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Topic: what is point of Tehnical analysis? - page 5. (Read 943 times)

legendary
Activity: 2898
Merit: 1823
June 28, 2021, 05:32:27 AM
#57
Long story short: To find entry and exit points Smiley


That’s right, but it’s still an oversimplification. It’s also about knowing how large the volatility is to base the size of you trade, what range to place your stop-loss, and it’s also about calculating how much your capital is to decide how much to lose before the trade is made. It’s usually 1% - 5% per trade.
hero member
Activity: 2856
Merit: 783
Burpaaa
June 27, 2021, 06:45:30 PM
#56
TA is pointless if you only depend on one indicator and only depend on TA without relating them with the possible news upcoming. However, TA is kinda two tail. It sounds like economic prediction where most of the economist put individual opinion and they may have different prediction. TA works in the same way. It may or may not happen.
You must not rely on TA only. Relate other factors too to get a closer output.

There's a different types of trading for a different asset or coin. Technical analysis is what often use because no one can predict when will the news will come. Technical Analysis is a self fulfilling prophecy that's why it really works most of the time but as you said, there is some factors to that sometimes affects TA which is inevitable. TA can't give you a 100 success rate on trading but it just give you an edge when there's no news(fundamentals) comes.
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
June 27, 2021, 06:36:06 PM
#55
TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?
No instrument or indicator is perfect, just the same way no man is perfect. Systems fail from time to time but that doesn't mean it should be discarded completely. What anyone should do when this happens is to cross-check why it failed. I have observed that news moves prices faster than anything else in crypto industry. The technicals may be leading price to somewhere but once there is a rumour concerning a particular token, price either hits up or down in alignment. Also, more importantly is the fact that every profitable trader understands that most indicators fail during ranging market.
sr. member
Activity: 1932
Merit: 442
Eloncoin.org - Mars, here we come!
June 27, 2021, 05:59:15 PM
#54
Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?
Well, because there is no analysis that can truly predict the market price. Everything is unpredictable and we don't know when the price will always fluctuate. The market is too volatile, there is no way how to determine where it will lead the price, the true usage of technical analysis is only guessing the market price range that should speculate nearly close to the real one. Sometimes we should look around and listen to the news, the current trend will have also an impact on the bitcoin price that the technical analysis can't do. However, some traders believe that the bitcoin price will always have a repeat itself pattern.
sr. member
Activity: 2366
Merit: 305
Duelbits - $100k Bonus/week
June 27, 2021, 05:44:33 PM
#53
TA is pointless if you only depend on one indicator and only depend on TA without relating them with the possible news upcoming. However, TA is kinda two tail. It sounds like economic prediction where most of the economist put individual opinion and they may have different prediction. TA works in the same way. It may or may not happen.
You must not rely on TA only. Relate other factors too to get a closer output.
Exactly, you should not rely only on the technical analysis, you must also look around what happened to the bitcoin community, what is new, and what is a trend as of now. You cant rely upon pure chart plotting, therefore, there should be a fundamental analysis that you can also use to determine the right forecast on the market price. Even though it is not accurate but at least it almost there your speculation on the price.

The total point of technical analysis is to determine how to forecast the market situation so that you can apply it in your trading activity, you need sometimes to cut loss to prevent a huge losses.
sr. member
Activity: 897
Merit: 284
June 27, 2021, 05:14:05 PM
#52
Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?
You don't need to castigate technical analysis just because you could not use your indicator properly. Maybe it's showing you an opposite signal which is contrary to the trend of the market. Remember we don't use indicators in isolation which is purely true. We use indicators as confirmation to strategy that is been used, not complaining about a single indicator in isolation when we all know that indicators lag alot.
hero member
Activity: 2464
Merit: 585
June 27, 2021, 04:17:08 PM
#51
People who had come into trading do not force to us use TA on their trades, it was an individual choice. But having TA's on our side will certainly have a huge help however, not all the time it is find to good and perfect, and so might some people never appreciate. I do understand how desperate you are OP saying TA is pointless and nonsense. You might not appreciate this time but if you engage more in trading, may you find out what it could help for you to achieve your goal.
TA will not always predict the correct movement and I think technical analysis and fundamental analysis are more potent tools for altcoins' trading than they are for bitcoin's trading. We all know that bitcoin is always at the target of the governments, large scale investors so it is near impossible to predict the sentiment in the market.

Also keep in mind that manipulation is more severe in the bitcoin market as compared to the altcoins market because it has the highest market cap and whales always target something that doesn't collapse if they suppress it. Imagine if whales suppress and short sell a new and lesser-known coin, chances are it might collapse and become dust which is not what the whales want. They just want to buy it during the times they suppress it so they can sell it later at much better prices while also earning from their shirt selling of it.
legendary
Activity: 2884
Merit: 1117
Leading Crypto Sports Betting & Casino Platform
June 27, 2021, 02:40:58 PM
#50
TA works in the same way. It may or may not happen.
You must not rely on TA only. Relate other factors too to get a closer output.
Having multiple strategies which are based on different technical analysis will help any trader to avoid frustrating  situations which might happen due to failure of one technical analysis. As market is influenced by many different factors, we cannot expect a single technical analysis will cover all those factors to predict the direction of market for that particular day. We must need different kinds of technical things to analyse each and every factor of market so that we could get more accurate signals.

if we want to stay in crypto crypto trading with consistent profit making then we got no other go except improving ourselves in terms of technical skills.
Improving yourself could be possible in terms of technical analysis by learning and developing multiple technical strategies for tackling market volatility. When you would be having multiple strategies then definitely you will get more opportunities regardless of how volatile market is trading one particular day.
hero member
Activity: 1358
Merit: 850
June 27, 2021, 02:00:43 PM
#49
TA is pointless if you only depend on one indicator and only depend on TA without relating them with the possible news upcoming. However, TA is kinda two tail. It sounds like economic prediction where most of the economist put individual opinion and they may have different prediction. TA works in the same way. It may or may not happen.
You must not rely on TA only. Relate other factors too to get a closer output.
hero member
Activity: 2814
Merit: 518
June 27, 2021, 10:02:02 AM
#48
for short-term traders I think technical analysis is the main reference for determining action. we can see support and resistance on the left so we can determine the buy or sell area. although the cryptocurrency market is manipulated, I think trading psychology has a lot in common for every trader
Either short-term or long-term trader they will still use TA for their trades. It is a tool to help them in making decisions but due to the volatility of the market sometimes we think it was useless. I'm also saying that before, but I realize I was wrong seeing a huge difference when going trading without TA and you know what? The result is totally unfavorable and more often you lose rather than earn profit.
TA is just one of the trading tools that exist but it has a huge impact when you don't know how to make it, that even worse if you have nothing.
full member
Activity: 812
Merit: 100
www.cd3d.app
June 27, 2021, 08:00:25 AM
#47
for short-term traders I think technical analysis is the main reference for determining action. we can see support and resistance on the left so we can determine the buy or sell area. although the cryptocurrency market is manipulated, I think trading psychology has a lot in common for every trader
legendary
Activity: 2422
Merit: 1102
June 27, 2021, 02:22:33 AM
#46
sideway market is predictable and it will move as per exact technical things. If you are good in technical skills then you can easily make use of sideways market for short term trading to make quick profits.
Probably sideways market is complete unusual for crypto traders as they are used to enjoy either strong bullish or bearish markets at most part of their crypto trading life. It means when they need to encounter something new and unusual, they find difficulties to tackle market directions which could a reason for people like OP to blame technical analysis rather than improving themselves suitable for market conditions for easy profits.

Comparatively making profits on one-sided market is easier as its highly predictable nature; but if we want to stay in crypto crypto trading with consistent profit making then we got no other go except improving ourselves in terms of technical skills.
full member
Activity: 966
Merit: 102
June 27, 2021, 12:40:39 AM
#45
Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?

No you're wrong technical analysis is not pointless it's that the market is really volatile and the technical analysis was not always followed. Most of the time the technical analysis were right that's why we always have support and resistance, retest, fake breakouts, etc. they are part of technical analysis too.
legendary
Activity: 2044
Merit: 1075
Leading Crypto Sports Betting & Casino Platform
June 27, 2021, 12:29:34 AM
#44
TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.
You need to remember that both technical and fundamental analysis may go wrong when manipulations do happen. For example, any business which was running too good until pandemic, and then may started facing hard time due to lockdown and other pandemic related consequences; similar to this technical analysis and fundamental analysis may fail against hard manipulations of whales; individual traders cannot do anything against that.

Sideways trends have proved that technical analysis doesn't always mean anything.
In my experiences, sideway market is predictable and it will move as per exact technical things. If you are good in technical skills then you can easily make use of sideways market for short term trading to make quick profits.
legendary
Activity: 2548
Merit: 1873
Leading Crypto Sports Betting & Casino Platform
June 26, 2021, 10:48:35 PM
#43
Technical analysis is crucial for everything, of course when combined with fundamental analysis it is usually one of the best tools that investors can trade, in my case, I analyze the market by Wyckoff's theory taking into account the advice of Livermore After being clear about what to do, I apply the technical analysis (without seeing news of any kind) this so that it does not interfere with my previous analysis, since the only news that I know that can intervene in the market are the fundamentals, the technical analysis that I do it makes me much more precise to establish my positions in the market. There are many who use only technical analysis without applying the fundamental only following chart patterns, which is not bad, but it seems to me that it is much more risky.
hero member
Activity: 2954
Merit: 683
June 26, 2021, 05:36:19 PM
#42
Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?
Pointeless endeavor? No its not and you would able to tell for yourself on how important this kind of analysis is because this market doesnt always react nor workout when you are just tending to make use of fundamentals.

You would really be finding for technicals to be that relevant when you do trade and make out investment into this market.It is way more better to have these kind of analysis rather than on making out positions without any basis because that surely talks about gambling.

Its just normal that analysis doesnt really work from time to time and thats not surprising because if this market had been working precisely with technicals
then for sure lots of us is already rich and making easy profits.
full member
Activity: 1904
Merit: 138
★Bitvest.io★ Play Plinko or Invest!
June 26, 2021, 05:21:37 PM
#41
People who had come into trading do not force to us use TA on their trades, it was an individual choice. But having TA's on our side will certainly have a huge help however, not all the time it is find to good and perfect, and so might some people never appreciate. I do understand how desperate you are OP saying TA is pointless and nonsense. You might not appreciate this time but if you engage more in trading, may you find out what it could help for you to achieve your goal.
^ These both technical and fundamental analyses will always partner in solving trading if you understand the technical side, of course, you will also pay attention to the potential result of the fundamental so it could have a result of a percentage of possible profit in the future.
The point of this tool is just a tool that can help you to increase your chances of making a profit in trading.

It is just a tool to help you understand the market, and yes, it is not the ultimate way of predicting the market especially crypto because of it is high volatility in nature and a lot of unpredictable factors that are influencing this market. But to have the TA knowledge will improve your understanding of what's happening in this market. It may not be the ultimate solution but will aid you in understanding the market in a deeper way.
hero member
Activity: 2590
Merit: 644
June 26, 2021, 05:10:16 PM
#40
People who had come into trading do not force to us use TA on their trades, it was an individual choice. But having TA's on our side will certainly have a huge help however, not all the time it is find to good and perfect, and so might some people never appreciate. I do understand how desperate you are OP saying TA is pointless and nonsense. You might not appreciate this time but if you engage more in trading, may you find out what it could help for you to achieve your goal.
^ These both technical and fundamental analyses will always partner in solving trading if you understand the technical side, of course, you will also pay attention to the potential result of the fundamental so it could have a result of a percentage of possible profit in the future.
The point of this tool is just a tool that can help you to increase your chances of making a profit in trading.
hero member
Activity: 2772
Merit: 645
No dream is too big and no dreamer is too small
June 26, 2021, 08:25:11 AM
#39
People who had come into trading do not force to us use TA on their trades, it was an individual choice. But having TA's on our side will certainly have a huge help however, not all the time it is find to good and perfect, and so might some people never appreciate. I do understand how desperate you are OP saying TA is pointless and nonsense. You might not appreciate this time but if you engage more in trading, may you find out what it could help for you to achieve your goal.
sr. member
Activity: 2590
Merit: 322
SOL.BIOKRIPT.COM
June 26, 2021, 07:34:16 AM
#38
Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?
It really finds be useless if we never know how to use and apply it to our daily trading life. Yes, it wasn't accurate nor to say that it is a need to make it right all the time because the truth is that we can't make it perfect due to the market volatility. I understand it having TA on your side is pointless and makes no sense but for the others (just like me), it is really helping me. I know the limit of our technical analysis and it was you also how to adjust the situation where our TA's isn't effective.
I am a big fan of TA I had been using it for trading for long I used with few indicators coupled with Price Action although fundamentals drives the market however versed traders knows how to use  TA and make profits consistently it very obvious we are in a bearish market experienced trader utilizes TA to short trades thus making profits.
 My own way of using TA is based on price action at a support or resistance zone once the price is rejected or bounce off I watched out my indicators for the needful eg price making lower low and lower high for short and higher high and higher low for a long trade.
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