/biz/ - Business & Finance

TA is a part of it. narratives, psychology, fundamentals also are a part

>>57062542
Yes.
t. technical day trader

This is not the kind technical analysis that works. This is just the bullshit they feed to idiots who are about to lose their money.

>>57062542
too complicated to be useful.
just know the normal patterns and how to use fib retracement.
graph on log.
draw straight lines on a bunch of bottoms and a bunch of tops.
and most importantly, check the STOCH RSI.
the #1 mistake traders make is they forget to check the STOCH RSI.

>>57062749
>he fell for the stoch rsi meme

G

>>57062690
what TA works then?

>>57062542
It's an indicator. That's all. It can help make decisions, but it's in no way shape or form a fortune telling tool. If you plan to do short/mid term acti e trading, it can be useful. I've used it a few times to help guide my decisions.
If you want a relevant analogy, it's like looking outside to see if it's going to rain and deciding to bring a rain jacket or just an umbrella, versus looking outside and deciding if your crops will be successful next year.

>>57062897
The kind that relies on petabytes of data and a legion of highly paid/smart people to work together to make decisions with a wealth of resources at their finger tips. Again, this kind of shit can help you determine if you should try to short or long something, but it's just one tool in the box and a far cry from what the big boys on Wall Street are using to make billions.

yes they're useful in the right context.

>>57062856
>>57062871
>>57062887
>>57062901
>>57062914
>>57062926
Bravo sir

>>57062897
The absolute basics. Everything that in my experience works is some combination of the basic principles that the market likes turning where it turned previously and that it likes to continue trends rather than reverse. To make money with TA literally all you need to do is buy previous lows in an uptrend and sell previous highs in a downtrend, basically fade the retracements in favor of the trend. There are only two "tricks" to it. One is that you need the right kind of chart for how you want to trade (I find the common time based charts bad in many ways, but you can make event hose work). The other is that you need to enter at points where it seems stupid to enter because it's going against you and you don't have "confirmation" yet, which, as stupid as it sounds, actually helps you greatly in limiting your risk. It also works much better on very small timescales, that are not muddied as much by fundamentals. And I have no idea if it works for crypto, trading that seems retarded to me.

>>57062749
>graph on log
Cannot emphasize this enough

>>57063073
And I forgot that you need far better emotional control than most people posses to make it work.

>>57062929
it's like guessing whether or not it will rain based on how it was raining over the last 3 days, instead of using a numerical weather forecast model or even how heavy/dark the current clouds look

It's better to look at underlying conditions than hope old,inconsitent patterns will repeat themselves

Is owning a big outdoor grill a meme?

>>57063152

A forecast is predicated on historical data, you absolute fool

>>57062749
>know
What are considered normal patterns.

>>57062542
AI trading, which has been in full force since 2016 uses complex algorithm to trick the traditional wall street floor.

Look up zero sum game to understand why this prediction strategy is moot.

>>57062542
hanging man can also be bullish

Anybody have a comprehensive compilation of all Japanese candlestick patterns named and annotated in a concise and readable infographic?

>>57063188
yeah? why don't you check the percentage of times those candlestick patterns actually work. because it's not good

Is this a joke? The first two are the same for both sides

>>57064145
Based retard.

>>57063073
>> I find the common time based charts bad in many ways
What do you mean? What kind of charts are best?

>>57062856
>>57062871
>>57062887
>>57062901
>>57062914
>>57062926

lel

>>57062542
If it was legitimate (it's not) hedge funds and AI algorithms would be using it more better and more faster than you. Any move you make would be predictable and already priced in.

>>57062542
>>57062673
This, don't forget theory is all fine and good but the mindset behind the investor is key. I've seen the bearish mat hold on 3 dexscreener lowcap gems and it doesn't necessarily means a bearish continuation is happening because a surprise pump might always happen

>>57062897
>>57062944
some guys been workin on a TA algorithm for 4 years (the PB of data you require) and is getting ready to release it as a paid service. its called jesterbot and it works wonders. lots of people in the telegram have paid for their sub to the bot many times over by using the boys buy and sell signals. so I would say that TA DOES work based on my experience with this one bot.

>>57065116
>t. genius on the left side of the bell curve

i think engulfing candles can be useful, signals trend reversal?
and maybe single candle sticks may indicate "a break in trend" too

>>57065171
you can go ahead and shut the fuck up and never post here again

>>57062856
kek the moment i saw that pattern...

>>57066198
stay poor

>>57066230
oh no i'm missing out on paying a monthly subscription to a someone who has it all figured out!!! I'm so sad!!!!!!!! :((((((((

>>57062542
this was specifically for rice futures of the 1600s in japan, could be wrong on the century

>>57062542
LMAO FALLING THREE BEAR MAT WITH ADVANCED BLOCK STARS DOJO

>>57062542
Made up jewish bullshit to liquidate the "intellectual" and "disciplined" traders who think they can outsmart the market by studying patterns. At most these kind of traders get big losses and little profits

>>57062897
I made money on my memecoins without doing TA lol, just riding the hype. I sold them and transferred the profits into long-term altcoins like XTP, and now waiting for the US launch for Tap.

>>57066230
If it was really so effective, they sure as shit wouldn't be selling off their edge for peanuts, that is relative to what you'd expect them to be making with it... oh wait it's actually bullshit which is why they're making it public under a subscription model kek

>>57062929
Fundamental analysis works for me, though I acknowledge TA can be helpful. My investment in DUA is based on solid fundamentals, so a small dump doesn't bother me.

this is the daily chart of the shitcoin i own, is this an advance block pattern and its gonna dump?

>>57069075
the price of shitcoins can be easily manipulated, so I wouldn't even attempt TA on them