Quote from: stompix on December 16, 2020, 08:36:29 PM

Quote from: cryptoadviser on November 30, 2020, 04:37:18 PM

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

Two weeks later..and the technicals were a bit ...not technicall
And this prediction was coming from a guy who claimed to roll in hundred percent gains and also tried, fortunately unsuccessfully to manage other people's money around here or to charge for advices that would earn you, how much is zero? Grin

Which shows that for the most part those claims are just there to try to entice people to invest with them, unless hard evidence is shown about previous success then all of those claims should be assumed to be false, after all anyone can create a strategy that uses a lot of indicators and that on the surface it may seem profitable but when applied to the markets it does not work.

Quote from: stompix on December 16, 2020, 08:36:29 PM

Quote from: cryptoadviser on December 05, 2020, 07:14:02 AM

TA works because people see it. People see it so it works. Its a self-fulfilling prophecy.
Work on probabilities and you will never lose money on trading.

TA works because you can see in TA whatever you want, you can put a billion indicators on a chart and eventually one will fit perfectly...

This is called overfitting and it is a serious problem with trading, you can always find a combination of indicators that will predict perfectly what the market did in the past, which is why actual successful strategies are supposed to consist of nothing more but 3 or 4 indicators at max always with the same settings, if a strategy can prove itself to be profitable in many different markets over many different market conditions then the strategy could be considered to be profitable, but obviously such a strategy will not win 100% of the time as most scammers claim.