What you don't know about Technical Analysis

[milewilda]

I can understand what you are saying, but I will never be a fan of technical analysis. With graphs and lines you can prove anything. But you will have people who are pro TA and people who are against.
I haven't met anyone, who can make accurate analysis and predictions based on technical analysis.

I understand that technical analysis can be life-saying so to speak but I think this is not absolute. Technical analysis can only help up to a point and it would depend on who's doing the analysis as different people might read trends/charts differently.

Since this is a technical strategy which is probabilistic I personally rather use my knowledge in conjunction with the amount I'm prepared to lose, I never rely on analysis alone - I think this is a danger many traders fall into, while numbers can't like, numbers can be misinterpreted and its even worse when market volatility plays such a huge role.

When it comes to precision and accuracy then it wont really be fitting out here on crypto even TA's on forex and stocks doesnt really give out precise results but somewhat these kind analysis
can really help out on basing up on what would you gonna do on next trading position because if you do just making entries or exits without basis then we are just simply doing gambling.
Of course it wont really be reliable from time to time thats why it isnt really bad to look for another resource or analysis that might fit out into yours and this is how a versatile type of trader in the works.
Dont stick out on one, just continue to look up everything.

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[maxreish]

With all your explanations, how was your trading so far, OP? I admit that I someyimes misread my technical analysis, if you identify that hidden behind the technical analysis readings, I pressumed you traded well, don't you?
 
 

The effect of the dynamic traders in the market doesn't mean you can't make consistent income with technical methodology; all you need is to trade with an edge/strategy that works and follow a trading plan.

 It is easier said than done. And as a trader, I know for sure that there is a risk and that I may not get some consistent income here. Market is hard to read, whales are there to attack so even the strongest technical analysis will be failed.

[dragon695]

With all your explanations, how was your trading so far, OP? I admit that I someyimes misread my technical analysis, if you identify that hidden behind the technical analysis readings, I pressumed you traded well, don't you?
 
 

The effect of the dynamic traders in the market doesn't mean you can't make consistent income with technical methodology; all you need is to trade with an edge/strategy that works and follow a trading plan.

 It is easier said than done. And as a trader, I know for sure that there is a risk and that I may not get some consistent income here. Market is hard to read, whales are there to attack so even the strongest technical analysis will be failed.

Disagree with some points. When you trade you have to take those factors into account. You probably know that the market is hard to read and whales are too! However, the technical analysis skills help a lot in analyzing the market and reduce the risk of losing your capital. When you trade, you probably know there will be a risk of being failed. Technical analysis helps you in increasing the chance of succeeding.

[Utoy101]

Understanding the dynamics of price movement will help you trade your plan without expectations or putting emphasis on things that doesn't matter.
I hope you see the market differently now.

In as much as every technical Analyst will try telling you that TA and proper studying of the chart is the key factor to profitable trading, i will say with my experience in digital assets markets, it is far more than that and the force behind the price movement is more than what can be analyse by mere looking at the charts. The force of demand and supply which is the major force behind price movement is greatly influence by other factors such as fud and announcements

[Kelvinid]

Why most traders do Technical Analysis is that because they know that it helps them in the future but I don't the reality of it and we know it will change all of a sudden. We can't expect TA's will give us an assurance but ain't make to think that it is no use at all, because we can still make this as a tool to have a good prediction rather than to have nothing rely on.
Trading isn't all about having TA's but it also matters how you respond to the market change without TA. Acquiring tools needed for a trade is really helping individuals but has to say that we can't just rely on them all the time.

[Harlot]

No matter how good you are at using technical analysis you will still don't have any kind of guarantee that you are making the right call everytime, technical analysis is not always about analyzing the price charts but also having entry and exit points where you are ready to bail out a trade as soon as it fails. Analyzing the chart is really only one part of the whole problem here because if you don't have any entry and exit plans you will also have a chance of missing a lot of opportunities as well as incurring losses.

[Salauddin1994]

Most of the time we do technical analysis without understanding and when we analyze something we make a decision without knowing the facts behind it or without understanding it very well. Many times we know that despite the fact that Technical Analysis plays a very important role in trading, we trade with passion, maybe there is a lack of skills.

[Zackgeno96]

Most of the time we do technical analysis without understanding and when we analyze something we make a decision without knowing the facts behind it or without understanding it very well. Many times we know that despite the fact that Technical Analysis plays a very important role in trading, we trade with passion, maybe there is a lack of skills.

There is always trend hidden in another trend and many a times we mistake it for something else or we are unable to find that hidden trend which makes trading unpredictable and that is what I mostly miss in technical analysis, but mostly that microtrend doesn't have much impact on the outcome and when it does have its impact then I loose money and I am working on it day by day to improve my abilities and also my profits that I make from trading cryptocurrencies.