Convince me that TA isn't a sham form of divination.
Convince me that TA isn't a sham form of divination
Josiah Ramirez
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Jace Mitchell
no
Blake Young
The best way to settle this is to go out learn the basics then try it yourself. I was sceptical for a long time because of the fact that lines on a chart shouln't influence real life. However the reality is that price is only psychological and everybody is looking at the same meme lines.
Christian Peterson
why don't you convince me that it is
David Stewart
Can't, because it's not possible.
Luke Powell
Simple. Divination has a higher success rate.
Joseph Sullivan
there's a reason people sell books and training on technical analysis instead of just using it themselves in various markets
Carson Taylor
So TA can explain movements after they've occured but still fails to predict them.
Noah Campbell
retards trade using it so it sometimes works as a self-fulfilling prophecy
mostly this tho
Bentley Rodriguez
Technical analysis is so fucking useful to see where a good price is to buy something. Defining support/resistance levels is insanely helpful. Knowing the stages of a cycle (accumulation, markup, distribution) is legit all you need to make a fuck load of money in crypto.
But oh well, plebs will say it doesn't work because their idea of TA is that it tells you WHERE the price is going to go and WHEN. That isn't TA, and you're retarded.
Adam Martinez
it is just hold your fucking bags and keep the ponzi going
Brayden Allen
TA doesn't work in a Simpsonean Market
Evan Richardson
People who predict what will happen with CERTAINTY are usually frauds.
I use TA to make a "game plan" on possible scenarios that could occur, and trade based on that.
e.g. a chart is about to double-top. Two things usually happen here:
1 - it gets "rejected", and everyone thinks the resistance can't be broken and sells, and the price tanks
2 - it "breaks out", and the price spikes because everyone thinks the resistance has been broken and fomo buys.
So if it gets rejected, I sell, and USUALLY it's the top. If it breaks out, I buy in, and try to sell when I'm in decent profit before it goes back down again.
Usually it works, but there are "fake outs" (e.g. it breaks out, only to go back down, or it double tops... gets "rejected", then just pumps). For these scenarios, you need to set TIGHT STOPS.
Basically, just notice patterns that happen regularly, and trade on possible outcomes, with tight stops in case you get it wrong.
Over time, you'll come out ahead if you're doing it right (cut your losses short QUICKLY, and let your profits from your correct guesses run... and you'll commonly have correct guesses with TA, but NOT always).
Michael Murphy
Y/N?
Jayden Barnes
>TA
Isaiah Sanchez
Sort of. Except you can't use them to explain after the fact either. They're lines on a chart, if you're receiving messages it's because you're schizophrenic.
Here's what you do. You quantify chart patterns with algos, backtest your pattern matching strategy, and then create a risk management strategy based on the expected returns of your simulations and update your exposure to the market accordingly.
William Bailey
anyone any info on where I can read pic related?
Noah Garcia
because it seems shammy. calling for anything other than 1k eoy in a sin.
Levi Gray
What exactly do you think TA is? It's just watching what the market is/has been doing so that you can form a response to it. It's not fucking magic or divination....it's observation and the narrowing down of possibilities based on probability.
Ian Howard
papers.ssrn.com
This one is better for your circumstances.
Julian Walker
Think of it as a study of the markets psychology....what kind of movements influence people to buy and sell at the times they do?