/biz/ - Business & Finance

>>53789251
TA doesn't work.

>>53789328
sure thing niggo

>>53789340
Gamblers fallacy.
https://en.wikipedia.org/wiki/Gambler's_fallacy

>>53789354
>Gamblers fallacy.
>https://en.wikipedia.org/wiki/Gambler's_fallacy
OMG, SCIENCE

And still, I'm making decent money with that bot, probably some day it will understand he's in a fallacy, lol

>>53789414
I accept your concession.

>>53789436
Problem with science s0ys is that they use the wrong concepts to justify the fact they're a bunch of pussy losers

>>53789251
do you ever trade just price action?

>>53789529
yep, I do that too

>>53789251
Id tell you what I am doing to profit without using TA but I want you retards to keep using meme lines.

>>53789251
TA is a meme
Ichimoku is a meme

Tl;dr for TradingView users:
Don't add bullinger bands onto PRICE, add it to the MEAN OF RETURNS for something more practical.
https://www.tradingview.com/script/LiQbTD6e-Moments-Mean-Variance-Skewness-Kurtosis-pig/

You're welcome

>>53789870

Modified schiff median line is one of the only indicators that has gotten me halfway to somewhere

>>53789251
I spent part of this evening doing some paper trades on my Ichimoku/Stochastic RSI strategy. Picrel is my best.
Definitely buying into XLC when it gets into position, ha.

>>53789529
the problem with just trading price action is that computers can do it better than your eyeballs can. from a signal jamming perspective you need tools to assist

>>53789870
Ichimoku is based if you know how to use it

>>53789870
>https://www.tradingview.com/script/LiQbTD6e-Moments-Mean-Variance-Skewness-Kurtosis-pig/
Also to make sure the description of this indicator.

>We use log returns as the default input for source here. The reason why we use returns instead of price itself is that moments provide better information on the distribution of returns. Unlike traditional technical analysis , people in quantitative fianance rarely do their model calculations on price, they usually do them on returns. For example; the calculation of historical volatility . The price itself usually has a lower bound of 0, and it approximately follows a lognormal distribution. Therefore it always has a significant skewness. There are also trends and cycle components in price. It makes the time series non-stationary; therefore, models may provide unreliable information and lead to poor understanding and forecasting. For example, the autocorrelation of price is always positive because today's price is calculated based on yesterday's price. While returns are usually detrended and stationary, the moments of returns provide useful information about the shape of the distribution.

>The first Raw Moment is the Mean. It indicates the central tendency of a distribution. People talk about the Mean a lot in trading when referring to moving averages and mean reversion. But when we talk about the mean in our previous scripts, we are talking about the mean of returns. So when indicators like the Hurst Exponent , Durbin Watson Stats or Variance Ratio Test show negative autocorrelation, which implies mean reversion, the mean we are refering to is the Mean of returns, not the Mean of price. When they target the mean to revert, they shouldn't be targeting the SMA of price. They should target the returns to the mean of returns. People usually use the mean of returns as an expected value of stock returns. They find the average for past performance and using that to get an idea of where the share price might go next.

>>53789975
Also make sure to read the description of this indicator*

>>53789983
I didn't understand it, but ok, I'm comparing it with the RSI here

>>53790014
The issue with technical indicators is they make incorrect assumptions of what we know about price. RSI assumes price is mean reverting when it’s not. Over bought/ over sold prices does not comport to any concept in mathematics. Also there’s double division in the rsi equation, and when that happens there is a cancelation.
https://www.tastylive.com/shows/the-skinny-on-options-math/episodes/relative-strength-index-02-05-2015

>>53789870
Cool indicator. Thanks bro.

>>53789870
thank you fren

Anyone try an open source trading bot? Seems to be a lot of them these days. No sense writing my own when someone smarter made an optimized one. Anyone heard of Hummingbot?

>>53790014
what is your system and how do you use it?

>>53790247
That could be said about literally every indicator. Are you implying the indicator you posted is somehow capable of predictin reversals accurately somehow?

>>53792929
we were talking about the BA indicator mentioned before, which is the first, while RSI is the second

>>53790247
Well, OB/OS values are just arbitrary, for my experience they kinda fail just when there's a strong uptrend/downtrend, this can be fixed by looking at bigger timeframes too or adjusting the RSI parameters.
For what I see this BA doesn't have fixed values (0-100) and this can be a problem in some cases.