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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Varun Srinivasan
@v
It's not entirely fake like astrology - momentum based trading strategies did work once upon a time (c.f. turtle traders) and are still used as short term signals. But the vast majority of charting is just absolute nonsense.
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Murtaza Hussain
@mazmhussain
You're right I was being somewhat hyperbolic for mild comedic effect. It may have some relevance to high frequency traders with access to privileged data about short-term price movements, though seldom to normie retail investors.
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Monteluna
@monteluna
Personally one model for trading is you're either buying momentum or you're buying value. How you psyops yourself into buying momentum or value is irrelevant imho.
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QUBYT!
@qubyt
lol 😂 🤣
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Sunny
@sunnysangwan
momo trading is more human psychology than technical imo. Understanding probability theory comes in pretty handy when trading too.
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