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14613641 No.14613641 [Reply] [Original]

>get into forex after tons of reading about technical indicators
>results are chaotic
>decide to find out which technical indicators are statistically the best
>nothing comes up
>decide to write my own program to analyze 8 years of 15m data
>start with candlestick formations
>all come back 50-50 (zero correlation)
>move onto multiple actual indicators
>all zero correlation
>moving averages
>zero correlation
>trends with dynamic support and resistance
>zero correlation
>mfw its all voodoo but no one talks about it
Why hasn't technical analysis already been debunked? Computers have been around for long enough.

>> No.14613661

>>14613641

yo dude technical analysis is only there to figure out potential degrees to which an event will happen.

you gotta figure out what will happen fundamentally first. thats why you're re-turtled.

>> No.14613671

>>14613661
>I don't understand the efficient market hypothesis

>> No.14613699

>>14613671

i have a masters degree in quantitative economics and have two years experience at a prop trading firm in chicago.

EMH is a complete joke.

>> No.14613851

>>14613641
Just be yourself, bro.

>> No.14613978
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14613978

>>14613641
At best you will find a temporary exploit via obscure combinations of indicators that give a slight edge.
There are much bigger and wealthier dicks than you out there though and they will find them first.
TA is best used for mass psychology, and finding decent entry points, not for outguessing a better algorithm than yours. sorry.

>> No.14614053

>>14613641
There's a textbook on TA called evidence-based TA. The author went through over 5000 indicators that TA has created and found non of them outperformed the S&P 500. TA is largely BS.

People only look back on their TA that turned out to be correct and ignore all the times they're incorrect. Or their analysis will have a convenient escape where they may have forgotten to consider something- it couldn't possibly be that the TA doesn't work to begin with. Most people online are virtual palm readers.

The few people making money with real evidence-based TA are probably at hedge funds and won't share their models as easily.

>> No.14614068

>>14613641

You realize that there really isn't a true forex market, like there is a market for shitcoins on Binance or the NYSE.

It's a simulation of a market based on derivative instruments and contracts, and of course meant for the consumption of retail morons to get milked.

>> No.14614078

>>14613641
just go with it dude