TA can’t predict anything...?
Dude, c’mon.
You can predict PERFECTLY. For example: price might go up to this, this, this, this, or this level. Or, it might go down to this, this, this, or this level. It’s like science, bro.
You just don’t know how to read the patterns well enough, man. Let me post a dozen examples a day, and after my wallet is overflowing with millions of Steem a Dollars, maybe then you’ll see the light... 😂😉
LMAO... yeah, its like TA can predict with 100% certainty that price will move either up or down, thats for sure! LOL... This is just gambling, thats all...
In all fairness, technical analysis does have its time and place.
I studied forex for two years a decade ago, and developed a great appreciation for the hybrid science-art. Especially when bringing in Elliot Waves and Fibonacci combined together - there is definitely some magic at work in the dynamics of market movements, and immense profits are possible if truly mastering the use of these tool. (I studied under a mentor whose success with them was mindblowing. Although I could understand and follow along well, I myself didn’t have the same psychological temperament and skill to run with his same strategy - though maintain the utmost respect for it).
Thing is, they’re tools in a toolbox - to be utilized in broader, comprehensive strategies. It takes a number of tools/indicators used together in a larger context, where they can fill in different parts to paint a more complete picture - and even then, there are still the elements of risk management and money management.
TAs like the dude in question don’t teach that larger picture.
And, they’re using manipulative psychological tactics to reel people in and inflate hope.
So, the entire realm of technical analysis is not at all bullshit - but they reasonably may lead others to believe so, because they’re misrepresenting its use.
IF one were to fully immerse themselves in the craft of professional trading, its not gambling - as it becomes a matter of risk management, money management, and mathematical probabilities within tested systems and strategies.
But, the degree of diligence, skill, brains, time, and energy required in playing at that level is well beyond the capability of the average joe who just wants to delegate responsibility to some “expert” and earn quick riches.
Shit. Seems like this may need to become a new post of its own.
Thanks for the stimulation. 😊🙏
Haha i know what you mean... As a scientist my self i have been studying fibonacci and elliot waves and trying to figure out how this can be an accurate science, and the true is that it isnt... There are psychological factors that drives the markets and some technical analysis can explain the behavior of certain markets but most of the time it works only to understand what happened and not what will happen...
I think most of the time trading is based on pure intuition, although TA can help to take decisions, every move you make can (and will) lead you into loose money most of the time... Physiological factors end up being much more important...