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Epic Pennant on BTC Chart


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Everyone is entitled to his or her opinion. Right now it looks to me like LTC might possibly break out.. I like to watch breakouts the way some people like to watch football games. It'll be fun to see if it happens.

Useless? Less important to a hodlr like me than it is to a trader, for sure, but far from useless. 

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1 hour ago, automatic said:

Lemme get this straight - you guys decided to specifically go to XRP Trading and Price Speculation club, find a popular topic about a TA pattern (pennant) on BTC chart, and then post in that very thread that you think TA is BS?  

Well, hell - you might as well have gone to a BBQ steakhouse and tried to educate everyone there about merits of being a vegetarian.

Thank you for your opinion, but I think that you might be in the wrong place.  Salad bar is across the street and it is called the General forum.

Everyone's bored.. They've all had a good 10 page nag about Tiffany so now there moved over to give the TA thread a bash 8)

We need a 3cent pump so we can mooooon and mmmoooaare and fomo. Then a nice 3 cent dump so we can dooom and gloom. That'd keep everyone occupied for six days, specially the TA mob 8)...

Short of that there's heaps of other things to do like reworking the agony of exit points, selling the furniture for more funds, or heck, jus' go and get drunk on some cheap wine or something. There's also that thing called "life" to enjoy 8) ...

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2 hours ago, automatic said:

Lemme get this straight - you guys decided to specifically go to XRP Trading and Price Speculation club, find a popular topic about a TA pattern (pennant) on BTC chart, and then post in that very thread that you think TA is BS?  

Well, hell - you might as well have gone to a BBQ steakhouse and tried to educate everyone there about merits of being a vegetarian.

Thank you for your opinion, but I think that you might be in the wrong place.  Salad bar is across the street and it is called the General forum.

Wow you put a lot of thought into that paragraph and we’re still wrong lol. It was a recent thread.

Daytraders/TA “analysts” have always been proven to be out performed by buy and hold strategies. Just trying to help you dudes. 

Have fun with your lines.

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4 hours ago, Finesse said:

Wow you put a lot of thought into that paragraph and we’re still wrong lol. It was a recent thread.

Daytraders/TA “analysts” have always been proven to be out performed by buy and hold strategies. Just trying to help you dudes. 

Have fun with your lines.

Well you really need to put that into context. For people with no idea what they are doing (most people including me) then yeah. But i would bet my left testicle that an experienced trader would destroy hold strategies in terms of returns.

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4 hours ago, Finesse said:

Wow you put a lot of thought into that paragraph and we’re still wrong lol. It was a recent thread.

Daytraders/TA “analysts” have always been proven to be out performed by buy and hold strategies. Just trying to help you dudes. 

Have fun with your lines.

Buy and hold can only outperform if they bought something that will succeed and thus bring a nice return.

A good daytrader kan make profits on an investment that goes nowhere besides some ups and downs by riding the waves.

I'm the buy and hold guy btw, I believe XRP can bring a very nice return for the holders with more patience than 6-24 months.

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TA isn't bullsh!t if enough active traders (algos included) believe it isn't bullsh!t.  It becomes a self-fulfilling, psychological market force.  This was always my belief, am I wrong?

Edited by eoma
These forums are rated G now?
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14 minutes ago, Eric123 said:

@Finesse @robertbruce @LiquidGoat @captainjack @Trentsteel @Caracappa @automatic @Yodaxrp @eoma

I Agree with everyone.  Look it is obvious that TA has it's limitations as I have written before.   XRP almost completely defies TA, as it's price lays dormant for periods of time then seeming runs out of nowhere. Predicting XRP price timing with TA seems to me to be nearly impossible.  Also the fact that the entire crypto market is basically dominated by Bitcoin also further complicates price movements of alts.

That being said, certain price patterns have emerged regarding bitcoin that are foolish to ignore.  Charting these movements can provide the astute trader with possible good entry and exit points.  Obviously we have seen that exact point work in this thread and if you used my TA to pick your bitcoin entry or followed my advice on buying LTC you have already made a stellar (pun intended) return.  If you haven't or didn't, don't worry you still have a chance with XRP, I continue my daily buys. @LotusFace I use coinbase.

Now I disagree with a ton of TA out there.  Reading the headlines on TradingView blogs usually makes me cringe.  As @eoma points out, as more stock traders enter the market, TA will become more important as it is what those guys use to set their algos, with many, if not most of their trades being performed by bots.  However, crypto doesn't move like stocks or commodities- it moves like crypto, so not all of the TA rules apply.  Also different TA indicators will give contradictory outlooks. 

Basically the things to remember.  

1.  TA works, kinda.

2.  Buy and hold works, kinda.

Remember no TA in the world would have told you to buy bitcoin when it was .01.

If you research a project and believe in it, invest in it.  Should you use TA to pick your entry, yeah it usually helps.

  

@Eric123 What do you see going on at this point?  It seems as though we had a nice little run and now we are melting back down to the inevitable 0.30-0.31 range.

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12 hours ago, Finesse said:

Wow you put a lot of thought into that paragraph and we’re still wrong lol. It was a recent thread.

Daytraders/TA “analysts” have always been proven to be out performed by buy and hold strategies. Just trying to help you dudes. 

Have fun with your lines.

Any proof about this? I mean the line about ‘always been proven to be out performed by buy and hold strategies’. 

Cos that statement sounds like bull to me. 

:)

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48 minutes ago, djdhrubs said:

Any proof about this? I mean the line about ‘always been proven to be out performed by buy and hold strategies’. 

Cos that statement sounds like bull to me. 

:)

It’s of course utter nonsense. It’s applicable to people with no trading experience and that’s about it. If it was true we would have 0 liquidity and everyone’s assets would be worth feck all as there would be no demand.

 

 

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9 hours ago, LiquidGoat said:

Well you really need to put that into context. For people with no idea what they are doing (most people including me) then yeah. But i would bet my left testicle that an experienced trader would destroy hold strategies in terms of returns.

Look at all stock fund managers and day traders 9/10 lose. Fund managers can’t even keep up with the index funds 8% on average because no human can watch the market 24/7 and be right every single time. It’s best to buy and hold and go get some more money elsewhere to then invest again . 

Broke people with no way to gain capital focus on day trading to slime a few bucks here and there. 

Edited by Finesse
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1 hour ago, djdhrubs said:

Any proof about this? I mean the line about ‘always been proven to be out performed by buy and hold strategies’. 

Cos that statement sounds like bull to me. 

:)

Bro don’t listen to these dickwads drawing lines lmao. 

Warren buffet the greatest investor in history a ******* billionaire buys cheap and holds. He has his own wife’s inheritance invested in the s&p500 index fund because fund managers and these wall street super investor wannabes can’t return 8% on average annually. 

 

These boys in crypto think they’re doing something when whales have trading software ******* their profits up because crypto is unregulated. It’s best to get in at a good price and hold your seat on the way up.

 

omg and that’s not even including the fact these dudes all store their “profits” in tether which is all BS not backed by the dollar and being used to prop up btc.

 

Edited by Finesse
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