Is Technical Analysis or charting is accurate?

Victorycoin

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Quote from: xuan87 on July 02, 2017, 10:56:35 PM

Chart or technical analysis can be useful because there are pattern and some information from the chart but it can't be 100 %, if it can be accurate 100% all the exchanger can go bankrupt, but with technical analysis and chart you can increase your profit chance

Not a chance, technical analysis is objective! So that one trader might be seeing that a cup is half filled, while another is seeing things from the point of view that the cup is half empty, at the end of the day, their inference would differ on account of their dispositions, nevertheless, they converge along the line.

I must add here that T.A. are to a trader, what navigation aids are to pilots. Certainly, it won't be the one to fly the plane, its role is simply to guide, while you sit at control.

beerlover

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Quote from: Iranus on July 03, 2017, 11:15:10 AM

I mean maybe there was a little bit of truth in these patterns, but almost all of it is just technical analysts doing exactly what they expect the pattern to cause. If everyone agrees that a head-and-shoulders pattern is bearish, they start selling and then what they said becomes true.

This is how a trading methodology must work, if you do not take the decisions most of the traders are talking then you will be out of race. Patterns will show the market sentiment, if we want ride along with ups and downs of market then we should react to those patterns.

There is no meaning of calling them dump. Without them you will never able to predict accurately all the times unless otherwise you are an extremely lucky person.

Iranus

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Technical analysis is extremely dumb. It's basically a self-fulfilling prophecy.

I mean maybe there was a little bit of truth in these patterns, but almost all of it is just technical analysts doing exactly what they expect the pattern to cause. If everyone agrees that a head-and-shoulders pattern is bearish, they start selling and then what they said becomes true.

There are a couple of real things which could mean something, like volume, but fundamental analysis is the only thing that's really meaningful here.

aTriz

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Quote from: waiberz on July 02, 2017, 07:36:17 AM

Just to ask you guys is Technical Analysis or charting can be benefit?

Can it be beneficial? Yeah, definitely.

But the problem is a lot of people blindly believe in charts and technical analysis. They see trends that have happened in the past and seem to believe that in the future everything will be the same. The assumption is that what has happened in the past will definitely happen in the future.

Charting does not take into account a lot of human factors, rather it only looks for shapes and patterns. Some long term patterns are evident, for example halving drives price up. But a lot of short term patterns aren't based off anything logical, but rather just observations.

If chart analysis can be used alongside your experience then sure, it will be of enormous help. I'm not here to hate on charters.

coynedterm

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Quote from: waiberz on July 02, 2017, 07:36:17 AM

Just to ask you guys is Technical Analysis or charting can be benefit?

I think technical analysis can be better for us because the main reason is that technical analysis most of the times made us more impressive because with the technical analysis we can make small.surity that the amount of the money in the particular investment will be profitable .
Here when I get started with the trading then I found that after the investment in the high price coins , I am.getting loss only .
So from.that day before investment I made history analysis of the coins of 1 to6 months and determine in mind whether the price is at high rate or less according to the average curve .
With such types of analysis , I made investment in sib , pxi , pxl , creva , dgb , Pak , blry coins and I get up profit with the amount double .
That was the result of the analysis and small investment in many coins with small trading risk .

xuan87

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Chart or technical analysis can be useful because there are pattern and some information from the chart but it can't be 100 %, if it can be accurate 100% all the exchanger can go bankrupt, but with technical analysis and chart you can increase your profit chance

BigBoy89

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I don't technical analysis is accurate at all, especially applied to any alt coin. Maybe at 10% for bitcoin. Just bitcoin/altcoin trading involves much more different factors than traditional trading. Imagine you are making analyze and then some on the many pump and dump groups makes an attack? Then analyze become completely irrelevant.

Pearls Before Swine

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Quote from: EthBooks on July 02, 2017, 08:14:04 AM

Beyond mathematics frequently describing the tendencies of markets, there lies the "dark arts" of technical analysis where people use the human eye to spot things like head and shoulders, double tops, flags, blah, blah, etc. Humans are great at spotting patterns, and given random noise will often find patterns that don't really exist - the face on mars, for example, or people looking at clouds, or the odd things mariners see out at sea.

People using TA on charts are making use of that skill to find patterns that may or may not exist. Is it reliable? No.

It's absolutely not reliable. Look at lists of the richest people in the world, and you point out to me how many of them are technical analysts. Zero. That should tell you something about TA. It's nothing but voodo pseudo-math, pseudo-science crap. It's trying to predict what prices are going to do based on what they've done in the past, and to my knowledge that's been proven to be faulty logic.

Victorycoin

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Quote from: EthBooks on July 02, 2017, 08:14:04 AM

Beyond mathematics frequently describing the tendencies of markets, there lies the "dark arts" of technical analysis where people use the human eye to spot things like head and shoulders, double tops, flags, blah, blah, etc. Humans are great at spotting patterns, and given random noise will often find patterns that don't really exist - the face on mars, for example, or people looking at clouds, or the odd things mariners see out at sea.

People using TA on charts are making use of that skill to find patterns that may or may not exist. Is it reliable? No.

I don't see any link technical analysis has with dark arts and people only run into some difficulty with them when they seek to make holy grail out of them, but what they are really setup for is simply to suggest a clearer picture of what's going on in the market and so be in a better position to make informed trading decisions. A good workman hardly have issues with his tools, but a lazy workman would always pass the bulk to their tools!

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Quote from: gabbie2010 on July 02, 2017, 01:10:52 PM

Technical analysis most of the time are accurate the reason is that price always repeat itself as history mostly charting analysis using Japanese candlestick always accurately predict price direction although the formation must be formed at a certain zone e.g at support or resistance. price action must also be considered in charts analysis.

Are you sure about this? If we look at most of the charts, no price pattern not always repeat specially for cryptocurrencies. Support or resistance is just some made up figures by analyst who have only considered past price patterns which might not always work, they also consider current bull wall and sell wall to point out support and resistance level which might only last for few hours.

In overall all technical analysis out there are just an art made on graph paper by trading enthusiasts to attract daily readers to their blog/sites. Grin

gabbie2010

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Technical analysis most of the time are accurate the reason is that price always repeat itself as history mostly charting analysis using Japanese candlestick always accurately predict price direction although the formation must be formed at a certain zone e.g at support or resistance. price action must also be considered in charts analysis.

raven7886

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Quote from: que91 on July 02, 2017, 12:58:17 PM

You can understand Technical Analysis and Chart are miniature version of the market picture, all mentality of trader are show by chart and candle. And when you have all data about market from this picture, you can use your brain with Technical Analysis to guess the trend in next time, can long-term or short-term by your want and time frame you used for checking

Yes, in my expediencies both are important rather than going with only one. A trader must look into having multiple options to trader better compared to looking for shirking the technical part to save time. I mean we must spend more time for technical analysis by working on both charts and different indicators so that we can get good results with trading. Time is money in trading too. If we spend more time for research and analysis then the struggle against volatility will be less which may help to make big profits easily.

que91

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You can understand Technical Analysis and Chart are miniature version of the market picture, all mentality of trader are show by chart and candle. And when you have all data about market from this picture, you can use your brain with Technical Analysis to guess the trend in next time, can long-term or short-term by your want and time frame you used for checking

arpon11

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Quote from: waiberz on July 02, 2017, 07:36:17 AM

Just to ask you guys is Technical Analysis or charting can be benefit?

Technical analysis is very accurate if you can train your eye and mind to spot patterns and use indicators such as macd, bolligoband, stochastic ocillarator, relatively strength index, exponential moving average convergence divergence and overall, candlestick interpretation. All this indicators plus hammers, pin bar, morning stars, head and solders candlestick give you the in-depth understanding on how price of a particular commodity, coins and fiat is currently behaving base on traders reaction. I have been trading and study charts and I find out that any information you are looking for in a coins to make inform decision either to buy or sell is there in the charts.

DaMut

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Quote from: waiberz on July 02, 2017, 07:36:17 AM

Just to ask you guys is Technical Analysis or charting can be benefit?

both of them are same,charting is a technical analysis because using a technic to drawing a chart and connecting every chart into one using market data ( analysis ).of course,if it doesnt bring any benefit why would many people using this ?
but the more important thing is not this,but 'the dark arts'.
something like shilling and etc.

streazight

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Quote from: waiberz on July 02, 2017, 07:36:17 AM

Just to ask you guys is Technical Analysis or charting can be benefit?

Both can be beneficial. In my experience, when a trader is just focusing on only one technical area, chances to get profit is very less. If you are capable of combining technical analysis along with chart pattern recognition then you will be getting more chances to crack profits more easily from any type of trading.

When you will be using both technical analysis and charting, you will be getting double confirmation for your buying and selling price levels which is very perfect approach to have strong confirmation before making any positions.

PokerFace3

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Charting is part of technical analysis so I believe we cannot differentiate these two from another one. There are certain tools by which we can understand the behavior of market. It can be mathematical or pictorial.

Pictorial technical indicators are also nothing but mathematical based things but plotted in graph so that we can understand more easily.

Xavofat

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Did you see that ludicrous display last night?

Fundamental analysis is like your PE teacher at school telling you the best technique to play the game effectively.

Technical analysis is like you saying to that teacher, "yeah well I did it this way and I did WAY better!"

It's just trying to use the past to predict the future... I guess you could say it's "fundamentally" dumb.

EXtremeAEX

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Quote from: EthBooks on July 02, 2017, 08:14:04 AM

Humans are great at spotting patterns, and given random noise will often find patterns that don't really exist.

People using TA on charts are making use of that skill to find patterns that may or may not exist. Is it reliable? No.

This is true, sadly charts don't follow any mathematics law or anything, and most of the time when we see the price drop we would expect it to bounce back so we buy when it is *relatively* low, but then it always drops.

Whatever analysis may only predict to a certain extend, but stock markets or Bitcoin prices would not be predicted unless you know how the whole thing is manipulated which is very complex. Undecided

So, no, it is not accurate and you might lose instead of earning anything.

EthBooks

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Beyond mathematics frequently describing the tendencies of markets, there lies the "dark arts" of technical analysis where people use the human eye to spot things like head and shoulders, double tops, flags, blah, blah, etc. Humans are great at spotting patterns, and given random noise will often find patterns that don't really exist - the face on mars, for example, or people looking at clouds, or the odd things mariners see out at sea.

People using TA on charts are making use of that skill to find patterns that may or may not exist. Is it reliable? No.

waiberz

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Just to ask you guys is Technical Analysis or charting can be benefit?

Topic: Is Technical Analysis or charting is accurate? (Read 778 times)