Quote from: Easy2Mine on April 04, 2014, 07:07:00 PM

Quote from: chesthing on April 04, 2014, 06:56:48 PM

I fail to understand how a support level established before btc's ath, before China and Russia ban, before the enormous losses suffered by the Mt Gox disaster, before the IRS ruling btc is property and not a currency, when the mining landscape was far different, when the adoption landscape was far different, has any fucking meaning whatsoever.
But wtf do I know, I'm not a TA pro.

Read this article
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2401230

It has been confirmed by really smart people that people using TA lose more profit than people who don't use it.
A big financial corporation never ever use TA alone.
If you can get your hands at BTC address from the trolls here and analyze it through the blockchain, you will notice none of them have made profit, only big losses.

Everyone has the right to be a bull or a bear, but manipulating and misforming information is so annoying.

All I had to read was the Abstract where they gave multitude of reasons why their TA subjects had less returns. Any one or more of those reasons could be the lion share of losses. If TA was 100%, everyone would use it and it wouldn't work. It may give insite and a bit of leverage like say counting cards but it doesn't predict the future. You still need to have a diverse investment portfolio etc.

"Overall, our results indicate that individual investors who report using technical analysis are disproportionately prone to have speculation on short-term stock-market developments as their primary investment objective, hold more concentrated portfolios which they turn over at a higher rate, are less inclined to bet on reversals, choose risk exposures featuring a higher ratio of nonsystematic risk to total risk, engage in more options trading, and earn lower returns."