Twitter (in this context) is little more than a modern day boiler room - and what you're describing is a well known boiler room scam called 'pump 'n dump'. Sure, you will have some winning trades (possibly a few very profitable ones) using this approach but, in the long run, you will lose money. But don't take my word for it - or anyone else's for that matter. Just remember these comments - and those from mike and FXX etc. - when your account hits the maximum stop loss limit you've set!. . . In terms of misconceptions about indicators i disagree, simply because of the power of social media. You mention prop traders who are taught by a single tutor, well imagine 20000 traders following the same advice of one "pro" trader using one system on Twitter. If everyone's using the same setup, looking at the same chart, then one can deduce that a move via an indicator will have some momentum? In crypto it doesn't take much to swing the needle. And this is why trading in crypto is different.
Social media, especially Twitter, is very powerful indeed.
Beware of what you learn on Twitter. Actually, that also applies here on T2W - I'm not being Twitterist. Traders (if they really are traders) who use Twitter to gain followers rarely have the best interests of the followers in mind. So, question everything and don't accept anything anyone tells you until you have checked it and cross checked it every which way to satisfy yourself that it (i.e. the idea, statement, advice or tip etc.) complements your view of the markets and how they function.I have however recently stopped relying on indicators to solely make decisions, and have concentrated more on support and resistance, candlesticks, volume and price ranges to make entries/exits. This simplified view is helping me to learn quickly. This coupled with the fact that i follow a Twitter trader has accelerated my learning.
I'm a big fan of Renko charts as I find time based charts too misleading. This is especially true for Japanese candlestick analysis a la Steve Nison. But that's just me - most other people get on with candlesticks just fine!Out of curiosity how much TA do you use in your decisions, and out of that proportion what drives you the most?