Is Technical Analysis Bullshit or Not?

[tungaqhd]

Technical analysis works to most traders, if its ineffective then they should have stop doing it long time ago. Only we can call it useless if it don't make sense or baseless, I find it useful because it is applied in stock trading and now on crypto trading too. Though its not accurate but it gives you an idea of market scenario.

Agree, technical analysis has been proved so clear by many traders, it's not bullshit, if someone considers technical analysis to be ineffective and nonsense, they should rethink the method and the way they approach technical analysis, whether it went right or they were overly imagining technical analysis. Because some people think that technical analysis will give us a perfect decision but in fact not, it only gives us a certain picture of the market, and this image is just a script out of millions of scenarios, it's just a reference

[masulum]

<snip>

You are really true, TA just like we are predicting football score for every match. Sometime it can be true, sometimes it can be false. But, at least trader can set where he wants to set buy order, or sell order. Maybe he will lose because his prediction doesn't match with market position, this is part of the game of trading business.

[Google+]

This analysis technique that is often done by traders has a bit of a helping nature to determine cryptocurrency price movements by observing charts at the exchange, but you should know that cryptocurrency price movements are not easy to predict because cryptocurrency price movements depend on demand so the technique analysis has contributed little to help traders.

[jakoylantern]

For me, technical analysis not bullshit, maybe it's not totally accurate, but it still gives you a good target point. Also, the main problem is if you can't understand it will right, because you can't say its a bullshit if you know its only a prediction on what range will it go down or up, that will give you a hint if that range is profitable to you or not. 

[DaveWave]

Trading without using technical analysis is just like playing a dice in a casino. Relying on luck minus and against the small house edge.

If there is a good/bad news then that would be a good hint to buy/sell. But you will have a hard time finding the buying/selling range, that is where technical analysis can assist you.

Technical analysis cannot be right at all times depending on how you use it, even good traders lose. But it plays an important role on trading and a good guide on long term investing.

[Fredomago]

Trading without using technical analysis is just like playing a dice in a casino. Relying on luck minus and against the small house edge.

If there is a good/bad news then that would be a good hint to buy/sell. But you will have a hard time finding the buying/selling range, that is where technical analysis can assist you.

Technical analysis cannot be right at all times depending on how you use it, even good traders lose. But it plays an important role on trading and a good guide on long term investing.

It will continue enhancing your skills predicting the next possible target if you use technical analysis. This tools help every traders on how they will anticipate the potential position that the market will be heading, with the help of your past experiences you will be able to read and assume where
to place your investment. Both buying and selling assets can be guided by analyzing the situations. You need to focus reading the charts and review every aspect that you can have to use as basis of your activities inside this trading business.

[TrevorS]

In general, I am surprised by people who create topics with similar questions. The forum has a lot of smart and talented people, both among traders, among miners and holders, and so on.
Why do you think that if technical analysis were stupid, they would not understand this.
Technical analysis is difficult to apply because of the manipulative nature of the market, only because of this it does not always work.

[artemis24]

Asking same question. Just got into trading and not sure if it's cool to just follow the signals or learn the basics first? Help much appreciated!

[EdvinZ]

Technical analysis is definitely a good tool in successful trading. It is important to use it correctly. You also need to understand that relying only on technical analysis, without knowledge of the news background, for example, is unacceptable. You can see various patterns that you think accurately determine the future price of the asset, but the whole news background can be completely against your analysis and you can suffer losses in this case. It is important to use all the tools that are available to traders.

[lumierre]

What can I understand about TA in trading is a probability-based on mathematical analysis, market history, and market sentiment which affect the price. Yeah, nothing is 100%, but I have made profits by learning some TA provided in some "places" and following some which really have the highest quality of winning streak.

Here, the keyword is "probability".  In many cases, TA does not work at all, but it does not mean that it must not be considered. In some situations, technical analysis can be even more useful for Bitcoin than for other assets. Since this market has a very dynamic news flow and high volatility. In addition, a series of the largest highs and lows on the chart underline the mood in the market.

[FlamingFingers]

Asking same question. Just got into trading and not sure if it's cool to just follow the signals or learn the basics first? Help much appreciated!

I will advise you to learn the basics,  it's gonna help you much better in trading,  don't follow lots of fake predicted signal calls that are being given by some Noobs trader,  learn basic and further more in it,  so as to be able to give a solid call on your own

[Danumsigwasan]

As one interested in any form of trading, it’s vital to have enough idea of what’s happening and whether it’s done through Technical or Fundamental, it’s all relatively easier to do. So this is really what our focus has to be on to benefit. I don’t think it’s so simple but the simplest form could be to just track Crypto News, as there won’t be anything extra-ordinary needed for it and this is where we can gain plenty through as well.

[Pelunize12]

i use technical analysis to predict price, it's my tool which i use for fighting in this probability game

must be recognized that technical analysis doesnt ALWAYS work well, but from TA, i can know where i place the stoploss

combining TA and FA is the good idea for better result

[Apes]

try asking pro traders if they use technical analysis in their work.  yes their do, without technical analysis is the same as working with full risk, even though the results are not accurate but they prove that technical analysis is needed when entering the market. if you say it's bullshit, you can enter the market with as much money as you got and we see the results.

[LUCKMCFLY]

No, the technical analysis can not be a lie, we must start that represents a way to study the market, it is not decisive because it is accompanied by many events that the technical analysis does not have.

The indicators, mathematical tools help to make approximations in the market analysis, in my case I use some elements of the technical analysis. When you accompany the technical analysis with a market analysis taking into account possible emotions, assuming bullish traps, and looking for the reason of some important movements, it is what should always be done prior to a Technical Analysis.

When we study the market, we can review the volume, which gives important information, especially if we study it from a macro level to a fractal level, for example: See the Bitcoin chart and analyze it for months, weeks, days and determine what phase the market may be, according to this we can have a vision of what can happen, but not a prediction, although many make prediction, it is free to make, but when a study is done in this way and carried at smaller fractals, at 4 hours, volatility is more palpable, but having the previous analysis of the possible scenarios, it is already the trader's criteria to use the technical analysis to strengthen its plan.

It is necessary to understand that the AT is a great help for the trader, it is a very powerful tool, but many indicators do not have the function of analyzing why a movement occurred, I think that when the Technical Analysis is combined with the analysis of each trader in Your vision of the market, the chances of success increase and minimize your losses.

[dunfida]

i use technical analysis to predict price, it's my tool which i use for fighting in this probability game

must be recognized that technical analysis doesnt ALWAYS work well, but from TA, i can know where i place the stoploss

combining TA and FA is the good idea for better result

Using up any analysis is much more better rather than trading blindly or doesnt have any tools been using while you do trade.
Yes, it might not be precise but at least you do have the image on where the prices do go or heading up.You can really set out
stop losses and take profit areas which is helpful on implementing your capital management.So in short, TA's arent some bullshit stuff.

[Pelunize12]

i use technical analysis to predict price, it's my tool which i use for fighting in this probability game

must be recognized that technical analysis doesnt ALWAYS work well, but from TA, i can know where i place the stoploss

combining TA and FA is the good idea for better result

Using up any analysis is much more better rather than trading blindly or doesnt have any tools been using while you do trade.
Yes, it might not be precise but at least you do have the image on where the prices do go or heading up.You can really set out
stop losses and take profit areas which is helpful on implementing your capital management.So in short, TA's arent some bullshit stuff.

yes sir, TA is good for trader. but the problem is, many people have not understood well about TA, then they blame that TA isnt good thing
that's why we have to learn and learn more TA to get good result. finally, we have good trading setup and get much money

[Arkann]

i use technical analysis to predict price, it's my tool which i use for fighting in this probability game

must be recognized that technical analysis doesnt ALWAYS work well, but from TA, i can know where i place the stoploss

combining TA and FA is the good idea for better result

Using up any analysis is much more better rather than trading blindly or doesnt have any tools been using while you do trade.
Yes, it might not be precise but at least you do have the image on where the prices do go or heading up.You can really set out
stop losses and take profit areas which is helpful on implementing your capital management.So in short, TA's arent some bullshit stuff.

In any case, you need to conduct a technical analysis before you start trading, because there is a huge danger of losing your money.  Many cryptocurrency users who do not yet have sufficient experience of the trader and are not able to carry out accurate analysis, use Signals from reputable sources, because in any case, you need to get real information in order for the trade to be effective.

[Willitivity]

try asking pro traders if they use technical analysis in their work.  yes their do, without technical analysis is the same as working with full risk, even though the results are not accurate but they prove that technical analysis is needed when entering the market. if you say it's bullshit, you can enter the market with as much money as you got and we see the results.

I agree with you on the basis of the results not being accurate all the time, that just goes to prove how unpredictable the market can really be.
To get a better result, technical analysis should be paired with fundamental analysis as well, just to improve the chances.

Technical analysis forms the cure of every trading activity, not just in cryptocurrencies but even in Forex.

[Shasha80]

Never say technical analysis bullshit, if there is someone to say that I don't think he is have studied trading. I explain a little
about the function of this technical analysis can be for all kind of trading, not only for crypto trading. Its function is to predict
price movements, can also know the market conditions, determine the assets to be purchased, etc. I personally get a signal
trading from technical analysis that I did myself, from the part that I followed 70% of it earned profit. So it's very clear to me
technical analysis is not bullshit.