/biz/ - Business & Finance

>>26138241
it's useful in the sense that it can help narrow down future price moves, but its predictive power is still incredibly low

>>26138241
Human emotions repeat in similar situations. Algorithms are by definition repetitive. In that sense, pattern analysis can provide some insight. But it is not enough to drive an investment decision.

>>26138241
It's useful if you're not a nigger. In other words if you have high enough IQ to be able to use it properly.

definitely not useful, complete bullshit 99% of the time and is simply for lazy traders

>>26138241
Nice fucking ID OP holy shit
And very topical for this thread
The redpill is that when you take away the meme lines, all these chart patterns look the same

The redder pill is that chart patterns work to an extent, but will leave you outclassed and misallocated in bigger, broader market moves like we saw on the nonstop upward move to $40k after $20k over the last not even two months

>TA

If they worked algorithms would be able to out-preform the market. But they can't.

>>26138241
Useful slightly... but not really. Intuition about current events combined with TA and some knowledge is the best strategy. Even then hindsight is 2020. Been in this since 2013

>>26138584
This is for short term trading. S2f model is pretty accurate for btc

FA > TA

TA is real however, because enough people believe in it. Personally I only use it for super basic support / resistance and keeping an eye on volume on the 1D and 1W timescales.

TA should only confirm hunches. if you rely on TA as a place to start you'll misinterpret everything

>>26138241
only useful because so many faggots use the same indicators. If no one followed the cult it would be meaningless

You really have to understand what you are investing in crypto.

TA can be good with no news when trying to buy in at a good price point. Otherwise it’s only good for things like Bitcoin. TA on alts is mind numbing.

>>26138241
It's a larp until you gain enough experience. Then it just becomes a tool like any other for you to try disprove hunches regarding whether or not x will go up or down. Hypothetically, your investment strategy should look something like:
>keep abreast of the global cultural, political, and economic situation by following the news and reading reports
>as a result of new information coming in, come up with a hypothesis that something is going to go up or down over a period of time
>do more specific research to disprove your hypothesis
>once you can conclude beyond a reasonable doubt that your hypothesis has some basis in reality, make your investment
>if things go sour, use the experience to find out where your assumptions were faulty and if/what you missed while doing research
>repeat process until you can make reasonable predictions to refine the process further
It should go without saying though, that day trading using TA is retarded.

>>26138457
If it’s wrong 99% of the time that means it’s extremely useful because you could just do the opposite and win 99% of the time

>>26139799
My strategy looks like this
>pull up the day's lowest stocks
>POOMP EEET
>sell green
>repeat

>>26138241
>>26139908
And don't forget that you're just going to get randomly BOGGED sometimes.