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/biz/ - Business & Finance

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712806 No.712806 [Reply] [Original]

Why do people hate technical analysis /biz?

I've done it for years and been successful and yes I do apply fundamental analysis onto my decisions too

It's just some kid said it's all bullshit and so did one of my friends who has no clue about the markets, I did some research and loads of people hate it - but it's great for me..I just don't understand people

pic related - my analysis, made over £400 on that

>> No.712822

>what is confirmation bias

If it works for you, congrats. You successfully flipped the coin and guessed correctly. It happens. Not for the reasons you think, but gains are gains.

But its not a sound investment or trading strategy, and you're not going to convert anyone with half a brain to follow your approach. And unless you're selling some TA materials, you're not going to make any money advocating TA. So don't do it.

I won't tell you how to trade. You're a big boy and you are free to make your own mistakes. But don't come onto the /biz/ board and try to convince us to do the equivalent of deleting system32 or blowing crystals.

>> No.712823

If it works for you and you are making money why do you care what others think?

If it works it's legit. That's all there is to it. Some people look and P/E and cash flows, some look at management, some look at technical indicators, some look at micro, some look at the macro, some look at the planets positions, whatever works m8.

>> No.712903


>flipping a coin

>> No.712925


TA is self-fulfilling and /biz/ refuses to believe it because they think they're smarter than everyone.

>> No.712941

Whatever floats your boat mate

for Stocks I used Fundamental analysis also news for forex I'm a scalper so Its technical all the way

>> No.713082


Flipped a coin? So winning the majority of my trades is flipping a coin? I conduct sound analysis to predict future movement, in highly volatile markets you can't tell me the HFT systems and algorithms 'look at the news' to determine their next trade? No, they trade off price action. Get with times..


Exactly, especially in high-volatile markets like Forex! This isn't the fucking 1990s, the algorithms which make up the market don't listen to the news unless it's something like fed minutes, interest rates etc. Most of the time they're trading off the price so it clearly makes sense that it is self-fulfilling


Stocks aren't as volatile so fundamental analysis will work well as it has done for god knows how many years so I would be the same

>> No.713090
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>I conduct sound analysis to predict future movement

>sound analysis
>predict future movement
>muh sides

>> No.713109


>look at the news to determine next trade

You know, most of the time, the news is used so people can take their profits and the dumb money gets stuck not knowing why they are losing money on good news.

>> No.713799

Which technical indicators do you use?

>> No.713948

What are the free software solutions for technical analysis. I've just been getting into trading and have just been looking at basic charts and recognizing patterns. I'm moderately intelligent, so it's worked well enough for me so far, I made an 11% profit on a day trade the other day, and a 19% profit on another trade yesterday. But I feel like I could do better with proper analysis and software and shit. What are the best free programs for analysis?

>> No.713976


The cloud of a 200/50 SMA. Nothing else, all price action with fundamental support


I use sierra charts which is £12 a month but trading view is almost as good and it's free. Don't use meta trader, 90% of traders fail and ironically 90% use meta trader.

>> No.713987

people generally fear and hate the things they do not understand, most people aren't smart or talented or disciplined enough to trade via technical analysis

>> No.714049

>90% of traders fail

90% of all untrained traders fail. Fixed that for you.

>> No.714062

>most people aren't smart or talented or disciplined enough to trade via technical analysis
This is demonstrably false.

>90% of all untrained traders fail. Fixed that for you.
This is demonstrably false.

I'm not sure if you're a samefagging shill or just two idiots working on the same brainwaves, but there is no evidence -- NO EVIDENCE -- that TA produces positive alpha.

It doesn't matter how "trained," "talented," "disciplined," or "smart" you are. Statements like this are classic sophistry. Instead of acknowledging the proven deficiencies of the strategy, you blame all failures on the people employing the strategy. "TA works; you must be doing it wrong." Except TA doesn't work, according to every accredited researcher, economist, and academic mind to every study the question.

>> No.714065

this is true. fools jump in the game during a bull market run, underperform the index (but still make money) and think they're trading gods. it's funny to watch.

>> No.714113


It's less of a question of "does TA work?" and more of a question of "which types of TA work?" A lot of TA is bullshit, for example Fibonacci ratios. There's no statistical edge.

Check out Thomas Bulkowski's work, it makes sense to me. He studies which ways classic chart patterns are more likely to break out, in both bull and bear markets. Some types of mean reversion trading work pretty well. Also Market/Volume Profile.

>> No.714121


>clearly hasn't traded forex before

>> No.714159

>He studies which ways classic chart patterns are more likely to break out, in both bull and bear markets.
Ancient man look up into the night sky and saw patterns too. Doesn't mean the Big Dipper is actually a celestial ladle.

>clearly hasn't traded forex before
You're correct. But I'm more partial to craps than forex. Same odds, but I get free drinks and an occasional comp from the casino.

>> No.714185


sigh... straw man more pls. It's clear you don't trade, yet are telling people who do trade how to trade.

If a broadening top on the ES breaks a upwards 61% of the time on rising volume in a bull market, you can bet that I'm going to be going long at the first opportunity when I see it happening. How is that illogical? :P

>> No.714218

>It's clear you don't trade
Of course I don't trade. Trading is a losing strategy. I invest.
>yet are telling people who do trade how to trade
Nope, I don't care what you do, and I won't tell you what to do with your money. But I will freely share my opinions about what you're doing, and about how stupid you're being with your money.

>> No.714250


I can understand why you think it's a losing strategy. Trading is a skill that has to be developed; it took me a year and a half working 8 hours a day researching different strategies and methods as well as developing my own before I started showing profits. I imagine it's possible to do it faster, but most people (who haven't and can't put the screen time in) should be investing for the long term.

The problem is the lack of education. The Dunning-Kruger effect is very strong when people get an idea about what is the right thing to do with money. For example, they go on believing that trading is impossible, hard EMH is true, winning traders are just lucky, and the only way to gain an edge is to be 1 picosecond closer to the exchange. Just because it's easier to think so.

>> No.714281

whatever works works
but using TA to guess the future is GOING TO HURT YOU eventually. Everyone thinks their strategy is golden but none work forever. but again, whatever works works

>> No.714285

by guess the future I mean guess movements rather than react to them, I assumed that's what you meant but maybe you meant something else, idk

>> No.714342

Are you seriously citing the Dunning-Kruger effect in support of your claim that you are a misunderstood genius defying the odds and making consistent profits with TA? That the critics of TA and all of the research showing TA to be a failed strategy is somehow a mass delusion that manifested in thousands of economists and academics repeatedly over decades of time?

You're textbook, man. Perhaps even bordering on clinical psychosis. Yikes.

>> No.714414


I've read a few of these TA threads here on /biz/. This is the first time I've posted, but in every single one you, or someone like you, is there bashing anyone who incorporates elements of TA into their strategy. It's almost eerie how consistent this is, like you're shilling for something. You have yet to answer my question about price patterns. How is that illogical?

If anyone is interested, here is a fantastic webinar on market efficiency and technical analysis. This guy hits it right on the head.


>You're textbook, man.

This really supports your argument well. :)

>> No.714416


Am the same guy, different comp.

>> No.714497

>All the criticisms off my UNIVERSALLY DISPROVEN trading strategy are similar, so I'm going to assume its a trick, and not simply a consensus amongst informed people

>> No.714522


are you the guy who shitposts on literally every single thread all fucking day? ive come to recognize your writing style and how you only troll and never have any actual input

>> No.714528

How does one begin to TA?

What are the basic underlying theories and ideas? Serious questions, uninformed pleb here.

>> No.714529

>I can tell from the pixels....
Listen genius, I have better things to do than save you TA retards from flushing your money down the drain. As I said above, I don't care what you do with your money. No one does.

But if you make a stupid, incorrect, and easily disproven statement on the internet, you're gonna get called out for it. So put away your persecution complex and get some life perspective.

>> No.714532


The vast majority of the time the S&P breaks either the overnight high or low. Almost as often, price expands on the trading range set in the first hour of the trading day. Wouldn't use these types of statistics to your advantage and implement them into your strategy? These methods are the furthest thing I can imagine from being "universally disproven". They are facts.

If you're so interested in this stuff that you take time out of your day to read /biz/, it would be worth it to have some basic information about a topic you have such strong opinions on. Do a little research, this stuff is actually very fascinating.

>> No.714538


Yea ikr haha. I thought I was seeing a pattern here. I wonder why he does it?

>> No.714542


I'd start at investopedia. There's a lot of good info there for a noob.


>> No.714545


you are the same person lol

>> No.714547

Let's see your account balance mr. trader of the gods

>> No.714548

No I wouldn't. I don't trade on patterns, candles, or slopes. I don't sell in May and go away. I don't believe in the Santa Claus rally. I don't believe in Santa Claus either, for that matter, which is probably a decent analogy for TA: fictional nonsense that promises good things, but even when it delivers there's a different, rational explanation.

>I thought I was seeing a pattern here
Typical TA behavior. Ever think that TA threads always get slammed because TA is bunk science? No, of course you don't. That would shatter your confidence with your "system."

On the other hand, maybe I'm like Santa Claus: one guy who scours the entire internet and joins every TA discussion to bring enlightenment and truth to good little boys and girls.

>> No.714561


lol what?

>> No.714563


read your own post


such a cringe-worthy person

>> No.714564


>> No.714573


Yea it's like talking to a wall. Idk what his angle is.

Hey so what kind of methods do you use? You lean more discretionary or systematic?

>> No.714578

What books did you read about it?
How do you practice? Is it like calculus?

>> No.714583


mean reversion and standard deviations
not gonna spill the whole gallon of milk but you probably already know a bit about mean reversion but you should look into the standard deviations. (not just simply the bollinger bands)

>> No.714590
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You guys sound like Scientologists slinging around meaningless techno-babble. GTFO off biz.

>> No.714592

No response to my arguments, so bring out the naked ad hominem attacks. Makes sense. For you.

Kek. Don't bother trying to bait these guys. They're in their own little world of delusion.

>> No.714593


>he posts from a phone

How do you trade, or as you say, invest?

>> No.714594

is because is shit.
If u know japan is doing QE and US will hike rates this year or early 2016.... what will happen to price?... i traded x bank with my bloomberg terminal..when i started i asked that they laughed... because we could see where the orders sit we dont need ta bullshit.

>> No.714598


Yea. I like VWAP better than bollinger bands for the intraday charts. I use bbs on the daily chart, and I'll use volume profile to help me visualize how the market is falling into the standard deviations. Volume profile is also great for showing s+r areas. My strat is nothing too complicated. The hard part is getting the experience to use it lol.

>> No.714617


If you're going to samefag then at least change your writing style.

>> No.714850


OP here, it's more of an art than a science hence why there is so much hate geared towards it.

Read up on it via babypips, investopedia, youtube etc. Watch these guys on youtube called AstroFX, I've never seen people more spot on than them ever.

I just don't understand people's logic when they say TA doesn't work, if I can notice and identify a clear pattern there's a 95% chance I know which direction it will break and a further 80% chance as to where it will end before doing something else. It's all about entering the market at the right time and not early or late.

>> No.714855

I'm learning TA, anything I should know?

>> No.714861


Don't apply too many indicators, if any. I use only the SMA or Ichi cloud and very rarely the RSI. This is because indicators on the chart tend to be lagging, so the cloud and moving averages can show where support/resistance levels may be in the future (or use them to act as confluence for a trade, for instance if a pair is going down towards a support level and the 200/50 SMA has just crossed it, the pair will most likely bounce up).

I mainly trade off price action so pattern identification and S/R levels whilst incorporating any news which may impact the trade.

>> No.714871

Do you have any qualifications or did you grab some books from your library?

>> No.714872

What program do you recommend for TA, preferably a free one?

>> No.714880

Stock market is all about analysis. The point is not to predict the market 100% just enough to where your profit.

>> No.714991


No qualifications - I started when I was 15/16! That's the beauty of the financial markets, whether you're 15 or 85 you can learn it without formal qualifications and get a thorough understanding if you learn right.

I'd suggest reading a few books which will no doubt be PDF'd on the internet, such as the intelligent investor and one up on wall street. Good fundamental analysis books. Technical analysis can be learned on the internet with ease - babypips and google is your friend.

The best free one is by far tradingview - create an account and you're set, metatrader is far too clunky and I tend to find with broker terminals (such as the CMC, 212, Plus500 terminal etc). pricing or movements isn't always right.

>> No.715022

TA is useful for seeing where you are in a trend. Its less useful for predicting future events.

The issue of biz hate on the matter is 2-fold. Lots of people hate it because its basically a different way to plan trades, and god help you if you do anything but buy and hold vanguard funds, which are by far the best return possible ever nothing can do better.

The other side is that part of TA that never gets talked about, which is about planning the structure of your trades. Knowing where to put your stop loss, when to take profits, what time frame your trades need to be closed out on if a move doesn't happen, and being able to be absolutely unemotional when you make a good call but get stopped out or you take profit before the thing is done running.

>> No.715261


If it's done properly then future events should be simple to predict so long as the fundamental's are in confluence with the technical analysis.

And yes too many traders venture into technical analysis with no strategy, luckily that's been instilled into me since I started. By having a weekly target takes a lot of the emotion out because I don't become greedy and I know if I trade it right and wait I can get to that target most weeks.

>> No.715267

>The point is not to predict the market 100% just enough to where your profit.
This is a recipe for underperformance because it ignores the opportunity cost of the strategy.

Lots of people think that generating profits means they're trading/investing successfully. That's wrong. The real question is whether your strategy generates alpha. Anyone who doesn't instinctively understand the difference probably shouldn't be trading at all.

Generating gains in trading isn't proof of anything. Fifty percent of professional coin-flippers have amazing success rates in the short term.

>> No.716071

Anyone interested in learning TA should check out

I personally do not think TA as your main investment strategy is a viable solution, but I think it's ok to incorporate into investment strategy with FA

>> No.716082

>when to take profits

not getting greedy, when i was new at this, was the hardest part.

>so long as the fundamental's are in confluence with the technical analysis.

When this aligns... it's fucking money in the bank. I get greed boners just thinking about this scenario.

>> No.716089

Thanks Man

>> No.716284

>One of the problems with conventional technical analysis has been the difficulty of specifying the patterns in a manner that permits objective testing.Japanese candlestick patterns involve patterns of a few days that are within an uptrend or downtrend. Caginalp and Laurent[71] were the first to perform a successful large scale test of patterns. A mathematically precise set of criteria were tested by first using a definition of a short term trend by smoothing the data and allowing for one deviation in the smoothed trend. They then considered eight major three day candlestick reversal patterns in a non-parametric manner and defined the patterns as a set of inequalities. The results were positive with an overwhelming statistical confidence for each of the patterns using the data set of all S&P 500 stocks daily for the five year period 1992-1996.

Shilling on /biz/ will only make your butthurt more severe, you should stop being in denial and grab a book or two about technical analysis. Oh wait, actually don't, you can be my contrarian and feed me your shekels instad

>> No.716343




>professional coin flippers
>alpha more important than gains


>> No.716594

Someone doesn't know the meaning of the word "shilling."

Someone doesn't know the meaning of the word "alpha."

>Is it Summer already? It feels like Summer.

>> No.716659

> responding with le ebin summer may may xDxD
I wasn't expecting any less

>> No.716664

traders =/= speculators

>> No.716697


>Opportunity to make 10 points on an S&P breakout upwards
>Not taking it because it would be filthy beta gains

Everyone is laughing you out of this thread dude. Trading is about making money, not summerfag memes. Fuck off back to /b/ and let us have an actual intelligent discussion.

>> No.716723

>not realizing that OP created the thread because intelligent people know that TA is a scam
>not realizing the TA fags get BTFO in every thread they create
>not realizing he's trading a meme strategy
Its sad, but I can't be bothered to care.

>> No.716746


What are retard, why are you even on /biz/ do you even know how stock analysis works? Stocks aren't a gamble, just look at Google and a limited information penny stock and you'll see how the fundamentals change which also has a say in the technicals.

>> No.716752


What you say

>I put money towards good stocks so that I may earn money in the long run in a bull trend

What it looks like:

>I only know a little about stocks, I put my money into popular good companies that look sound because analysis is hard. Trading looks like gambling because I can't understand it and I'm a biased asshole.

>> No.716763


That's why you looks for future movement and get into it when it is confirmed you don't look for an ascending wedge and say that every time it makes will uptrend. You look for a bullish breakout then you buy at limit and set a stop loss then sell and make profit.


Retard shitposter, if it makes you money it becomes proof that it works. How do you make a plan? Set parameters and look at patterns, and what is technical analysis? It's the same fucking thing.


Then why does TA work for some and why do patterns repeat? explain that shit uber shitposter.


Mean reversion and standard deviation are supposed to be taught in 10th grade high school of less KEK!

How are these people on /biz/? Where do you come from to shitpost? /b/? /pol/? It fucking looks like it.

How are you supposed to trade or invest without thorough analysis of a stock? If you make any profit at all that is pretty much shit tier luck. All of these posts are fucking trolls baiting.

>> No.716766
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>being so assmad that you serial post
Look kid, if you have to defend your stock trading strategy this hard, then maybe there's something wrong with it? I don't see value investors or buy-and-hold types getting their panties in a bunch like you TA faggots.

Kinda reminds me of a cult. Just sayin'.

>> No.716788

>I don't see value investors or buy-and-hold types getting their panties in a bunch like you TA faggots.

I see them getting their panties in a bunch all the time, usually whenever someone mentions TA and they feel the need to swoop in and shit the place up about how "ya can't beat the market" or some garbage.

Personally, its not really worth bothering with one way or the other. I make money trading how I trade, and I don't give two shits what anyone else thinks about it. The whole thing is either side smugly calling the other idiots and patting themselves on the back about how right they are.

>> No.716796


TA is a part of playing stocks you dumb fuck, and TA is not a solid stock strategy by itself, the fact that you think that makes you looks like a skilled autist.

A stock trading plan has way more put into it, set price parameters, change parameters, good scanner settings, Technical Analysis, Fundamental Analysis, common sense, Market Analysis, Industry analysis, Indexes Analysis.

But hurr durr let me pick on TA because I think TA is a plan and not part of a plan hurr durr.

>> No.716802
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>playing stocks
>TA is not a solid stock strategy
>skilled autist

>> No.716807


I've seen the market eat up and spit out way too many ignorant but cocky little fucks like OP

Emotional and undisciplined.. OP is setting himself up to be slaughtered.

>> No.716838


I said by itself you have to look at the fundamentals too. Stop shooting your own men. You can use Technical analysis on a company that has -3000% EPS and -80 Million in revenue, obviously they are going to go bankrupt. I've actually seen something like this it's sad.

Why you gotta take stuff out of context?

>> No.716842


ignore him, he doesn't actually back up his positions with facts and is just here to troll us.

How do you go about analyzing a potential trade? I'm here >>714598

>> No.716855


Can't use*


Basic TA patterns, that's really what I go off on, like after a huge downtrend and a doji candle with a large bullish uptrend after is a huge bull signal. Or shorting at the end of a head and shoulders when it looks like it keeps going down after the last shoulder, or buying a bullish move after a ascending triangles wedge. basic stuff really.

I'm not familiar using Bollinger bands though.

>> No.716869


Solid. BBs are okay imo. I don't rely on them so much for trading signals, I just like to have some sort of visualization of the range. I'm all about range and range expansions lol.

>> No.716873

I just used a trend line, how fucked am I?

>> No.716998


Mostly fucked. Mostly. xD

>> No.717051

because these assholes drank the koolaid and think there is something 'fundamental' about fundamentals. Markets are a beauty contest. Keynes learned that the hard way.

Also, can you advice my thread?

>> No.717643

Technical analysis isn't astrology. Patterns form whenever market shows signs of imbalance between supply and demand, and bias towards one direction. Each patterns describe a specific market reaction to a specific price level. There is a reason why TA is required to pass CMT and Series 7 exams in Wall Street.

Buy and hold and value investing are entirely different things from trading, and comparing the two things proves how much of a piker you really are. Trading is used on liquid, volatile assets (megacaps, forex,some indexes, ETFs) where you have a more unstable, reactive pricing, for the rest you use long/short approach (nobody uses long only nowadays, but you obviously don't know it) assuming you have a finance degree (you obviously don't) and know how the underlying assets can influence the prices of a security.

Of course you can pretend you are Warren Buffet as much as you like here on /biz/, you have a healthy group of fellow pikers who share your same delusions of grandeur. You can even clash with other pikers who on the other hand, pretend they know how TA works and have long and fruitful discussions on the internet all together, while staying poor and mad, between watching a chinese cartoon and shilling in some scamcoin thread.
Anyway, the lesson is over. I know you are trolling, of course but the level of ignorance on this board is scandalous, so might as well use this post for a good purpose
If it goes in the direction of the main trend, you should be just fine

>> No.717660

TA trader reporting in.

Anonymous Mongolian origami picture board is full of people who think they are better or smarter than everyone else.
Hence all the STEM majors about to make 300k on their first job and the plethora of financial advice from people who are probably worth 5 figures or less.

Considering a lot of traders do fail you can also assume that more than a few people on this board have failed at trading.
People don't like seeing others succeed where they have failed.
Very rarely will someone have the balls to admit that they tried trading and lost all or most of their money.
It's 2 things people don't like to admit. 1) They failed, and 2) They lost money.
It's much easier to roll in and say "TA is bullshit voodoo".

>> No.717873

>Technical analysis isn't astrology.
Hundred of market researchers, economists and academics say otherwise, Then there's you.
>Patterns form whenever market shows signs of imbalance between supply and demand, and bias towards one direction.
Patterns form in nature all the time. Its a proven characteristic of human nature to ascribe meaning or importance to these patterns, usually irrationally.
>There is a reason why TA is required to pass CMT and Series 7 exams in Wall Street.
Because some people are deluded enough to believe in TA, and any broker worth their salt needs to know how to make money off these suckers.
>Buy and hold and value investing are entirely different things from trading, and comparing the two things proves how much of a piker you really are.
Strawman much? They're different strategies for making money in the financial markets.
>assuming you have a finance degree (you obviously don't)
Funny thing is, the more highly educated people are the one's who call TA bunk science. Its the idiots who stay in denial.
>Of course you can pretend you are Warren Buffet as much as you like here on /biz/, you have a healthy group of fellow pikers who share your same delusions of grandeur.
I never made any claims about my investment performance or my net worth. Deflection attempt detected. Stay on topic kid.
>long and fruitful discussions on the internet all together, while staying poor and mad, between watching a chinese cartoon and shilling in some scamcoin thread.
I laughed, but ironically.
>Anyway, the lesson is over
No, you'll be back. Your type can't stand not having the last word. Its an important coping mechanism to maintain the facade and stay in denial.
>so might as well use this post for a good purpose
You failed.

>> No.717884

>Patterns form in nature all the time. Its a proven characteristic of human nature to ascribe meaning or importance to these patterns, usually irrationally.

If there is a pattern in something, then there is a reason for it.This is a fact. Understanding the reason for the pattern and what created it is the basis of science. People may ascribe irrational hypothesis to why the pattern forms, but that doesn't mean that the pattern doesn't mean anything.

Don't be an anti-science faggot just because you can't into TA.

>> No.717904

>If there is a pattern in something, then there is a reason for it.This is a fact.

>Don't be an anti-science faggot

Here's your science bomb for the day, kid. You suffer from Apophenia. Look it up.

>> No.717911

Your type can't stand not having the last word. Its an important coping mechanism to maintain the facade and stay in denial.

>> No.717918


he literally spends all day shitposting. it would be mean to keep responding to him as to give him fuel to keep ruining his life

>> No.717921

>ruining his life
Once again, I'll remind you that I've never mad a claim in this thread about my investment performance or my wealth. Any effort on your part to discredit my opinions based on attacking my investment experience or my wealth are pure ad hominem.

Not that I'm surprised your type resorts to this when all your other ammunition is exhausted and spent.

>> No.717939


once again, i didn't make a claim you were financially ruining your life. you're just straight up ruining your life. then again, you've never made a claim on your investment performance.

also, nice admission to your daily non-stop shitposting.

>> No.717941

It's probably Pizza Fund Manager shitposting again. Just ignore him once identified in a thread. He's had to change his ID before, he used to shitpost back when /biz/ was newer as well, every TA or Forex thread, under a trip (forgot which one).

>> No.717945

>you're just straight up ruining your life
So just a baseless personal attack, then? No grounds for it ... just lashing out for sake of it? Sounds right for your type.

>also, nice admission to your daily non-stop shitposting.
Says the guy who has literally (and demonstrably) shit post in this thread every day for 4 days running. Glass houses.

>Pizza Fund Manager
Literally who?

>> No.717947


>long FXCM
>short GCAP

Did you make money off of that call, as well? Cause I have.

>> No.717948


Did you buy RSHCQ when it was .08? Cause I did.

>> No.717966

Does this have something to do with TA?

God this thread deteriorated fast. Of course that happens to all TA threads, inevitably, but still its fascinating to see it in realtime.

>> No.717967


Shut the fuck up you looks retarded as shit right now, you're one of those cunts we laugh at on


What TA gives you...

>What you made during this time not using TA

0 fucking cash, not a Yen, Dollar, or Euro. Shitposting trolling scum,

>> No.717971
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Lol, is this a typical denizen of /sci/? 4chan never ceases to disappoint.

>> No.717978


When I start seeing some actual math being posted for these threads, then I'll start contributing actual knowledge. These threads were always shit to begin with because they never touch up on the math behind technical analysis.


I scalp in the forex using TA. I don't really use TA much for the equities market, though I still use price, time, and volume.

>> No.718003

Technical analysis is fine, but not in all cases. Let's not forget that it was a technical analysis call on AAPL that held true and really changed that stock's performance (a Fibonacci call). However, in some cases I don't believe a technical analysis falls short, or just falls flat or gets cut out altogether.
For example, I saw a guy on StockTwits today post that he was right on his GE call yesterday, citing technical analysis. Sorry, but I don't care what your technical analysis said, what moved GE was nothing but news.

It's the same with TSLA. There are a ton of people who try and play it technically. Why? Just so when Elon tweets and moves the stock 5% you have to begin a new analysis? Stocks like that are worthless to analyze because there are too many variables.

>> No.718379


OP here, I agree, stocks don't submit well to technical analysis as their are fundamentals built into the stock but change all the time , whereas currencies have fundamentals but don't change often

If there is volatility then TA will be self-fulfilling, unfortunately this isn't the case in equities but currencies/commodities is a different story

Both sets of analysis should be used, my technical analysis in my opening picture was conducted and I knew there would be a breakout, especially with a key news report which forced the break - I had long targets and short stops otherwise a breakout the wrong way would fuck me hard lmfao

You don't play basketball like how you play football, completely different ball game, same should be applied to different financial markets

>> No.718398

Hmm, holding through a key news report on a currency pair is a little too ballsy for me. Don't count on your short stops there- they'll be slipped. Been burnt too many times like that so I avoid it. Whatever floats your boat though. Just remember what happened to the franc.

>> No.719790

Value investor here. Laughing my ass off at this thread.

Please continue.

>> No.719875

How exactly did you practice, if you don't mind me asking? Did you watch the markets every day? Did you pay for data even though you weren't trading off of it?

>> No.720100


Got thinkorswim and spent literally all day watching the prices move and placing practice trades while recording my results. If that wasn't possible because of my part time job, I would use the market replay/historical data feature and do it in non-trading hours. There's no minimum account balance to open a brokerage account with TD, and the data is free.

>> No.720112

Let me answer this for all you young retards:

If the company and its banks and competitors know all about the mercantile "space" they re in, how do you know if their talk is true about their goods or services? You fucking don't. The only people who do are the insiders. TA was designed to know the inside of a market by observing and comparing the price of an equity or derivative of a commodity by smart fuckers who need to know what the value of a company is at any moment in current time. People whi invest or trade do it with volume and price. The measurement of volume and price is TA. If fundamental analysis was so great, why aren't all FA fucks wealthy as Buffett? And in oil and gas, fundamental assholes use charts of storage (TA) as fundamental analysis. So, going forward as Goldman Sachs likes to state, find the right TA and you'll be prosperous.

>> No.720139

>doesnt cite. Just take my word on it.

>> No.720532

>If there is a pattern in something, then there is a reason for it.This is a fact.

That's why I make my stock choices based on the patterns in the entrails of slaughtered goats.

>> No.720703

Stocks/ commodities/ forex are always trading. Every second and millisecond of the trading time frame there's analysis going on. News, earnings, etc, are only a snippet of the input. Most of the price action is determined based on technical analysis. TA is always at work, all time frames, etc. TA is a visual of market psychology.

There's a time and place for both fundy and TA stuff. I can tell you from looking briefly at a chart where you'll find turbulence and smooth sailing. I can't do that from looking strictly at fundy numbers. A company that's posting good numbers 'now' can very well be halfway through an earnings quarter that's bombing. Price action trumps everything.

How many people are wrong on earnings because they called this or that based on numbers from previous quarters?

>> No.720711

Automate what you do using real data, and if you actually make the right decision more than 50% of the time over a simulated year of market data, you have me impressed.

Without this testing of your "method", it's still basically guesswork no better than stock pickers.

>> No.720713
File: 291 KB, 1640x900, 3c_trading.jpg [View same] [iqdb] [saucenao] [google]

All you need to cite is a fucking high school statistics book: Moving averages (really good TA) are everywhere in a high school statistics textbook. If you dumbasses look at job posting in the energy trading sphere you'll see demands for analysts who understand "S" curves.

Citing the benefits of technical analysis is like citing the benefits of breathing.

>> No.720729

>Citing the benefits of technical analysis is like citing the benefits of breathing.
Except that breathing does something useful and productive.

>> No.720785


Goat entrails do not correlate with stock, goodbye shitposter.


Now you are just picking random shit to argue on because his main argument won, leave shitposter troll.

>> No.720798

Somebody won? Oh huzzah. We've crowned the king of retard traders and lord of the poorfags!

>> No.720824
File: 55 KB, 560x828, 1413588385430.jpg [View same] [iqdb] [saucenao] [google]

>Why do people hate technical analysis /biz?

Because it's basically trying to extrapolate economic performance and variables from arbitrarily projected straight lines and pretty patterns.

>> No.721034


>actually betting ON the earnings RELEASE

Thanks for the liquidity.

>> No.721291


True, I don't do all this mumbo jumbo shit TA that most people will do - I attempt to find the next market movements through TA with possible places of exits. I always look up anything that may affect the currency pair in the short term because news releases, disasters etc. will cause volatility and unforeseen prices.

I find it weird how people can disregard it in such liquid markets when simple things like S/R price action works time after time for me and if it fails then I've always got a stop to limit my losses (I aim for 2:1 - 3:1 R:R).

I can fully understand why people hate it in equities etc. Because the liquidity and volatility isn't as high thus the prices are far more fundamentally driven than self-fulfilling.

I just wish people could appreciate the benefits to TA and simply incorporating basic PA can help spot movements in the market and potential exits.

>> No.721301


Dude you have become the laughing stock of the whole board. I mean you can stay, of course, i do need a retard to entertain me while my T Bond positions keep pumping cash into my pockets, but i really think you should stop posting.