Murtaza Hussain
@mazmhussain
One of the most insane things that people seem to take seriously is "technical analysis" of crypto or stock prices. I have never seen any predictive power behind this, its basically akin to astrology and is more like a fun hobby to help with fantasizing about future wealth. Social media has created an entire genre of freelance technical analysts with lots of charts and predictions that never seem to correspond much to reality. Its good fun if you look at it that way but please do not take it too seriously.
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Beninem
@beninem
My job out of college was to backtest hundreds of technical analysis indicators and pour through dozens of academic studies on various TA indicators to find the rare diamonds. And you're right to a certain extent. 99% of technical analysis is garbage, with Dunning Kruger effect firmly screwing with traders and indicators only spread further because at one time an indicator "worked" and so then salesman/snakeoil folks took it over and the indicators are usually easily frontrunnable or gameable and so the TA indicators stop showing any predictiveness. To say there's no predictive power though is to not have seen the 'right' things. For example take any kind of objectively simple, scientifically testable and historically backtestable plain vanilla Sentiment indicator and you'll find they're usually quite predictive. Human emotions at extreme sentiment points provide excellent contrarian exit/entrance points which can always beat out buy-and-hold strategies on a risk-return basis.
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Mikko
@moo
If technical analysis woudl not work, it would mean that the technical traders with less experience would be as good as traders who have been doing it for twenty years and this is not obviously not true.
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