Topic: Is Technical analysis bullshit? - page 5. (Read 901 times)

Technical analysis is not so important and you can simply run in the market by applying the market rules and principles. Technical analysis are independent on your work and role in the market so you do not have to go in complications but simply monitor the value before taking some action or decision. Give your focus to your trading and the market so that you will get success.

First of all, Technical Analysis cannot predict the future, but can only give a probability of how prices can move in the future (based on what happened in the past). But in my opinion, it doesn't work really well with cryptocurrencies, maybe with the exception of BTC. In the altcoins market its quite useless.

first people need to understand what TA is.
You look at the chart and say: "hey look, there is a trend going on".
congrats, you just made a technical analysis.

you obviously can't expect that throwing any indicator on the chart will give you a prediction of anything. If this was true nobody would lose....and nobody would win.

TA is like meteorology;
you observe the clouds, the wind, the humidity and than you draw a probable condition for tomorrow. Yea, sometimes the say it will rain and we'll have a sunny day. the are too much variables.
It's all about "betting" on probabilities. Actualy not very diferent from poker (and don't let them convince you that poker is all about luck)

I am a beginner in trading, but based on what I experienced up to now that news is more instrumental in helping me in buying coin, I used to do TA but all is almost wrong, I think it's because I'm new and cryptocurrency is fluctuating so the price is difficult in the guess.

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

sometimes analysis can not be made for a benchmark that will determine the price movement of crypto because I think the ups and downs of the crypto price can not be predicted completely. and sometimes the number of related news about crypto will affect the price movement of crypto because usually people will do activities in the world crypto that will tend to follow the development of news that is often heard from several media sources.

While I am not a TA fanatic myself, and don't see much value in it from my long term investor's perspective, it actually offers the very basics for everyone to start understanding a market. You can't say this or that will happen with the price without basing it on whatever form of TA. Traders buying Bitcoin without prior TA are straight gamblers.

In the end, TA always provides a better shot at profits, and that better shot will allow the more skilled traders (which are part of a minority) to end up with more profitable than losing trades. As long as you can end your trading sessions with more profitable than losing trades, you have done well. Guaranteed profits don't exist, you can only make sure that you position yourself correctly in the market, and that's what TA is for.

As I said, skilled traders managing to make profit are part of the minority. The majority of the people are only losing, which makes TA looks worthless, but it's just the nature of the game.

Technical analysis will give you prediction based data number/ graphic chart where the price will go depend your time frame. Every technical analysis has their own rules and purposes, do you understand that?. Second thing is open position/ take profit/ stop loss is your decision, you can trust your analysis or your faith. Don't blame the method because your asset is your action.

In order to understand the technical analysis you need to be a geek at least or have been studied somewhere

So I think it could be useful but every person should be deep in that and have a great knowledge of those principles

If technical analysis is completely bull shit, then how do you want to make trade decisions? Rely only on Fundamental analysis? Without TA, you apparently will not have a strategy, and without a strategy, you are sure just going to be gambling and that even puts any trader in a more horrific position.

The mistake we make most of the time, is to expect TA to give us 100% accuracy, but things do not work that way and most especially not a market that is decentralized and movement can easily be manipulated. One thing is that with your TA, always keep at the back of your mind, that a tight stop loss is still very important due to the market behaviour, but as far as I am concerned, it is either you are using TA or you are not trading at all.

TA has worked 60 - 70% of the time in trading bitcoin for me and that is good enough. Whereas, bitcoin movement is my main indicator I use to make decisions for altcoin market even if I want to get in at all. I have learned to rule out emotion completely and set a very tight stop loss in any case, or wait until I see a clear coast before making decisions even if indicators show good signals, that way, it makes it easy to stay clear any form of manipulation for the purpose of whale trying to trap traders, which I assume is always the case.

yes. don't ever look at charts (irony)

I agree with you, Technique analysis is trader's psychology. But their working regimes are not the same, i mean between crypto and Forex. So, in Forex you can not pump or dump the price, you have to have the world to do it, because market volume is much more than crypto. However, crypto is the opposite.

Technical analysis may be partially correct with Bitcoin. I find that the majority of altcoin is manipulated by sharks more than the effect of technical analysis alone.

I wouldn't say its bullshit we all know how very very unpredictable the market is, so its hard to rely on TA alone. We all know that its based on pure speculation and sometimes it goes on the opposite direction,

But there are times TA works like the MA (moving averages), some of the time you will see if its overbought so know what's going to happen next, sort of price correction along the way.

Yes TA actually does not work well in crypto trading because price action of crypto according to fundamental of the each coins, When the fundamental of each coin very strong like Pundi X , though already going up more than 10 times but look will continue up trend. But not all the times TA will not work, TA will usefull for day trading. TA is needed to know trend of price, without TA i think all trader can not determine support and resistance area. TA also will help to predict the price will continously follow the trend or will reversal.

technical analysis actually only helps you to help provide information about the approximate position to buy coins and estimated time to sell coins.

In the life of every trader and all those who are there in the world of the crypto currencies, this technical analysis carries a significance importance and that there can be nothing more useful than this as this helps you in having a fair idea of how the market value will be soon. all you need to do is to keep on learning as much as you can and that you must focus on improving your skillset.

TA might serve as guide for more relatively stable markets like btc, eth and litecoin which cannot be pumped easily compared to shitcoins where it is susceptible to pump and dump schemes. I personally don't believe that TA will work on cryptocurrencies as it is much more effective on traditional trading.

They are good, don't doubt in that, they are based on history. Can history be uses for predicting the future, don't relay on that.
Can you invest money in bitcoins today and to make 30% profit in a week? Check technical analysis to see is something like that happened before? You can check technical analysis for possible price movement patterns, and that should be like confirmation for prediction you already have.
When you trade with crypto relay just on yourself and try to have back up plan for every possible situation. Make your prediction on more than one thing, news, technical innovation, big things like selloffs are, check are news are true or false, then check technical side and than make your trades.