Are Technical Indicators useless?

[jossiel]

~snip~

There's no such thing about assurance and precision when it comes to technical analysis and same goes when it comes to fundamentals on which it doesnt really assure that it would really be making out some sure effects

within the market and this is why it would really be just that so normal that you would really be that versatile whenever you do see those unpredictable movement here on the market.
Technical indicators arent useless, it is really just that the market is really that unpredictable and also, what would really be your tools on dealing with this market if you arent using TA just because
you do see that its irrelevant?  Just like on what others been saying that on the time that you would really be stepping your foot into the market then you would be finding that relevant
on making use of these tools because stepping into the market without these things would really be making things harder.

Yup, I guess that's the key on this market and you've said it about being versatile.

So as flexible as the others, we need to have various strategies whether they're TAs, fundamentals or etc that will help us with our trades then that should what we should be applying to ourselves.

Honestly, it's hard to survive trading and I've done that and got only few percentage of good trades and that's why I've stopped. I'm just trying to get back again and that's what I am applying to myself.

[tjtonmoy]

Well trend and hype is what makes the crypto great right? I mean for over the past years you can't technically predict if the market will move up or down, it's all about the sentiment of the buyers.

I won't count on that too much tho. Trend and hype, these two are so dangerous yet if used carefully you can make a fortune out of it. But it makes trading so risky during that time. As we know trend and hype fades away. And the time is always uncertain and unpredictable. Could end in hours. So saying that this makes crypto great, I can't agree with that statement. Yes, people are making good profits. But always remember, one's profit is another's loss. And in a situation like this, you could end up on either side.

Huge risk = huge profit. So if you are willing to take that risk then you can sure make profits if you are lucky. But why does this sound like gambling to me? To some extent, it is like gambling. For me, I won't take that risk. I look for long-term gains. That's less risky. And you can still make an analysis through technical analysis. But the results won't be 100% accurate. You can say that the success rate was 80-90% back in the day. But now it has come down to 70-80%

The success rates are low but that doesn't mean that you can't predict it anymore.

[Eternad]

Honestly, it's hard to survive trading and I've done that and got only few percentage of good trades and that's why I've stopped. I'm just trying to get back again and that's what I am applying to myself.

This is true since crypto is a volatile asset and we all know that volatile assets is very unpredictable. There’s a lot of indicators available for trading and most the so called TA analysts snip part of previous chart and apply an indicator that works on that particular scenario just to show off how good they are on trading but in reality they are just finding the right pattern on the given charts.

I hate trading on volatile assets as I learned my lesson on my many years on crypto. Holding is the best type of investment strategy since its less stressful and you can guarantee that you can have profit if you will not sell at loss.

[ChuckBuck]

I've seen a lot of traders like you spend hours backtesting, messing around with Pine Script on Tradingview, and other things. It's all just an illusion.

Here's what's really going on. You are correct. When you look at facts from the past, it all seems to make sense. This is known as "hindsight bias". But the market doesn't care about your old data or how well-written your scripts are. The market evolves, it's dynamic. Today's winning strategy could be tomorrow's disaster.

But what do you know? There ARE traders in the world who have done well. Not by chasing after the perfect combination of indicators, but by developing a profound understanding of the market, its movements, and its psychology. Stop focused on indicators and start learning about the market in real, tangible ways. Learn about trends and how the market feels, and build a plan from the bottom up. It's not the tools, but the person who uses them. 

[Dickiy]

~snip~

There's no such thing about assurance and precision when it comes to technical analysis and same goes when it comes to fundamentals on which it doesnt really assure that it would really be making out some sure effects

within the market and this is why it would really be just that so normal that you would really be that versatile whenever you do see those unpredictable movement here on the market.
Technical indicators arent useless, it is really just that the market is really that unpredictable and also, what would really be your tools on dealing with this market if you arent using TA just because
you do see that its irrelevant?  Just like on what others been saying that on the time that you would really be stepping your foot into the market then you would be finding that relevant
on making use of these tools because stepping into the market without these things would really be making things harder.

Yup, I guess that's the key on this market and you've said it about being versatile.

So as flexible as the others, we need to have various strategies whether they're TAs, fundamentals or etc that will help us with our trades then that should what we should be applying to ourselves.

Honestly, it's hard to survive trading and I've done that and got only few percentage of good trades and that's why I've stopped. I'm just trying to get back again and that's what I am applying to myself.

Well yes, even if we have a good strategy and some help from the available indicators but still it will not be completely successful, and it will only be useful to help you a little in achieving the target that has been set. Basically it will come back that the market is very volatile and there is no way that can conquer or predict prices with 100% accuracy there, but well as I said above we can increase the chances of profit in various ways available and assisted by the best strategy according to you.

The system already provides various indicator facilities that we can use to help our trading, you can use technical or fundamental analysis there according to your wishes and habits that you think are more helpful in finding a lot of profit. But there may be some traders, especially beginners who cannot use the tool properly so that in the end it seems to make them confused in finding the right decision. Well it is true that it is basically quite difficult to survive in trading, but it is also not a good alternative if because of that you decide to get out of trading and stop. I think you can trade by choosing the lowest risk and also of course the profit is not too big, but believe me it will be more able to make you comfortable in doing it. 

[AmoreJaz]

I've seen a lot of traders like you spend hours backtesting, messing around with Pine Script on Tradingview, and other things. It's all just an illusion.

Here's what's really going on. You are correct. When you look at facts from the past, it all seems to make sense. This is known as "hindsight bias". But the market doesn't care about your old data or how well-written your scripts are. The market evolves, it's dynamic. Today's winning strategy could be tomorrow's disaster.

But what do you know? There ARE traders in the world who have done well. Not by chasing after the perfect combination of indicators, but by developing a profound understanding of the market, its movements, and its psychology. Stop focused on indicators and start learning about the market in real, tangible ways. Learn about trends and how the market feels, and build a plan from the bottom up. It's not the tools, but the person who uses them.  

i can agree with what you said, but having knowledge of trading indicators is not all bad. you can understand what have had happened in the market if you know what you're looking at.
but since every project is different, you can't totally use what you learned about indicators. most of the time, these projects don't follow any known market behaviour. because it depends on the plans of the dev team. just look at those pumpndump coins. do you really think your indicators will help you if suddenly the team decides to rugpull? i don't think so.
this is more getting the feel of where the project is heading to, by checking the hints thrown by the team in social media, how they react to their subscribers, how they implement their objectives and so on. in short, you need to know the project itself to get the idea what direction they are traversing to.

[Oilacris]

~snip~

There's no such thing about assurance and precision when it comes to technical analysis and same goes when it comes to fundamentals on which it doesnt really assure that it would really be making out some sure effects

within the market and this is why it would really be just that so normal that you would really be that versatile whenever you do see those unpredictable movement here on the market.
Technical indicators arent useless, it is really just that the market is really that unpredictable and also, what would really be your tools on dealing with this market if you arent using TA just because
you do see that its irrelevant?  Just like on what others been saying that on the time that you would really be stepping your foot into the market then you would be finding that relevant
on making use of these tools because stepping into the market without these things would really be making things harder.

Yup, I guess that's the key on this market and you've said it about being versatile.

So as flexible as the others, we need to have various strategies whether they're TAs, fundamentals or etc that will help us with our trades then that should what we should be applying to ourselves.

Honestly, it's hard to survive trading and I've done that and got only few percentage of good trades and that's why I've stopped. I'm just trying to get back again and that's what I am applying to myself.

Trading cant really be able to handle or would be able to get it directly on just few tries on which i do really agree that it would really be requiring that sufficient time and experience for you to be able to
have that good grasps into it or something that do talks about awareness on how you would really be handling yourself into such market condition which is really that totally unpredictable. Yes, you would really be needing to be versatile as much as you could and wont really be trying to choose on what kind of strategy or tools you would be using as long it would really be relevant and would really be useful and this is something that you should really be setting out that kind of target. Try and try until you do succeed because things cant really be achieved without hardwork and trying out
to sustain on whatever challenges that you would really be able to encounter along the way.

[lalabotax]

While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.    When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
 

In my opinion no. If we are really able to analyze the indicators well, then this will have a good effect too. However, TA does not guarantee that our trading will always be 100% successful. Because in the crypto market world, nothing is 100% certain.
However, having the ability to analyze indicators better will be much better than not having the ability to analyze and only using feeling when opening positions and taking profits. At least TA will help us decide several things when trading. If it is not currently producing results, maybe there is still something wrong in the settings or in the analysis. Not only that, fundamental analysis is also needed in this case to carry out the best strategy for trading.

[Taskford]

While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.    When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
 

In my opinion no. If we are really able to analyze the indicators well, then this will have a good effect too. However, TA does not guarantee that our trading will always be 100% successful. Because in the crypto market world, nothing is 100% certain.
However, having the ability to analyze indicators better will be much better than not having the ability to analyze and only using feeling when opening positions and taking profits. At least TA will help us decide several things when trading. If it is not currently producing results, maybe there is still something wrong in the settings or in the analysis. Not only that, fundamental analysis is also needed in this case to carry out the best strategy for trading.

Wrong perception of others that TA can give them a guarantee profit that's why they easily believe on people says that they are good on it then follow their released TA or worst buy a subscription with them. But they realize that it didn't work on their end that's why they get frustrated about the result. Maybe they should learn for theirselves to know about doing TA so that they can analyze each situation on their own and get high chances to gain from the trades they make.

[goinmerry]

While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.   When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.

Because, unlike other assets, crypto is heavily volatile.

When dealing in crypto market, we can apply mostly the general statement here that past performance can't guarantee future results. Professional traders are even struggling to make up a good strategy in their respective trading activity and they really did actually end up in several and lots of different combinations of their indicators just to know what would be the best thing to apply.

Crypto has been unpredictable since then. Indicators are a big help. Just don't stop and soon you will hit the right strategy.

[poodle63]

While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.  When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.

Because, unlike other assets, crypto is heavily volatile.

When dealing in crypto market, we can apply mostly the general statement here that past performance can't guarantee future results. Professional traders are even struggling to make up a good strategy in their respective trading activity and they really did actually end up in several and lots of different combinations of their indicators just to know what would be the best thing to apply.

Crypto has been unpredictable since then. Indicators are a big help. Just don't stop and soon you will hit the right strategy.

thats the thing with cryptocurrency indicators sometime means nothing when the market quite literally go astray and didn't follow direction of usual technical analysis making it not consistent and hard to predict but one thing for sure about crypto is that if definitely follow trends, therefore by following trend we could somewhat get the formula of gaining profits by taking advantage of it.
but it doesn't really mean that technical analysis is entirely useless. there are many scenario where technical analysis is needed to know the well being of the market, determining whether the market itself is in a good trend or not.
therefore its always combination of both that could helps in trading career, and not depending on speculation.

[Dickiy]

Because, unlike other assets, crypto is heavily volatile.

When dealing in crypto market, we can apply mostly the general statement here that past performance can't guarantee future results. Professional traders are even struggling to make up a good strategy in their respective trading activity and they really did actually end up in several and lots of different combinations of their indicators just to know what would be the best thing to apply.

Crypto has been unpredictable since then. Indicators are a big help. Just don't stop and soon you will hit the right strategy.

thats the thing with cryptocurrency indicators sometime means nothing when the market quite literally go astray and didn't follow direction of usual technical analysis making it not consistent and hard to predict but one thing for sure about crypto is that if definitely follow trends, therefore by following trend we could somewhat get the formula of gaining profits by taking advantage of it.
but it doesn't really mean that technical analysis is entirely useless. there are many scenario where technical analysis is needed to know the well being of the market, determining whether the market itself is in a good trend or not.
therefore its always combination of both that could helps in trading career, and not depending on speculation.

That's right, sometimes even with the use of indicators but still the final result is not necessarily in accordance with what we expect, but in my opinion it is a natural thing because well the indicator is only an auxiliary tool for traders to be more confident or more confident that the market will really move according to what has been predicted. The point is that we must realize that it is not the trend that follows the indicator but the indicator that follows the trend with some reference points that are shown and of course that we can take advantage of.

I quite agree with you, and indeed in my opinion it is also better for us to use the follow the trend strategy because I think it is safer, and of course use a little fundamental analysis there, because on average strategies like this are more accurate when we use fundamental analysis, you will be safer from the cruel price fluctuations that occur before closing. I'm not saying technical analysis is not good but maybe it's just as a reference point for what's actually happening to the trend in the short term, and I think fundamental is also very good, if you want to be more comfortable mentally then you can choose some fundamental strategies that you might have.

[Etranger]

i can agree with what you said, but having knowledge of trading indicators is not all bad. you can understand what have had happened in the market if you know what you're looking at.
but since every project is different, you can't totally use what you learned about indicators. most of the time, these projects don't follow any known market behaviour. because it depends on the plans of the dev team. just look at those pumpndump coins. do you really think your indicators will help you if suddenly the team decides to rugpull? i don't think so.
this is more getting the feel of where the project is heading to, by checking the hints thrown by the team in social media, how they react to their subscribers, how they implement their objectives and so on. in short, you need to know the project itself to get the idea what direction they are traversing to.

Indicators allow a trader to form a general idea of how the market works. After all this is some kind of a definite guideline; they help structure the chart. Yes, they are not a guarantee that conclusions of a trader will be correct and productive, but they can help create a foundation on which those conclusions can be built.

[jossiel]

Honestly, it's hard to survive trading and I've done that and got only few percentage of good trades and that's why I've stopped. I'm just trying to get back again and that's what I am applying to myself.

This is true since crypto is a volatile asset and we all know that volatile assets is very unpredictable. There’s a lot of indicators available for trading and most the so called TA analysts snip part of previous chart and apply an indicator that works on that particular scenario just to show off how good they are on trading but in reality they are just finding the right pattern on the given charts.

I hate trading on volatile assets as I learned my lesson on my many years on crypto. Holding is the best type of investment strategy since its less stressful and you can guarantee that you can have profit if you will not sell at loss.

I won't argue about holding as I have proven that to myself as well. Nothing is gonna hurt as well for me to try going with trades and so far, I don't have good trades for my recent trades.

But that's fine, these indicators that I am believing seems to be not working with what I have bought but what's good here on doing it on spot. I am not obliged to sell when I am not yet in profit.

Until I see the profit taking time, going back to the old style of holding.

[justdimin]

There are times when indicators are very useful and there are times when indicators are not completely appropriate. This depends on market conditions. Sometimes there is a moment where market movements ignore the indicators that we usually use.

Of course, our mentality and emotions must be taken care of when what we usually use and apply in analysis when trading does not apply to market conditions, we must control or stop for a moment to observe market movements. It's better to avoid to maintain balance.

It's always good to take a look at the market time to time, there is nothing wrong with that, we could just stop trading for a moment and just hold our money and take a look at the market to see the bigger picture.

However, unless we are doing it on purpose because there is no good way to get into the market, then we shouldn't just wait around like that for a long time, not like months, that doesn't make sense neither. Indicators are not always correct, but at the very least they are telling us something, without indicators we wouldn't have that neither and this is why people mostly use that, to have a guide. This doesn't mean you are guaranteed to profit if you are using it, but at the very least you are trying your best.

[wxa7115]

Wrong perception of others that TA can give them a guarantee profit that's why they easily believe on people says that they are good on it then follow their released TA or worst buy a subscription with them. But they realize that it didn't work on their end that's why they get frustrated about the result. Maybe they should learn for theirselves to know about doing TA so that they can analyze each situation on their own and get high chances to gain from the trades they make.

I wonder where people get that impression, I mean any book which is serious about teaching its readers how to trade is very upfront about the fact that if you become a trader you will not only lose, but you will lose several times in a row and suffer important drawdowns during your journey.

So I suppose that those that think they can get guaranteed profits have never even read a trading book on their life, as otherwise it is impossible to explain why they have those mistaken beliefs.

[cute nmp]

It depends on how one use them ,some are very good using indicators and have made good profits from it while some are pure price action traders. Choose the part that suit you best wheather price action or indicators.

[nara1892]

Wrong perception of others that TA can give them a guarantee profit that's why they easily believe on people says that they are good on it then follow their released TA or worst buy a subscription with them. But they realize that it didn't work on their end that's why they get frustrated about the result. Maybe they should learn for theirselves to know about doing TA so that they can analyze each situation on their own and get high chances to gain from the trades they make.

I wonder where people get that impression, I mean any book which is serious about teaching its readers how to trade is very upfront about the fact that if you become a trader you will not only lose, but you will lose several times in a row and suffer important drawdowns during your journey.

So I suppose that those that think they can get guaranteed profits have never even read a trading book on their life, as otherwise it is impossible to explain why they have those mistaken beliefs.

That is the main thing that most people should already know, especially those who have just come to this trading. Of course the mindset they bring will greatly affect the results they will get later. And the fear is indeed something like this, mindset. It is not uncommon for some to come with the wrong mindset and usually also with greed. they come because they see the success of other people who have succeeded in this field and obviously they will be like encouraged to do the same thing in the hope that they will be able to have the same fate as the people they see. But the problem is that there are some of them who only focus on the benefits without seeing behind the big profits there will also be big risks, so they must really consider it, this is not a place to make you rich instantly but trading only gives you the opportunity to achieve all that, and well whether it works or not depends on you yourself who live it, if you really mean it then I'm sure you can achieve it, and well still you have to bring the right mindset, not to be greedy because you want to be rich and also have to have good planning.

There are no guarantees there, profit and loss will definitely occur alternately. Therefore you must continue to learn especially to minimize losses that you definitely do not want there. The point is not to be a complete solution to realize your dreams but maybe trading only gives you opportunities and the rest is back to yourself.

[panganib999]

Not so much. Technical Indicators are meant to be guides for you to derive a sound judgement from, they're derived answers aren't to be taken at face value and you should always employ a broader perspective approach when receiving Technical Analyses. The thing about TA is that it's almost always going to be wrong, but you'll know this retrospectively, and you're not really a clairvoyant (at least I think so) so the best thing you could really do with these analyses since they are still good is to actually piece them out, break them down in wires and figure out why and how these people came upon these conclusions. Just cause someone's saying "bitcoin would drop to 10k next month due to this chart I made" you'd follow them blindly already, figure out why they say that, understand the reasons and what indicators they came upon that led them to that conclusion, from there, create your own opinion and follow that.

[poodle63]

Wrong perception of others that TA can give them a guarantee profit that's why they easily believe on people says that they are good on it then follow their released TA or worst buy a subscription with them. But they realize that it didn't work on their end that's why they get frustrated about the result. Maybe they should learn for theirselves to know about doing TA so that they can analyze each situation on their own and get high chances to gain from the trades they make.

I wonder where people get that impression, I mean any book which is serious about teaching its readers how to trade is very upfront about the fact that if you become a trader you will not only lose, but you will lose several times in a row and suffer important drawdowns during your journey.

So I suppose that those that think they can get guaranteed profits have never even read a trading book on their life, as otherwise it is impossible to explain why they have those mistaken beliefs.

but then again if these TA doesn't even helps in getting profits why even bother doing TA in the first place, I think TA is good way as an indicator to know which project deserving investment and to trade for those traders.
the TA most of the time helps getting profits, but sometime as you know when the market is just working out of pure supply and demand, TA somehow becomes less relevant in this regard and instead the market will gone astray from what described in TA guides, therefore its not only TA required for making profit but also the instict of adapting the market and knowing what gonna become beforehand.
otherwise its just gonna be series of lose.