Do you believe Technical Analysis? - page 7.

khiholangkang

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Quote from: tygeade on September 30, 2023, 11:46:52 PM

Quote from: khiholangkang on September 29, 2023, 11:39:15 AM

Quote from: AicecreaME on September 29, 2023, 10:58:15 AM

If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time.

And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements.

That is sort of true, I mean you have to do all those type of stuff to keep it going otherwise it's not going to make any sense, all those numbers and charts and indicators would be useless if we didn't use them properly so you are doing a great job. However, you have to also realize that it's not going to be all that different and should be doing something that could win something on the long run.

I personally do not believe that it would be terrible, we could maybe try to look at it different ways sometimes, because even though TA is a great way to see how it goes, news are not that terrible neither because while it looks one day on TA, a news could make it go the other way around. So always be open for other stuff too.

This means that for the analysis itself, we must not close our eyes to supporting data in the analysis, and the news includes external data that we need to observe and see how it can affect Bitcoin, for example the FOMC results can sometimes put pressure because The Fed raises interest rates, While on the chart that we analyze shows the results of the potential for bullish on the market. Well this is where the importance is not only TA used to predict prices, but external sentiments such as the news also need to be put into your formula in calculating the potential for price movements.

Huppercase

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Quote from: Hypnosis00 on September 30, 2023, 10:05:11 AM

I would tell you OP that you can never see good results from TA if you don't believe. It is useless honestly to say that TA is good if you don't understand it clearly.

As you can see, traders are using these tools candlesticks and price charts to analyze the market trend and that is because they believe that this would help them predict what will happen next. Though it was not 100% but at least we have some basis for our trades and the chances to earn is higher than those who have nothing. It is clear to us traders that we need these tools otherwise, it makes no sense when trading if we have no basis as it is just like gambling that are hoping for luck.

You took the words out of my mouth. You only believe something that work for you and that is because you believe that it will work, if you don't believe, no way it will work for you. The trading technical analysis where there and has work and hence why there are tutorials of it every meida form, there is vidoes to learn and there also PTDF, will you still say if it work or it doesn't, I have seen good traders do live vidoes to test their skills and they work like magic.

However, over dependency on anything is bad and technical analysis is not different. Try and merge them together with fundamental and also your guilty conscience because sometimes, your conscience will be fast in decision making than the analysis you have planned. In addition, don't over depend on technical analysis it becauase there is no way you will want to trade and you wouldn't use indicators and indicators will also give you wrong signal too.

Richkiedx

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Ya Of course, in the trading industry, you shouldn't just be predicting what the market will do, what's important here is that you have knowledge

btctodamon

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Using past candlestick charts to make price predictions is a common practice in technical analysis, a methodology used by traders and investors to forecast future price movements based on historical price data
but it should be used alongside other forms of analysis and risk management strategies. It's important to be aware of its limitations and remember that no method can provide foolproof predictions in the ever-changing world of financial markets,

tygeade

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Quote from: khiholangkang on September 29, 2023, 11:39:15 AM

Quote from: AicecreaME on September 29, 2023, 10:58:15 AM

If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time.

And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements.

That is sort of true, I mean you have to do all those type of stuff to keep it going otherwise it's not going to make any sense, all those numbers and charts and indicators would be useless if we didn't use them properly so you are doing a great job. However, you have to also realize that it's not going to be all that different and should be doing something that could win something on the long run.

I personally do not believe that it would be terrible, we could maybe try to look at it different ways sometimes, because even though TA is a great way to see how it goes, news are not that terrible neither because while it looks one day on TA, a news could make it go the other way around. So always be open for other stuff too.

ice098

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Yes I belive in either candlestick or technical analysis, both are good strategy that can be use in trading and it is very helpful when you are starting to trade. When I started trading I only knew candlesticks, yes it is not 100% accurate because sometimes there's an unexpected things happen but it's fine as long as you know how to use stop loss or make a dca. Just like other things it is better to make research first too

alastantiger

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Quote from: shivansps on September 27, 2023, 02:47:05 PM

Yes, I believe technical analysis as a good guessing tool, but not as an accurate and true opinion. This is the beauty of trading, if you could calculate something exactly, everyone would be millionaires, but this is not possible, so perhaps it is worth studying technical analysis but not relying on it as truth. This is not mathematics or physics, this is not an exact science

Technical analysis is good but it shouldn't be used solely. I also pay attention to fundamental analysis. I use both of them based on the strategy that I am using at that moment. I know a trader who uses only technical analysis and makes a lot of money from it because he has experience in it.

Hypnosis00

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I would tell you OP that you can never see good results from TA if you don't believe. It is useless honestly to say that TA is good if you don't understand it clearly.

As you can see, traders are using these tools candlesticks and price charts to analyze the market trend and that is because they believe that this would help them predict what will happen next. Though it was not 100% but at least we have some basis for our trades and the chances to earn is higher than those who have nothing. It is clear to us traders that we need these tools otherwise, it makes no sense when trading if we have no basis as it is just like gambling that are hoping for luck.

Ben Barubal

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Let me clarify: in terms of the learning process, we can't only learn from mistakes in the past, nor can we learn from other mistakes; besides that, we can also learn from the right situations that happen. I say this so that there is no confusion among others who will read what we are talking about here.

Just like the topic being discussed here, let's use our common sense and logic. If technical analysis does not help traders conduct trading, there is no need to use it because it is obviously useless, right? That's why the reality that happens in actual trading, whether it's stocks, forex, or crypto trading, is not like that. These three I mentioned use technical analysis. Therefore, technical analysis is a great contribution for traders.

Captain Corporate

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There are a lot of chart readings using exactly what OP talks about. You check the history, and how it moved and you check current times, and when on long enough time it does the same thing, you check what happened afterwards in the past and assume it will be the same. How do you think those charts are made, why do you think people all know what head and shoulders means, that's not just a shampoo, its a candlestick movement. Thats why its quite important to know the past, and memorize some common moves and act accordingly to make predictions about the future. Doesn't mean it will happen, it just means that there are some who uses them.

chaser15

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
What are your thoughts on this matter?

The technical analysis states what are the best possible things that might happen in the future.

It's up to you if you want to believe in those but those analysis were made by carefully studying the market. It doesn't just show there as a simple prediction. These traders don't just want to predict without any backed up or support on what they are saying.

There's no 100% prediction that's why it called prediction. Technical analysis will help us decide what to do next.

Bananington

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Because many traders believe that history will repeat itself, they behave in line with history and assist history in repeating itself, that is why technical analysis following historical movement of candlesticks repeats itself again. Knowing and putting attention on technical analysis alone may work for you as a trader, but if you do not believe technical analysis and put your attention on Fundamental analysis alone, trading will not really be as successful as it should be. Technical analysis is necessary.

Mahanton

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

When it comes to type of analysis that could deal with then it would really be just on this two;

1. Fundamental
2. Technical

Fundamentals talking about news and events on the market neither it would really be correlated with those typical economic news and other markets which it do really correlates and connects out on crypto
space or not because having those kind of sentiments could neither be that affecting or not this space on which assuming out that this is really that correlates or connect then it is really that
safe to presume that it wont really be that a bad idea on trying to check out and consider on applying it into your analysis.This is why as a trader or a investor then you would really be needing
to be that versatile.

Now, speaking about TA's? We know that not all the time this market would really be having those kind of news and this is where making use of these tools or indicators would
really be that relevant or something that it is really that recommended on doing so.

DaMut

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The common response that its a reflection on the psychology of people is true. the thoughts and interpretation of every trader is what is being represented in the charts by candlesticks. Technical Analysis works which i am sure of but it might not be 100% effective and i dont think that any strategy is 100% accurate. if you are technical analysis trader it will help you to be ahead, predict the likely outcomes and make some profits overall depending on how consistent you are with your strategies. once you have the mind that you dont have to be right all the time then you are good to go.

khiholangkang

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Quote from: AicecreaME on September 29, 2023, 10:58:15 AM

If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time.

And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements.

AliMan

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There's no question about their ability with different aspects of trading and skills they acquire, but I guess that's only for forex trading market. If you apply those skills with respect to cryptocurrency, that's totally different since the behavior of the market is volatile and unpredictable. However, technical analysis coming from experts and geniuses of this field of trading would literally come up a 60-70% chances once that principle will be applied radically.

AicecreaME

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If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

tjtonmoy

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Quote from: justdimin on September 29, 2023, 08:04:01 AM

~snip

I am not against someone trying out trading after some days of learning. It is important to have hands-on experience. You never know before you try it out yourself first. And the more you try, the more you get better at trading. Emotion control is important in trading, and if you don't trade, you won't be able to fix that or know how to control it.
So my suggestion for newbie traders is to try it out as fast as you can and always try to find your mistakes. So that in the future you can learn from your mistakes. But the important part is, only use a small amount when you are starting. Learning a little at a time is not a bad thing but stopping after learning that little amount is bad. One should continue learning while they are also implementing that knowledge. There's no limit on how much you can learn. So keep on going until you master it. The moment you stop, other things will keep on happening and you will miss out. The world doesn't stop spinning, so why should you?

justdimin

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Quote from: tjtonmoy on September 28, 2023, 09:25:47 AM

It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.

But if you still want to get involved in trading, the first thing you need to learn is the analysis of the market. And what better way to do it than technical analysis? To be more exact, this is the base on which your learning is going to be built. The chances of getting a successful prediction are less compared to the past but it still works. The percentage of success has dropped due to sentimental movements in the market but that doesn't stop us from using technical analysis.

The insane amount of study that you need to make in order to reach to a good level is important and many people try to skip that part. I have seen someone who studied for 2 weeks and assumed that they were doing good, that's not really how it should be done.

I believe that we are going to end up with some bad results if we are not careful and studying that little means that you are going to end up with a loss. If you really want to end up with some profits you should be making some profit and that should be the most important part. I realize that there are going to be some cases where some people learn it quickly because they dealt with trading before in other stuff, but if you are not like that, take longer time to learn.

knowngunman

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Quote from: heartbit.offical on September 27, 2023, 02:41:19 AM

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Using previous charts to predict the future price is a good idea for people that know about the chart but one should also be aware that the past does not always reflect in the future as the case may be. There's no guarantee that the chart movement in the past will repeat itself in the future. Technical analysis is actually good but it should be seen as a probability and not with certainty. Also, using past charts is not for everyone as it require high skills in order to be mastered. Talking about psychology of investors, it's based on personal perspective and not everyone agrees that candle sticks reflect investors psychology. It just depends on how you interpret it.

Topic: Do you believe Technical Analysis? - page 7. (Read 1341 times)