It is important to use multiple analysis to trade the market than using a particular tool. Trading requires using tools that can guess accurately the next movement of price. We have technical analysis and fundamental which can be used to predict the next move of the market.
Like the technical side of trading that includes different indicators that can be used to predict price movement. Important indicators has to be used with trendlines to have more chances of buying the direction of price. The market is large so a single tool cannot solve a problem.
Topic: A single trading tool is not enough - page 6. (Read 1072 times)
Perhaps in the event that I go further to utilize others, perhaps exchanging will be better for me, however assuming I should be honest, I have best outcomes when I have been utilizing Billings band and Relative Strength Index. Utilizing pattern line isn't an assurance since it is a predispositions pointer since it is individual based to take a stand.
whatever indicators are used if we can use them well it will generate profits. I think all of this is based on the trader's knowledge of understanding market movements. it is not uncommon for them to experience occasional losses, meaning that the signal presented is wrong, and of course a cutloss must be made, but sometimes after we cut the price the price actually goes up again. Therefore, psychological factors should not be ruled outjust tending to make use just because somebody had recommended it and trying out to read as much as you could.Just make use of indicators that you do understand even on the most
slowest duration or time as long you do make out some sure analysis then this is what counts.
Lots of indicators would be useless if you dont know on how to read it out thats why it will really indeed vary on someones analysis and preference.
For me i used tools only to see which is the respected levels and what are the possibilities of the trend it's either uptrend or downtrend because it depends if i want to do short or long, and after that i rely on the demand and supply and of course support and resistance.
Actually i don't really trust in using tools because sometimes they're not accurate. So after using them just to get idea i will put one tools only in the graph then replace with the trend lines.
Support and resistance are the key indicator in the crypto market. Not that we fail to break them, we do it plenty of times but it just shows you if we are in the normal times or not. In the normal times we go down to the bottom and support allows us to stay above that and we should be fine, but when we are in not so normal times it drops under and you know that you are in some important times.Actually i don't really trust in using tools because sometimes they're not accurate. So after using them just to get idea i will put one tools only in the graph then replace with the trend lines.
Whenever a huge wall breaks and we crash down under that I end up buying after a while and that is almost always a correct time to buy. When it breaks above the resistance it is basically the same thing as well, skyrockets quickly and you could start selling by that time.
Perhaps in the event that I go further to utilize others, perhaps exchanging will be better for me, however assuming I should be honest, I have best outcomes when I have been utilizing Billings band and Relative Strength Index. Utilizing pattern line isn't an assurance since it is a predispositions pointer since it is individual based to take a stand.
whatever indicators are used if we can use them well it will generate profits. I think all of this is based on the trader's knowledge of understanding market movements. it is not uncommon for them to experience occasional losses, meaning that the signal presented is wrong, and of course a cutloss must be made, but sometimes after we cut the price the price actually goes up again. Therefore, psychological factors should not be ruled out 
Perhaps in the event that I go further to utilize others, perhaps exchanging will be better for me, however assuming I should be honest, I have best outcomes when I have been utilizing Billings band and Relative Strength Index. Utilizing pattern line isn't an assurance since it is a predispositions pointer since it is individual based to take a stand.
Each trader, as a rule, relies on some time-tested trading instrument in his trading. We take all additional trading instruments into account only when they confirm the correctness of the decision made based on the main one. And this is the mistake, since each trading instrument should have the same power when making a decision.
That's the thing if has been used correctly as the results are different even though both traders are using the same trading tool. It really matters how develop ourselves doing this as most of the time it won't work the first time. That I suggest seeing failing on the first try can't just say it was not effective anymore, the practice seems needed in using these instruments. That I think focusing on 1-2 trading tools is best as surely we can manage to apply it correctly. and this would involved lots of trial and error and you would find it for yourself on which one does work and which one does not.You would make yourself even way more better
as you do go ahead thats why never stop on discovering things for yourself because learning would really be able to get through experience.
Trading is very risky and that much more if you trade without any basis of your analysis, you will end up losing for sure.
And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
It's important to have any of those tools that will help you trade. And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
Someone who's new to trading having no idea that these exists will really have to take care of his emotion and losses because no one will help him recover those losses but only himself.
That's why it should be a norm for them to be a researcher and get to know those techniques and ideas that are coming from the experienced.
Each trader, as a rule, relies on some time-tested trading instrument in his trading. We take all additional trading instruments into account only when they confirm the correctness of the decision made based on the main one. And this is the mistake, since each trading instrument should have the same power when making a decision.
That's the thing if has been used correctly as the results are different even though both traders are using the same trading tool. It really matters how develop ourselves doing this as most of the time it won't work the first time. That I suggest seeing failing on the first try can't just say it was not effective anymore, the practice seems needed in using these instruments. That I think focusing on 1-2 trading tools is best as surely we can manage to apply it correctly. Trading is very risky and that much more if you trade without any basis of your analysis, you will end up losing for sure.
And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
Trading tools are just one of the many factors that we need to consider in trading. They can surely help analyzing what is going on in the market. But the knowledge of the project itself is also for me have the same importance to consider about. Because without knowledge of the project itself is like trading blindly just by using the graphs, and not understanding the reason of such movements. You can expand your knowledge by knowing the project itself and at the same time evaluate if those trading tools is/are applicable to their current trend.
Each trader, as a rule, relies on some time-tested trading instrument in his trading. We take all additional trading instruments into account only when they confirm the correctness of the decision made based on the main one. And this is the mistake, since each trading instrument should have the same power when making a decision.
Trading is very risky and that much more if you trade without any basis of your analysis, you will end up losing for sure.
And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
And so why these trading tools exist is because traders see this stuff as helpful to them. Let's say not all had function correctly and the results are somewhat disappointing but have to ask ourselves then if we know how to use this tool and been applied correctly and of course, nothing to expect that the results were good.
For some users single trading tool would not be enough but for some traders one tool is enough it depends on how you understand the market and how you understand the uses of the trading tools but I used more than one trading tool to make my trade accurate as possible.
It might work for you, but not to anyone including myself. However combined trading tool usually give you low risk percentages since you're combining each line to make sure your analysis are correct. Also you need to have more work and time spend since you're using many trading tools, you could miss the moment due to lot of work. Personally I only using single or two trading tools only.
Trading tools give low risks;Combined trading tools give lower risks;
And also confusing at times.
When I have a working strategy (I said working, because many strategies doesn't work), I retest it and stick to it until the market renders it useless.
Combining many strategies breed confusion about decision making and financial management.
Bur generally, the higher the tools the greater the chances but the question is how effective is it?
Actually i don't really trust in using tools because sometimes they're not accurate. So after using them just to get idea i will put one tools only in the graph then replace with the trend lines.
For me i used tools only to see which is the respected levels and what are the possibilities of the trend it's either uptrend or downtrend because it depends if i want to do short or long, and after that i rely on the demand and supply and of course support and resistance.
Actually i don't really trust in using tools because sometimes they're not accurate. So after using them just to get idea i will put one tools only in the graph then replace with the trend lines.
Actually i don't really trust in using tools because sometimes they're not accurate. So after using them just to get idea i will put one tools only in the graph then replace with the trend lines.
I don’t really get it 
wouldn’t that be creating a lot of confusion for you if you’re to be making use of several tools while trading in the market? You should select a tool and apply and not have several tools all at once on the chart, how would that even be of help to you?
Anyways, I do believe that a lot of people do things in a different way, since you have been trying that, has it been working for you? What impact have you seen so far in your trading ever sine you started to make use of this strategy? If this strategy is working so well for you, then, I have nothing to say.
wouldn’t that be creating a lot of confusion for you if you’re to be making use of several tools while trading in the market? You should select a tool and apply and not have several tools all at once on the chart, how would that even be of help to you?Anyways, I do believe that a lot of people do things in a different way, since you have been trying that, has it been working for you? What impact have you seen so far in your trading ever sine you started to make use of this strategy? If this strategy is working so well for you, then, I have nothing to say.
Do not forget about reading news. They can be useful indicators too for specific cryptos that you're holding or trading, they set a sign if there's going to be a shorting or if someone has to see that it should set a bullish pattern. Well, nothing beats having multiple tools and indicators in checking out the market.
But for those that don't like to look at the charts or don't know how to do it, there are still other ways just as I've said.
News are always vital in determining the direction of a coin, so it should always be given priority too. However, if you have multiple tools and indicators, that will always give you an edge, but always remember that those are not guarantees to be profitable in trading, having one or two trading indicators are fine as long as they make a huge impact on the movement of the coins in the market. But for those that don't like to look at the charts or don't know how to do it, there are still other ways just as I've said.
To get the best out of any analysis confluence between multiple tools is best because it gives a clear picture of where to possibly set take profit and set a stop loss in case of reversals.
(....)
There are some traders that don't have a lot of tools or indicators while analyzing the chart because it will just make your chart look messy, which I agree with.(....)
But there are some traders who are a fan of it as long as every indicator you are using got used and is not redundant with others.
If non-chart related, other tools like the platform that tracks volume, or inflows to exchange our outflows, like some on-chain analysis or some funding rates trackers for some exchanges. I believe they are useful too as long as you know how to use them.
Using multiple indicators can get someone confused on the market direction. Using trend line is not a guarantee because it is a biase indicator since drawing the line is individual based. For example you can draw up your trend line and the next person draws placing it in a different price. However, support and resistance helps alot. Candlestick on a longtime duration can be used as trend indicator.
If i should analysis a trade the best way to analyze a trade is using candle sticks, because knowing the movement of the candle sticks is what will make a trader to know exactly what and the situation of the market precisely, other indicators is deceitful indecencies that you have not know their rightful one that will bring good productivity..but using the candle sticks for those who read the chart and understand it, is the best option...i think i agreed with your opinion. 
Do not forget about reading news. They can be useful indicators too for specific cryptos that you're holding or trading, they set a sign if there's going to be a shorting or if someone has to see that it should set a bullish pattern. Well, nothing beats having multiple tools and indicators in checking out the market.
But for those that don't like to look at the charts or don't know how to do it, there are still other ways just as I've said.
This is quite important for the crypto world, it is basically what you do in order to get better. I personally believe that if you know what you are doing then you should be making a profit, but if you do not follow news then even if you are a veteran of trading then you will not take advantage of the countless profits you could have made.But for those that don't like to look at the charts or don't know how to do it, there are still other ways just as I've said.
I use cryptopanic which is a crypto news channel where you see all of them and it gives you all the brand new things going on in the crypto world and that means you will be able to react as quickly as anyone else. Definitely a good way to trade if you follow news because crypto gets emotional at all times.
The fundamental factor will just spike the price but when the news cool down the prices goes back to where it was before it. Its good to ride the news though but that is if you can do it in timely manner. Most of the time its the TA that works, this is where you can tell that what goes up will really come down and all you just need is patience to wait for the bottom. Those who speculated it right, makes money and the tools are already given to identify when is the right time to buy and sell.
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