Beginners Should Follow These To Be A Good Price Predictor

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Quote from: ScamViruS on July 15, 2023, 05:28:26 PM

Exactly If everyone was a perfect trader and could predict the market perfectly, then many big asset managers would not have gone bankrupt. To be successful in the market, the trader must keep control over himself and refrain from overconfident and aggressive decisions.

I've seen many traders who were experienced and doing well, but suddenly the market became volatile and they couldn't control their emotions and made FOMO buys. As a result they exited those trades losing the whole year's profit at that time. So the traders who are making profit throughout the year sometimes cannot win with the market, this means that no trader is perfect and the market can make even an experienced trader suffer huge losses at any time.

I often compare trading to poker, if everyone on the table in which you are sitting is playing perfect poker then no one except the casino makes money, you need a few players which have a lower level than you in order to make any profits, and the markets are the same, if everyone was a perfect trader then no one will be able to make money, traders need those with lower skill than them in order to fill their pockets, and even good traders make mistakes too which helps even better traders and some lucky noobs as well to make profits, then our aim should be to be as consistent as we can be and not an impossible ideal like perfection.

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Quote from: carlfebz2 on July 15, 2023, 04:36:50 PM

Quote from: ScamViruS on July 15, 2023, 03:41:02 PM

Quote from: SirLancelot on July 15, 2023, 01:59:25 PM

Quote from: mirakal on July 13, 2023, 05:15:19 PM

Quote from: ScamViruS on June 30, 2023, 07:24:05 PM

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There's no one would really be called to be a perfect trader no matter how veteran or expert you are, you would really be still able to experience out that kind of shake off whenever this market would be making those
unexpected events or happenings specially if this one talks about fundamentals which is something that it is inevitable and since we are just humans then those reactions would really be just that normal.

Exactly If everyone was a perfect trader and could predict the market perfectly, then many big asset managers would not have gone bankrupt. To be successful in the market, the trader must keep control over himself and refrain from overconfident and aggressive decisions.

I've seen many traders who were experienced and doing well, but suddenly the market became volatile and they couldn't control their emotions and made FOMO buys. As a result they exited those trades losing the whole year's profit at that time. So the traders who are making profit throughout the year sometimes cannot win with the market, this means that no trader is perfect and the market can make even an experienced trader suffer huge losses at any time.

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Quote from: Ziskinberg on July 15, 2023, 05:04:24 PM

Quote from: Distinctin on July 15, 2023, 04:58:00 PM

Following all of these will not guarantee you to perfectly predict the price all the time. Sometimes, the market becomes unpredictable and uncertain so you have to analyze the market well before you can correctly predict how it’s price will gonna be. And let’s just accept the reality that even experts in reading and analyzing the market, can’t actually make a good price prediction always especially that the crypto market itself is hard to predict whether it’s gonna be bearish or bullish.

There is no such perfection but as we gain more market experience, that's possible it increase our chance to right. But as we are talking about newbies, that is certainly impossible - that's the reality. Yes, even they have to follow those tips that OP had mentioned but I'd never think we can see consistency from doing it. However, from time to time, as long as they have the spirit to learn, they can gradually improve it and of course, it will take time. That is why we should never underestimate trading and if we wanted to succeed, then must have to focus on doing it and study all the things needed.

^That is definitely right and I must agree here.
Perfection may indeed be an elusive goal, especially for newcomers in the market. Newbies may find it challenging to achieve consistency right away, and that is the reality they face. Because trading for me should never be underestimated, as it demands a focused approach and comprehensive knowledge of all the necessary aspects. Success in trading comes to those who are willing to put in the effort and study diligently. So, while perfection may be an unattainable goal, continuous learning, and dedicated practice can certainly lead to become your improvement or success.

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Quote from: Distinctin on July 15, 2023, 04:58:00 PM

Following all of these will not guarantee you to perfectly predict the price all the time. Sometimes, the market becomes unpredictable and uncertain so you have to analyze the market well before you can correctly predict how it’s price will gonna be. And let’s just accept the reality that even experts in reading and analyzing the market, can’t actually make a good price prediction always especially that the crypto market itself is hard to predict whether it’s gonna be bearish or bullish.

There is no such perfection but as we gain more market experience, that's possible it increase our chance to right. But as we are talking about newbies, that is certainly impossible - that's the reality. Yes, even they have to follow those tips that OP had mentioned but I'd never think we can see consistency from doing it. However, from time to time, as long as they have the spirit to learn, they can gradually improve it and of course, it will take time. That is why we should never underestimate trading and if we wanted to succeed, then must have to focus on doing it and study all the things needed.

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Following all of these will not guarantee you to perfectly predict the price all the time. Sometimes, the market becomes unpredictable and uncertain so you have to analyze the market well before you can correctly predict how it’s price will gonna be. And let’s just accept the reality that even experts in reading and analyzing the market, can’t actually make a good price prediction always especially that the crypto market itself is hard to predict whether it’s gonna be bearish or bullish.

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Quote from: ScamViruS on July 15, 2023, 03:41:02 PM

Quote from: SirLancelot on July 15, 2023, 01:59:25 PM

Quote from: mirakal on July 13, 2023, 05:15:19 PM

Quote from: ScamViruS on June 30, 2023, 07:24:05 PM

A person cannot become a good predictor even after following all the steps unless he can change himself. So it is not a guarantee that following all the steps will make a good predictor. Self-discipline can make a person successful everywhere, so it is important to be a self-disciplined person to be a good trader, good predictor. Nice try OP, now it's a matter of seeing how one thinks and uses these things.

Price prediction is hard especially to a very volatile and unpredictable market like crypto. You may predict it correctly this time, but in the next days, you need to do a lot of analysis so you can foresee the price again, otherwise you will trade at a wrong timing. However, it’s not just good price prediction that matters, but also how you handle your risk management in trading, and how your behavior and attitudes are when you are trying to trade at a very unpredictable market.

Even the experts can't perfectly time the market all the time, they might make predictions based on research and analysis and get a close call but they wouldn't be able to have a perfect prediction, it happens but it doesn't happen all the time as you said, so one needs to understand that they should take a trade when they think the time is right based on their own research and gut feelings, though I wouldn't recommend going with gut feelings all the time.

True. The market also shakes out the experts, reacting against their analysis. Looking at the market movement in recent times can give some idea of how the market has liquidated the short/long traders. So many times even after doing proper analysis it is not possible to predict the next move of the market. So a trader needs to be aware of various things while doing short term trading. One thing a trader should keep in mind is that if he has funds in his trading account he can catch the next opportunity, because the market creates opportunities again and again, those who take advantage of those opportunities stay in the market. Therefore, since price prediction is so difficult, traders should focus on recharging the market by exercising patience and emotion control, thereby preventing them from making wrong decisions.

There's no one would really be called to be a perfect trader no matter how veteran or expert you are, you would really be still able to experience out that kind of shake off whenever this market would be making those
unexpected events or happenings specially if this one talks about fundamentals which is something that it is inevitable and since we are just humans then those reactions would really be just that normal.

Basing up on whats written on OP then i would definitely preferring on enhancing yourself on this point.
5. Avoid Emotional Trading and Always Follow the Trend :

This had been always be the main problem even if you are already that experienced but once you arent that good when it comes to emotions then you would definitely be able to
changed up on whatever plans you do have earlier because you dont able to tolerate and control up your mind on sticking up into your plans.

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Quote from: SirLancelot on July 15, 2023, 01:59:25 PM

Quote from: mirakal on July 13, 2023, 05:15:19 PM

Quote from: ScamViruS on June 30, 2023, 07:24:05 PM

A person cannot become a good predictor even after following all the steps unless he can change himself. So it is not a guarantee that following all the steps will make a good predictor. Self-discipline can make a person successful everywhere, so it is important to be a self-disciplined person to be a good trader, good predictor. Nice try OP, now it's a matter of seeing how one thinks and uses these things.

Price prediction is hard especially to a very volatile and unpredictable market like crypto. You may predict it correctly this time, but in the next days, you need to do a lot of analysis so you can foresee the price again, otherwise you will trade at a wrong timing. However, it’s not just good price prediction that matters, but also how you handle your risk management in trading, and how your behavior and attitudes are when you are trying to trade at a very unpredictable market.

Even the experts can't perfectly time the market all the time, they might make predictions based on research and analysis and get a close call but they wouldn't be able to have a perfect prediction, it happens but it doesn't happen all the time as you said, so one needs to understand that they should take a trade when they think the time is right based on their own research and gut feelings, though I wouldn't recommend going with gut feelings all the time.

True. The market also shakes out the experts, reacting against their analysis. Looking at the market movement in recent times can give some idea of how the market has liquidated the short/long traders. So many times even after doing proper analysis it is not possible to predict the next move of the market. So a trader needs to be aware of various things while doing short term trading. One thing a trader should keep in mind is that if he has funds in his trading account he can catch the next opportunity, because the market creates opportunities again and again, those who take advantage of those opportunities stay in the market. Therefore, since price prediction is so difficult, traders should focus on recharging the market by exercising patience and emotion control, thereby preventing them from making wrong decisions.

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Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

Crypto Beginners are those who have just started to know or learned a little about Crypto or Trading. That's why it's very crucial time for them as they don't have much experience. But a good start can change his future and a bad start can make him disinterested to Crypto or Bitcoin. So here are some of my advices and I know they have much more to learn.

1. Doing Fundamental Analysis: Fundamental Analysis is used to Determine how much potential a Crypto or Bitcoin is. Also by this Beginners will learn how Bitcoin or a Crypto works and what are the advantages or Disadvantages of Crypto. So to predict price of Bitcoin you should know about it's fundamental and it's potential for the future. It's also important if any new project launched and we are curious about it's potential.

Fundamental Analysis is a must-know for any beginner in trading, keeping abreast with an upcoming news relating to any particular coin is very helpful to determine the likely sentiment of the coin a positive news will trigger a bullish run while a negative news will likely dump the price of that coin, for instance few days ago XRP won a case against SEC and the effect that positive news resulted to a massive pump in the price of XRP therefore entering a buy order immediately after the pronouncement of the case would result to a massive profit earned by the trader so Fundamental news drives the market, thereafter other important knowledge related to trading should also be learn by a newbie.

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Quote from: mirakal on July 13, 2023, 05:15:19 PM

Quote from: ScamViruS on June 30, 2023, 07:24:05 PM

A person cannot become a good predictor even after following all the steps unless he can change himself. So it is not a guarantee that following all the steps will make a good predictor. Self-discipline can make a person successful everywhere, so it is important to be a self-disciplined person to be a good trader, good predictor. Nice try OP, now it's a matter of seeing how one thinks and uses these things.

Price prediction is hard especially to a very volatile and unpredictable market like crypto. You may predict it correctly this time, but in the next days, you need to do a lot of analysis so you can foresee the price again, otherwise you will trade at a wrong timing. However, it’s not just good price prediction that matters, but also how you handle your risk management in trading, and how your behavior and attitudes are when you are trying to trade at a very unpredictable market.

Even the experts can't perfectly time the market all the time, they might make predictions based on research and analysis and get a close call but they wouldn't be able to have a perfect prediction, it happens but it doesn't happen all the time as you said, so one needs to understand that they should take a trade when they think the time is right based on their own research and gut feelings, though I wouldn't recommend going with gut feelings all the time.

Sometimes, it's best to simply DCA when you feel you are in the right range but not sure of the correct time when you wanted to buy a specific asset so that you don't miss out on the opportunity if your prediction doesn't really go the way you wanted it to go, that's a good way to go about it as well.

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Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

5. Avoid Emotional Trading and Always Follow the Trend : Beginners are very poor to control their emotions in crypto trading. Even many experienced traders can't control it. So it should be controlled by practice and patience. Don't go for FOMO(Fear Of Missing Out) buying, avoid FUDs (Fear, Uncertainty And Doubt) and try to know more about Fear and Greed Index. And it's a must to follow the trend because there might be a chance to pump together.

Not only beginners but all others cannot easily control their emotions and because of these emotions they loss good sum of their money instead of making good profit. Some people when loss for the first time starting trading on emotions but they forget the thing that it needs your attention, experience and knowledge which is far better than your emotions while emotions will never make you Rick but become a reason of your failure.

To get rid of this act one should think that if he loss for the first time then what mistakes he did and how to avoid those mistakes for the next time. Learning and practicing will make you able to earn well suited amount; get the profit what you have and always keep your behavior positive like if you loss then try to not repeat that faults and will take better decisions to be successful next time.

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Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

2. Use Moving Avarage and Chart Analysis: Its a must and common way to predict price of Bitcoin and for this you have to know about some indicators and patterns. You can draw support and resistance level in your chart and can predict the price will pump it it hit support zone or can dump a little or be stable in resistance zone. Also Moving Avarage (MA) will simplify your prediction and will notify you about upward trend or a downtrend. The best app to practice technical analysis is TradingView. You can use some useful indicators for free in this app.

Price action reading is also super important in crypto trading. While indicators can be helpful, they're based on historical data and might not always capture the whole picture. By focusing on price action, you can directly observe how buyers and sellers interact, spot patterns, and make informed decisions. It helps you understand market sentiment and anticipate potential price movements. Plus, it's a skill you can apply across different cryptocurrencies, giving you a versatile trading approach. So, don't ignore price action.

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Quote from: SaveOurSea on July 14, 2023, 06:31:26 AM

It's always going to be difficult to build a system where you can trade and make money easily, it is going to be a tough one without a doubt. I am not saying that it is going to be impossible, but no indicator, no steps, there is nothing that you can do in order to get a prediction that is precise all the time.

Well said. For new traders, it is essential to focus on education first. Then you must have a plan; keeping emotions in check, following the market, and practicing patience are also required. Learning about the market you are interested in before jumping into trading is important to avoid mistakes in the initial stages. Start with a small amount of capital to learn the ins and outs of trading and minimize the risks. Keeping emotions in check is critical, as they can cloud judgment and lead to poor decision-making. Following market news and trends will help you adjust your strategy as needed. Don’t panic at all because mistakes are an opportunity to learn and grow as a trader.

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Quote from: awik p on July 14, 2023, 03:03:14 AM

Quote from: lalabotax on July 13, 2023, 05:52:24 PM

Quote from: el kaka22 on July 11, 2023, 01:04:45 PM

It's always going to be difficult to build a system where you can trade and make money easily, it is going to be a tough one without a doubt. I am not saying that it is going to be impossible, but no indicator, no steps, there is nothing that you can do in order to get a prediction that is precise all the time.

Indeed
Because indeed trading crypto is something that is very difficult and complex. So it's just an imagination, especially for newbies if they think it's easy to get money from trading crypto. It's not easy to earn money but it's easier to lose money in this field hahaha

That's why you really have to be really ready when you want to trade, be ready in various ways. Includes knowledge about trading, crypto, and various other knowledge as initial provisions. Then it is also required to have very good and wise emotional control so that we can anticipate various possible discomforts and emotions and panic at certain times. And various other things that affect trading, including how we analyze the market, especially in situations that change drastically.

knowledge is not enough if we do not have experience. by carrying out experience, we will know exactly our weaknesses in the process of becoming a trader. and experience must be real trading, because there a psychology will be formed that many people often complain about, and blame themselves for. actually it's not stupid we can't trade well, but we have to be patient in the process, and everyone's level of mastery is different, that's what we should understand

True because experience there is a process which we have to try it ourselves,
the more experience then we will be more formed,
sometimes many people are impatient with the process which must be passed first.

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Quote from: lalabotax on July 13, 2023, 05:52:24 PM

Quote from: el kaka22 on July 11, 2023, 01:04:45 PM

It's always going to be difficult to build a system where you can trade and make money easily, it is going to be a tough one without a doubt. I am not saying that it is going to be impossible, but no indicator, no steps, there is nothing that you can do in order to get a prediction that is precise all the time.

Indeed
Because indeed trading crypto is something that is very difficult and complex. So it's just an imagination, especially for newbies if they think it's easy to get money from trading crypto. It's not easy to earn money but it's easier to lose money in this field hahaha

That's why you really have to be really ready when you want to trade, be ready in various ways. Includes knowledge about trading, crypto, and various other knowledge as initial provisions. Then it is also required to have very good and wise emotional control so that we can anticipate various possible discomforts and emotions and panic at certain times. And various other things that affect trading, including how we analyze the market, especially in situations that change drastically.

knowledge is not enough if we do not have experience. by carrying out experience, we will know exactly our weaknesses in the process of becoming a trader. and experience must be real trading, because there a psychology will be formed that many people often complain about, and blame themselves for. actually it's not stupid we can't trade well, but we have to be patient in the process, and everyone's level of mastery is different, that's what we should understand

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Quote from: Xampeuu on July 13, 2023, 03:15:33 AM

Quote from: tygeade on July 12, 2023, 10:58:44 PM

Quote from: taufik123 on July 12, 2023, 06:38:39 AM

Indicators are only a tool to make predictions and indicators are not the only ones used.
Various indicators are also combined with Fundamentals so that we will know where the market is going.

Regarding the Time Frame used, the smaller the time frame chosen, the faster the price movement can be seen, and vice versa, the larger the time frame, the slower the price movement will be depending on what time frame you use.

Small time frames are used for fast trading, and large time frames are used for long-term trading.
It is not difficult to understand, just how you use it and how you get used to it.
Reading the movement of the candle will also help in trading, you must remember every candle that forms.

That said, predictions won't be 100% accurate, there will definitely be some mismatches and that's natural.

Smaller time frame should mean that you are about to trade in a smaller time frame as well. That's how it works and that's what it should mean. I believe that we are not going to end up with a bad result if we keep making the same mistake over and over again.

So if you are using small time frame then you should not hold something for too long, if you hold it for too long then it gets out of that small time frames result and gets into a longer time frames result and it could be very different and you could lose some money. I suggest highly to just make sure that you know what you are doing and in order to do that we should be careful and just get out when the time frame goes beyond what we are comfortable holding it for.

There are no indicators that are 100% accurate, and we can anticipate them to reduce losses, by means of cut losses. most pro traders also do it, where they realize that they don't always get profits, but if they experience defeat it is a loss that is measured in taking risks. as in our example using the EMA indicator, when EMA says the trend is up and we determine the buy area, it is not certain that the signal is correct, what happens is for example that the price goes down and penetrates the EMA, then we must be prepared to cut loss in the planned area

Many times even the wisest traders face losses because they cannot predict when the risk is low and when it is high. It is true that no one can ever make a profit with 100% sure, he must suffer a loss, little or little, that is the difference. But it is never possible to profit by following any such signal but there are many wise people who can profit by following candlesticks. But it will definitely be good for the traders if the indicators are used to follow the signals in the market

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Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

3. Learn from others Analysis: In TradingView you will saw many users are sharing their opinions about market prediction. Some of them are predicting pump of Bitcoin and some are predicting down. They have their own research so try to study their chart drawing and analysis. Then learn from the wining predictions and search faults from the losing predictions. That will help you to grow in a effective way.

I think it is optional. We aren't a must to learn other people analysis because we do our own analysis. Learn other analysis may lead us not focus on our own way, people may have a different way to do their analysis. As long as we do own analysis in the right way, I assume it is unnecessary to learn other analysis. It won't help our own analysis much, it may ruin our focus.

Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

4. Experience your knowledge with Demo Trading: Its a good choice for beginners to trade with the demo funds before investing real funds. It will help to find out the faults of your analysis without losing real assets. It will also increase the experience of a trader. Some sites are offering Demo trading like Etoro , Bybit etc.

Demo trading is a feature for a person who have no experience in trading. If it is our first time to trade, we can use this. But if we already trade several times, it is better to use real trading feature but use small funds only. Demo trading won't increase much our experience, it is just fake trading. Grin

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Quote from: el kaka22 on July 11, 2023, 01:04:45 PM

It's always going to be difficult to build a system where you can trade and make money easily, it is going to be a tough one without a doubt. I am not saying that it is going to be impossible, but no indicator, no steps, there is nothing that you can do in order to get a prediction that is precise all the time.

Indeed
Because indeed trading crypto is something that is very difficult and complex. So it's just an imagination, especially for newbies if they think it's easy to get money from trading crypto. It's not easy to earn money but it's easier to lose money in this field hahaha

That's why you really have to be really ready when you want to trade, be ready in various ways. Includes knowledge about trading, crypto, and various other knowledge as initial provisions. Then it is also required to have very good and wise emotional control so that we can anticipate various possible discomforts and emotions and panic at certain times. And various other things that affect trading, including how we analyze the market, especially in situations that change drastically.

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Quote from: ScamViruS on June 30, 2023, 07:24:05 PM

A person cannot become a good predictor even after following all the steps unless he can change himself. So it is not a guarantee that following all the steps will make a good predictor. Self-discipline can make a person successful everywhere, so it is important to be a self-disciplined person to be a good trader, good predictor. Nice try OP, now it's a matter of seeing how one thinks and uses these things.

Price prediction is hard especially to a very volatile and unpredictable market like crypto. You may predict it correctly this time, but in the next days, you need to do a lot of analysis so you can foresee the price again, otherwise you will trade at a wrong timing. However, it’s not just good price prediction that matters, but also how you handle your risk management in trading, and how your behavior and attitudes are when you are trying to trade at a very unpredictable market.

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Quote from: BD Crypto on June 27, 2023, 12:02:45 PM

...But a good start can change his future and a bad start can make him disinterested to Crypto or Bitcoin...

Still, a beginner will not get a good start, even if he has theoretical knowledge. Since the necessary condition for profitable trading, in addition to theoretical knowledge, will be experience, which will be only as a result of practical trading. Therefore, every beginner should know that he will have to lose the first few deposits, but this should not stop him and he should continue to study and apply his knowledge in practice.

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Quote from: jeraldskie11 on July 13, 2023, 11:16:10 AM

I didn't use indicators to predict the price because we can't really predict what will happen to the price in the next hours or days. If we can predict the price in the market through indicators, we're all now profitable. That's why some traders don't use indicators but can still manage to be profitable especially those who are trading forex, most of them are day traders and scalpers but only use price action. Personally, I only used indicator to know what's the trend and anticipate when I see a signal in the market.

The inherent flaw of indicators is that by their nature they can tell you what happened on the past but not what is about to happen on the future, which is what every trader wants to know, so indicators as their name implies can only be used as a guide but never as a source of information with absolute certainty, and good traders understand this and they are flexible with their thinking, and more than anything they prefer to look at all the circumstances which surround a big movement rather than to rely only on their favorite indicators.

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