chaser15
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September 29, 2023, 11:35:43 PM |
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What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions? What are your thoughts on this matter?
The technical analysis states what are the best possible things that might happen in the future. It's up to you if you want to believe in those but those analysis were made by carefully studying the market. It doesn't just show there as a simple prediction. These traders don't just want to predict without any backed up or support on what they are saying. There's no 100% prediction that's why it called prediction. Technical analysis will help us decide what to do next.
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Captain Corporate
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September 29, 2023, 11:50:38 PM |
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There are a lot of chart readings using exactly what OP talks about. You check the history, and how it moved and you check current times, and when on long enough time it does the same thing, you check what happened afterwards in the past and assume it will be the same. How do you think those charts are made, why do you think people all know what head and shoulders means, that's not just a shampoo, its a candlestick movement. Thats why its quite important to know the past, and memorize some common moves and act accordingly to make predictions about the future. Doesn't mean it will happen, it just means that there are some who uses them.
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Ben Barubal
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September 30, 2023, 12:47:55 AM |
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Everyone knows that we can learn from the past to correct mistakes. As a result, many economists attempt to predict the future through history.
We also have a known fact from the past. The "Bitcoin halving" is correlated with price increases.
I'd like to pose a new question here. What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
Let me clarify: in terms of the learning process, we can't only learn from mistakes in the past, nor can we learn from other mistakes; besides that, we can also learn from the right situations that happen. I say this so that there is no confusion among others who will read what we are talking about here. Just like the topic being discussed here, let's use our common sense and logic. If technical analysis does not help traders conduct trading, there is no need to use it because it is obviously useless, right? That's why the reality that happens in actual trading, whether it's stocks, forex, or crypto trading, is not like that. These three I mentioned use technical analysis. Therefore, technical analysis is a great contribution for traders.
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Hypnosis00
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September 30, 2023, 03:05:11 PM |
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I would tell you OP that you can never see good results from TA if you don't believe. It is useless honestly to say that TA is good if you don't understand it clearly.
As you can see, traders are using these tools candlesticks and price charts to analyze the market trend and that is because they believe that this would help them predict what will happen next. Though it was not 100% but at least we have some basis for our trades and the chances to earn is higher than those who have nothing. It is clear to us traders that we need these tools otherwise, it makes no sense when trading if we have no basis as it is just like gambling that are hoping for luck.
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alastantiger
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September 30, 2023, 07:56:45 PM |
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Yes, I believe technical analysis as a good guessing tool, but not as an accurate and true opinion. This is the beauty of trading, if you could calculate something exactly, everyone would be millionaires, but this is not possible, so perhaps it is worth studying technical analysis but not relying on it as truth. This is not mathematics or physics, this is not an exact science
Technical analysis is good but it shouldn't be used solely. I also pay attention to fundamental analysis. I use both of them based on the strategy that I am using at that moment. I know a trader who uses only technical analysis and makes a lot of money from it because he has experience in it.
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ice098
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September 30, 2023, 09:25:44 PM |
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Everyone knows that we can learn from the past to correct mistakes. As a result, many economists attempt to predict the future through history.
We also have a known fact from the past. The "Bitcoin halving" is correlated with price increases.
I'd like to pose a new question here. What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
Yes I belive in either candlestick or technical analysis, both are good strategy that can be use in trading and it is very helpful when you are starting to trade. When I started trading I only knew candlesticks, yes it is not 100% accurate because sometimes there's an unexpected things happen but it's fine as long as you know how to use stop loss or make a dca. Just like other things it is better to make research first too
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tygeade
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October 01, 2023, 04:46:52 AM |
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If you believe in luck in trading, why not believe more in technical analysis.
Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.
Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time. And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements. That is sort of true, I mean you have to do all those type of stuff to keep it going otherwise it's not going to make any sense, all those numbers and charts and indicators would be useless if we didn't use them properly so you are doing a great job. However, you have to also realize that it's not going to be all that different and should be doing something that could win something on the long run. I personally do not believe that it would be terrible, we could maybe try to look at it different ways sometimes, because even though TA is a great way to see how it goes, news are not that terrible neither because while it looks one day on TA, a news could make it go the other way around. So always be open for other stuff too.
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btctodamon
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October 01, 2023, 10:31:04 AM |
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What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
Using past candlestick charts to make price predictions is a common practice in technical analysis, a methodology used by traders and investors to forecast future price movements based on historical price data but it should be used alongside other forms of analysis and risk management strategies. It's important to be aware of its limitations and remember that no method can provide foolproof predictions in the ever-changing world of financial markets,
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Richkiedx
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October 01, 2023, 11:58:40 AM |
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Ya Of course, in the trading industry, you shouldn't just be predicting what the market will do, what's important here is that you have knowledge
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Huppercase
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October 01, 2023, 02:57:19 PM |
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I would tell you OP that you can never see good results from TA if you don't believe. It is useless honestly to say that TA is good if you don't understand it clearly.
As you can see, traders are using these tools candlesticks and price charts to analyze the market trend and that is because they believe that this would help them predict what will happen next. Though it was not 100% but at least we have some basis for our trades and the chances to earn is higher than those who have nothing. It is clear to us traders that we need these tools otherwise, it makes no sense when trading if we have no basis as it is just like gambling that are hoping for luck.
You took the words out of my mouth. You only believe something that work for you and that is because you believe that it will work, if you don't believe, no way it will work for you. The trading technical analysis where there and has work and hence why there are tutorials of it every meida form, there is vidoes to learn and there also PTDF, will you still say if it work or it doesn't, I have seen good traders do live vidoes to test their skills and they work like magic. However, over dependency on anything is bad and technical analysis is not different. Try and merge them together with fundamental and also your guilty conscience because sometimes, your conscience will be fast in decision making than the analysis you have planned. In addition, don't over depend on technical analysis it becauase there is no way you will want to trade and you wouldn't use indicators and indicators will also give you wrong signal too.
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khiholangkang
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October 01, 2023, 04:59:42 PM |
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If you believe in luck in trading, why not believe more in technical analysis.
Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.
Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time. And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements. That is sort of true, I mean you have to do all those type of stuff to keep it going otherwise it's not going to make any sense, all those numbers and charts and indicators would be useless if we didn't use them properly so you are doing a great job. However, you have to also realize that it's not going to be all that different and should be doing something that could win something on the long run. I personally do not believe that it would be terrible, we could maybe try to look at it different ways sometimes, because even though TA is a great way to see how it goes, news are not that terrible neither because while it looks one day on TA, a news could make it go the other way around. So always be open for other stuff too. This means that for the analysis itself, we must not close our eyes to supporting data in the analysis, and the news includes external data that we need to observe and see how it can affect Bitcoin, for example the FOMC results can sometimes put pressure because The Fed raises interest rates, While on the chart that we analyze shows the results of the potential for bullish on the market. Well this is where the importance is not only TA used to predict prices, but external sentiments such as the news also need to be put into your formula in calculating the potential for price movements.
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| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
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KingsDen
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Goodnight, o_e_l_e_o 🌹
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October 01, 2023, 06:45:20 PM |
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Even outside the world of cryptocurrency, when there is involvement of a word called speculation, there is always a database to fall back to in order to have the idea of what to speculate. You cannot just speculate out of a thin air. There should be some tips of what has happened and how it will likely happen in the future and that is where history has to come in.
The technical analysis is all about interpreting history into a graphical form to be able to correlate the past with the present. This is a very strong to in making prediction in the crypto-currency market. However, this does not work alone, you need argument it with fundamentals. Both technical and fundamental analysis complement each other because it is what happens in the news that will begin to play out in the current charts. Also the chart shows you what will happen in the future depending on the psychology of the traders.
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dunfida
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October 01, 2023, 07:21:12 PM |
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If you believe in luck in trading, why not believe more in technical analysis.
Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.
Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time. And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements. That is sort of true, I mean you have to do all those type of stuff to keep it going otherwise it's not going to make any sense, all those numbers and charts and indicators would be useless if we didn't use them properly so you are doing a great job. However, you have to also realize that it's not going to be all that different and should be doing something that could win something on the long run. I personally do not believe that it would be terrible, we could maybe try to look at it different ways sometimes, because even though TA is a great way to see how it goes, news are not that terrible neither because while it looks one day on TA, a news could make it go the other way around. So always be open for other stuff too. This means that for the analysis itself, we must not close our eyes to supporting data in the analysis, and the news includes external data that we need to observe and see how it can affect Bitcoin, for example the FOMC results can sometimes put pressure because The Fed raises interest rates, While on the chart that we analyze shows the results of the potential for bullish on the market. Well this is where the importance is not only TA used to predict prices, but external sentiments such as the news also need to be put into your formula in calculating the potential for price movements. Whether you do close it or not but still you would really be that having no choice because if you wont really be making use of those tools and indicators then you would really be finding yourself that it is really that something relevant and something that cant really be just that ignored. Just like the rest been saying that we do know that this market cant really be having those news and sentiments that floats around on which means that you would really be seeing that significant with those indicators or tools which you would really be needing to learn on how to make use of it. You would soon realize that it is really really that something relevant or important that you should really knowing because you cant really be finding yourself to be that efficient with your trading if you do just make out some blind trading positions on which it would really be causing that much potential problem which might cause into that losing of money on which this is something that we dont really like to happen and this is why we should really be that careful on whatever things that we do tend to deal with. Be sensible and be that wise on handling yourself on this market.
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lalabotax
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October 01, 2023, 09:29:22 PM |
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I'd like to pose a new question here. What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
At least, Technical Analysis can help us to analyze several possibilities. And this analysis is still a prediction, it just depends on how closely our analysis is based on reality. And remember that no analysis or prediction will always be 100% accurate. Maybe there will still be a miss at some point. But at least with Technical Analysis, we won't blindly predict the market. At least, it will be close, so we can optimize the opportunities we have. If the market suddenly changes direction due to other sudden factors, then this is also an exception. For this reason, Technical Analysis is one method that can be used. Not the only one.
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Smartvirus
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October 01, 2023, 09:42:52 PM |
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When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
History does repeat itself and this inferences is what we derive from the charts in technical analysis. It’s been overly planted in the kinds of traders and becomes the course to follow when discovered. This can only be affected when we have those big investors come into the game and some news although, news hardly play out in the crypto market. Technical analysis remains a very vital form of analysis to getting a good idea about the direction of the market, good enough there are tools to tell who’s dominant in the market and how to utilize it in trading. It’s better to follow some form of analysis than no analysis at all and technical analysis brings you closer to accuracy.
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Kelvinid
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October 01, 2023, 09:44:10 PM |
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I'd like to pose a new question here. What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
At least, Technical Analysis can help us to analyze several possibilities. And this analysis is still a prediction, it just depends on how closely our analysis is based on reality. And remember that no analysis or prediction will always be 100% accurate. Maybe there will still be a miss at some point. But at least with Technical Analysis, we won't blindly predict the market. At least, it will be close, so we can optimize the opportunities we have. If the market suddenly changes direction due to other sudden factors, then this is also an exception. For this reason, Technical Analysis is one method that can be used. Not the only one. Indeed, TA is just a guide for traders but it helps a lot to know when to place buy/sell orders. Even though it was just a sort of market prediction but it is believed that this tool is quite necessary in trading if we wanted to earn. Many traders trade blindly and as we can see, they are experiencing more losses than those who use TA. It means that it was quite effective having this tool. However, losing is still possible if we don't understand it and the other thing is that if we can't manage to handle our emotions.
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Bushdark
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October 01, 2023, 09:45:34 PM |
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There are a lot of chart readings using exactly what OP talks about. You check the history, and how it moved and you check current times, and when on long enough time it does the same thing, you check what happened afterwards in the past and assume it will be the same. How do you think those charts are made, why do you think people all know what head and shoulders means, that's not just a shampoo, its a candlestick movement. Thats why its quite important to know the past, and memorize some common moves and act accordingly to make predictions about the future. Doesn't mean it will happen, it just means that there are some who uses them.
I still don't know how trading would look like without technical analysis because these is one of the thing that makes trading very much comprehensive to traders so they can easily read the market without any much process. We can't always be looking for the appropriate news or how we are goinh to understand what the market is capable of doing when we depend only on fundamental analysis. There is need for us to also look at ways of understanding the market which we can get using the technical analysis to read and predict the possible movement of the market which can be through the previous charts, market patterns or structures or the use of indicators.
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Ndabagi01
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October 01, 2023, 11:15:16 PM |
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When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
Technical analysis has proven to be valuable tools in making future predictions and projections of the bitcoin market, and the most of them have been confirmed to be correct by experts, whom their predictions always work in the direction predicted. Professional traders have been employing technical analysis to stay in the market and get the most out of their investment in the bitcoin market. The market is quite volatile, and I believe that understanding technical analysis can help you minimise losses and take profit where necessary in the market. To my knowledge, becoming a trader necessitates extensive knowledge and understanding of the market's technical components.
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edmundduke
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October 02, 2023, 07:37:15 AM |
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-snip- When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors." What are your thoughts on this matter?
You dont need to believe the results from technical analysis nor the methodology, what you need to realize is that there are people that do. So the professor is right, it works because people think it does. They are great to find out what the current sentiment among traders is and might be coming but dont take it as gospel, probably the most important part of it. Overall theres so many factors when making a trade, TA is just one part of it.
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BenCodie
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October 02, 2023, 07:43:33 AM |
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Each kind of analysis plays a different role, each piece of research relates to a certain timeframe. Technical analysis can help you act on fundamental research that you have done at the right time, or identify the value of the instrument that you are analyzing. Do I believe in technical analysis as a concept? Of course, it would be highly irrational to say that all activity is random and that chart triggers or patterns are always random and with no influence. Do I believe that it's highly accurate? That depends on how it is utilized. I agree with the first post that TA is not 100% accurate. This is a fact that a new trader should find quite quickly into their first try of TA ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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