difinitely important on making profits, because it can tend to create liable deliberation for every consequences.

I was not that good with technical analysis, but further through my friend began to concentrate on technical analysis. Truly the trading following the technical analysis gives good results than just waiting for drop and investing and selling when the market grows little high. Different charts with different representation is available, learning the entire charts easily makes you a pro trader.

Technical analysis skills doesn't alone make you as pro trader but once you find how to apply those analyzed chart into the market might help but didn't believe them too much as well because sometime it will go in the wring side as well.

South Park

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Quote from: BitBustah on May 25, 2019, 01:47:48 PM

Technical analysis doesn't apply to crypto the same way it does to the stock market. Sure you can draw some useful comparisons but this market has much more manipulation and you never know when some crazy whales will come along and dump the price.

While it is true there is manipulation going on in this market to think the level of manipulation of other markets is smaller is a mistake, as far as I know there is only one limitation to technical analysis and that is that you cannot apply it to markets with low volume, but once a market has enough volume regardless of its volatility and the manipulation going on you can apply technical analysis and make money with your strategies derived from it.

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Quote from: Cherylstar86 on May 29, 2019, 07:19:42 AM

Technical analysis is one of the most appropriable aspect we can used to work and speculate a good outcome on trading. Thus, it difinitely important on making profits, because it can tend to create liable deliberation for every consequences.

I was not that good with technical analysis, but further through my friend began to concentrate on technical analysis. Truly the trading following the technical analysis gives good results than just waiting for drop and investing and selling when the market grows little high. Different charts with different representation is available, learning the entire charts easily makes you a pro trader.

Cherylstar86

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Technical analysis is one of the most appropriable aspect we can used to work and speculate a good outcome on trading. Thus, it difinitely important on making profits, because it can tend to create liable deliberation for every consequences.

Altero

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Quote from: Al-e_x on May 29, 2019, 03:55:40 AM

Actually technical analysis is very helpful for traders to predict the next price, but in crypto technical analysis is not always successful, because of the news that suddenly appears and messes things up

It actually doesn't work if you'll never seeing that analysis worth nothing. Even we have that market volatility but still, we can use that TA in our daily trades. Unfortunately, not all TA's are accurate, it sometimes falls into a big opposite with the market and making ourself adoptable to the marker will give us a way to help it out from losing.

Caladonian

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Quote from: Al-e_x on May 29, 2019, 03:55:40 AM

Actually technical analysis is very helpful for traders to predict the next price, but in crypto technical analysis is not always successful, because of the news that suddenly appears and messes things up

It can still be used as patterned to follow, the guide of technical analysis can give good anticipations, but you still need to have other sides of factors
that served as your basis when you place your investment, increasing your chances to earn while following those early sentiments of the market.

You can build strategy and take your call with good guidelines after reading system that you think that will help you for much successful investment.

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Quote from: iMark on May 27, 2019, 11:03:19 AM

Quote from: shane on May 23, 2019, 11:52:24 AM

Yes, technical analysis works.

But you cannot totally depend on technical analysis for trading regardless whether you trade bitcoin or Forex. You have to do fundamental analysis as well because in the history bitcoin price mainly drove through fundamentals. However, it's not possible to apply technical analysis for all coins. Coins with low volume and market cap which are listed only in one or two exchanges can be easily manipulated. Therefore, it is wise to take decisions for trading using technicals only for major cryptocurrencies which have a high volume and market cap such as bitcoin and Ethereum.

Yeah agree, because we know that price changes don't occur because of just one factor, there are many others factors that affect prices, start from manipulation, economic conditions, issues that happens, and many other thing. Predict prices not only from TA by reading candles, but there are many other things you can do to predict the price so it will be more accurate

I think it is better we depend more on these factors than to rely on reading candles on TA. I have seen so many charts in the past few weeks that bitcoin started this bull run and no one out of them has successfully match the value they predicted and the value the market itself released.

All these predictions that I see are basically assumption and numbers picked randomly, I think other factors like the ones you mentioned are really the ones we should look at for us to accurately make the right decision or near the right decision. That is why I like holder, they don’t speculate as much as short term traders does, they just wait to see the end value which is the ATH before taking profit.

Al-e_x

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Actually technical analysis is very helpful for traders to predict the next price, but in crypto technical analysis is not always successful, because of the news that suddenly appears and messes things up

emberbekas

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Quote from: shane on May 23, 2019, 11:52:24 AM

Yes, technical analysis works.

But you cannot totally depend on technical analysis for trading regardless whether you trade bitcoin or Forex. You have to do fundamental analysis as well because in the history bitcoin price mainly drove through fundamentals. However, it's not possible to apply technical analysis for all coins. Coins with low volume and market cap which are listed only in one or two exchanges can be easily manipulated. Therefore, it is wise to take decisions for trading using technicals only for major cryptocurrencies which have a high volume and market cap such as bitcoin and Ethereum.

Using technical and fundamental analysis as references when making a decision process will be better. Indeed, the technical itself will work but surely, it will not work as expected all the time. Even using these two methods, technical and fundamental, there will be times when our decisions are wrong. That is the consequence that we must face.

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In the crypto market, we definitely have to understand technical analysis and if not, you will be eliminated by the rigors of the market. Value investing is not one of the good strategies here, it can make you poor early if you don't realize this.
I used to follow Warren'sism and invest like him in the crypto market. My 10 deals have all collapsed. it was worse.

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