>inb4 you're a brainlet who can't undertand TA I have been using TA, patterns, RSI, MACD, EMAs, Bollingers, CVD, OI, candles, volumes, momentum, market cipher... for a whole year and my conclusion is that only half of those indicators are useful IN A NORMAL MARKET, and ONLY in the long term.
Are prices random in the medium and short term? Can future prices be predicted from past prices? Is just a bunch of monkeys drawing lines in a chart at their convenience?
Every time I put this discussion on the table in telegram groups they all dilate, cope and confront each other to the max saying that they get money out of it, when I ask them about their tax returns none of them are able to show evidence (usually day-weekly traders)
I do make money trading based on TA + FA. Thing is you actually have to be really good but moreover so and I bet (You) don’t: control your emotions. It’s true, 95% of TA is trash. I wonder if one day (You) understand the depths of hell I been through to actually be profitable. Anyways, even so I am profitable, I’m not getting rich quick because I started out with 5k trading account after blowing up 3-4 times. Now I quit my wage job and live a lower middle class life from trading. It’s just another job really unless you have a big account you start with. I like it though. I hated the office cuckery so much
Jack Butler
traders loose money
Ryder Davis
manual day trading is a meme, you need to follow a system to be successful and avoid emotions. This is literally what algo trading does and you can play 4 tables at once so you can actually take advantage of the law of large numbers
if you are too brainlet for that then regulate yourself to low frequency mid-term swing trading, like 1 trade a quarter. Any more than that and your retard brain has too many opportunities for mistakes
Juan Jenkins
i do trading based on my saging skills, and so far so good
Jayden Carter
Enjoy reading your tea leaves while I buy Solana and continue making money.
Cooper Jackson
I have come to the conclusion that all TA indicators are absolutely worthless bullshit. And just so you know I’m not talking out of my ass, I setup various open source softwares supplies with many years of historical data and did MILLIONS of backtests using every possible setting for all the most common indicators and some obscure indicators. Going through so many permutations of the settings results in untold millions of tests over years and years of data. Though this, I basically discovered that the only value of any TA indicator is hindsight and they are not forward looking in anyway. And the only thing you accomplish but doing a million backtests like I did is overfitting the tests to the point that you can generate a billion percent return against a SPECIFIC set of historical data but the same parameters will fail miserably in a live trading scenario.
In all seriousness I recommend astrology as it is far more accurate. Study the book The Tunnel Thru the Air.
Caleb Butler
sounds like too much noise and not enough signal getting through.
In fact, I have been watching software engineers using artificial intelligence and data analysis, all with a lot of statistics and mathematics involved and with significant profits but far from the numbers of day traders. so I can't believe that a retard at home can do it just by following lines.
There are myriad ways to play the (stock) market. TA is certainly a part of many systems. Only about 10% of traders make it (i.e. become profitable and stay profitable) and none of them will tell you about the system they have developed over years of crying themself to sleep blowing up one account after the other.
Jordan Richardson
I don't really trade in the normal sense, I generally have a higher time frame so I get time to my advantage but I use things like trends and panics and support/resistance that kind of shit, but I think it's kind of a meme so I supplement with social indicators and long term and this is really my advantage, reading social indicators and long term view, most people are easily influenced in the markets, I think it's all a meme and just a game, and ability to wait for the money. I also have a really good long term unique framework that not many use and just try to wait for big moves like panics and big pumps and that's where the little TA comes in
Carson Carter
Why would traders specifically have loose change?
Dylan Moore
classic example of why engineers with zero common sense, background knowledge, or real-life skills, relying too much on their craft, create absolutely worthless bullshit
Matthew Green
i follow the philosophy: all TA should strictly help with visualization; no basic chart TA will reveal something about the price movement that the chart itself doesn't already reveal.
charts and volume are useful for stocks to get a decent idea of how past events impacted price, which helps in judging current events. i usually use an EMA-difference adjusted view to make smaller movements in volume clearly visible, since the full size of the volume bars is mostly noise (i also have two 2-EMA-sigma bands set up for these just for visualization purposes to be able to tell at first glance whether volume is abnormal). 100+ bar long linear regressions with 2-sigma bands are useful to judge the range within which price movement is "normal". i prefer using these bands over stuff like BB, RSI or MACD or whatever, since they're much more trend-aware. for the broad market (adjusted by inflation or GDP if you like), long term exponential regressions are really useful to judge whether the market as a whole is over- or undervalued. depending on the economic data you're looking at, either long-term linear or exponential regressions are also useful to judge whether current economic trends are abnormal. for price trend visualization, i use a noise filtered (trueHigh + trueLow)/2 curve (noise filtered: the curve is going straight if the curve is just moving in an EMA-sigma/2 range). i also use the previous close for the open of a candle, not the actual open, since i find it easier to read that way. this also filters out gaps, and i don't really believe the gap filling theory anyways. in the short-term, resistance and support can be sort of useful if you have determined that the fundamentals haven't changed, in the long-term you should really stick to either a regression trend analysis or a manual assessment since resistance/support are expected to trend as well and since conditions don't stay the same over a long time..
and that's about it. i don't like rigid candle patterns, moving averages on their own, BB, RSI, MACD, etc., since they don't really tell me anything that the chart doesn't and they mostly just provide a lagged view of what the chart tells me. finally, for visualization, i also have a regression overlay indicator for economic data. i wrote all of these scripts myself so that i know what it's doing. eventually, i want to write more visualizations for specific fundamentals (economic data, financials, depth of market, derivative info, etc.), but i haven't really found anything sufficiently non-noisy so that i like having it on my chart or below it. maybe some day.
Oliver Smith
forgot to mention that i don't use any of this for short-term decisions. i don't daytrade, all of this is just to make the right long term calls at a decent time. my trading decision is mostly decided by fundamentals.
Brandon Rogers
Thanks for your answers anons, I think those are good ways to use TA and make more sense than what the day trade wizards said. short-mid term is a nonsense and the TA ended up being another point of view
Joseph Roberts
All you need is Levels, Trends, Volume, MA's Everything else is just simplifying this concept in an easy to digest but diluting way
