Charting vs Guessing vs Lucking vs Fundamentaling
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Posted On: 12/19/2017 11:12:34 PM
Charting vs Guessing vs Lucking vs Fundamentaling
..ok, so some of those words are made up.. but is chart reading also a fabrication? Perhaps...'Luck'? Many suspicious doubters use the phrase, "You had a 50/50 chance of being right."
Let's break one example down..and remember.. although many doubters tout I had a 50/50 chance of being right...
...in fact, hindsight is always 20/20 . Its too easy to discredit someone AFTER the fact.
TO THE CHARTS!
https://imgur.com/NBGOaVk
Let's break down this blubbering mess...
Way back on 12/12 I said, "Break .50 cents you doink!"
Ignoring the ' doink ' part, why would i have mentioned .50 cents on the 12th if XRP had never gone higher than .40 cents way back in May? Coincidence? Luck? Why would i think to even mention "50 cents", only for .50 cents to be hit two days later? Luck?
Those who invested based off of charts were buying on the 12th in anticipation of a soon to be EXPECTED run.
One day later, i not only wrote that .50 cents is VERY possible (not just possible) but that there was even a chance .60 would be hit the same week. And as we know, .60 was indeed hit the very next day.
Luck? Time travel? Coincidence?
In fact.. only 8 minutes later.. i said, "ill bet anyone a free Nano Ledger S we'll hit .50 in the next 12 hours or less." (red bubble)
..a few hours later.. .50 cents was indeed hit.
To the chart-doubting fundamentalist.. all of this was fake; made up; 'luck', even just a very extremely lucky 50/50 chance.
But looking at this logically through those fundamental eyes, getting three correct ideas in a row is not 50/50. its not even 40/60.
There is actually only a 0.125% of getting all of this correct..
...and thats assuming the choices were either 'heads' or 'tails' on a coin.
And to those doubting individuals, dont forget.. investing has MANY more possibilities and variables than a simple 2-headed coin!
Less than one hour later, i stated that my own personal charts which i dont share publicly showed .72 as a possibility.
Hours later.. .72 cents hit.
What doubters fail to (or purposely fail to) comprehend is that .72 cents did not HAVE to occur. I could have been wrong. and had i have been wrong, the same doubters would of had a field day exclaiming how charts dont work. Yet because the charts DID in fact work.. four times in a row in a span of only 2 days... its coughed up to 'luck'.
Im personally convinced those who doubt the power of charting, simply doubt because they dont have the skill to interpret a chart and are intimidated by them. It happens all the time throughout history.
Henry Morton thought the light bulb would be a specaculaur failure
Edison despised Nikola Tesla's AC invention because edison knew AC was the wave of the future.
Western Union saw no use for Alexander Graham Bell's telephone patent and turned him down.
The Literary Digest magazine in 1899 stated automobiles were only a fad.
The point here is that although technology changes, human progress is achieved, amazing advancements are reached... human ' nature ' never changes. We may all have smart phones, fast cars, amazing medical insurance, and endless knowledge through the internet..
..but when push comes to shove, people who doubt the power of charts would have gotten along extremely well with Henry Morton.
To those interested in learning how to properly chart, dont listen to the naysayers. Learn everything you can and you will eventually see a direct correlation between your charting skills and profit. When one goes up, so will the other.
..ok, so some of those words are made up.. but is chart reading also a fabrication? Perhaps...'Luck'? Many suspicious doubters use the phrase, "You had a 50/50 chance of being right."
Let's break one example down..and remember.. although many doubters tout I had a 50/50 chance of being right...
...in fact, hindsight is always 20/20 . Its too easy to discredit someone AFTER the fact.
TO THE CHARTS!
https://imgur.com/NBGOaVk
Let's break down this blubbering mess...
Way back on 12/12 I said, "Break .50 cents you doink!"
Ignoring the ' doink ' part, why would i have mentioned .50 cents on the 12th if XRP had never gone higher than .40 cents way back in May? Coincidence? Luck? Why would i think to even mention "50 cents", only for .50 cents to be hit two days later? Luck?
Those who invested based off of charts were buying on the 12th in anticipation of a soon to be EXPECTED run.
One day later, i not only wrote that .50 cents is VERY possible (not just possible) but that there was even a chance .60 would be hit the same week. And as we know, .60 was indeed hit the very next day.
Luck? Time travel? Coincidence?
In fact.. only 8 minutes later.. i said, "ill bet anyone a free Nano Ledger S we'll hit .50 in the next 12 hours or less." (red bubble)
..a few hours later.. .50 cents was indeed hit.
To the chart-doubting fundamentalist.. all of this was fake; made up; 'luck', even just a very extremely lucky 50/50 chance.
But looking at this logically through those fundamental eyes, getting three correct ideas in a row is not 50/50. its not even 40/60.
There is actually only a 0.125% of getting all of this correct..
...and thats assuming the choices were either 'heads' or 'tails' on a coin.
And to those doubting individuals, dont forget.. investing has MANY more possibilities and variables than a simple 2-headed coin!
Less than one hour later, i stated that my own personal charts which i dont share publicly showed .72 as a possibility.
Hours later.. .72 cents hit.
What doubters fail to (or purposely fail to) comprehend is that .72 cents did not HAVE to occur. I could have been wrong. and had i have been wrong, the same doubters would of had a field day exclaiming how charts dont work. Yet because the charts DID in fact work.. four times in a row in a span of only 2 days... its coughed up to 'luck'.
Im personally convinced those who doubt the power of charting, simply doubt because they dont have the skill to interpret a chart and are intimidated by them. It happens all the time throughout history.
Henry Morton thought the light bulb would be a specaculaur failure
Edison despised Nikola Tesla's AC invention because edison knew AC was the wave of the future.
Western Union saw no use for Alexander Graham Bell's telephone patent and turned him down.
The Literary Digest magazine in 1899 stated automobiles were only a fad.
The point here is that although technology changes, human progress is achieved, amazing advancements are reached... human ' nature ' never changes. We may all have smart phones, fast cars, amazing medical insurance, and endless knowledge through the internet..
..but when push comes to shove, people who doubt the power of charts would have gotten along extremely well with Henry Morton.
To those interested in learning how to properly chart, dont listen to the naysayers. Learn everything you can and you will eventually see a direct correlation between your charting skills and profit. When one goes up, so will the other.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
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