I am not doubting its existence. I am doubting its efficiency.
RE: STEEM Price Analysis – May 30, 2017
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STEEM Price Analysis – May 30, 2017
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Is that why you choose to attack people who write about it and claim that it's all "snake oil" and "bullshit." Because you're just "doubting its efficiency?" If you comprehend what it is and have genuine doubt, there are better ways to go about expressing that.
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attack? I am debating man. chillax :). I do that with everybody. I am bit allergic to bullshit.
All you have to do is make counter arguments. There are plenty of evidence that TA is plain, unfiltered bullshit. Just because there are probabilities involved doesn't make it valid. Lottery has probabilities involved as well.
and guess what. The amount of traders that do make it at the end resemble the distribution of lottery winners. Now how about that?
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Don't fall into the trap of hindsight bias. Sure the crypto markets are incredibly bullish and right now it looks like people that just held on did very well.
What you're forgetting is the variance and relative drawdowns you experience with this route.
If I had just held my ETH from 2015 until now I'd have done a little better than my portfolio at the moment. Instead I traded it and used TA to control my risk. I'm happy I did that however as I've had a much smoother equity curve without any crazy drawdowns.
If you teach some random moron off the street some TA and think that's all you need to have to make money in the markets then I'm all with your interpretation.
Like anything in trading, it's a tool to be used within a wider context of additional tools, experience and your own personality with the market you're trading.
Discounting it the way you do is just as bad as people that think it's a magical 100% prediction tool.
In my own experience it's helped me massively and something that I use daily. For some of the other guys in the office they don't use it at all... It's all about finding your best fit.
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