I have been participating in the Steemit Crypto Academy for about two months and have been doing all right, yes sometimes my homework gets zero rewards but sometimes I get very good rewards, so it is really worth it. But these last two weeks I have had writers block and have not sent any homework, I think it was after I saw a Fibonacci technical analysis, this one really left me without much ideas.
I mean everyone knows what Fibonacci is, it is a series that starts with 0 and 1, and then you just add the last two numbers and continue the series, like 0,1,1,2,3,5,8,13... to infinity. What does this have to do with Crypto? We all know crypto prices are moved by greed, deceit, fear and a lot of other human emotions. Do we really think Technical Analysis can predict the future movements of crypto? I think a psychological study of people investing in it would have better results.
I will still participate in SCA as I do want to come on a Technical Analysis that does do its work, but I tell you I am still looking for it. You know it seems to me if TA were really good all people who teach it would be rich and most probably, people being people would not be giving their knowledge away.
What I really, really want is to see Steem at its ATH, that would be great, alas TA cannot tell me if it will get there, so I go by intuition and my intuition is thoroughly lacking. But it is looking much better today.
I have been trading on the crypto exchange since 2017. At first, I traded in the spot market, but when I gained practice, I switched to futures trading. I assure you technical analysis will never allow you to clearly predict the future. In addition to Fibonacci levels, you will also master the theory of Eliot waves, time cycles, indicators and oscillators, etc. None of this will help predict the price for tomorrow, the coming week or month. However, all these tools allow you to make a trading plan and strictly adhere to it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well I think the whole idea is buy low and sell high, the hell of it is knowing when these two points happen, and there is actually no way of knowing (except, of course if you are a whale and in collusion with other whales). If there were a lot more people would be very wealthy today.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, you are absolutely right.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit