[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 21 KB, 640x794, 1612029292321.png [View same] [iqdb] [saucenao] [google]
27172459 No.27172459 [Reply] [Original]

serious discussion only please

>> No.27172709

>>27172459
You either die a millionaire or live long enough to see yourself become the cope.

>> No.27172817

Yes.

>> No.27172971

Yes, random walk hypothesis proves this

>> No.27173093

>>27172459
last chat should be something going down 99.999 percent then rising .002% three years later

I call it the request network

>> No.27173677

It can be a self fulfilling prophecy. But can also just be whale painted patterns to dump on you.

End result- pure cope and delusion 99% of the time. Just keep a tab on people doing TA and if their predictions come true. Keep in mind most people are bullish and it's a bullmarket.

>> No.27174294

>>27172459
100% yes. The key to crypto success is making your buying decisions on a 50/50 mix of good fundamentals and social media/4chan/news hype

>> No.27174394
File: 37 KB, 708x480, 1604218011687.jpg [View same] [iqdb] [saucenao] [google]
27174394

>>27172971
>>27173677
Yup, anyone who tries to tell you price direction off TA alone is a retard. If they have nothing else to back up their claims just walk away.

Had a friend try to tell me BTC was going to moon to 20k within a month over a year ago over some TA bullshit when volume and MACD said it was going to dump short term. BTC dumped 25%, waited for that dip and bought in before this bullmarket.

He no long talks to me about TA anymore. Not a bad guy and is often right about shitcoins but has been indoctrinated into the 'cult' so to speak.

>> No.27174617

It's more of a psychological analysis than anything.

>> No.27174620

>>27172971
Maybe, but someone who has looked at 5 minute charts in real time for years gets a feel of how the market's going to move instinctively.
It's also easy to see where liquidity zones are in a chart to set up targets. Meaning, it might be impossible to predict the movement, but you can easily plan out what to do when any of the possibilities happen.

>> No.27174708

>>27174294
I've predicted breakouts within the day they happened with TA and FA to back it up. If your meme lines come together around 1/30 and there is a big announcement planned for that day, something is going to happen just about everytime. Most of the TA you see here is bullshit cope though so I see why there are non believers in the tea leaves.

>> No.27174729

>>27172459
Yes. Otherwise stock market would've been ruled by algorithms designed around TA. Support and resistance are real though

>> No.27174978

>>27172459
Watch this and tell me TA isn't useful:
>https://youtu.be/UKk4QDZJtuE?t=89

>> No.27175059

>>27174620
Can they? And do these people who "just feel it out" consistently outperform VOO?

>> No.27175119

>>27174708
Same. In my forex days I've done crazy shit. But it was too stressful.

>> No.27175302

>>27174978
Please read the thread, no one is arguing it isn't useful, its just not good to rely upon it alone. Also I'm not clicking on your shitty channel's video.

>> No.27175319

>>27172459
Op i'm tired to explain this, technical analysis doesn't foretell the future

>> No.27175460

TA is useful to determine approximate distance of market moves, but it only rarely can tell the specific direction of those moves.

>> No.27175493

Past performance is not an indicator of future performance. You can never divine information from random numbers.

Having said that, if everyone else believes in fairy dust and pixies, and there's money to be made off of exploiting retards who believe in fairy dust and pixies, you're an even bigger retard if you don't figure out how fairy dust and pixies work.

>> No.27176631

TA does not work intrinsically, but it does work circumstantially because of self-fulfillment - that is to say that TA works because people believe in TA. When the analysts draw meme lines say that it means big line will go up, enough people believe in TA and have confidence to buy in, thus making the big line go up when it otherwise might have gone down or crabbed.

If you had some kind of alternate universe where buyers and sellers could never be influenced by the TA of analysts, I would wager TA would have no more accuracy than a random coin toss.

>> No.27176662

>>27172709
Based and dentpilled

>> No.27176807

>>27175493
>Past performance is not an indicator of future performance
But that's Bullshit. Human Psychology dooms us to repeating the same patterns over and over. Maybe in the most technical Mirco sense it doesn't repeat, but on a macro scale it absolutely does.

>> No.27177663

>>27175302
Well that's certainly pretty Ghay of you, was just an example