ITT: Say something nice about technical analysis.

>>1951407
hundreds of lines to tell irrelevant shit.

Good luck with those unnecessary headaches, you retard.

MACD is actually useful

Boy that's a lot of math for such specious results, good effort!

it workes for me predicting eth every time

Disproven multiple times yet even investment banks hire them

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>>1951421
>>1951431
>>1951478
That's not very nice :(

>>1951511

Black Swans. But they fuck everybody's shit up.

>>1951407
it just werks™

>>1951407
it gives random mug punters an easy to understand framework so they can make investment decisions/predictions and start trading quickly, which is why retail brokers and bucket shops promote it

time series analysis made easy basically - though unfortunately, for a lot of it, there is no sound theoretical basis and not much evidence it even works

>>1951407
1 out of 10 guys get lucky and publicly give credit to technical analysis
The other 9 don't go around telling everyone how they performed worse than the market.
So only the 1 randomly lucky guy gets most of the attention

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>>1951407
TA works fag, now buy my trading system

>>1951407
It's only one of the most Jewish scams I've ever seen, not the most Jewish one.

I work at a brokerage firm. Specifically on the desk that works with these people.

Buy and hold people beat 90% the people using fancy charts. But, that other 10% of people that do well actually know what they're doing, and have the critical thinking skills to work with them. So it's a bit of a double edged sword.

>>1951661
If it works, why don't they use it themselves to get filthy rich?
Kind of awe-inspiring how people really believe someone's going to sell them a money-making machine.

>>1951702
You gravely under estimate the gullibility of recent retirees.

Is the whole TA hate just the /biz/ version of the no singles allowed /tv/ meme or do people here legitimately think TA is useless?

>>1951721
https://en.wikipedia.org/wiki/Technical_analysis#Empirical_evidence

>academic appraisals often find that it has little predictive power

>>1951721
Trying to justify your ch"art"?

>What the fuck! I just lost my life savings because I went all in on a stock because its chart was showing something kinda like a pattern I saw in a reddit post I skimmed on TA one time.

>FUCK TA! THIS STUFF IS SHIT!!!!! REEEEEEEEEE....

Apply 5000 hours to PRICE ACTION READING
NOT RSI SMAS AND MACODS

Just buy Bitcoin and Ethereum.
Done.

Outperforms the S&P 500 easily with very little effort.

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Buy or sell?

It's better than cryptos. Barely.

/thread

>>1951680
>hat other 10% of people that do well actually know what they're doing, and have the critical thinking skills to work with them
Sorry junior, I'm gonna need some proof that "knowledge," "critical thinking," or "skills" have anything to do with the 10% that make it. Because it sounds to me like your taking a randomly selected minority and assigning qualities to them to fit some pre-conceived narrative.

A small percentage of people win the lottery. Do you praise their knowledge or skills too?

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>>1951761
I don't think you know how TA works...

>>1951771
Well, those are the same people I don't have to explain how an OCO works or shit like that. Plus they use some fundamental analysis to boot.

All anecdotal evidence, of course. I have access to see how much they've actually made, so they can't lie to me (trust me, they try to sometimes). Most people that do TA are nothing more than glorified gamblers. But the ones that are successful with TA, be it luck or not, don't ask stupid questions.

>>1951790
>Plus they use some fundamental analysis to boot.
So, a tainted data set.
>All anecdotal evidence, of course.
And therefore worthless for any meaningful analysis.

I get that you're following the directive of the thread, but its still sad how people will twist reality to try to explain, rationalize, and predict the random walk of the markets.

>>1951807
It's tainted from the get go. People actually good at trading aren't calling me anyway.

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>>1951407
Essentially plotting supply and demand. You use it to figure out where to enter and take profits
If you know what you're doing you can make a ton of money

>>1952043

The problem with that is that economics has no native tool for predicting a change in consumer preferences. It can predict a gap in supply and demand as presently existing, but that has limitations.

>>1951761
buy
clear holding pattern, then test below failed, and now price is above previous resistance. buy around previous resistance with a stop below 49

>>1951407
It can be paired with Fundamental Analysis for finding pops or Dips.

>>1952067
yeah there are definitely limitations.
>>1952093
yeah most successful traders will do this