Crypto Analysis

[L-Dog]

Hey guys

Playing around with day trading and alt coins and was wondering if there are any websites you guys can recommend for analysis ?

Came across this one: https://platform.altfins.com/ but haven't found any others

 

[Snyper564]

My 2c it doesnt work for crypto - one tweet from elon will fek any analysis

 

[L-Dog]

My 2c it doesnt work for crypto - one tweet from elon will fek any analysis

Agreed been following it the last couple of months and there is so much market manipulation but still great opportunity

 

[Gatecrasher]

Crypto is a belief system. Nothing underlies it. No fair value model. Only the belief that someone else will pay more for it at some point in the future.
Technical analysis is a belief system. No science behind it. Only the belief that future performance can be predicted by past performance. But it can't.

You can't use one belief system to predict another. Just go ahead and gamble.

 

[saor]

No science behind it. Only the belief that future performance can be predicted by past performance. But it can't.

Of course, but sometimes it can help make the decision feel less random than gambling. Whether that randomness is really reduced I don't really care to debate because ultimately I don't know either and the randomness reduction might be fractional but...that's the fun of these markets I guess. See things you think are increasing your odds of making a profitable trade and testing the idea.

Like BTC price right now, my trade would be as follows. The price might not do that. Might do something completely different. But...gotta try something .

 

[Gatecrasher]

Of course, but sometimes it can help make the decision feel less random than gambling. Whether that randomness is really reduced I don't really care to debate because ultimately I don't know either and the randomness reduction might be fractional but...that's the fun of these markets I guess. See things you think are increasing your odds of making a profitable trade and testing the idea.

Like BTC price right now, my trade would be as follows. The price might not do that. Might do something completely different. But...gotta try something .

In the early 90's I used to write TA systems. Included in the product was an optimizer, which would test trading signals and strategies against historic data. I could always find winning strategies on past data. But whenever those same strategies were applied in real-time or to data not included in the optimization window they failed. They typically reduced to a 50/50 success ratio less the trading costs.

But I understand it is a comfort to have a belief system.

My dad had a system for roulette, on the basis that number frequency was cyclical. So when a number repeated within 9 spins, he would bet on it recurring again in the next 9 spins. When it worked he was happy and felt vindicated. When it didn't - no problem because he only had to have 1 win in every 4 to break even. Sometimes the number would repeat 2 or 3 times. Bonanza night. Sometimes, not a sausage all night. He never achieved financial success with his system, but he had fun, and could tut-tut at the other gamblers scattering their chips randomly over the table or following their favourites. But at the end of the day he was paid 35/1 by the house for a 1 in 37 risk, just like everyone else.

The real, sustainable money is made by the houses, the exchanges, the brokers, the miners, the arbitragers and the long-term value investors.

Traders are just the guinea pigs turning the wheel.