/biz/ - Business & Finance

[Anonymous No.13236793]

Why do people believe that TA somehow has more credibility than tarot or chicken entrails reading?

[Anonymous No.13236809]

Because it has “technical” in the name

[Anonymous No.13236808]

>>13236793
all TA faggots got rekted on the pump

[Anonymous No.13236814]

>>13236793
because whether it's real psychological trading patterns, or self-fulfilling prophecy, people use it to guide their trading

[Anonymous No.13236849]

>>13236793
Same reason why people believe in the Bible: idiocy

[Anonymous No.13236865]

>>13236793
Because it works (not all the time).

[Anonymous No.13236876]

>>13236849
t. has never read the bible

[Anonymous No.13236899]

>>13236876
t. Can’t distinguish different levels of truth

[Anonymous No.13236923]

>>13236849
Imagine being this euphoric

[Anonymous No.13236943]

Because when it works it releases endorphins, and when it doesn't they quickly forget about it.

[Anonymous No.13236970]

>>13236865
That's the point. Every random shit works sometimes. People tend to remember when it did and ascribe special meaning to those events, and just forget when it didn't.

[Anonymous No.13236991]

>>13236793
The existence of successful traders indicates that TA is effective.

[Anonymous No.13237005]

>>13236923
Imagine having that shitty imagine ready to post as your way of refuting

[Anonymous No.13237023]

>>13236923
>Imagine being this euphoric

While welcoming Islam en mass into your boarders because its totally not a religion.

[Anonymous No.13237030]

>>13236991
No, it means that some people get lucky and most people don't.

[Anonymous No.13237035]

>>13236849
Word. Christfags are proper bellends.

[Anonymous No.13237053]

>>13236991
>>13237023
Another retard from /pol/

[Anonymous No.13237102]

>>13237053
>Another retard from /pol/

Cope

>>13237030
>No, it means that some people get lucky and most people don't.

Yeah sure outside of the fact that some people consistently stay lucky for multiple years. You fucking cucks, open you god damn eyes you morons. If TA was useless then there would be exactly zero consistently successful traders in existence.

[Anonymous No.13237115]

>>13237005
Imagine having to bring your retarded prejudices into a completely unrelated thread and then crying about it when you get made fun of for being an obnoxious fag

Not even a christian, I just hate self important dunning kruger redditors like you. Go post that on reddit and drown in all the upboats.

[Anonymous No.13237118]

>>13237023
Islam is based

>>13237102
If TA was useful every trader would be a billionaire

[Anonymous No.13237130]

>>13236793
Because Technical Analysis is an enormously broad term that tends to be a catch all for anything other than Fundamental Analysis (which is also enormously broad). It's like using the term "medicine". Your doctor prescribing you antibiotics is practicing medicine, but the crazy hippie danging crystals over her "patients" is also in her own way practicing "medicine." People just like the simplicity of TA and FA as categories, but they don't do all of the types of subcategories justice that might fall into the overall category of either TA or FA. The guy with a satellite or a drone measuring oil supplies is practicing Fundamental Analysis by most people's definition, but so is the turd who thinks he's Warren Buffett because he is buying a stock with a low P/E.

tl/dr: You have Technical Analysis and Fundamental Analysis, but they're enormous in scope and not every sub-category is adequately defined enough so it all gets lumped together valid with invalid.

[Anonymous No.13237144]

>>13236793
It's no different than your blind hopium.

[Anonymous No.13237152]

>>13237115
>prays for something
>happens
God is real!
>draws memeline
>happens
TA works!

See the similarity now you dumbfuck. Shove your shitty assumptions about me up your ass. You’re no smarter than the average biztard

[Anonymous No.13237168]

Now if the thread was talking specifically about Elliot fags then maybe it would hold some water. But pattern recognition is LITERALLY HOW YOU BRAIN WORKS. Or at least it should if you weren't such mentally retarded Rajeeshes

>>13237118
>Islam is based

Yeah its based on bullshit and its core tennet of the religion is to lie to people outside of the religion to protect it from outsiders while it promotes suicide bombing. Pretty fucking based bro. You are definitely convincing people here that TA is not real but Allah is!

>>13237118
>If TA was useful every trader would be a billionaire

Its player vs player online gambling with a high skill ceiling. A Rejeesh like you probably cant compete.

[Anonymous No.13237171]

>>13237102
>Yeah sure outside of the fact that some people consistently stay lucky for multiple years.
Toss 10 coins a million times and you're guaranteed that some tries will yield 10 consecutive heads.

[Anonymous No.13237190]

>>13237152
I remember when atheists used to at least be fairly smart. These reddit atheists who grew up secular and never went through the whole self-reflection journey are just pathetic.

[Anonymous No.13237191]

>>13237171
>Toss 10 coins a million times and you're guaranteed that some tries will yield 10 consecutive heads.

But you needs hundreds if not thousands. Over a period of time some people come out consistently more successful than others due to having superior pattern recognition. Kinda like EVERYTHING ELSE.

[Anonymous No.13237219]

>>13237190
>I remember when atheists used to at least be fairly smart. These reddit atheists who grew up secular and never went through the whole self-reflection journey are just pathetic.

I get your angle but its falling flat. You need to make an argument about how pattern recognition is irrelevant and the universe is completely random and the only reason humanity is more advance than animals is random chance. Thats the argument that is being made right now.

Take your Islam and atheism bullshit out to the trash where it belongs.

[Anonymous No.13237248]

>>13237191
My point is that among million traders a handful will come on top by pure chance, not some pattern recognition skills where patterns may not even exist. A nice book on the role of chance in life (and biz too) is Drunkard's Walk.

[Anonymous No.13237270]

>>13237248
Imagine needing to read an entire fucking book to comprehend a fact as obvious as 1+1=2.

[Anonymous No.13237273]

>>13237219
I'm not an atheist anon. That self-discovery journey doesn't end with atheism, which is merely the first stage that results from the initial discovery of abstract thought during adolescence, but is missing wisdom and life experience. As of right now I've gone full circle.

[Anonymous No.13237297]

I mean, it's not magic - it's just using using data to interpret [highly repeated] human behavior. some people just understand the tools better than others - same as anything else

>>13236991
This, but shit traders need to cope somehow.

[Anonymous No.13237304]

>>13236814

>Exact.

[Anonymous No.13237319]

>>13237273
>self-discovery
In other words you’re a useless armchair “philosopher”

[Anonymous No.13237329]

>>13236793
Because it attempts to read price movements in order to predict price movements, instead of trying to read cards or chicken entrails to predict price movements.

[Anonymous No.13237334]

>>13237319
As opposed to what, an unthinking atheist who spews bumper sticker slogans he heard on Family Guy?

[Anonymous No.13237343]

TA is so stupid

ive seen "traders" risk everything using TA and they end up selling at bottom or buying at peak most of the time and end up getting burned, blaming "market manipulators" for "abnormal chart behaviour"

past price movements will NEVER indicate future prices, people who read charts are fucking stupid but all the more power to them - somebody needs to buy my bags based off technicals LOL

[Anonymous No.13237344]

>>13237270
Not everyone is euphorically enlightened by their own intelligence, anon.

[Anonymous No.13237353]

>>13236793
As other anons have said, technical analysis has no real reason for it to be accurate other than the fact that many people use it to guide their trading patterns, so it becomes a self fulfilling prophecy. People believe technical analysis works, so they buy and sell according to some very basic rules of technical analysis, which makes technical analysis work. Either way, technical analysis is for virgin day traders who watch MACD charts and red/green dildos 12 hours a day in hopes of turning a few hundred dollars profit. Chad investors do detailed Fundamental Analysis, buy undervalued/undiscovered moonshots then forget about the market for a few days/weeks/months to go fuck women before coming back to check their portfolio, and finding out they are millionaires. Upon discovering their newfound wealth, they reinvest their profits into the next moonshot and go back to pounding pussy. After their seed has been spread far and wide, and they have accumulated enough to retire at the age of 30 they transfer their funds to an offshore bank account. They dodge the capital gains tax, and retire to a small island nation where they live out their golden years pounding island pussy before dying in a private plane crash while trying to do a barrel roll over an erupting volcano at the age of 50.

[Anonymous No.13237358]

>>13237248
>My point is that among million traders a handful will come on top by pure chance,
Nah we would be pretty consistently staying within a specific threshold. If your argument was true there would be pretty much zero traders staying within a profitable range.

> not some pattern recognition skills where patterns may not even exist.
Patterns exist literally everywhere you moron. Your Brain is a neural network 100% dependent on patterns in order for you to function. All creatures on earth and probably the universe function this fucking way.

> A nice book on the role of chance in life (and biz too) is Drunkard's Walk.
You fucking retard.

>>13237270
>Imagine needing to read an entire fucking book to comprehend a fact as obvious as 1+1=2.
Imagine having to read a book to learn that there are smart people and there are dumb people KEK!!

>>13237273
>That self-discovery journey doesn't end with atheism
That entire fucking meme is completely blind to what it was like dealing with evangelical SJW cultism in the 1990s you absolute fucking faggot. It was no different than dealing with modern day social justice.

> Video games caused columbine shooting obviously!
If pewdiepie existed back then he absolutely would have been blamed for every school shooting. We dont need SJWs fucking up every half decent sub culture until infinity.

[Anonymous No.13237365]

>>13236793
Tarot is real analysis

[Anonymous No.13237371]

>>13237358
>That entire fucking meme is completely blind to what it was like dealing with evangelical SJW cultism in the 1990s you absolute fucking faggot. It was no different than dealing with modern day social justice.
I literally grew up in a fundamentalist household during the 90s. You have a lot to learn.

[Anonymous No.13237373]

>>13237334
I don’t know shit about atheism. I think for myself. Why do you keep projecting your shitty bias on me? Oh bcz you’re no smarter than the average biztard.
>>13237344
Wut? Is 1+1=2 too abstract for you?

[Anonymous No.13237382]

>>13237371
Imagine having dumbass fundamentalists as your parents

[Anonymous No.13237390]

>>13237353
>Either way, technical analysis is for virgin day traders who watch MACD charts and red/green dildos 12 hours a day in hopes of turning a few hundred dollars profit. Chad investors do detailed Fundamental Analysis, buy undervalued/undiscovered moonshots then forget about the market for a few days/weeks/months to go fuck women before coming back to check their portfolio, and finding out they are millionaires.

Chad had to use technical analysis in order to pull that off. KEK
Fucking BTFO

[Anonymous No.13237392]

>>13236923
Based intelligent anon. Upvoted, fren.

>>13236793
Could I build a bot to trade purely on TA? And has this been done and studied? I'm curious how they do this over time

[Anonymous [O1G] No.13237401]

>>13236793
it's correct: that penis can shoot out to the moon or dribble impotently

[Anonymous No.13237404]

>>13237371
>I literally grew up in a fundamentalist household during the 90s. You have a lot to learn.
You ended up gay and forced out of the house hold because they didn't accept you anon. Calling it, because muh lord is our savior am I right?

[Anonymous No.13237418]

>>13237382
If your parents are fundamentalists they force all kinds of bullshit on you. They wont let you play video games or listen to music. Then the moment you go to college you go full fucking Marxist fag rock star alcoholic drug abuser because you never knew the freedom of what the world is really like.

20 years later we get the fucking current bullshit we are dealing with now.

[Anonymous No.13237435]

>>13237358
>Patterns exist literally everywhere you moron. Your Brain is a neural network 100% dependent on patterns in order for you to function. All creatures on earth and probably the universe function this fucking way.
I thought you were just misguided, not a fucking retard lol. Here's a nice Wikipedia article to get you started on why human brain sees patterns everywhere, even where there are none. https://en.m.wikipedia.org/wiki/Apophenia

[Anonymous No.13237443]

>>13237418
I wouldn’t know bcz I wasn’t spawned by idiots thank god. And frankly don’t want to know. Too many sad shit in this world for me to hold in my head.

[Anonymous No.13237458]

>>13237435
LMAO YOU’RE UNIRONICALLY AN ARMCHAIR PHILOSOPHER

[Anonymous No.13237462]

>>13237404
Uhh, no, not quite. You keep living in your own little fantasy world though.

>>13237418
That's not true at all and mostly just a dumb stereotype. Most kids I know who grew up in similar households to me ended up fine. it's the kids who were raised by godless hippies who did that shit and are now zealots for the New Religion of social justice.

[Anonymous No.13237466]

>>13237435
>I thought you were just misguided, not a fucking retard lol. Here's a nice Wikipedia article to get you started on why human brain sees patterns everywhere, even where there are none.

Yep, the green text explained exactly what I said. Your Wikipedia article doesn't refute my point. Pattern recognition is how we view the entire world and why some people are successful and some are not. Superior pattern recognition is superiority.

[Anonymous No.13237545]

>>13237353

Gonzoinvesting at its best.

[Anonymous No.13237554]

>>13237462
>Uhh, no, not quite. You keep living in your own little fantasy world though.
Your the one who believes in the bible. Which makes you inversely an Elliot waves fag.

> That's not true at all and mostly just a dumb stereotype.
Hastag not all muslims am I right? HAHA

> it's the kids who were raised by godless hippies who did that shit and are now zealots for the New Religion of social justice.
Well what happened was your religious fuckers got too uppity and made everything that went against god super fucking cool so the entire culture shifted over to anything but your shit religion. People went deep into MTV culture and basically progressiveness simply went against your stupid fucking shitty religion. The memes the music and everything else pushed so hard back against your uppity fucking religion that we had a decade of peace where religion declined massively and people shut the fuck up muh lord and savior.

Which paved the way to the current paradigm where we are having dumb fucks like you acting like god is the only way to save us from the social justice bullshit. In reality the social justice bullshit of today has nothing to do with secular values. It has everything to do with globalism vs nationalism. Corporations are trying to sell this idea about diversity so they can get cheap labor after birth rates declined.

So ultimately none of this is ever going to go back to your fucking religion anyway. Once modern libs realize immigrants == shitty religions we will push back on them as well.

Your welcome for the history lesson bub.

[Anonymous No.13237606]

>>13236793
>>13236808
>>13236849
>>13236943
>>13237152
Hahahhahahhahahah there are so many anons blind to reality. you literally convince yourselves that your own ppl are some sort of conspiracy to satisfy your bias cope

Imagine believing climate change isn’t real and all scientist are paid knowing that the biggest autist of all, who only has his legacy to live for, on his deathbed, says climate change is real. Hawking was one of us and you fucktards are too dumb to see it

https://www.google.com/amp/s/www.forbes.com/sites/ericmack/2018/10/16/stephen-hawking-believed-time-travel-was-more-likely-than-the-existence-of-god/amp/

[Anonymous No.13237618]

>>13237606
>but we’re talking about TA.
Your all the fucking same

[Anonymous No.13237628]

>>13237606
Why did you (You) me? We’re in agreement...

[Anonymous No.13237687]

>>13237618
>Your all the fucking same
Science is pattern recognition. So speaking out that pattern recognition is a scam is saying science is a scam.

[Anonymous No.13237705]

>>13236808
not me.

[Anonymous No.13237723]

>>13237687
Science is trial and error in the observable universe. There’ll always be retards grasping at the unobservable because it can’t contradict their personal narratives. They don’t see that it doesn’t validate their narratives either.

[Anonymous No.13237765]

>>13237723
>Science is trial and error in the observable universe

OMFG KEK
That is pattern recognition Anon. I hate to break it to you. But the scientific method is nothing more than a means to make sure your pattern recognition is as clean as possible.

So now that you realize you had it all wrong up until now I COMMAND YOU TO DOUBLE DOWN AND CONTINUE TO DISAGREE WITH ME LIKE A LITTLE FUCKING BITCH. DO MY BIDDING HEATHEN.

[Anonymous No.13237785]

>>13237723
Whoops went ham on the wrong guy sorry anon!

[Anonymous No.13237795]

>>13237723
Basically, in this context you are describing Elliot fags. If OP targeted Elliot fags then I wouldn't even be mad.

[Anonymous No.13237833]

>>13237795
Is elliot fag some ta shit? If so I’m just gonna ignore. There are better things than ta, such as common sense

[Anonymous No.13237891]

>>13237833
>Is elliot fag some ta shit?
Its like a religion when you watch people who rely on it too much. And if you get it wrong then they yell about how what you did isn't real Elliot waves. The guy who invented the shit died poor. And there has been no indication that people who use it are more successful than those who do not. The most successful traders just keep it simple and look for patterns with a handful of simple indicators.

[Anonymous No.13237920]

>>13237891
Lol that’s funny and doesn’t surprise me. Yeah simple indicators in an obvious up or downtrend is the way to go. No more no less.

[Anonymous No.13237959]

>>13237606
They first called it "global warming", but they switch to "climate change" when their models were consistently wrong. Obviously, Earth's climate has been changing constantly. Scientists don't know jack shit of what's really going on so they changed their stance.

[Anonymous No.13237995]

>>13237959
>when their models were consistently wrong
The models were never wrong. The problem is dumb fucks who cant do pattern recognition would go outside and complain about how cold it is in April then use it as a way to tell everyone they need to find Jesus.

Welcome to another episode of "its exactly as retarded as it sounds!"

[Anonymous No.13238015]

>>13236793
>>13236808
I called this breakout a month before it happened because I noticed that volume was rising and the price wasn't falling. We set a higher low and it was likely we were going to set a higher high. And repeat the cycle over and over again.
If you examine the charts, there are never three monthly green candles in a row in a bear market.
April has a 5% chance of turning red, IMO. If it does, I'm taking my profits while I still can. No big deal.
I think there's a 95% chance we get the golden cross and fight $5,800, just like $4,200. And you can forget about buying under 7k after that.

[Anonymous No.13238072]

>>13238015
>And you can forget about buying under 7k after that.
Its still a bear market anon. We hit 6k resistance its very likely to get rejected pretty hard.

[Anonymous No.13238106]

>>13238072
>and fight $5,800, just like $4,200
did you miss that part?
yes we can get rejected hard from 5,800 and even fall to lower lows, but the risk to reward ratio doesn't get any better than this.

[Anonymous [O1G] No.13238260]

>>13238072
that's because until the bear market hits whenever btc reaches fair valuation it will break down hard. in the bull market it will bounce up hard from it. but that's not here yet.

[Anonymous No.13238690]

>>13238106
I am not buying into the notion this is going up from here on out. I think the market has at least one extremely bloody leg down.

[Anonymous [O1G] No.13238781]

>>13238690
we will see, i think this i not the local top yet, there will be one more spike people will panic and fomo in then it's gonna go crumbling down. it will be a fucking blood bath. but people calling the top now gonna get rekt.

[Anonymous No.13238857]

>>13238690
that's entirely possible, but if we do turn to the downside, I can use TA to know when to take my profits. Same way TA told me when to accumulate.

[Anonymous No.13238908]

>>13238781
>we will see, i think this i not the local top yet, there will be one more spike people will panic and fomo in then it's gonna go crumbling down. it will be a fucking blood bath. but people calling the top now gonna get rekt.

agreed
and

>>13238857
> that's entirely possible, but if we do turn to the downside, I can use TA to know when to take my profits. Same way TA told me when to accumulate.

agreed

Only thing nagging me right now is that the bottom this time around was really different from the bottom of previous bear markets. No volume and only tested once. Weird

[Anonymous No.13238988]

>>13238908
Try considering maybe it’s not the bottom

[Anonymous No.13239032]

>>13238988
>Try considering maybe it’s not the bottom

I dont think it is. But then again its looking like either we are in for a much longer bear market or it is the bottom and we get a dump down to the 3100 area at worst.

[Anonymous No.13239046]

>>13238908
Okay, here's the redpill, the world doesn't revolve around bitcoin. I posted the total CMC chart, rather than bitcoin's for a reason. Volume is popping off. ETH has had more trading volume since double digits than it ever has.

[Anonymous No.13239080]

>>13237392
this image always hurts my soul because of the family photo on the wall behind them

[Anonymous No.13239100]

>>13239046
Yes but they also move 5x-10x the speed of Bitcoin in either direction. So if BTC dumps and is still in a down trend then when it dumps it takes alts down with it by exponential values.

But yeah some alts a definitely not in the bear market right now.

[Anonymous No.13239110]

>>13237995
>The models were never wrong.

You just regurgitate shit from the media without even bother to do your own research.

https://phys.org/news/2018-11-climate-scientists-wrong.html

[Anonymous No.13239124]

>>13239110
>You just regurgitate shit from the media without even bother to do your own research.

The data is data. Saying data is wrong is like saying there is some kind of conspiracy about the flat earth and everyone is in on it.

[Anonymous No.13239141]

>>13236793
Probably because it works

[Anonymous No.13239168]

>>13239124
He said that you're regurgitating media, not data.

I have no real stake in this, but data can obviously be manipulated by media sources to seem like something else by misrepresenting the findings, excluding (cherry picking) certain portions, etc. The base data for certain events may be legitimate, but you also have to factor in the legitimacy of the source that collected the information and HOW they did so.

[Anonymous No.13239203]

>>13239168
>He said that you're regurgitating media, not data.
No I said that the models were correct because they just showed raw data. Basically we have perfectly observable data to indicate we are experiencing warming planet.

> but data can obviously be manipulated by media sources to seem like something else by misrepresenting the findings
I would agree with you if I said something to the effect that we can solve this problem. Or that it makes sense to do bullshit to reduce carbon emissions which is fucking worthless. Shits fucked and that's about it.

All I said is the models are correct. Fuck passing some agenda to try and fix it.

[Anonymous No.13239204]

>>13239100
I think bitcoin is gonna be in a long term battle for $5,800, just like $4,200, while alts climbs back up in ratio, like the old days. Remember when ether used to be 0.12 BTC?

[Anonymous No.13239207]

>>13239032
Longer bear market. Just look around you. There are no smart money here, only idiots like us and fucking endless pajeets/bots

[Anonymous No.13239272]

>>13239207
The board has more activity now that we saw this recent pump. Google searching trends are up more than double. This current pump has some momentum to it. But yeah its still not quite what it was from 2017...

[Anonymous No.13239276]

>>13239203
All I saw was this in reference to models
>>13237995

As for the argument both of you are posting links to random news articles with no actual substance and blatant information cherry picking. Wouldn't it be more productive to link the actual data instead?

I've been mildly interested in this topic, but anytime I find people arguing over it they just call each other retarded and link to news websites. Does anyone have a link to a study with the actual raw data and not some dumbfuck journalist trying to stay relevant?

[Anonymous No.13239314]

>>13239276
>As for the argument both of you are posting links to random news articles

Shut the fuck up I posted zero links. Everything I explained is easy as fuck to digest on its own merits if you aren't a pajeet. If its too hard for you to pay attention for the last 30 fucking years maybe nobody can help you anyway.

[Anonymous No.13239327]

>>13236793
TA tells you which way the wind is blowing, not how to build a boat. The inability to distinguish between these is what leads to literal brainlet posts like this one.

[Anonymous No.13239368]

>>13239207
but what if the pajeets and bots are the smart money?

[Anonymous No.13239396]

>>13239368
Then criptoe won’t end well

[Anonymous No.13239398]

>>13239368
KEK

Well its 100% impossible to write an effective bot algorithm without TA.

[Anonymous No.13239535]

>>13236793
>Not diversifying your trading strategy with TA, tarot cards and chicken entrails.

Stay poor