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Is technical analysis garbage? I just did a random stock price

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Is technical analysis garbage? I just did a random stock price generator in R and performed technical analysis on it. Pic related.

How do traders make money?
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It depends.

There's static, dynamic, and subjective technical analysis. Most big investment firms and pro guys only look at static technical analysis. Weekly/Monthly highs and lows, fibs off those highs and lows, pivot points, VWAP, etc. Most unsuccessful traders look at dynamic and subjective technical analysis. Dynamic TA are things that constantly change such as moving averages, MACD, RSI, etc. Subjective TA are things created by the user and that not anybody else may be looking at, such as drawn fibs, trendlines, channels, etc.
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>>982888
The vast majority of traders don't make money.
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>>982888
nope, it's great for me. it's basically all i use in forex trading and i make solid money. most people are just shitters who panic sell too fast and don't actually know what the hell is going on LOL.
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Predicting future value based on past value, what can go wrong?
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>>982888
You won't do very well if that's all you use.
Combined with other techniques, it can be useful.
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>>982888
>Is technical analysis garbage?

Yes it is OP. Dont listen to people who tell you otherwise. many studies have been done and shows no advantage. Some people even made random walks and asked "TA Experts" about the stock and they "analyzed" it.
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>>983228
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>>983025
>i make solid money
proof?
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this >>983210
historical prices are evidence, but without linking it to the fundamentals it is next to useless
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>>982888
OP what you're wanting is not referred to as technical analysis, but quantitative analysis.
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>>982888
Nice, r....
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>>983253
>historical prices are evidence, but without linking it to the fundamentals it is next to useless

Hahahahahahajaha
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>>983234
>>983228
>>983210

Kek you do know that it is fucking useless right?
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>>983555
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>>983555

Price is a technical indicator, and is considered technical analysis. How will you know how many shares to buy when you don't even know the price of the asset? Have you even taken a Finance class?
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>>983752
>he thinks the nominal price of the asset is used

Dude let me guess. Freshman economics ?
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>>982888

There are about 5000 stocks listed in the US. No one is going to just pick an arbitrary chart and try to draw some support, resistance and moving averages and try to trade around that. But to narrow down your opportunities, you have to use technicals. Look at what's overbought, what's oversold, what has unusual volume and then do some research and decide if this is a trading opportunity. Unless you're a hedge fund genius, you're not going to have any edge when it comes to trading macro/fundamentals.The edge for day/swing traders comes from risk management, which is only possible through technicals. Your technicals help you define your risk to reward in a trade, which is everything when it comes to being consistent and profitable.

Using something like the finviz.com screener to find interesting setups > punting on some macro trade you think is brilliant because you've logged 1000 hours in Robinhood threads and have an econ degree from zerohedge
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>>982888
I see a an excellent trading pattern in that chart that would make you a nice chunk of change. But, you'd have to know TA to use it.
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>>983777
Have you graduated from college or do you sell Amway?
Thread posts: 20
Thread images: 4


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