Do not follow every market wave - page 6.

Review Master

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Quote from: Ifemini on May 16, 2020, 02:34:58 PM

Quote from: realinks on May 15, 2020, 01:25:57 AM

You are right no doubt but there is something they call FOMO (fear of missing out) that comes into your mind when you are in the market. It might actually never come back to the price you are seeing it.

Fomo is a very big tool that you need to have under control.

All of your thoughts are right but we can't control fomo. Either, we need to understand it because it's not like a TA (Technical Analysis) or FA (Fundamental Analysis). So we always need to cross-check anythings and must be a well-educated about crypto-currency/trading, the news is true or just a fud like you said . Cheesy

Mealea

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What an insight. I love this because it is the reality. We must learn to stick to one in order not to loose out on all. Surely, bear will come and bull will come whichever way we choose to go. So, why don't we just stick to one.

Ifemini

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Quote from: realinks on May 15, 2020, 01:25:57 AM

You are right no doubt but there is something they call FOMO (fear of missing out) that comes into your mind when you are in the market. It might actually never come back to the price you are seeing it.

Neutrally in trading, there is a saying that a token that rises so high in price and value will definitely come back down, perhaps the token can be strong enough to not crash down back.

Even bitcoin went as high as 20,000 and still came down, this is why you cannot just follow every waves and assume, you need to follow the steadiness and steadfastness too. Always do your own research

kindbtc

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Yeah entering daily in hope that market will go in the direction of your trade is not a good idea especially in crypto market where top coins are deflationary in nature so longterm hodl works the best, unnecessary day trading or scalping can put you in a trap and you can miss out on big bullish moves of top coins so stay in the top coins and not fiat.

Ifemini

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There are consequences for every action

Quote from: realinks on May 15, 2020, 01:25:57 AM

You are right no doubt but there is something they call FOMO (fear of missing out) that comes into your mind when you are in the market. It might actually never come back to the price you are seeing it.

Fomo is a very big tool that you need to have under control.
If you understand how the crypto currency market works, and you conduct your research properly, you will usually always have the rumours even before the news come out to fomo or fud others.

Understand the basics of crypto currency trading and fomo or fud would be a thing of the past for you

pikkie

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Quote from: michellee on May 16, 2020, 04:08:57 AM

Quote from: Ifemini on May 14, 2020, 07:30:39 AM

It is wrong if you try to follow every trade wave in the crypto currency market.
It leads to pressure, unnecessary emotional imbalance and fuds.

One thing is constant about crypto currency, either you track all trades, the bulls will come and the bears will come.
Fight a circle of spots and stick to it to not miss out on all.

When you don't have the skills to analyze the market situations, and you follow the trade without any info, then you might not make any profit because, at that time, you will lose your funds shortly. That will make you have an emotional feeling which can make you want to recover the loss by following wherever the market goes without analyzing. You always need to analyze the market before you trade, so you know when the time to enter the market, and you will know how much you should buy.

well, I totally agree with what you say because the current price movement of cryptocurrency in exchange is difficult to predict at least it must be able to control patience and not be easily influenced by any bad news that can make prices fall and as much as possible not to sell at cheap prices from when you bought.

michellee

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Quote from: Ifemini on May 14, 2020, 07:30:39 AM

It is wrong if you try to follow every trade wave in the crypto currency market.
It leads to pressure, unnecessary emotional imbalance and fuds.

One thing is constant about crypto currency, either you track all trades, the bulls will come and the bears will come.
Fight a circle of spots and stick to it to not miss out on all.

When you don't have the skills to analyze the market situations, and you follow the trade without any info, then you might not make any profit because, at that time, you will lose your funds shortly. That will make you have an emotional feeling which can make you want to recover the loss by following wherever the market goes without analyzing. You always need to analyze the market before you trade, so you know when the time to enter the market, and you will know how much you should buy.

TheUltraElite

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So anyway, I applied as a merit source :)

"Every" market wave does not need to be followed. That would be overdoing it. But I cant speak for the day traders though. They have bots developed just to hook on to every new bull wave and ride to before selling, all done by the bots. It is not profitable everytime but the total losses weigh smaller than the total wins.

If some trader feels that trading is taking out too much money and time from their lives then they should stop trading. Eventually they will come to understand the reason why it was so. Most of the time I have seen people cry is because they jumped on the market when it was the incorrect time. This happens when you dont do your chart analysis first and are in a hurry to invest.

pawanjain

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That's really a good advice and this must be followed especially by the newbies since they are the most excited ones in the beginning days and try to catch every wave in order to earn more profits quickly and this is where they tend to do the most mistakes.
Newbies should definitely try experimenting in the beginning days but if you are keeping on losing then take a break and find out what you are doing wrong.
Let a few weeks pass and then try to trade again with a better strategy. This will definitely help you in the long run.
Taking breaks are absolutely necessary.

Mulann2

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I really do not think I have the time to do that, following every market movement will be too stressful to me, my strategy is quite different, o look for a good project, wait for an entry point, buy and hold for a better time to sell, because I can't keep up pursuing the market waves, if you invest in a good project, you don't have to following market all the time, just wait for the right time to sell.

meanwords

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I only have a few rule in buying and selling. Buy when the market is bleeding and sell when the market is getting hyped. I know it is risky but the risk lessen if you know what asset you are dealing with. I still remember when the market bleeds at $5,000, that was the perfect time for holders to buy more Bitcoin. Now look at the price we are currently at. Do not be controlled by FUD and FOMO, just study the market history and the current market, that is how you will profit.

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Quote from: Ifemini on May 14, 2020, 07:30:39 AM

It is wrong if you try to follow every trade wave in the crypto currency market.
It leads to pressure, unnecessary emotional imbalance and fuds.

One thing is constant about crypto currency, either you track all trades, the bulls will come and the bears will come.
Fight a circle of spots and stick to it to not miss out on all.

For me you must draw any possibility take a look on candlestick and know your bias so you are going to stick on it well don't forget the rules profit is profit, don't be greedy, don't chase when the market already on the trend you must wait when the market will pullback before you enter so that the possibility of being lose is lessen.

Mahanton

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Quote from: cytpoway121 on May 15, 2020, 05:57:33 PM

Only newbies would supposed follow market waves all the times.

A very vital factor before considering trading at all is focus, you must learn to have focus and choose a clear way before trading at all.
As a trader, instead of following any wave, why not discover the source of the wave? evaluate the emotions attached to the wave and predict the outcomes easily ?

Learn trading properly, follow the strategy best known to you; ignore market waves

When you are still on a new market or completely noobs when it comes to trading then you will surely have the high chance on following other calls.
You'll soon realize that you are doing the wrong thing or make you regret when you lost up money due to their signals or tips.It would be more worth
if you do trade and decide on your own.It isnt bad to look for others analysis but dont fully rely on it.Just deal with lots of trials and errors
because these are stepping stones to improve yourself.

cytpoway121

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Only newbies would supposed follow market waves all the times.

A very vital factor before considering trading at all is focus, you must learn to have focus and choose a clear way before trading at all.
As a trader, instead of following any wave, why not discover the source of the wave? evaluate the emotions attached to the wave and predict the outcomes easily ?

Learn trading properly, follow the strategy best known to you; ignore market waves

kesmex

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precisely the wave is a sign for us to enter, the wave is always related to trading volume, pay attention to that!,
if the volume suddenly rises it's time to buy, make sure you have studied trading indicators such as reading the RSI, and you will be able to choose the selling point

Review Master

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Quote from: SourLemonX on May 15, 2020, 03:17:42 AM

To do that we need knowledge, experience, and a little luck. In fact, no one can guess 100% accurate but if you have your own technique, reasonable entry and exit times, I believe it is still possible to make a profit this way.

Both knowledge and experience is a must thing for trading , but luck is needed more than Knowledge and experience because of the volatility of the crypto market. If anyone interest to trade altcoin than traders must be more lucky because of the volatility. So every traders need to be more punctual to get the right entry for buying/selling in the markets. Wink

Ozero

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Quote from: Ifemini on May 14, 2020, 07:30:39 AM

It is wrong if you try to follow every trade wave in the crypto currency market.
It leads to pressure, unnecessary emotional imbalance and fuds.

One thing is constant about crypto currency, either you track all trades, the bulls will come and the bears will come.
Fight a circle of spots and stick to it to not miss out on all.

In fact, if we work with cryptocurrency, then we just have to follow the waves of prices in this market. Big waves, like the cryptocurrency market crash in mid-March of this year, must have been used. Whoever bought Bitcoin and other cryptocurrency potential for growth will have a good profit in the future. Even now it’s not too late to do this, because we expect the market to grow in the second half of the year.
Watching smaller price waves is everyone’s right, depending on the availability of time and opportunity.

1Kill

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Why? If you trade several transactions a week, then this is a good strategy.

StatesManG

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Quote from: Ifemini on May 14, 2020, 07:30:39 AM

It is wrong if you try to follow every trade wave in the crypto currency market.
It leads to pressure, unnecessary emotional imbalance and fuds.

One thing is constant about crypto currency, either you track all trades, the bulls will come and the bears will come.
Fight a circle of spots and stick to it to not miss out on all.

can you tell us how to determine which wave we should follow when trading since you think its wrong to go for every wave? I expect your post to be more educational to guide the non-professional traders on how to or which wave to trade.

ethereumhunter

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Quote from: SourLemonX on May 15, 2020, 03:17:42 AM

To do that we need knowledge, experience, and a little luck. In fact, no one can guess 100% accurate but if you have your own technique, reasonable entry and exit times, I believe it is still possible to make a profit this way.

But we can still take the profit although the profit is not too big because as long as we can see the green candle at the market, we can close the trade by taking the profit. Don't be too greedy to chase the bigger profit if we cannot do that because that can lead us to feel the loss in trading. It is enough if we can make a profit because not all traders can make a profit, so we need to grateful when we can do that.

Topic: Do not follow every market wave - page 6. (Read 1532 times)