Is Technical Analysis Bullshit or Not? - page 9.

Ucy

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Technical analysis and day trading are memes. Try them and give your money to bots and whales.

This is somewhat true especially with coins controlled by few Whale traders on selected exchanges. Technically analysis still work a little bit with Bitcoin and sometimes with some top altcoins.
There are very few technical indicators that may work on coins controlled by few whale traders.

LogitechMouse

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Technical analysis isn't bullshit. It is just a basis into where a market will move.
Well, TA is not 100% accurate so don't expect too much on it but to be honest I see some experts traders that are relying on TA.

bitbunnny

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I think that that depends how is your approach to technical analsys. It's important not to take it too serious and too exact, more like a general information and guidline. Technical analisys shouldn't be something that you will base your investment decisions because that might lead you to the wrong way. But it might be helpful if you combine technical analysis and other sources of information.

DoublerHunter

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Nah, that is not bullshit if you have to understand, only bullshit people who did not understand and say that word. Technical analysis will work by having an analysis of historical data statistics to forecast future price movement. It is a great indicator when you are in trading and more or less you can use as a reference to take profit. It also a big help to the traders of being anticipate what is likely to happen to prices over time. So, I think that is not bullshit for me.

Black Coffee

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technical analysis is a way of how we measure the short-term possibilities that will occur in the future, if our analysis does not match what we predicted,
maybe our knowledge is lacking, or maybe market sentiment has changed. but that's all we can do, we cannot predict 100% accurately. and that is common in the stock market or cryptocurrency. so grow up. and watch your step

Jating

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Quote from: Julien_Olynpic on August 19, 2019, 09:56:38 PM

Technical analysis is everything. Even a simple look at the graphs can also be a technical analysis. This is a huge number of techniques. But newcomers most often think that technical analysis is an indicator. They think that if you put a lot of oscillators on the chart, they will find something special.

Everyone can really do technical analysis, just line up something and draw some graphs, and there you have it, you can find the pattern and predict the future price of bitcoin. However, it is more than that, I mean there are so called experts who totally rely on technical analysis.

So I wouldn't say it's bullshit or something, definitely something you can find it very interesting specially if you hit your prediction, however, its not guarantee that the pattern will always works. Most of the time, the sentiments of investors takes over the market.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Thirdspace on August 19, 2019, 06:11:11 PM

you can't use TA and expect to predict market 100% accurate, it's impossible unless you are a clairvoyant Cheesy

If they were clairvoyant in the first place then they would never do anything wrongly from their visions and thus they wont be complaining. Such a thing does not exist for obvious reasons. Cool

I think people need to understand that TA is not a fullproof indicator for the profit or loss. Rather it should be thought as a mode of studying the market to get an estimate about the market psychology. Doing TA makes you good at predicting but they will never be 100% correct because that would become something ideal. Since the market is prone to get affected by different types of news we should use TA with caution.

Julien_Olynpic

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Technical analysis is everything. Even a simple look at the graphs can also be a technical analysis. This is a huge number of techniques. But newcomers most often think that technical analysis is an indicator. They think that if you put a lot of oscillators on the chart, they will find something special.

crzy

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Quote from: sandrozc on August 06, 2019, 04:13:38 AM

Interesting post (great for beginners) detailing 3 premises to understand what technical analysis is and how the crypto market works https://www.publish0x.com/crypto-chart-wizard/technical-analysis-bullshit-or-not-xlzvwm

There so many things to learn about technical analysis, its not bullshit until you learn it and its worth it if you do spend time learning the TA. Some TA are useless, because of the volatility in the market especially on short term so if you want to use TA and depend on that, then better to use the whole year chart.

Thirdspace

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it's not bullshit if you know how and when to use it, you can see signs and patterns
you can't use TA and expect to predict market 100% accurate, it's impossible unless you are a clairvoyant Cheesy

you should also take into account the news and psychology of the market
even then you still can't predict 100%, that's why traders have cut loss Grin

sana54210

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The problem is "even a simple RSI" can be super wrong if you look at the at the wrong time. When its super overbought and looks super bearish one huge news can broke up or one crazy investor can come up and buy half a billion dollars worth and increase it.

This is not stocks or forex where regulations make it difficult to get into it difficult, its quite easy, you send your money to an exchange and then you buy as much bitcoin as possible, if you do it only in one exchange then the arbitrage people will take care of it in other places as well (while making a healthy profit).

Hence, Simple RSI can solve nothing, it means nothing, it all depends on the craziness of the investors, it could look like its going to skyrocket and everything for a bull run is perfectly ready but then some crazy dude could sell all his bitcoins and drop the price down.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: nydiacaskey01 on August 15, 2019, 06:09:48 PM

even a simple RSI can help you not to buy those that are over bought.

True, but then not every time is technical going to help a trader. Most of the time you can use it to guess what the market is going towards but many times you will be wrong.

TA only predicts on the basis of current stats and previous stats. It is not an absolute prediction and thus it more like a 50-50 game. I would not say its is BS because it has its uses. Because some trader loses money after following a certain TA does not mean that the latter is BS. People should attempt to develop TA on their own using software and predictions based on them.

thunderbitz2717

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Quote from: sandrozc on August 06, 2019, 04:13:38 AM

Interesting post (great for beginners) detailing 3 premises to understand what technical analysis is and how the crypto market works https://www.publish0x.com/crypto-chart-wizard/technical-analysis-bullshit-or-not-xlzvwm

Technical is not a bullshit it can be a tools actually for us to earn bitcoin or crypto. But take note that technical analysis is not an 100%
precise, as long as your analysis is right it can give profit but if your TA is wrong it can also push you into wreck situation. Therefore, never depend your method in technical analysis 100%, it is better to depend on the actual happening in the market.

dat.ho12492

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Quote from: omonuyak on August 16, 2019, 03:20:23 AM

Quote from: Greed Dev on August 15, 2019, 11:10:58 PM

This article is interesting. It helped me to better understand TA, I mistakenly thought that TA always helps the wealthy traders naturally.
This is wrong, TA only helps us choose a good time to buy at a good price at a time.
Thanks, this article was very helpful to me.

Technical Analysis help us decide the trend and where the price will possibly reverse direction. Any successful traders most used TA and depending only on fundamental analysis alone will not really helped. We have to see naturally trend reversal from the position of support and resistance level on the technical chart and this is really proof that technical indicators are the heartbeat of successful trading.

More precisely, we should say that technical analysis gives us a perspective, some images may be related to the future through numbers, through charts because these charts clearly show everyone's psychology and desire, it even shows the movement of capitalization, and if we take advantage of these signals, success is in our hands, many people have shown their success by technical analysis. If the technical analysis has no value, it will certainly be removed soon but no, it still exists over time and is more popular.

qweqwe2121

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TA is a Method, Basis, or Tool used by Traders as their reference in Trading where the tool is as a Support. Here I am not saying TA is certainty in trading. But here I will say TA is a tool for Traders in reading the situation.

omonuyak

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Quote from: Greed Dev on August 15, 2019, 11:10:58 PM

This article is interesting. It helped me to better understand TA, I mistakenly thought that TA always helps the wealthy traders naturally.
This is wrong, TA only helps us choose a good time to buy at a good price at a time.
Thanks, this article was very helpful to me.

Technical Analysis help us decide the trend and where the price will possibly reverse direction. Any successful traders most used TA and depending only on fundamental analysis alone will not really helped. We have to see naturally trend reversal from the position of support and resistance level on the technical chart and this is really proof that technical indicators are the heartbeat of successful trading.

hulla

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Quote from: lixer on August 15, 2019, 11:41:02 AM

Quote from: bisdak40 on August 13, 2019, 07:08:26 PM

Understanding Technical Analysis is not an easy task. I am trading for quite some time now but still i got the hard time understanding and tend to believe that is bullshit. I know that if a person could interpret a TA, he is bound to accumulate wealth in the trading business and hope i could be one of them in the future.

It looks bullshit to you because you don’t know how to make use of technical analysis which is the same way it will look to me also because I feel that technical analysis is just too complicated kind of and you have to stay on system to read on manner of indicators for you to arrive at a point, but we really have some people that are so good that both in the long run and short run, they know how to use TA like crazy.

There is this guy’s post I saw today which he posted on the 12th, and he had advised people who are doing sorts to sell then and then buy back at $10500, with a screen short of his technical analysis cart backing up such prediction, and he was actually right, he predicted accurately and the price even wet a little bit below that which I know that anyone that took his advice will make some money.

Firstly, technical analysis is not crazy but broad which why some people see it as something crazy and it will be difficult for someone some people to understand cause we can't all be a crypto day trader. However, the guy mentioned that advised people to buy tried but to me, such prediction doesn't even need any analysis if you're someone that follows the market very well.

Greed Dev

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This article is interesting. It helped me to better understand TA, I mistakenly thought that TA always helps the wealthy traders naturally.
This is wrong, TA only helps us choose a good time to buy at a good price at a time.
Thanks, this article was very helpful to me.

tippytoes

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Quote from: fabiola! on August 06, 2019, 06:22:51 AM

people who dont understand technical analysis say its bullshit

people who dont understand investing and trading say investing and trading is a bullshit

here is the reality none of the trading system is 100% accurate

people who understand and practice the analysis will make money , i my self making profits using technical analysis

just ask yourself how much you have learnt and practised technical analysis , dont believe in this post you will get 100s of posts saying technical analysis will work and will not work , and knowing other things on whats going on with market is also important

TA will help you one way or another in making decisions in trading. They might not be accurate but it will help you in analysing the trend of what's going on. To put it simply, you are not dumb of what's going on in the market as you know the basic know-how in trading. So I would not call it as a bullshit knowledge. I just don't like those people who are very arrogant with their speculations in trading using their TA skills and later on, nothing ever comes true.

nydiacaskey01

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When I started trading, I don't believe in technical analysis, I just pick from the list which one is red, buy and wait till it turns to green then sell. However, after a few losses, it changed my mindset to check indicators first before buying. FOMO will not get you to anywhere near your target. Lear how to use TAs even a simple RSI can help you not to buy those that are over bought.

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