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Alns
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June 05, 2018, 02:46:25 PM |
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I believe that technical analysis can be useful in those days but the market is so volatile that we should rather rely on luck
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pandanaran
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June 05, 2018, 03:25:43 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
I am a beginner in trading, but based on what I experienced up to now that news is more instrumental in helping me in buying coin, I used to do TA but all is almost wrong, I think it's because I'm new and cryptocurrency is fluctuating so the price is difficult in the guess. |
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capoeira
Legendary
 Offline
Activity: 2388
Merit: 1003
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June 05, 2018, 03:29:39 PM |
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first people need to understand what TA is.
You look at the chart and say: "hey look, there is a trend going on".
congrats, you just made a technical analysis.
you obviously can't expect that throwing any indicator on the chart will give you a prediction of anything. If this was true nobody would lose....and nobody would win.
TA is like meteorology;
you observe the clouds, the wind, the humidity and than you draw a probable condition for tomorrow. Yea, sometimes the say it will rain and we'll have a sunny day. the are too much variables.
It's all about "betting" on probabilities. Actualy not very diferent from poker (and don't let them convince you that poker is all about luck)
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trader34
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June 05, 2018, 03:47:13 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
First of all, Technical Analysis cannot predict the future, but can only give a probability of how prices can move in the future (based on what happened in the past). But in my opinion, it doesn't work really well with cryptocurrencies, maybe with the exception of BTC. In the altcoins market its quite useless. |
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robotrobert
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June 06, 2018, 07:58:07 AM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
Its not only with Crypto. TA has the same results in Stocks, Futures, Metal markets, Yields, Bonds, etc. You won't find a TA that works 100% of the time. Basically at best you can find some indicator that is correct 20-25% of the time, use it and basically use a good risk to reward and get out before it turns again you. If it was this easy my Grandmother would be trading instead of doing manual labour. Technical analysis is not so important and you can simply run in the market by applying the market rules and principles. Technical analysis are independent on your work and role in the market so you do not have to go in complications but simply monitor the value before taking some action or decision. Give your focus to your trading and the market so that you will get success. |
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prtty2gal2
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June 06, 2018, 11:57:21 AM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
I’m not the type of person that relies on technical analysis, cause I don’t see them helpful in anyway more than what the news media has to offer. Technical analysis is being done by people who claims to be wiser than others and thinks that they can predict the future of every market. Many times I have tried it, it failed me. So if you ask me, TA is a total BS! Unless maybe I was relaying on the wrong ones. But I wouldn’t be going for it anymore. |
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rickadone
Legendary
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Activity: 1176
Merit: 1024
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June 09, 2018, 04:22:20 PM |
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People used to follow TA before. But now a days all fake analysts and well bribe paid analysts made the TA as a joke. I personally stopped looking TA in any market include stock, forex, crypto markets. The reason is Analysts are bought by companies to give their stocks or coins a extra hype by doing a intentionally created artificial analysis which is totally on the other side of the market.
so , TA is less and less trustworthy.
Agreed in a way, but we cannot still call it total bull shit but one way or the other find a way we can just at least make do with it to still make some decisions. You cannot be right all the time, and since we are not whales, we are just at a huge detriment relying on TA 100% of the time. It is always annoyingly funny though, but there is nothing we can do about it. Without TA, you will still not be able to make any decision anyway as you cannot basically rely on fundamental analysis to trade the market only as well. |
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boakyei
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June 09, 2018, 04:29:03 PM |
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You are not doing it right that is why it may seems to you that technical analysis is not good. It supplement fundamental analysis. Depend on technical analysis along will not give you the much results needed. What the news say is a reflection of what you see on your chart.
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IldarW
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June 09, 2018, 05:38:45 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
I use TA in my trading, but it is not the same as on traditional markets. I spent one year to find useful patterns for some coins. |
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2fresh
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June 09, 2018, 05:57:20 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
I use TA in my trading, but it is not the same as on traditional markets. I spent one year to find useful patterns for some coins. I would argue that you will never be able to find a real pattern with 90% of the coins (maybe even more) Most TA's floating around the forum can be interpreted in many ways, which makes using them as an indicator that much more difficult. |
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dmamigo
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June 09, 2018, 06:25:00 PM |
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I think so myself,you spend your time reading charts,peg your order,the next moment some news pops out of no where and your deal is toast.I think there is too much uncertainty in the market to make TA actually work.A good trader should keep his eyes fixed more on Fundamentals  For the moment Technical analysis might not be effective enough, but surely its a important approach to make some good calls in short term trading or day to day trade in the market. For investors of long term, Fundamental analysis is good, also if you want to judge a ICO, or any altcoin, this method can be helpful to make decisions. None of the approach is bad or wrong or useless, its just for the moment, people is finding it hard to make short trading calls using TA. |
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Bencooper
Jr. Member
Offline
Activity: 95
Merit: 2
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June 09, 2018, 06:52:35 PM |
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I think so myself,you spend your time reading charts,peg your order,the next moment some news pops out of no where and your deal is toast.I think there is too much uncertainty in the market to make TA actually work.A good trader should keep his eyes fixed more on Fundamentals For the moment Technical analysis might not be effective enough, but surely its a important approach to make some good calls in short term trading or day to day trade in the market. For investors of long term, Fundamental analysis is good, also if you want to judge a ICO, or any altcoin, this method can be helpful to make decisions. None of the approach is bad or wrong or useless, its just for the moment, people is finding it hard to make short trading calls using TA. Agree 👍 |
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whirlcoin
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June 09, 2018, 07:22:15 PM |
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Technical analysis is just like a indicator to the markwt hiw it is going to be but there is no guarantee thatbit will ever going to happen, because crypto trading is most likely an gambling so we also needs luck to make money in crypto trading.
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blindminer
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June 09, 2018, 07:48:29 PM |
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In my experience TA does not work if you want to predict a longer trend but can be useful to make entry or exit decisions. If it would be different then why did no TA expert see a correction coming last december?
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just_Alice
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June 09, 2018, 08:26:18 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
No, you're right, TA actually can't help you out when it comes to serious investments and hold/sell questions. I think it might be helpful in daily trading though. |
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rockie87
Jr. Member
Offline
Activity: 163
Merit: 1
ICOForums.net - A Cryptocurrency & ICO Forum
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June 09, 2018, 10:14:58 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
You can't agree completely but partially you gave to say that you cannot just rely on technical analysis dor choosing your investment. Technical analysis is good for those who know the technicalities of trading. |
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bitterguy28
Full Member
Offline
Activity: 2002
Merit: 175
★Bitvest.io★ Play Plinko or Invest!
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June 09, 2018, 10:30:02 PM |
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I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
In any field of work or job technical analysis is very important how to do the work better than expectation, in the crypto technical analysis is usable but hard to perfectly crpto's movement how to get earn specially in trading, because the reason is cryptocurrency is very fast movement as volatile currency so nobody can get perfect exactly analyst comes. |
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Mpamaegbu
Legendary
Offline
Activity: 2674
Merit: 1208
Once a man, twice a child!
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June 09, 2018, 10:50:12 PM |
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Nah! It's not true that Techinal Analysis is bullshit. OP, you may justifiably tweak that title a bit to encompass, "Not totally accurate" As someone who looks at charts myself, I have come to believe that because of so much FUD in cryptocurrency the TA is most likely to fail. This industry is driven by FuD or FOMO and this rubbishes TA. In forex trading, it isn't so. TA rules. I believe that technical analysis can be useful in those days but the market is so volatile that we should rather rely on luck
Dude, relying on luck is gambling and not trading. |
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Nellayar
Full Member
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Activity: 868
Merit: 185
Roobet supporter and player!
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June 09, 2018, 11:26:25 PM |
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No. Of course not. It helps the trader to predict the future price and I think it really works. Besides, many trader uses technical analysis to know where they will going to enter and quit to the market. Technical Analysis is useful specially, if you know a lot from it.
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syahril husen
Newbie
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Activity: 15
Merit: 0
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June 09, 2018, 11:31:50 PM |
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Technical analysis indeed does not work perpectly, but this analysis is helpfull to know the situation of the market, from TA like price pattern or candlestick pattern we can decide the market on bullish, bearish, reversal or continously follow the trend. I can not trading without analysis the charting and without some indikator. Can be by use combination of TA and news of crypto will more help to predict the price where will to go.
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