The Sceptical Chymist
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February 29, 2020, 01:10:53 PM |
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"Not candle based?" What does that mean?
That's what I was wondering as well, but I'm not a believer in TA--not for stocks, and not for crypto. Unfortunately crypto doesn't lend itself to fundamental analysis, so the only way to analyze anything is by studying charts and trying to predict the future based on that. I wouldn't argue that it never works, but I've seen some bizarre analysis from TA guys. And no, I'm not sick of crypto charts, because I don't read crypto websites in general and when I visit the Speculation section I pretty much know they're to be expected. If chart analysis makes some people money, more power to them and they must be doing something right. It's not for me, however.
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desertfox470
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February 29, 2020, 02:31:30 PM |
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I think the OP wants to say that the bitcoin or other cryptocurrency is not a candle based is that due to the volatility of the market we are not able to use the candlestick, Actually it's just my interpretation but in my opinion candle stick and charts are very helpful in order to predict or get a sign or rather a signal to change a trend or whichever phase the markets are.
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prussg (OP)
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February 29, 2020, 02:42:30 PM |
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All I’m saying is I know technical analysis doesn’t apply to crypto because it’s a highly manipulated asset yet, every time you read an article, it refers to technical analysis which is utter nonsense. Moving averages exist but whether you’re trading long or short they’re very insignificant.
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Findingnemo
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February 29, 2020, 05:08:28 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Technical analysis don't give you 100% assurance on price movement because crypto prices are highly volatile and often goes with manipulation by whales so it will not follow the price charts always but when the market is in sideway for too long then your TA can help you to make more profits. Crypto price prediction never works. Bull market or bear market strategy do not work. It only helps to minimize your losses. I personally do not consider them 100 percent viable way to analyse the market. You need to consider other aspects such as news. I am talking about side way means the price sticks to particular region for too long but still have the daily price swings of 3 to 4% which makes the TA to be more effective than bear or bull trend.
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FanEagle
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February 29, 2020, 06:40:54 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Look, I am one of the people who think TA is a bullshit as well and I do not agree with them most of the time but telling that they are garbage is also not a thing neither as well. The thing is, there are THOUSANDS of people who are trading without any data at all and they are simply just trusting their instincts and so forth and I still think that emotions should not possess a place in trading. So, the people who do chart reading are basically just simply doing one more step than all other people, it still doesn't guarantee you a profit but when you compare just emotions versus charts, at least charts are better option because you know what you are looking for in charts instead of just making stuff up. Like I said none guarantees profit but at least it exists.
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Lanatsa
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February 29, 2020, 09:19:39 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Good thing that you had realized and this had been pushed up by most traders out there that charting does really work.This isnt in likes of stocks or forex where charting do somewhat much better odds on profitability but here on crypto then it would be an another story yet we know the price volatility is too high which cant really be compared on stocks when using up technical analysis and its quite amazing that youve been charting for 10 years and you can able to tell the difference.
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Quidat
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February 29, 2020, 09:29:02 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Good thing that you had realized and this had been pushed up by most traders out there that charting does really work.This isnt in likes of stocks or forex where charting do somewhat much better odds on profitability but here on crypto then it would be an another story yet we know the price volatility is too high which cant really be compared on stocks when using up technical analysis and its quite amazing that youve been charting for 10 years and you can able to tell the difference. This is true but people are still using this stuff even here on crypto space since they do know that trading on different markets does really require these kind of analysis and it is way more better rather than doing blind or intuition trading.They arent garbage actually if you do know on how to read it up, the only difference here is the accuracy on such charting where it cant really be similar if you do make use it on traditional markets like forex and as you said the intensity of movement of prices is really different which highly affects the efficiency of signals being used.
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Oceat
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February 29, 2020, 10:39:18 PM |
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All I’m saying is I know technical analysis doesn’t apply to crypto because it’s a highly manipulated asset yet, every time you read an article, it refers to technical analysis which is utter nonsense. Moving averages exist but whether you’re trading long or short they’re very insignificant.
Reading and applying are two different things, if you think this is insignificant then the other will use it because it gives them the advantages. Crypto charts and forex chart may be different but both are using the same chart to analyze the prices so it's still significant in trading.
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3996
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rexxarofmoknathal
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March 02, 2020, 11:22:03 AM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
The problem isn't in the charts themselves, the problem comes from the people reading and interpreting the charts and in this case it's the article writer. This in fact is a challenge because unlike you many people go by what the 'interpreter' tells them and obviously that's not going to do any good. Many articles cite charts because it makes their work more credible but one must be mindful about how these charts are being read. It seems that what you're picking on is the sole fact that they include it rather than misinterpreting the charts - 2 different things!
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Ethereums
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March 02, 2020, 11:32:31 AM |
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tehee...sounds like my friend whos using a robot to analyze the crypto chart. Dude, i told him today that he isnt the only one whos facing this issue right now. I called this issue not for his trade style but for robot actions. He miserably faces hard on this month ( last february ), from TA it seems chart goin up at start of feb, but lately on mid something happen which it called double top as someone called it. He think it will go down for sure, but crypto like always doin something that TA never predict which goes north after swing low then after that goes high for a moment. Since my friend was a FOMOers he choose to stop his robot and buy it. And like we know, the price going down, this is the moment as i remember as your thread said... CRYPTO CHARTS ARE GARBAGE...Dude never expect crypto just like forex instrument, is more volatile and more rash than it. Believe me, keep your TA steady and u will understand it. I mean after i wonder how i can get profit daily is like pipe dream, now i more like how do i get profit weekly or monthly nowadays.
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Baoo
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March 02, 2020, 06:47:24 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
The problem isn't in the charts themselves, the problem comes from the people reading and interpreting the charts and in this case it's the article writer. This in fact is a challenge because unlike you many people go by what the 'interpreter' tells them and obviously that's not going to do any good. Many articles cite charts because it makes their work more credible but one must be mindful about how these charts are being read. It seems that what you're picking on is the sole fact that they include it rather than misinterpreting the charts - 2 different things! Totally agree with you, and to be honest you can't analyze the charts well when you don't have a good knowledge in trading field, that's fact but many newbies are keep making the same mistakes and they complain always especially when their plans fail. it is better to stop giving the excuses, you just need to improve yourself and learn from your failed experiences, that's the most important thing I would guess.
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Utoy101
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March 02, 2020, 08:13:51 PM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
I really agree with you on this, a lot of the so called expert have lost their reputations due to failed Technical Analysis given over many times. To my understanding, i think cryptocurrency prices are more control by the potentials of the project behind it than the assumptions of it's traders. Sudden annoucement and project development can greatly influence token/coin price thereby rendering the chart useless. I think this is what causes major failure of technical analyses
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Sanitough
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March 02, 2020, 10:38:30 PM |
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They are not garbage but if you will solely based on them in making a judgement, that would not make you successful. You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.
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Kelvinid
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March 02, 2020, 11:33:37 PM |
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You don't need to push yourself into crypto charts and tried to understand it if you don't even want it. It sounds like you are abusing yourself and brings you into getting tired and bored because it seems too hopeless for you. Having this tool is not the only way to understand the market and will help you out from losing. There is a lot of things we need to acquire and to learn in order for us to win the battle and not being infected with these negative mind.
Many traders have surpassed these struggles because they want a change and they want to learn something new. And that should have to work out and stop relying on charts if not suited for you.
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CaVO32
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March 02, 2020, 11:52:00 PM |
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You don't need to push yourself into crypto charts and tried to understand it if you don't even want it. It sounds like you are abusing yourself and brings you into getting tired and bored because it seems too hopeless for you. Having this tool is not the only way to understand the market and will help you out from losing. There is a lot of things we need to acquire and to learn in order for us to win the battle and not being infected with these negative mind.
Many traders have surpassed these struggles because they want a change and they want to learn something new. And that should have to work out and stop relying on charts if not suited for you.
Absolutely right! Crypto charts are just mere guide but not really a reliable source when you are in trading. crypto is a very volatile investment that they sometimes you can't apply any technical analysis that you know of. each alt or token have different trading behaviors as they depend on the project itself, their developments, actual services/product, marketing campaigns, and many others. i will not consider crypto charts as total garbage, but you can use it in some specific cases. if you are trading a particular coin, you need to be updated with their development's progress, else, you will be blindly trading them and losing money is very possible.
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carlisle1
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March 03, 2020, 02:23:28 AM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
i think on this matter i partially agree because most of the articles now(if not all of them) are shits and just released to gain popularity but to deceive people. they talk as if it was a truth but its not because there are no exact prediction happens here and they are just lucky to sometimes Got it right but there is no acuracy. They are not garbage but if you will solely based on them in making a judgement, that would not make you successful. You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.
yeah they are not but almost all are,but right Graph can be used as basis but not one to believe truly .
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maydna
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March 03, 2020, 06:17:10 AM |
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They are not garbage but if you will solely based on them in making a judgement, that would not make you successful. You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.
Without using the chart, and only depend on the hype, FOMO, and the FUD, he cannot analyze too because he needs to analyze the movements from the chart. So it will have a connection between chart, hype, FOMO, and the FUD so you can analyze better than other traders, and that means, you will have a chance to make a profit. Crypto charts are not garbage as long as you can use it with the right. You will have a sign or guide to predict where the price will move in the next hours. But you need to have the knowledge to analyze the chart so you will get the other clue besides using the hype, FOMO, and the FUD, and perhaps, you will have a good prediction about the price and the next movements of the coin.
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maxreish
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March 03, 2020, 07:45:57 AM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Then it is what? I was kinda confused at your statement. Reading Charts really is a useful tool for both forex and crypto trading. Can you cite an explanation why crypto isn't candle based? While not all articles showing charts are really true, you can still stick to your own technical analysis. There is so called "confirmation and comparison" to your own charts vs their charts. Remember that their chart is their own readings and own basis. Yours is different. But if you are confident enough to your own TA, no need to see other's charts anyway.
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jcpone
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March 03, 2020, 09:53:57 AM |
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Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Well, I'm not quite familiar with crypto chart but as a traders we need to learn that things, though it may not be easy to understand it but really, really need to get that understanding of course, especially in the indicators sometimes it gives helps for us to be aware for what we are going to do in the actual trading happening in the graph.
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Sanitough
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March 03, 2020, 12:28:25 PM |
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They are not garbage but if you will solely based on them in making a judgement, that would not make you successful. You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.
Without using the chart, and only depend on the hype, FOMO, and the FUD, he cannot analyze too because he needs to analyze the movements from the chart. So it will have a connection between chart, hype, FOMO, and the FUD so you can analyze better than other traders, and that means, you will have a chance to make a profit. Crypto charts are not garbage as long as you can use it with the right. You will have a sign or guide to predict where the price will move in the next hours. But you need to have the knowledge to analyze the chart so you will get the other clue besides using the hype, FOMO, and the FUD, and perhaps, you will have a good prediction about the price and the next movements of the coin. That is what I am saying but we can't just fully rely on the graph and say, "HEY! I know what will happen next, I can see the trend".. with that as your way of predicting the price, that would not give you success, news is the best information and think what the majority would think, then analyze your decision.
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