Ask HN: Looking for traders that use technical analysis

#1

Post by zscoops » Thu, May 23, 2024, 2:48 PM UTC

Hi,

I am working on a no-code strategy-building web app for traders and I am looking for early testers who use technical analysis as part of their decision-making process to provide feedback. Currently, the demo focuses primarily on technical analysis using exponential moving averages, with basic backtesting features.

If you're interested in being part of this early testing phase and helping shape the tool, please send me an email at testers @hellotrader.io or reply here for more details.

Thank you!

Re: Ask HN: Looking for traders that use technical analysis

#2

Post by keernan » Thu, May 23, 2024, 3:19 PM UTC

Public service announcement.

Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on investing; 2) believe in astrology; or 3) selling books or services related to technical trading which is the only way to make money off it it.

I don't believe using Hacker News to advertise a commercial product relating to technical analysis is appropriate.

Re: Ask HN: Looking for traders that use technical analysis

#3

Post by downrightmike » Thu, May 23, 2024, 3:26 PM UTC

Drawing imaginary lines on charts with crayons for dummies? TA seems to mostly be astrology for finance.

Re: Ask HN: Looking for traders that use technical analysis

#4

Post by zscoops » Thu, May 23, 2024, 3:43 PM UTC

keernan wrote: post #2

Public service announcement. Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on inv…

I believe active traders find value in combining both fundamental and technical analysis to make their decisions. I am not trying to start on debate on technical analysis but I think a lot of people are using it, and prices are most likely influenced by people's actions.

This demo focuses on technical analysis but it's just a MVP, and the technical analysis part was the easiest to implement, and I'm trying to validate the UX. The full version of the app will allow users to define strategies that incorporate both technical and fundamental factors.

Thank you for sharing your thoughts.

Re: Ask HN: Looking for traders that use technical analysis

#5

Post by csomar » Thu, May 23, 2024, 3:49 PM UTC

keernan wrote: post #2

Public service announcement. Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on inv…

Technical analysis is very real. The fact that it's abused by scammers mostly targeting retail doesn't make it astrology. I don't disagree with your third point though since most of the TA stuff is available freely online.

Re: Ask HN: Looking for traders that use technical analysis

#6

Post by pillefitz » Thu, May 23, 2024, 4:16 PM UTC

keernan wrote: post #2

Public service announcement. Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on inv…

Technical indicators are the bread and butter of professional traders.

Re: Ask HN: Looking for traders that use technical analysis

#7

Post by metabro » Thu, May 23, 2024, 5:30 PM UTC

downrightmike wrote: post #3

Drawing imaginary lines on charts with crayons for dummies? TA seems to mostly be astrology for finance.

The post isn’t asking our opinions of TA but rather for those that use TA to provide feedback. There’s obviously a market and this provides a product for that market similar to creating an app for astrologers.

Re: Ask HN: Looking for traders that use technical analysis

#8

Post by marcofiset » Thu, May 23, 2024, 7:07 PM UTC

pillefitz wrote: post #6

keernan wrote: post #2

Public service announcement. Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on inv…

Technical indicators are the bread and butter of professional traders.

Of which the vast majority cannot consistently beat index funds.

Re: Ask HN: Looking for traders that use technical analysis

#9

Post by [deleted] » Thu, May 23, 2024, 7:28 PM UTC

keernan wrote: post #2

Public service announcement. Technical trading is the equivalent of using astrology for investments. It is not a science and has been roundly refuted as junk for well over 25 years. If you are thinking about actively trading or, worse, "technical analysis", by definition that strongly suggests you are either: 1) not well versed in investing and should spend some time reading the most publicly recommended tomes on inv…

[deleted]

Re: Ask HN: Looking for traders that use technical analysis

#10

Post by zscoops » Thu, May 23, 2024, 7:33 PM UTC

marcofiset wrote: post #8

pillefitz wrote: post #6

Earlier quoted context omitted.

Technical indicators are the bread and butter of professional traders.

Of which the vast majority cannot consistently beat index funds.

Someone suggested adding a comparison to the backtest results, showing the profit and loss from buying and holding the asset versus the profit and loss from the user-defined strategy. I think this is really interesting to see.

Unfortunately, I don't have data on the performance of professional traders, so I can't say whether most of them beat index funds. If you have any sources, I would love to see them.