Is Technical analysis bullshit? - page 3.

arthotdog

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

It depend on whos giving the technical analysis or if youre the one doing it,well i guess youre a big mistakes about it.

As what my own strategy is concern i am not using TA instead research on my own,and checking the price movement myself.why not just go for long term than trading atleast in long term investing is safer than daytrading,so make a decision depend on your capacity

pokeronlinestatus

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Quote from: Mpamaegbu on June 09, 2018, 05:50:12 PM

Nah! It's not true that Techinal Analysis is bullshit. OP, you may justifiably tweak that title a bit to encompass, "Not totally accurate" As someone who looks at charts myself, I have come to believe that because of so much FUD in cryptocurrency the TA is most likely to fail. This industry is driven by FuD or FOMO and this rubbishes TA. In forex trading, it isn't so. TA rules.

Quote from: Alns on June 05, 2018, 09:46:25 AM

I believe that technical analysis can be useful in those days but the market is so volatile that we should rather rely on luck

Dude, relying on luck is gambling and not trading.

No, technical analysis is not bullshit and not useless; it plays its function in the market and encourages people towards the market. The technical analysis let us know what is going on in the market and from which stages the market is suffering. Technical analysis helps us a lot to know more about the market and the future market. Do not consider it useless and focus on your investments.

clickerz

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Quote from: apimembership on June 09, 2018, 08:13:46 PM

Technical Analysis and Fundamental Analysis should be considered together , not seperately. TA is just a way to interpret the market behaviour and give us some clue. You cant expect TA to tell you exact future everytime. FA and TA should be analyzed carefully but at the end you would decide what you should do.

Yes, Technical analysis and Fundamental analysis is just a clue or hint for a possible price changes. This must be a part of your own research. Though the result is not a full basis for decision making its just a guide to minimize losses. But when the market is manipulated, TA and FA is useless.

rainezerr401

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

There is no accurate prediction for the price of cryptocurrency but you can always rely on different speculations in order to boost up your confidence on investing a huge amount or make the right decisions in the future.

CRYPTON0101

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The goal always to maximize investments..The current bearish crypto currency market will take the upward trend. Investing in crypto requires analyzing hundreds of channels, social media, market data as well as mathematical models to find the diamond in the rough. Its good to have a sticky note somewhere when we can see it, so we contain ourselves from panic mode or greed in bullish markets. Crypto is affected by low trading volumnes and crypto soars when exchange rates. Stay in the loop stay focused

Bonsaiav

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.

TA is just a tool or media that will help us in analyzing market developments that occur at the time or also can be said collection of active summary of cryptocurrency activities, so far for those who are experts in using them able to manage the risk of trading well. Both in the event of a decline as well as an increase it's also often used by them to strengthen its predictions

iram3130

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Its not complete Bulls**t, but in the bearish market as its going right now, technical analysis wont be helpful. Right now everything depends on Bitcoin and how it will move in the next weeks.

newwest

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Quote from: btcblockchain on June 14, 2018, 12:05:19 PM

the technical analysis is nt bullshit but the crypto market is growing as of now the market is improving in terms of volume and investors so the market reaction for news will be speculative in nature

Technical analysis is useful and give you a direction where the market is heading towards. Though in crypto currency due to such a volatile market it may not be always accurate and also speculation sometimes makes it more difficult for the technical analysis to go right.

btcblockchain

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the technical analysis is nt bullshit but the crypto market is growing as of now the market is improving in terms of volume and investors so the market reaction for news will be speculative in nature

Mpamaegbu

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Quote from: Fatunad on June 14, 2018, 10:24:30 AM

Stop loss is always been recommended into this cryptomarket and as a trader for you to avoid on being burned in the end.

I rather tether than use stop loss in crypto trading. I believe stop loss here is highly inconsequential. Why use SL when you can just have a wait for price to revert, whenever. Accounts hardly go into margin call except where a coin is delisted from an exchange. In Forex SL is necessary but in crypto it's optional. That's how I see this anyway.

darth_cryptorider

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Technical analysis working but not always as you expected. That's way beginners always complain about technical analysis, you need to see the bigger picture. You cant trade only from one indicator or 1 strategy you must see major variants and possibilities for price moving. And don't forget that sometimes whales just manipulate the market.

Hell-raiser

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

It doesn't work consistently even on regular markets, let alone cryptocurrencies. There are basically two ways of making money in any market (unless we include pure luck). The first you already mentioned, and this is using fundamentals (like, for example, in crude oil and other commodities). The other method comes down to milking the market somehow by using arbitrage, insider info, front running (if you are an exchange or market maker), or whatever other methods and instruments exist that I'm not even remotely aware of. As you can see, TA doesn't belong to any of these two categories.

genolica

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Why? This is the technique people who are good in crypto. I don't know, there were some people whose bad at it. And there were people that were good. Up to you where to believe.

Fatunad

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Quote from: naidray on June 12, 2018, 01:37:31 PM

Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

TA still works in cryptocurrency but 80% of the time is bullshit and your best bet is to always use your discretion with a very tight stop loss most of the time before making a trading decision.

This was what exactly brought me to the idea of a huge manipulation in the crypto space but I am not surprised since much of that should be expected in a new environment that is completely decentralized in a way, and sometimes, it is more like the whales always love giving the traders wrong signals, and once they hit the market, they gain a lot from stop loss being hit.

Stop loss is always been recommended into this cryptomarket and as a trader for you to avoid on being burned in the end. The thing i do like when i do trade up on here is that you wont able stop your negative floating which is unlike on forex once balanced or usd account is depleted it would automatically cancel out an order and leave you a burned account which do differs on here. Once you bought even though its negative as long you arent selling it its still not considered as loss. Technical analysis isnt bullshit but there are really times or most of the times it doesnt really work on what you are expecting.

blindminer

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Quote from: BitHodler on June 09, 2018, 07:42:06 PM

Quote from: Mpamaegbu on June 09, 2018, 05:50:12 PM

This industry is driven by FuD or FOMO and this rubbishes TA. In forex trading, it isn't so. TA rules.

It perfectly shows that it all comes down to how many equal minded entities there are in a certain market, which definitely applies to forex and to a tiny lower degree stock markets.

I must however point out that currently there isn't all that much fud and fomo going on in the crypto space, which means that it will allow TA to become a useful indicator, and the firm range pretty much confirms that.

There are less noobs trading right now, and less noobs dumping for no reason. I like how calm this market is and hope that it will last for a longer while. Sending $100 worth of Bitcoin today means it is still $100 next week.

How can someone dislike that?

I guess you are in the market for a while and don't have challenging goals set for this year (example: financial freedom) otherwise you would not like stability as it is a trade killer but I agree that the growth we saw in december last year was simple not sustainable

Itjoker

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I don't agree with the opinion that technical analysis is bullshit. Of course it is not easy to predict coin price, but you can achieve excellent results if you use technical and fundamental analysis in aggregate. Because only technical analysis will help confirm the entry point to the market and point to a more favorable time for it. And fundamental analysis can provide an opportunity to choose right asset for buying.

naidray

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

TA still works in cryptocurrency but 80% of the time is bullshit and your best bet is to always use your discretion with a very tight stop loss most of the time before making a trading decision.

This was what exactly brought me to the idea of a huge manipulation in the crypto space but I am not surprised since much of that should be expected in a new environment that is completely decentralized in a way, and sometimes, it is more like the whales always love giving the traders wrong signals, and once they hit the market, they gain a lot from stop loss being hit.

IggySe7ven

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If you really know how to trade, then it is not bullshit because you are gonna make a lot of profits because of your chart reading skills, and trust me, it is good enough for a starter.

alan2here

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Quote from: developer4z on June 02, 2018, 01:49:54 PM

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

Technical analysis is a necessity in making investment decisions or speculation. I think you have not yet passed a standard class on investment. You need to spend more time to learn and read more before investing.
Theory is essential to this work. You need to improve your knowledge as much as possible.

coffigayo

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Technical analysis works with any asset that has a chart to show its historical price. The only problem with technical analysis and crypto is that, the majority of traders rely on speculation to determine their prices rather than on technical analysis. That just keeps us trapped in situations like price dumps. and it makes the head feel as if it will crumble making its own analysis by holding on to some predictions will be better than RSI.

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