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8914299 No.8914299 [Reply] [Original]

Why do people still fall for Technical analysis?

>> No.8914319

Because humans are hard wired to recognize patterns, and therefore believe that patterns must exist in everything.

>> No.8914395

>>8914299
because you can make money with it

>> No.8914428

>>8914299
ALERT:
Technical analysis does work.
OP is likely a shilling for a whale who is losing money to new December traders.

>> No.8914440
File: 24 KB, 466x490, 1520543199710.png [View same] [iqdb] [saucenao] [google]
8914440

>>8914428

you need gassed

>> No.8914449

>>8914299
Because it actually works. About 50% of the time

>> No.8914464

>>8914449

> technical analysis
> same odds as flipping a coin

>> No.8914487

>>8914464
unironically that anon is correct. it usually works more than 51% of the times, so if you know how to trade you'll make money in the long run

>> No.8914490

>>8914428
LOOK AT THIS PATHETIC TA LOSER SHILLING HIS TWITCH CHANNEL WITH 93 FOLLOWERS AND NO VIEWERS

HOLY SHIT THIS IS PATHETIC

*INHALES*

>> No.8914603

>>8914440
I've been an MMO whale forever.
Trust me, we're going to see a huge shill campaign against TA and daytrading because whales do not want shrimps taking their pie during this redistribution phase.

>>8914490
it says I have 99 subs and 6 viewers.
Also I don't preform TA.

>> No.8914617

TA works but there's a disinformation campaign to tell you it doesn't so you get demoralized and don't try.

>> No.8914623

>>8914603
There's nothing wrong with day trading. It's the memelines that are the issue.

>> No.8914724

>>8914299
stupidity and naivety mostly

>>8914395
>>8914428
>>8914487
>>8914617
normies of finance who believe in TA

please leave and never come back... we already got all the ico shills we dont need you idiots as well

>> No.8914778

>>8914623
How does one day trade with out some sort of TA?

>> No.8914937

Because at least is something.

Or you better invest doing tarots?

>> No.8914964

>>8914937
>Because at least is something.
well its not

>Or you better invest doing tarots?
wouldnt make a difference.

>> No.8915149

How can you tell without any T.A whether the price of the asset is fair?

This is why you buy high and sell low.

>> No.8915258

>>8915149
>How can you tell without any T.A whether the price of the asset is fair?
how can you with TA? TA has been proven to be bullshit and worthless

>> No.8915281

>>8914724
You proved me point correct. TA works but there's a disinformation campaign to tell you it doesn't so you get demoralized and don't try to use it.

>> No.8915297

post some guides to study and improve technical analysis

>> No.8915428

>>8914778
buy high sell low

>> No.8915436

>>8914464
50% is amazing odds. If you’re making 10% each time you win and -1% each you lose and win 50% of the time you’re going to make a shit ton of money.

>> No.8915447

i think ta is mostly correct usually when they predict a fall, but when they predict it will rise it is usually 50/50.

i sell mostly when t.a.'s say to, always was able to cut my losses

>> No.8915467

>>8914299
Because TA works flawlessly in hindsight.

>> No.8915489

TA means several things.
>MA and others derived from MA
These are nearly worthless
>patterns
only works with deep analysis
>memelines
Any given line is useless, you can draw 100's of them on any chart.

>> No.8915506

>>8915281
yawn... come back when you have proof normie of finance

>> No.8915551

>>8914724
>>8914964
TA is worthless to predict the market consistently. just like tarot.

but ta in general, elliot waves, market cycles, tarots, or whatever else can give you an edge in trading if you know how do it.
with proper money management, posizion sizing, entries and exits, you can trade profitably on anything with 51% chance of being right because you'll make money in the long term (well, technically you can trade profitably even with a 5% success rate, if the winning trade covers all your previous losses. for 51% edge i mean that for every dollar you lose you earn at least 1.01$ in the long run).

>> No.8915560

>>8915506
>muh proofs
I don't really need to prove anything to you because I make money using TA. You are welcome to believe it doesn't work.

>> No.8915573

If enough coin dorks use TA, won't that make TA effective?

>> No.8915587

>>8915551
>can give you an edge in trading if you know how do it
just no and if so link me one legit study for it. i can link you some against it easily

>>8915560
>I make money using TA
no you dont. thats the point. but apparently you lack the brainpower to grasp that. people make money in roulette aswell you dipshit

>You are welcome to believe it doesn't work
you dont believe facts they are just there and to accept.everything else is just stupidity

>> No.8915613

>>8915587
>no you dont.
Uh, yes, I do.

>> No.8915621

>>8915587
read the van tharp's book "trade your way to finincial freedom" for instance. he actually proved that you can even make money consistently by using a coin toss as the entry signal

>> No.8915630

>>8915587
>just no and if so link me one legit study for it.
There are plenty that shows using TA gives an edge.

If you rely on academia to teach you about the markets you are helpless anyways.

>> No.8915667

>>8915587
>people make money in roulette aswell you dipshit
ta is more like counting cards in blackjack actually. except the edge in blackjack is absymal, even when compared to poorly drawn memelines

>> No.8915674

>>8914299
If TA is useless then how the fuck do people make money with them? There are thousands of traders that trade live on their chatrooms/youtube/whatever, even for free. Do you think they're all lieing, every single one of them?

If it's luck then how do they constantly make money?

>> No.8915690

>>8915621

or just hold for longer than 5 years where 90% of investors make profit

(in crypto i would say hold for 1 year to make profit)

>> No.8915694

>>8915613
you think you do but you dont. again you apparently just lack the brainpower to understand what is making you money

>>8915621
>read the van tharp's book
srsly? a book? a book that has been written to make money? gosh you are stupid. get some scientific papers as reference or just fuck off

>>8915630
>There are plenty that shows using TA gives an edge. link me one that has credibility and has no flaws in its statistics

>If you rely on academia to teach you about the markets you are helpless anyways.
interesting. then why is no professional in finance using your shitty ta and every regulator has an academic education in finance?

>>8915667
>ta is more like counting cards in blackjack actually
well actually not. TA even adds negative return to your trading because of fees. so actually TA is losing you money

>>8915674
>If TA is useless then how the fuck do people make money with them
50% do yes. but thats the same result you get by trading randomly... cmon try to use your brain...

>> No.8915707

Is TA the biggest pleb filter in finance? Easy to spot abject retards by seeing who doesn't believe in it. I'm sure the random NEETs on this board know more than professional investors who use TA as part of their decision making process lmao

>> No.8915717

>>8915694
>interesting. then why is no professional in finance using your shitty ta a
You're wrong.

>> No.8915722

>>8915674
>Use Technical analysis
>9/10 trades are loosing ones
>1/10 is finally a winner
>"It was totally because of my sick triangles, forget the other 9 times that TA didn't mean shit"

>> No.8915735

>>8915690
holding works as well in bull markets. the only reason to start trading is if you can make a trading plan that's more profitable than buy and hold approach. if you don't have time/can't code/whatever than holding is 100x better than buying high selling low like 99% of autists do

>>8915694
>srsly? a book? a book that has been written to make money? gosh you are stupid. get some scientific papers as reference or just fuck off
fine, don't read it

>>8915694
>well actually not. TA even adds negative return to your trading because of fees. so actually TA is losing you money
this statement is completely wrong, but i'll just say that there are markets without fees anyway. even fucking gdax has 0% maker fee.

checkmate autist

>> No.8915740

>>8915717
Wall Street laughs at technical analysis

>> No.8915744

>>8915740
Again, wrong.

>> No.8915757

>>8915694
... You have never picked up a book... Read market wizards, a lot of top people use ta in their strategy.

>> No.8915759

>>8915717
how would you now? ever been involved in hedge fun management, asset management or any kind of professional trading?

NOBODY uses TA there. absolutely nobody

>>8915735
>fine, don't read it
nice capitulation pleb

>this statement is completely wrong
too bad nobel price winners disagree with you

>>8915740
this

>> No.8915762

>>8915694
>50% do yes. but thats the same result you get by trading randomly... cmon try to use your brain...

What, that doesn't even make sense. If it was random, they wouldn't constantly be making profitable trades you idiot, they would be winning about 50% of their trades, when they win 75%+.

90% of retail traders fail because they don't know how to properly manage money, if that's what you're referring too. They don't have the right strategy and let their losses run and cut their winners short

>> No.8915769

>>8915722
>>9/10 trades are loosing ones
>>1/10 is finally a winner
>>lost 1% nine times and made +50% on the last trade
woah...

>> No.8915786

>>8915759
>too bad nobel price winners disagree with you
too bad nobel price winners thought that the market is efficient and caused the biggest financial crises of the century

>> No.8915788

>>8915759
>NOBODY uses TA there. absolutely nobody
How would you know? have you been involved in every fund on wall street?

>> No.8915804

>>8915786
yeah that guys posts are one giant appeal to authority, it's kind of pathetic that he believes everything he is told.

>> No.8915821

>>8915804
i know you're just a 12 yo who loves shitposting but whatever
https://www.firstpost.com/economy/the-theory-that-caused-the-financial-crisis-gets-a-nobel-prize-1172601.html

>> No.8915829

>>8915757
>a lot of top people use ta in their strategy.
well alot of people are pretty stupid

>>8915762
please get a lesson in statistics and then come back with a proper response because this is just embarrassing

>90% of retail traders fail because they don't know how to properly manage money
good job at recycling statements from youtube gurus who make money by stupid people buying their courses... fuck off already

>>8915786
what is fraud

>>8915788
its my job to manage assets and no one with any knowledge uses it. quantitative analysis yes. but thats something beyond you if you believe in TA

>> No.8915837

>>8915804
>>8915821
mean to quote him obviously

>> No.8915840

>>8915821
What? I agree with you. He is the kind of guy who spouts off about the efficient market hypothesis but is unaware of the Grossman-Stiglitz paradox. He says "technical analysis doesn't work" but he has never once run a backtest himself, he only takes the word of other people who say they have.

>> No.8915859

>>8915829
>quantitative analysis yes. but thats something beyond you if you believe in TA
A lot of QA is just rigorous application of TA, congrats on showing you know nothing.

>> No.8915871

What about trendline breaks, triangle breakouts and support and resistance.. do they count as technical analysis? they basically all the time. Sure they don't increase the chances of the price going up or down. It is probably still 50/50. But at least they can give you point of entry and you can control losses by setting a proper stop loss. So what exactly is wrong about using TA on those occasion?

>> No.8915901

>>8915722
You should watch some more traders, most of them are usually 3/5 on winning trades each day. Even if they lose more than they win, they keep the losses low.

That's what TA is about, finding good R/R places to take trades

>> No.8915951

>>8915901
No, it's about confirmation bias and drawing arbitrary lines on equity graphs, but it works sometimes so that means that it works all the time.

>> No.8915954

>>8915901
i'm personally using a trend-following strategy and i keep documenting all my trades. i usually lose up to 25% on losing/brekeven trends during sideways periods, but then i make around 75% on one big trend, bringing me in profit. then the cycle repeats.

i got around 3 profit factor, so for every dollar i lose i make 3$, but it's ok for now

>> No.8915958
File: 119 KB, 1242x1231, 1520360374142.jpg [View same] [iqdb] [saucenao] [google]
8915958

>>8914299
why are you such a raging faggit, OP?

>> No.8915986

>>8915859
>A lot of QA is just rigorous application of TA, congrats on showing you know nothing.
as i said its beyond you... you wouldnt say that if you actually knew what qa is

>> No.8916019

>>8915871
You don’t understand probability. The chance is NOT a constant 50%.

>> No.8916158
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8916158

I just can't disagree with lord Boomer here.

>> No.8916219

>>8916158
the boomer here actually denies the second part of the tweet. anyone with a 3-digits iq knows that it's impossible to predict the market

>> No.8916373

>>8915951
okay well if it makes money, who cares?

so it works if it makes money, that's it. you can say it's about luck and bullshit, but it makes money, or else people wouldnt use it

>> No.8916374

>>8916219
Depends what you mean by "predict the market". Say for example that stocks with a certain P/E value have a 51% probability to increase in value over 24 hours. Would it be predicting the market to buy it? Certain attributes can collerate with share prices allowing you to make better bets. It probably won't be much better than random chance though.

>> No.8916406

>>8915954
Same, trend following strategies are the best. Personally I use a pullback strategy, wait for a pullback to around the 20MA after a confirmed uptrend then get in.

>> No.8916472
File: 174 KB, 1470x676, Screen Shot 2018-04-15 at 8.29.30 PM.png [View same] [iqdb] [saucenao] [google]
8916472

>>8914299
I like to randomly post winning advices on /biz/ and see how no one takes the time to read. So here is one again.
Reversal at 8600 back to 7000. Then sideways, then pump to 11500 to touch the long term down trend in mid june.
Sell @8500
Buy @7000
Sell @11500

>> No.8916574

>>8915986
this based anon trying to tell you plebs some truths but no, keep drawing imaginary lines and not actually using your brain

>> No.8916587

>>8916219
I don't think he's denying it at all. It's more like
> I like this (possible) path price could take from here so I'm going to open a position here and I'll close here or here or maybe I'll change my mind once I see my prefered path is very different from the one price is taking
Does that make some sense? You can't really know what's going to happen next, that's brainlet stuff, fine, but you can see if your expectations are getting closer or farther away from reality and what things are different.

>> No.8916760

>>8916587
>>8916374
that's what i'm saying, you can't predict shit, but you can place your bet, and if you you have at least 51% chances of winning and know how to trade than it's enough to make money

>>8916406
i use kumo twists on 30m charts. i really don't like indicators that repaint themselves, at least on short timeframes