Topic: Beginners Should Follow These To Be A Good Price Predictor - page 2. (Read 667 times)

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.

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

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.

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.

All your advices is good but in my opinion the best way to predict the future price in the market is to master the market structure. I use indicator as my additional confirmation or confluence so that the probability of my bias will increase. You can't make indicators as your main way to predict the price, it's a little bit laggy and confusing. If you use moving averages in higher time frame, it's difficult to understand, but if you how the market structure works and also if you know how to read candlesticks, it's increases the probability that the price will go to your expected price.

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.

Sometimes it may work, sometimes it won't work and we are not going to end up with a thing that will be forever good, it is going to be different. This is why I believe that the best thing to do in this case would be making sure that it is going to hurt a lot but be careful and have a good stop loss in order to cut the losses short eventually, it should be the case in this situation and we can make a profit when the time comes as well.

It is true that the market sometimes has unpredictable movements and it is hard to predict even for expert traders,
there is no way to guarantee we will be a good predictor,
very much affects the movement of the market and it is difficult.

I also agree that this method of learning from others analysis is better than the other two that is more popular and mostly done by beginners and people who doesn't know how to trade.

• Copy trading
• Trading with signals

I even consider the later more result oriented than the former. I have worked with groups that offer both. The former is so dangerous if you are unable to readjust the bot when the market conditions changes.
But a good trader after watching how the market is moving might decide not to use a particular signal at a particular time.
However, the best is to strife and know your charts, spice it with the knowledge of fundamentals, you are all good.

This could be very effective as well. It's not the typical protected copy or bot trading but having to learn from what is already available. It presents you with learning from a trainer who has done his home work and that offers you some verification processes and the more you get to verify by redoing the process, the more understanding you get on trading.
Better still  this extends to failed analysis as well.

His you get the chance yo fault the process and as well credit analysis that got to make it through to protected.

When it comes to trading there are no guarantees, as not only the market could make an unexpected movement out of nowhere, which was impossible to predict just watching the charts and suddenly you are holding a losing position, but we must also remember that we are not perfect either, so even if you follow a set of regulations in order to diminish the number of mistakes that you make, eventually you are still going to make them anyway, and you need to find a way to solve this once it has happened.

This is a very helpful post for beginners. But I want to add some more things to this as they are important too. Be careful about the leverage you trade with. As a beginner, it is really easy to get carried away with the leverage in hopes of more profits in a short period of time. They do not realize that it also increases the risk of liquidation too.

After this, I will add risk management. Market is volatile and price moves quickly in either direction. This makes the market unpredictable and could lead to huge losses. For this reason, we need to learn risk management. This will help us to reduce the amount of losses we make. Also will help us to carry out our next trade.

Next will be: Stop holding on to one trade. If you are making a loss and the trade will make more in profits if you close it and open a new one, then close it and go for the next. But be sure that you will make a profit by analyzing.

You need to have different strategies. The crypto industry is evolving at a great pace. In order to stay in the front of the race, we need to evolve too. Having more than one strategy is always the best way to predict the market. One strategy may not work all the time. So we need more strategies. Better to mix all the strategies and come up with one that is your own. This will boost your skills.

In addition to that, even if you follow all these factors, that will still not guarantee that you’ll be a good price predictor since the market alone is always unpredictable. Today, it’s price might be on a surge but the next day, suddenly all those prices have start declining. So you’ll never learn to predict the crypto prices easily. If you can’t predict them well, then just learn to adapt with the market changes. With experience, you’ll get used to it and this unpredictable market will never be an issue anymore.

You've obviously spent a lot of time researching this issue, and your points are admirably thorough. But if we examine each facet carefully, we might find new information. It's important that you place so much attention on fundamental analysis. It acts as the cornerstone of comprehending the intrinsic worth of a coin. It's crucial to understand, though, that the crypto market is a fluid one. As you have noted, technical analysis (such as Moving Averages and Chart Analysis) should be used in addition to fundamental analysis.

Beginners should in fact study other people's analysis to improve their abilities. I would advise students to understand the methodology employed rather than merely copying these analyses, though. It is important to recognise the assumptions and constraints that each analytical approach brings with it.

Experience is still the best instructor, therefore the recommendation to practise with practise money is wise. But it's crucial to keep in mind that trading with real money and virtual money has quite different psychological dynamics.

Important points you made include emotion regulation and trend identification. They appear to address the psychological side of trading and technique choice, two distinct but related topics. For clarity, it is important to break these out and provide more detail.

It is true that expert traders also use the tips brought by the OP, however unlike a newbie which needs to remind themselves over and over again to use them, expert traders do so because they have become second nature for them, so they do not have to think about doing their TA, not panicking and using a stop loss as this is something they have been doing for years anyway, since they know the consequences of not following one or several of those steps can be terrible for them and their financial future.

Before investing your valuable money it’s better to inverse more on the background verification on the project.Some fake profile of project owner easily identify and you are from from scam.It’s essential to find the previous chart of last one month before keep of your money.Because after you invest if the bear market survived,it leads to big loss for you as compared to the random trade.When you friends suggest some thing,use their idea to analyse some things about the project.

Knowledge about any token which is selected for investment is necessary and if some coin is selected without having knowledge of potential is very risky. There are lots of coins which become zero in price therefore always make proper decision as decision matters alot.

Remember that not all new projects are successful so always try to first know about the potential and then know about its success otherwise old coins will be best choice for investment as we have full knowledge about it and history shows that how beneficial potential it has. I don't think that investment blindly in unknown coin can make you successful because analysis is fundamental thing in crypto.

I sort agree and disagree with this. Sometimes fear selling saves you lots of money. It's "system 1 thinking" and it's based on your instincts. Sometimes your instincts are right.
Sometimes they are wrong, but usually because when instincts are in conflict with the data we get, we get confused. This could lead to denial and we are afraid to make a move, like a deer frozen when it sees headlights of a car.

I more than once with several coins saw all the signals that we would be near the top, we can see those just by watching holders behavior. But i didn't sell. I sort of wanted to see how much we would fall. When we trust blindly to never ending growth, any talk of bear run at that point seems just like loonie talk. In then too, if i would have just listened to myself better, i would have seen my greed and denial, which would have been useful signals for me to sell.

Some speculate that some platforms allow for the demo accounts to win more and more often as a way to try to make people to make a deposit with real money, and while this could be done by dishonest platforms, I think the real reason why people get better results when they trade with those accounts is that they feel no pressure at all when they trade, so it does not matter at all if they lose as their capital is intact, it is only when those people begin to use their money when they feel the pressure of the markets, make mistakes and then lose their money.

There’s no such thing as perfect price predictor knowing the market is very much volatile and unpredictable. Regardless if you have high experiences in the market, price prediction is still hard to master and I think no one will come to master it as long as the market remains totally unpredictable because of its price fluctuations from time to time. Even if you follow all the factors listed by OP, being a good price predictor is still hard to expect. Just face the reality that in trading, perfect price prediction remains impossible most of the time.

OP is only trying to share his opinion on what he feels beginners need to know to become a successful trader from been a good price predictor. His ideas might help you or it mightn't all depends on how determined we're individually to succeed. Steps to success can't be easy, you have to fight those distraction and remain focused and discipline or you won't be successful. If success was easy then everyone would had been successful.

You mightn't follow every steps the op has written and still be successful everything depends on you. Don't give the excuse if been distracted as others that have succeed at trading also had those distraction but they choose to ignore them therefore you can do the same and be successful.