Tired of all the bullshit charts people spread...

Pearls Before Swine

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Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

Yes I have seen charts like that and yes I'm tired of them...tho I tend to summarily ignore most of them and the inevitable commentary by whoever made them. I don't believe in technical analysis as a rule, so all of these teacups and death crosses and what have you just make me scratch my head. What they all come down to is the belief that past prices are going to determine future prices. That might work when there's price momentum, ie, when the chart is basically a straight line over a period of time, but I don't think all of these indicators have any validity.

You know why there are so many TA traders in crypto? It's because fundamental analysis doesn't exist. There is no way to determine at what price bitcoin or any other coin should be trading at. Supply can be predicted but demand cannot be. The only thing left to do is to look at charts and infer some meaning. I truly wonder whether TA traders are making any money based on those charts.

panganib999

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I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Like most of you, if I find myself in a strategy that's too muddy, I start drifting.

Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.

So I keep it simple.

I make it easy for myself to stick to my strategy because I know firsthand what happens when you don’t…
It’s not pretty.

Are you tired of these tea leaf charts?

[/quote]
These fake charts are really good at giving crypto enthusiasts a hard time especially those who use charts as a reference in their trading and investment strategy. This could lead traders and investors into confusion and end up losing their assets because of the bullshits that they are spreading. Not very helpful at all and is highly destructing for those who uses technical analysis.

btc_angela

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Activity: 2660

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Quote from: jquan on October 27, 2019, 08:59:27 AM

I have a different thinking, is that influencers that are posting charts are actually influencing market.

Obviously, they are called influencers because of that. The problem is that there are a lot of newbies falling for their trap.

Quote from: jquan on October 27, 2019, 08:59:27 AM

Especially with so many automated bots and trading advice solutions.
If the bots are following the influencer then it can have an impact.

Then if all of the other influencers post charts on the main influencers it can have an effect.

Bots are being harnessed by everyone here, not just manipulators or influencers. But you are right bots have been predominantly in the ecosystem now that it can have a big impact on the market.

jquan

newbie

Activity: 8

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I have a different thinking, is that influencers that are posting charts are actually influencing market.

Especially with so many automated bots and trading advice solutions.
If the bots are following the influencer then it can have an impact.

Then if all of the other influencers post charts on the main influencers it can have an effect.

Muzika

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Activity: 980

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Do not relay on the TA of others, you should start looking it by yourself a good trader can trade with the present market condition and can make a profit over it. Some chart will lead you to profit loss so do not engage in believing other's chart or TA.

Coyster

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Quote from: stadus on July 29, 2019, 05:24:12 PM

You don't have to, chart are based on their own analysis, of course you can make your own and just disregard the chart if you don't agree with the TA.
The market is full of speculators and experts, but that does not mean they are right all the time and we should follow them, there's nothing we can rely but ourselves and we should trust out own.

Exactly what the OP needs to understand, there is no need getting into arguments with someone about his or her own strategies, as long as its working for that person and you're not compelled to follow suit then it's fine.
That's not to say trading strategy works all the time or is reliable, but if you have tried out a particular one, and you believe it works for you, then keep using it, it will help build your confidence in trading.

maxreish

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Merit: 326

Expert traders uses different lines because each lines has a meanings like resistance, etc. They know what they are doing, expect some difficult indicators. But hey, for me I simply used 2 indicators. Moving Average and RSI, it works fine. The simplier, the better. Nevermind those technical analysis which complicates your trades. The important is that you are benefiting from your own TA.

stadus

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You don't have to, chart are based on their own analysis, of course you can make your own and just disregard the chart if you don't agree with the TA.
The market is full of speculators and experts, but that does not mean they are right all the time and we should follow them, there's nothing we can rely but ourselves and we should trust out own.

ethereumhunter

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Activity: 2912

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Leading Crypto Sports Betting & Casino Platform

That is what you will get in your research. You will see so many charts from many people, and you need to analyze one by one of the charts so you can find what you need. Besides that, I think you can get more information related to the market so you can decide to buy or sell in the market or just watching the price moving around. I don't feel tired of watching the chart because that will give some guidance for me to decide.

BuxCoin

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Merit: 251

i have also seen many charts where all indicators are filled , if we ask that traders they say that it will increase accuracy and keep on filling shit

leavolnhals

full member

Activity: 770

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Yes, I see a lot of fomo people with very bad projects because they want to sell at a high price. It's some kind of people who only buy coins with fomo and I don't like that kind of investment, it's very lacking in practicality and science.
To avoid losing time and money, make your own strategy and make a lot of money from it. Don't care about things that are still different and distracted.

Ararbermas

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Activity: 2016

Merit: 283

Don't rely on some chart around the internet. because It's useless and sometimes ppl nowadays just spreading rumors about the future of growth rate. So you should make your own technical analysis which is to assure everything will be alright and educate your self more about that.

RapTarX

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It's not their or others issue. If you don't like TA, why you bother to check them. TA is a good indicator of having an idea of movement. TA has a lot of tools, learn these if you don't want to see the complicated waves.

Little Mouse

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

Technical analysis sometimes works and sometimes fails. Bur that doesn't mean it's bullshit. TA is very much needed if you are trading on a regular basis. You can predict the market if you understand and use the strategy properly.

ryzaadit

legendary

Activity: 2660

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TA makes a confirmation for the news, its the news react to the market or not. To be honest, I really don't care about TA for me Fundamental Analysis better than TA. Because we can make a speculation a long time ago than TA.

I got some short experience, see some people using a TA. Because of TA its always make people confused to make decisions, not every TA user always have the same prediction that's why i think just wasting a time if you going too long trade investment. TA only good for a short trade, but also you can get rekt by short trade with a high volatility cryptocurrency.

Naida_BR

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Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Today I saw one the most ridiculous charts I’ve ever seen.

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

I wish I thought to screenshot it, it was truly comical…

The guy defended his masterpiece saying that each and every one of those indicators and lines were absolutely critical for deciding to take the trade or not.

Calling bullshit on that.

I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Like most of you, if I find myself in a strategy that's too muddy, I start drifting.

Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.

So I keep it simple.

I make it easy for myself to stick to my strategy because I know firsthand what happens when you don’t…
It’s not pretty.

Are you tired of these tea leaf charts?

You are right but partially.
Many of those charts are bullish but don't forget that every investor has its own opinion and conclusion about a chart movement. If the analysis is totally wrong then you are right. But if they rely on some facts then they have every right to spread and tell their opinion to the community.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

I see those people bombarding the forum with charts that are not working as very lousy fellows just trying to create unnecessary post to look relevant and get merit. I have seen one particular guy on this forum that has dropped series of charts and none of the chart has predicted accurately, the chart has been nothing but failure. One thing I have realized is that Technical Analysis is quite difficult to use with cryptocurrency, especially when the market is quite too volatile.

I have been trading since the time of Forex, and I know that technical analysis do work for Forex and works more when mixed with fundamental analysis, but in crypto, most time you try to use Technical Analysis, that is when you see one particular fundamental factor that will override it.

exstasie

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Quote from: pixie85 on July 26, 2019, 03:52:21 PM

Every chart will look stupid if you add all the indicators one on top of the other. Usually people are choosing 3 or 4 and staying with them. Like moving averages + ichimoku + volume. There are some indicators that rarely work like eliott waves.

I take exception with that conclusion. Wyckoff and Elliott helped my trading tremendously over the years.

As with TA in general, there are a lot of crappy Elliott Wave practitioners. In particular, many analysts seems to use it in a predictive manner, making assumptions about what will happen before patterns are complete. As they are proven wrong, they make the additional mistake of getting married to their EW count. This is similar to letting losses run on trades.

In other words, EW practitioners are prone to the same mistakes that all traders and technical analysts make. Most traders lose money too.

jrrsparkles

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Today I saw one the most ridiculous charts I’ve ever seen.

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

I wish I thought to screenshot it, it was truly comical…

The guy defended his masterpiece saying that each and every one of those indicators and lines were absolutely critical for deciding to take the trade or not.

Calling bullshit on that.

I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Like most of you, if I find myself in a strategy that's too muddy, I start drifting.

Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.

So I keep it simple.

I make it easy for myself to stick to my strategy because I know firsthand what happens when you don’t…
It’s not pretty.

Are you tired of these tea leaf charts?

if you are not capable of analysing all the indicators in a chart doesn't mean that it is shit some people are ready to do all kind of analysing to increase their chances of making profit but it doesn't necessary to make profit even with few indicators we can make profit and it all depends on our skills and doing trading.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Today I saw one the most ridiculous charts I’ve ever seen.

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

it's a common mistake made by novice traders. they think more indicators and lines = more success. in reality, indicators/oscillators are just derivatives of price. so if you can learn to read price action itself, using any number of indicators is just redundant.

candlestick or bar charts, horizontal S/R and pivots, and volume is all one really needs. much more than that and the waters start getting muddied.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Calling bullshit on that.

Are you tired of these tea leaf charts?

Maybe bullshit on your part but to them those are the analysis they had made and just respect onto those things.We have our own ways and its up to
you if you do follow or not on whats being suggested.You would really have a headache if you do try to look those charts without even knowing on whats those lines
are all about but if you are knowledgeable on what indicators being used then you wont see this as a big issue.

pixie85

hero member

Activity: 2184

Merit: 531

Every chart will look stupid if you add all the indicators one on top of the other. Usually people are choosing 3 or 4 and staying with them. Like moving averages + ichimoku + volume. There are some indicators that rarely work like eliott waves. Some people even make up their own like that hyperwave theory that's getting popular with bitcoin.

Don't overthink other people's charts - use your own!

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

You saw that chart as annoying because you have no idea what's are those lines for.

Technical analysis is one of the references in making future strategy, at least by the majority of real traders (not those who are posting I buy @ .. but in reality, they didn't really buy lol.) In the volatile world of crypto, at least you don't just trust a pure instinct when deciding for the right time to buy or to sell.

To make this short, if that strategy worked for them effectively in the long run, then so be it. Why putting up so much concern about those considered bullshit charts for you.

jquan

newbie

Activity: 8

Merit: 0

I agree totally with @TS

You cannot predict bitcoin when the market share is being controlled by 5% who are shorting the market as they please.
The whales are honestly laughing at everyone. (and there is even a video of it)

Its an unregulated market, there are no rules to trading, so what can you really expect.

The tools you need for the job are:

1. Whale alerts that can track hour by hour (transactions that are occuring)
2. List of exchanges (money coming in and out) but on an hourly basis.

http://cryptoflow.vip can do 1) and is working on 2).

Anything else, make friends with whales or friends that know whales.
Then when they pull out, you can too.
When they buy, so can you.

beerlover

legendary

Activity: 3052

Merit: 1188

Unfortunately, the chart world is not prepared for something like bitcoin and it shows a lot in here as well. People have used these charts in stuff like mainly forex and a bit of stocks to calculate because what the previous performance shows usually happens again later on.

That doesn't happen in bitcoin and they are shocked when they learn about it. Like sma20 went over the line for 100 days!! well duh, it is bitcoin it can do whatever the hell it wants. Past performance doesn't reflect on future performance for bitcoin and that is not something chart readers and technical analysis are used to and they expect bitcoin to do the same thing and when it doesn't they don't know what to do. They always claim they have the best charts because it did the same thing for once or twice but eventually they fail no matter what.

ophyrim

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Activity: 994

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Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Today I saw one the most ridiculous charts I’ve ever seen.

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

I wish I thought to screenshot it, it was truly comical…

The guy defended his masterpiece saying that each and every one of those indicators and lines were absolutely critical for deciding to take the trade or not.

Calling bullshit on that.

I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Like most of you, if I find myself in a strategy that's too muddy, I start drifting.

Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.

So I keep it simple.

I make it easy for myself to stick to my strategy because I know firsthand what happens when you don’t…
It’s not pretty.

Are you tired of these tea leaf charts?

Do you have the technical capacity to understand that technical analysis is wrong or right? If you follow it like a sheep, that's sure you are going to lose some money. You must be capable to consider the TA before to take a position.
By the way, right TA does not mean you are going to earn money. You can also lose even the TA is right. A TA just increase your chance to win

mk4

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Paldo.io 🤖

Quote from: Mr_Akbar on July 26, 2019, 12:34:51 AM

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Why does it matter so much to you then? I personally don't like TA myself, but if it looks like it's working for him and not for you, then why bother? He uses his own strategies and indicators, and you use yours. Heck, a trader might have a million lines on his chart and I simply wish him the best with his trades and I simply move on, because it's not going to affect me anyway.

Mr_Akbar

member

Activity: 73

Merit: 15

Today I saw one the most ridiculous charts I’ve ever seen.

Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?

I wish I thought to screenshot it, it was truly comical…

The guy defended his masterpiece saying that each and every one of those indicators and lines were absolutely critical for deciding to take the trade or not.

Calling bullshit on that.

I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.

Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.

Like most of you, if I find myself in a strategy that's too muddy, I start drifting.

Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.

So I keep it simple.

I make it easy for myself to stick to my strategy because I know firsthand what happens when you don’t…
It’s not pretty.

Are you tired of these tea leaf charts?

Topic: Tired of all the bullshit charts people spread... (Read 470 times)