Technical Analysis

One rabbi will say yes
Another will say no

I think it's fairly reliable if there's no other indicators and you're looking at short term.

>>2225484
Indicators are TA

bullshit/self fulfilling prophecy

>its going up or down at this point
>i predicted that

>>2225484
polfag detected

>>2225450
no
yes
no
yes

>>2225450

Maybe a bit of all of those things? I'm a practical guy. When it comes time to buy/sell, TA is your best friend. Is it all self-fulfilling prophecy? I don't know and I don't care. It doesn't matter to me why patterns repeat themselves with amazing frequency. All I need to know is that they do repeat, over and over again, and I can use that knowledge to maximize profits.

>>2225450
I think it is bullshit purely because it assumes markets have no efficiency and in reality they are either semi strong form efficient or weak.

>>2225450
>markets are impacted by the psychology and emotions of their actors
>emotions are to a degree predictable (think: stages of grief, threat -> fight or flight and so on)
>these predictable emotions lead to repeating patterns of price changes in markets

>TA looks for repeating patterns in markets and tries to predict it
+
>other people use the same indicators and are likely to act in the same way you do -> self fulfulling prophecy (at least to a small degree, since there are thousands of different indicators)

while they are not 100%, I think trading based on these indicators will statistically lead to >0 ROI
you are still betting on something with a <100% certainty, so with enough bad luck the indicators will be wrong 100 times in a row

>>2225630
>while they are not 100%,

Would 90-95% certainty be good enough?

>>2225450
>Is TA dark magic, unfounded BS, a reliable tool, or a self fulfilling prophecy?

The Medallion Fund has made a fortune doing technical analysis.

But they got into it long ago and have the top mathematicians in the country working there.

If you can't tell me off the top of your head what the derivative of x squared is, don't even think about it (and that would be just the first interview question to get rid of those who are really disqualified).

>>2225667

Depends. Percentage correct on their own mean very little. I've seen people be right 90+ percent of the time, yet they are still negative. Why? Because during those 90 out of 100 times, they make a dollar, but the 10 out of 100 that they lose, they end up losing 10 dollars. Overall they have a negative return rate that will bleed them dry over time.

>>2225667
it's bit on the low end of what I'd feel comfortable with trading... which indicator were you thinking about again?

>>2225691
it's just playing odds.

>>2225691
why would I need to be able to answer that?
you can just click a button and the chart shows whatever indicator you want to see... for anything else there's spreadsheets, calculators and scripts

>>2225710

For what I am doing, I rely on my own indicators.

>>2225695
how can they lose 10 dollars when their stop/loss should be 1 dollar below their entry?
or maybe you're talking about gamblers?

>>2225722

ffs, who do you think writes that software?

>>2225751

Well I don't work with stocks, but options, so you can have it where things gap down significantly below your stop loss.

>>2225710

So, if I told you that with 95% certainty a certain stock will rise (or drop) 4% in 10 days, you couldn't find a good use for that data?

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>>2225450
Just bullshit. Remember the "helpful" guy who posted this yesterday and convinced a lot of people to sell? Well it broke his meme "fib level" like 5 times and he said the downtrend will continue but instead it went up by 200 dollars.

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I don't know but that cup and handle formation on DGB fucking worked.

But I thought TA was bullshit so I didn't listen.
>inb4 hindsight
>>2116805
>>2121267

>>2225762
people like me :^)
but my point was that there are enough free resources out there to be successful at trading
you dont need a full staff of mathematicians for that.. maybe if you want to squeeze out that extra 0.001% ROI because you're trading sums for which it actually matters...

>>2225783
that answer wasn't meant to be taken seriously mate

How many whales are trading based on the assumption everyone else is trading according to TA?
>more than 7.

>>2225691
>derivative of x squared
How does it prove anything? It's fucking 2x and last time I took a math class was 8 years ago. At least ask something beyond high school tier.

>>2225691
>If you can't tell me off the top of your head what the derivative of x^2 is, don't even think about it

anon..

>>2225807

And me, but I'm a mathematician first. I agree about the availability of resources. But you are wrong about the ROI difference. It depends on how you trade. I make a lot of short to short-intermediate term trades of a size that squeezing out that extra $0.25/share is important.

>>2225831

My bad.

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check sia, faggot

>>2225530
reddit double nigger "detected"

TA as in Tits and Ass?

>>2225615
Can one of you TA fanboys address my point?

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>>2225450
Technicals are used to figure out where areas of supply and demand are. This can be very useful in finding where to open and close a trade for maximum profit. However this only works if enough other people see/do the same thing you do.

>>2225789
They are not magical lines in the sand that stop prices. Real trades come from price action

>>2225450
>reliable tool
As long as you pick the right stock.

>>2226347
You fags understand that if btc goes down so does every memecoing, right?

>>2226878
I guess I'm investing in ETH then

>>2226690

There seems to be no point. You've already made up your mind. Why waste my time arguing with you? I'll keep doing what I am doing because it works and has worked for a long, long time. You can keep doing whatever it is you do and it harms me not even a little bit. In fact, I'm even tempted to tell you to fuck off, we're full.

>>2226690
you don't have a point. You just spouted words out.

TA works because whales manipulate the market according to TA. The cryptomarket is extremely new, it won't be as predictable as it is now forever.

>>2226908
ETH took a shit too. It was lucky and revived by the news about China.

Nothing is safe, retard.

>>2225450

fucking retarded shit, just because you made a drawing by connecting the stars in the sky, doesn't mean they are trying to send you a message.

>>2226941

tfw you have no idea how TA works nor have you ever tried to learn any of it and still rage against it

>>2225751
You just have to be wrong ten times is all, and that's easy with TA!
Which is why all the best traders go through the whole process with strong detail oriented attention and only use TA as a sign of when to enter/exit the market.
It's there for psychological reasons. From all that I've read, psychology is almost entirely what trading is.
>>2225783
Actually no, because I don't know by how much. If it rose 1 cent and had a 5% chance to drop a dollar, it would still be a terrible trade.

>>2226957
>Actually no, because I don't know by how much. If it rose 1 cent and had a 5% chance to drop a dollar, it would still be a terrible trade.

You're not getting it. I told you by how much. 95% probability of a 4% percent increase in 10 trading days. This implies a 5% probability that the stock price will not rise by 4%. If you think that's a bad trade you are an idiot.

>>2225450
What's ta

>>2226957

And continuing, I would love to play poker with you.

>>2227355
Technical analysis. Drawing lines between arbitrary points to try and predict price action.

>>2227606
Oh I see. Thanks anon

>>2226921
>>2226917
I haven't made up my mind about TA necessarily, I'm open to persuasion. I'm just confused because I read about it and it seems respected by some intelligent people, but I'm an accounting student and one thing we learnt was that TA assumes no efficiency in markets, now the efficiency of western markets is usually thought to be semi strong or occasionally weak but everyone agrees they are somewhat efficient. So do TA people disregard the efficient market hypothesis? Or do they believe markets are completely inefficient?

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the meme lines win again

>>2228160
the next buy zone is at the 2150 area that it tested twice most recently

if it goes through that it will bounce off the next downtrend line potentially

>>2225450
TA has been around for literally forever at this point. People were 'watching the tape' and looking for patterns 75+ years before anyone on this board existed. It does work, but it's not a 100% foolproof thing; more a guideline that other assumptions the trader is making either are or are not in play. Combine that with bots which trade based on similar patterns, and yeah, it kind of works.

Traditional TA is a bit weird with cryptos though; It acts as some hybrid between Forex and Stocks in my experience. You'll have times where you're *absolutely* sure about chart patterns and the market will do the complete opposite as well. Since everything is so unregulated it's the wild west; and like the real wild west some strike it rich and others go home ragged

>>2225450
which software should i use for this

any free options?

>>2228561
cryptowat.ch

tradingview.com