Studying for exam and this slide made me think of TAfags and their bullshit meme lines

It can go up or down or clown world it just depends on what is the most hilarious

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What book should I get into to start trading ?

Got thousands of book related to trading I don't know which one to pick

drive.google.com/drive/folders/0B9b4K-iw1yCoZmVobm8wcHNIS2s

drive.google.com/drive/folders/1V2pv-644Onc5ES780WqqKwUcBe8UItPr

drive.google.com/drive/folders/0B1s-Y597iYjabW5rZklPTzlpcmc

dropbox.com/sh/3y4tx4bssv6zm9v/AAC-o_C-q3jT-0flTFC5o_Lxa?dl=0

meme lines are bullshit, get a job NEET

Markets are non-brownian, there's information embedded in price action. If short term price movements were random, market (micro)structure would be irrelevant

None of you youtube watching, free software charting fags are going to make. None of you point and click trading fags are going to make it. None of you EMH fags are going to make it.

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I'm going to stop explaining things to people.

unironically you should:
-ignore fucking meme lines
-just assume it will go really up because halvening is getting closer and closer
-permabear is bullshit, we are already 90% down
-charlie lee went in again at 24$

Daily trading is worse than wagecuckin

even when technical analysis isn't right all the time, you can still make money if you're right more than 50% of the time and minimize risk by not trading all your capital at once.

>What is dunning-kruger?
You're looking at it after it happened - try predicting behaviour off a developing chart. Of course there must be patterns (true randomness is an illusion as well), but it's so chaotic, with so many inputs driving trades it's very tough to do, and even then nothing prevents a whale from suddenly barting, an exchange from front running etc.

you can make money being 20% right... no need to even be right 50% of the time.

this

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>non-brownian
I bet you feel mighty important saying that word. Nice meme bro but you're just a clown. You can actually make it with memelines and memepatterns if you're not an overleveraged moron. Takes good risk-management.

This image triggers my clickbait autism. I'm trying to narrow down what the secret formula is and I think it's labelling - similar to the wall street meme bubble chart.

Let me fix that for you:
>If it were easy to make big money simply by finding "the pattern" in the stock price movements, everyone would do it and the profits would be competed away.

It's possible to go to the moon but I don't see everyone going.

We know that the whales are weaker now. They can only bart up to 20% at most.

Tell millionaire John Bollinger who made a living developing and trading technicals. Also every great TRADER is using some kind of mechanical system, which essentially is TA.

Help me then how do I make it?

So much this. Yaddayada efficient market, entirely unrelated to past price movements, aggregated human behaviour is completely unpredictable.
>Profited several thousand percent within a year over some 50 trades. Only traded market structure and horizontals.

>clickbait autism
explain pls

Literal survivorship bias.
In WW2, in the Pacific Theatre, when planes would come back from a dogfight, the airforce initially looked over the planes for the points where they experienced the most damage and then added extra armor plating at those points. Eventually they figured out that the planes that were shot into the ocean didn't necessarily take damage at these points, but took damage at other points, and that's why they crashed.
You faggots that proselytize TA, only proselytize it because the other faggots who tried it, gambled and lost.

Technical Analysis is essentially no different than astrology.
A good trader will understand TA for it's affect on the conversation and it's methods of representing a trend, just as a psychologist will understand astrology for it's perceived effectiveness, while ultimately reaching his own conclusions that a layman would never recognize.

For christ's sake, at least listen to some Sweet Baby Ray Dalio. His firm maintains billions and spends 100s of millions on market research. If beating the market was as simple as drawing some lines, he'd have the best lines in the game.

>Technical Analysis is essentially no different than astrology.

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Lets not forget that bitcoin is a relatively illiquid market full of amateur investors and inexperienced traders. Crypto seems to follow TA in a way that the broader markets don't

Why crypto TA fails: there's literally no FA to support it.

But couldn't this argument be made about literally anything?

plato.stanford.edu/entries/induction-problem/

that is literally why it works as well

Perhaps it is, but most traders lose because they overleverage and make emotional decisions. A lot of traders lack the discipline to stick to the rules/strategy they follow.

I think most people just lack the discipline and emotional control to trade and are easily persuaded by their feelings of greed and FOMO and that's why a lot of them fail. But if you have the discipline to stick to rules you can definitely make a sizeable sum of money over a long period of time.

I think a good trader is just as rare as a good entrepreneur. Most entrepreneurs don't make shit and for every success story there's a 1000 losers. Does that mean starting businesses is a meme? No it doesn't, it just means that some people have and developed qualities others didn't.

Managing billions of dollars is very different from a retail trader who doesn't come close to such amounts. If Dalio wanted to trade like a retail trader he'd simply find he can't because there's no liquidity for such things.

You can't trade pennystocks with million dollar entries either. Hedge funds have large bankrolls and it changes the way you can play the game.

You think whales in this market with 15k BTC bankrolls bother with shitcoins? There's nothing to gain there for them. They are trading top coins on BitMex, Binance and Finex.

Excuse my quadruple posting. But it's a common known fact that most startups don't get past the first 5 years. Guess what? Trading has the exact same rule of thumb.

Think VC's are hitting the jackpot with every investment they make? No they analyze tons of them, invest in some and if 1 makes it then they probably make a good return on their money. A trader doesn't have to be right all the time. Trading has a lot more to do with discipline following rules than it does being right.

If ta is a meme how did I place a buy order within $5 of the of the wick on the dump that occurred earlier?

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>tainting pepe's hand with droopy man ass

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But hey, you can always wagecuck like the rest of society..?
Or you can swing trade if you have a job, use strict risk management and over the long run you might actually be able to cut your retirement date in half. You don't even need to start with a very large investment. The idea is compounding the money.

Easy example so you can all grasp this;
If you can make 8% per month (average target of a pro FX trader)
And you'd start with 1000$ then assuming you hit your target every time it would take you only 8 years to go over a million. Ofcourse you will have losing months and such so you can double that to 16 years for the conservative estimate meme.

Does 16 years sound better than 30-40 years?

worst fucking case scenario you lose the 1000$ and maybe an additional few grand cause you try again and again. But is that worth the Risk/Reward? I think so. But if you think this is all a meme then go ahead and don't even bother doing anything and spend your time watching TV and playing dumb video games.

Your life, your choice.

There I'm done.

He made his millions by selling books about his bullshit system. Really makes me think.

n=1

Many people who against TA are bagholders because they don't want money to leave the crypto space. So they're shilling the same strategy and beliefs they themselves are using in hopes of getting more people to hold with them in misery.

ancient Chinese military history is filled with astrology and its real impact on wars and its ability to predict event and enemy troupe movements.

this is because both sides employed astrologers and each astrologer was interpenetrating the stars the same way, thats why the stars had predictive patterns.

(also astrology does have some correlation with weather patterns)

This would be true, if everyone spent all their time doing technical analysis. So, the only way to make TA stop working is by doing TA and taking the profit! Is the author of this slide retarded? Hos argument amounts to "if this were a good idea, someone else would have done it already". With that kind of defeatist attitude, nobody would ever do anything. It's not unthinkable to be among the first to come upon a certain idea...

it's largely a probabilistic game
TA works largely due to self fulfilling prophecies and supply and demand zones

they believe in efficient markets

The Chinese military has never won a war against an external enemy. They literally only fought themselves

They won against the Mongols and other tribes.

TA works in hindsight only for every pattern you say works, I can show you just as many times as that pattern did not work.

Perhaps classically but more recently they got served by the Mongols. The last dynasty before the commies (Qing) was Mongolian.