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Author Topic: Are charts useful for long term investors?  (Read 246 times)
TheQuin
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March 21, 2018, 11:11:11 AM
 #21

We've got all these crowd wisdom trading platforms, big data /deep data insight, machine learning, AI, platforms all seemingly happening upon the newfound wisdom of TA... yet not a single one of these can claim to have reliable results with consistent performance. I think even the most astute traders wouldn't dare claim that their charts instil confidence in them.

One aspect of this is that there is a huge industry selling TA tools, indicators blah blah to noob traders along with a huge trading education industry. As you say none of these can actually produce any results to back up their claims. Show me a trader using one of these systems or techniques and proof of a positive track record then I might take them seriously.

Charts tell you a few simple things that's all. Is the market in a trend or a consolidation phase. The location of the points it changed direction last time. These are useful to know but they are not a prediction.

To address Jet Cash's question charts do have a limited use for traders. I think long-term investors should only consider fundamentals and forget all about charts.

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March 21, 2018, 11:12:34 AM
 #22

I am a long-term investor and don’t care about charts, as I buy when I can, averaging the cost. It is more important to do deep research on what you are buying and to decide why you are going to buy it. Once you buy an asset because you strongly believe in its fundamentals and future projection, the ups and downs of the market don’t matter.

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March 21, 2018, 11:13:21 AM
 #23

My guess would be that the charts are useful for micro trading, but perhaps you want to glance at the chart over the course of years for macro trading/investing. Of course there's also cross-overs between the two and at the end of the day it may just do whatever the f it wants.

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March 21, 2018, 11:23:33 AM
 #24

Analyst charts are indeed more suitable for trading or short-term investments, but some people also there are using chart analysts for a consideration for a long term investment. Anyhow the predictions or opinions there will be different, the people are certainly vary in responses to everything.
All the factors that can affect to the price movements., indeed do need to be known, and sometimes it's not as we expected, but however with a price charts., it can be a consideration in taking steps, choosing a coin and determining term hold, a short term or long term it's definitely very useful.
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March 21, 2018, 02:03:44 PM
 #25

One chart that I haven't seen, and that I think might be useful, is a chart of the number of coins that are moving into wallets with no record of spending. I think this could be useful as a guide to the increasing use of Bitcoin as a long term store of wealth.

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March 21, 2018, 02:15:12 PM
 #26

One chart that I haven't seen, and that I think might be useful, is a chart of the number of coins that are moving into wallets with no record of spending. I think this could be useful as a guide to the increasing use of Bitcoin as a long term store of wealth.

That would be difficult as now HD wallets are the norm and many people have adopted the practice of using new addresses every time. Addresses can only be linked together as belonging to the same wallet if outputs are combined in a sent transaction. Any chart of UTXOs in an address that has never spent would also include all these plus change addresses.


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March 21, 2018, 02:28:59 PM
 #27

It can only be useful if you are updated with everyday trends and news. More useful to long term investment because of the historical data.

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March 21, 2018, 03:21:20 PM
 #28

I think the main aspect of long term charts for the early adopters is to focus on bottom development. While peaks only represent speculation and hype, and thus incorrectly portrays a different overall picture, the bottoms indicate a more 'conservative' form of long term growth development. For me personally that has been a solid indicator of growth, and as long as bottoms are being set on top of each other, the market remains strong. If this pattern gets broken through at some point in the future, that will be a clear sign of a much lower form of long term demand, and even result in a bear market phase that might hold on for years potentially. This market grows because of how tiny it still is, but when the big guns entered the game, and the market has matured, a longer term bear market might be something we will go through. Every market goes through such a phase, and Bitcoin will definitely not be an exception. The charts will speak for themselves.

The problem with long term charts for me is always that they have extremely limited historical data to feed from. I mean, barely ten years of trading, and a lot less with significant volume and global trading, it's unreliable as a predictive tool as you say, even if you might draw some learning from them (but then, you learn from any form of analysis!).

I look at the longest possible timeframe on a chart and of course, it shows solid growth as you said, but negate any number of the early years and it's missing some of the most explosive early trends, but then again, doesn't take remove what takeaways you can get.

There is comfort to be drawn from bull runs after bearish periods, like you said, but there's no guarantee it'll repeat... something the charts might deceive you to think otherwise.

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March 21, 2018, 04:42:24 PM
 #29

Analyst charts are indeed more suitable for trading or short-term investments, but some people also there are using chart analysts for a consideration for a long term investment. Anyhow the predictions or opinions there will be different, the people are certainly vary in responses to everything.
All the factors that can affect to the price movements., indeed do need to be known, and sometimes it's not as we expected, but however with a price charts., it can be a consideration in taking steps, choosing a coin and determining term hold, a short term or long term it's definitely very useful.
Charts acts as a guide for everyone else who wants to know what happen with cryptos or a certain crypto in a specific range. It is very helpful because it will show a quick differentiation of the prices that will help and guide in making decisions of whether it is good to buy and invest again, or if it is time to sell now. As a trader, I used it as a quick reference and estimation if I am earning or getting a good profit from my investments.

Of course, we cannot expect a chart to have all the information we need because a chart can only contain specific data and results for comparison, and not all. We cannot fully depend on it but it will still be helpful in making quick analysis.

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March 21, 2018, 06:17:30 PM
 #30

Graphics are very useful for short-term traders as well as long-term investors, because when buying a coin or investing, you must see the progress of the chart and read to find the right time to buy. and most importantly for long-term investor charts it's important to see future progress instead of just relying on news.

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March 21, 2018, 06:25:44 PM
 #31

Graphics are very useful for short-term traders as well as long-term investors, because when buying a coin or investing, you must see the progress of the chart and read to find the right time to buy. and most importantly for long-term investor charts it's important to see future progress instead of just relying on news.
The charts may not show you trends. This is only a visual indicator of price behavior. Analysis and its own forecast of prices traders are doing traditional methods. So my answer is no. Charts do not help in trading. They only visualize the information.

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March 21, 2018, 06:38:12 PM
 #32

I think charts can be missleading at any rate. Tone Vays for instance, once again failed with his prediction. He said that his technical analysis pointed to a big fall if $7500 was lost, and we dipped to $7200, then he was expecting the price to go lower, only to wake up with a monster pump to $8000+ territory, now we've hit almost $10000.

He said he didn't expect the g20 news to be relevant... this shows you can't be guided by TA alone. Any news, even the ones that may not seen relevant to you, can destroy your TA planning.

Charts for me are good to draw resistance lines but fundamentals will always crush any TA. I also look at long term charts to try to guess if we are in bubble mode or in desperation mode (time to buy a ton of BTC), but that can be missleading too. A lot of people saw a bubble at $4000 and missed the FOMO to $20000.
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March 21, 2018, 06:48:02 PM
 #33

Only if the coin has been out for longer than a year, that is the only way charts of 1D, 1W can be reliable. Otherwise the data is too small and you will have inconsistent results. Out of the 3 analysis' though I would argue TA is the least important in long term, the most important however would be the fundamentals. Therefore, TA is useful for long term analysis but understanding the fundamentals is even better.

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March 21, 2018, 07:08:14 PM
 #34

They do play an important role for investors. Investors can use the charts to analyse data and can somewhat predict how the market is going to be affected soon or in the long term. There are some patterns which crypto currencies always follow. The charts help investors to find those patterns and invest  accordingly.


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March 21, 2018, 07:17:49 PM
 #35

I can see that chart analysis is extremely useful for short term traders, but how useful is it for long term investors? By long term, I mean more than two years. I think one has to step back and look at the world economy, and the changes in the banking system, and make decisions based on one's opinion of the future prospects. I'm not sure that short term price movements, or even historic data, are major factors that one should consider.

I will agree that chart analysis can help with the timing of buying, but I don't think this is a major factor in view of the long term potential for Bitcoin.

Honestly in terms of trading cryptos whether long term or short term and future decision to my actions or plans, Im not relying on chart readings. I don't even spend time learning those deep technical charting terms although I have a knowledge of those a bit because for me, why should I? Price fluctuates everyday without even a reason. Whales are everywhere and influential persons are always at stake of saying something whether good or not to bitcoin or any cryptos.

Chart is always a good "reference" for future decision but this must not take as mandatory tools to be learned when dealing on cryptos. There are successful traders today who didn't rely on chart readings but rather playing with the risks with some own set of considerations and factors before taking an action. Also, a good and well detailed chart readings and analyzations will be spoiled once panic started meaning cryptos are really out of control during that phase.

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March 21, 2018, 10:14:51 PM
 #36

Yes charts do give a idea for future movement of cryto or stock prices. It helps to understand the trend movement and by understanding various pattern formation, you can predict the future price movement.

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March 21, 2018, 11:18:02 PM
 #37

One problem with charts is that they can be self fulfilling. If a chart says that a drop will happen, then it probably will as people follow the projection. Of course this is short term, but it is one way that fast reacting guys who can understand the charts can make money. The interesting time comes when two chart theories have opposite views.
Most times, I have this feelings that most chart are manipulated by whale and heavy investors to bend the market to their own interest. That is why sometimes you  see the market going according  to a particular prediction. Nevertheless, there are charts which seems not to be manipulated and can still be trusted. But every traders should be skeptical of the charts that directions their trades.

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March 21, 2018, 11:23:34 PM
 #38

My guess would be that the charts are useful for macro trading, but perhaps you want to glance at the chart over the course of years for micro trading/investing. Of course there's also cross-overs between the two and at the end of the day it may just do whatever the f it wants.
Through charts,investors are able to update their trading. There are a lot of differences from time to time when trading bitcoin. So to minimize sudden issues regarding trading,they will just recap what happened to the chart.

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March 22, 2018, 04:44:07 AM
 #39

Using charts it can tell you the story. They cut through all the rumors, headlines and hype to paint an objective picture of what is really going on with the stock market. Also, using charts you'll see the daily or even in weekly the spot specific buy and sell signals. We cannot just use it in shorterm also it is very important in long term.
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March 22, 2018, 06:22:18 AM
 #40

Yes for the investors charts are very important and through charts they can check the financial position of the different coins and current growth rate and we have the actual position of the coin then the charts plays important role for investors to invest in the crypto currency and if we have used the strategy for the crypto then sure the people will love to buy this for the long term.

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