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/biz/ - Business & Finance

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6424574 No.6424574 [Reply] [Original]

What are the best books on Technical Analysis?

Say what you want about it, I just want to learn how to use it properly.

>> No.6424616

technical analysis has been outdated and worthless for over a decade. there's a reason nobody uses it anymore in traditional markets

>> No.6424642

“How to Lose Money” by Rampu Punjabi

>> No.6424655

>>6424616
I doubt that.
According to you, what are you supposed to use?

>> No.6424720

>>6424642
I chuckled.

>> No.6424760

>>6424655
Every serious player on /biz/ owns a Volta server with Tensorflow AI feeding it all crypto data since 2009 and letting it make market predictions.

My personal machine has a success rate of 78% and I only spend about $300k on its development. Bigger fish might even touch the 90% mark.

TA has barely above 50% success-rate.

>> No.6424765
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6424765

Martin Shkreli mentioned TA on his livestream. Says it's worthless and people in finance make fun of it. Elliott wave is useful though.

>> No.6424839

>>6424760
lol

i'm positive that there aren't very many crypto traders using backwards-tested models to do algo trading beyond basic arb. If they are, they're mainly among the whales

in all seriousness, I would do this for fun if I were a miner. Honestly it's not a terrible way to save up your funds on mining—after 7-12 months (obv in this market a shorter period, but lets stick to history first) you'll have a ton of free GPUs sitting around. Why not build models with them?

>> No.6425123

>>6424839
I've seen projects of people attempting this with limited success. I don't believe you can create a backwards-tested model on your own.

>> No.6425371

>>6425123
hence I would do it for fun.

if I were serious about it, I would end up building a private team to garner the funds necessary to get a project off the ground.

there are people who do this in private and make serious cash. For the majority of retail traders, however, they'll end up just losing money