Say NO to voodoo analysis! - page 3.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: abs350 on October 21, 2014, 05:36:13 PM

agreed, this "analysis" is 100% bullshit.

there is only 1 analysis that is necessary: there is too much analysis

there are still too many people interested in bitcoin, too much hope and too much false optimism around. that's all you need to know. forget the astrology, "indicators", moving average hype bullshit.

bitcoin has had its day, and its day was in november 2013. that day has now passed and it's a long way down.

dont waste your time with any of this "TA". the only relevant fact is that bitcoin is over-traded and under-utilized. that means its a prime short.

call me falling ok, but that's my position

you're in for some surprises if you expect bitcoin to fade away like that

abs350

full member

Activity: 481

Merit: 102

agreed, this "analysis" is 100% bullshit.

there is only 1 analysis that is necessary: there is too much analysis

there are still too many people interested in bitcoin, too much hope and too much false optimism around. that's all you need to know. forget the astrology, "indicators", moving average hype bullshit.

bitcoin has had its day, and its day was in november 2013. that day has now passed and it's a long way down.

dont waste your time with any of this "TA". the only relevant fact is that bitcoin is over-traded and under-utilized. that means its a prime short.

call me falling ok, but that's my position

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: colour on October 21, 2014, 04:30:06 PM

"Technical" analysis is so prevalent in all the bitcoin related communities that newbies may get the impression that the majority here is actually trading according to it. That is not the case!

Voodoo indicators (e.g. 3d Ronald McDonald Indicator, Random Squiggly Line Indicator, etc.) will not predict price movements! They do not guarantee successful trades! Don't fall for the deceptive words of the snake oil analysis high priests!

It's mostly just a bunch of esoteric shenanigans trying to make itself appear slightly less ridiculous by masquerading behind the term "technical". That one guy on r/bitcoinmarkets is at least honest and flat out admits that he trades according to astrological constellations. May I suggest some tea leaf reading instead? Or how about analysing the flight of the swallows? 100% trading success guaranteed, follow me on twitter and subscribe to my blog for only $29.99/month. I'll throw in a fancy feather crown for free!

None of those silly indicators predicted the series of massive drops we have seen in the past months. Instead, the false prophets on reddit would announce each and every time how all their indicators are pointing towards a great buying opportunity right before each single massive dump. People probably lost a boatload of money if they actually listened to that nonsense...

First things first... NO ONE GUARANTEES THEIR ANALYSIS TO BE 100%.
Secondly, My charts have only had about 4 real longer hold signals since January. These aren't transfer to cold storage holds either, but longer than a few days. I trade a lot, but the longer term signals haven't been on the bulls side at all in 2014. The people saying all their indicators are pointing up over the last months, are just spewing baseless crap.

colour

full member

Activity: 152

Merit: 100

"Technical" analysis is so prevalent in all the bitcoin related communities that newbies may get the impression that the majority here is actually trading according to it. That is not the case!

Voodoo indicators (e.g. 3d Ronald McDonald Indicator, Random Squiggly Line Indicator, etc.) will not predict price movements! They do not guarantee successful trades! Don't fall for the deceptive words of the snake oil analysis high priests!

It's mostly just a bunch of esoteric shenanigans trying to make itself appear slightly less ridiculous by masquerading behind the term "technical". That one guy on r/bitcoinmarkets is at least honest and flat out admits that he trades according to astrological constellations. May I suggest some tea leaf reading instead? Or how about analysing the flight of the swallows? 100% trading success guaranteed, follow me on twitter and subscribe to my blog for only $29.99/month. I'll throw in a fancy feather crown for free!

None of those silly indicators predicted the series of massive drops we have seen in the past months. Instead, the false prophets on reddit would announce each and every time how all their indicators are pointing towards a great buying opportunity right before each single massive dump. People probably lost a boatload of money if they actually listened to that nonsense...

Topic: Say NO to voodoo analysis! - page 3. (Read 3561 times)