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Anonymous
Is Financial Analysis a Meme? 2017-02-12 02:05:03 Post No. 1793027
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Is Financial Analysis a Meme? 2017-02-12 02:05:03 Post No. 1793027
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I've been messing around with some of the indicators in jstock and looking at historical data. Following indicators like CCI buy / sell seems to work well on its own (even more with other indicators).
Is financial analysis like this just a meme is practice, or is it actually useful?
And any tips on what else to study?
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Only even comes close to working using backtesting, it's worthless for prediction.
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I just started learning technical analysis a week ago.
I mean yeah I feel a little educated and I'm sure it may narrow my losing percentage down a bit because I feel like I at least have some sort of concept on how stocks move, but how the fuck am I supposed to see the future with hurr durr "muh patterns"
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>>1793032
I tried a year of back testing of candlestick patterns for day trading and nothing consistent came out of it.
You may be able to do it on with daily and longer candles but definitely not 5 or 3 min candles.
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Doesn't really matter if they're bullshit or not, enough people respect it. If the candles are dipping outside the Bollinger bands, the RSI is distended, it's a pretty safe bet that there is about to be a reversal. IMO technicals are for trading on people, fundamentals for investing on companies.
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>>1793107
The problem is that over time, strategies degrade as more and more people don't follow them literally, but instead use them to try to get an edge over people who are following them.
If 100% of the market is waiting for the predicted dip, the dip can't happen.
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