Topic: Do not follow every market wave - page 7. (Read 1546 times)
Similar to a battle, if you have a chance to chose then only chose the one you are more likely to win. Being jump in every market wave has a lot of cons, you will burn out and easily make a mistake. And not every market wave could be a profit if don't have an equivalent in term of fund, skill,...
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.
Agree, Knowledge is a must in this market, without the knowledge, we would not be able to do anything and we would completely fail, and we can never know the reasonable entry and exit time of each transaction. So we need a little luck in this market to get profit 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.
I do not actually think you need some bits of luck because to me in crypto currency trade!; tokens do not pump due to luck, a bull run signifies results after weeks of adding quality to the blockchain.
While a dip can be unlucky because a single mistake by a seller while selling can crash the trade market.
But instead of counting on luck, why not dyor and wait for trends to open up an investment entry for you
At the market where we are all currently into, we cannot determine on which direction the pries of cryptocurrencies would go because of the volatility characteristics that every cryptocurrencies do possess. Trading is a bit combination of believing into your gut feel or instinct as well combined with the presence of luck since no one could ever predict on which direction will the price go. Sometimes observing the price behavior that can be seen on price charts are helpful but sometimes can be a deadly trap because prices are unpredictable. It is really a matter of gut feel and instinct to take the risk when you are trading. No distinct wave can be followed due to volatility.
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.
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.
When I was new in crypto there are several times that I try to follow the market. I panic buy/sell whenever the market goes up and down and have lost a decent amount of money if ever all my losses accumulate due to fomo and fud. Have your own trading discipline, and do not be driven by emotion when trading.
This is the worse thing to do when you join the market hypes expect some loses. These whales are bit greedy, when they feel many have been lured already on their pumping, they will just suddenly hijacked the price and all those who bought on their pumped price will be rekt. Poor investors that are hoping they could at least gain some profits instead incurred negative value on their asset. I am once did also following the hype but it was never good experienced for me cause I lose much money too.
You are right, however.As a trader one has to see new market trends.This is the normal process. Bitcoin and Etherium in particular need to look at market sales & buy.Then the system of the market can be understood.
When I was new in crypto there are several times that I try to follow the market. I panic buy/sell whenever the market goes up and down and have lost a decent amount of money if ever all my losses accumulate due to fomo and fud. Have your own trading discipline, and do not be driven by emotion when trading.
There are 3 types of a trader, type one scalping trader. You just need several minutes most of this trader use TF 15 to to make an analyst. The second type is day trading, most likely this trader only use TF 1 day to entry and take a profit or lose for one day. And third type is swing trader, at least they need one week to close their entry. So which trader are you? Your question will be answered if you know these types and also it is depend on trader itself. If they comfortable to choose become scalping trader they will know every wave that will come and they can will fine of it.
market Waves can be regarded movements in stock price and in consumer behavior. Investors trying to profit from a market trend could be described as "riding a wave." A large. though when considering trend it can be followed. but most time does work well. but if proper analysis is done it can be followed base on basis one have.
This is the strategy of traders, they analyze market when it goes to the right and before next moves happen they open their position (buy or sell) based on probability. If you do not want to trade, then just HODL and pray that everything will be fine in the future.
to do HODL it takes a long time, maybe for beginners to learn to analyze the market first there are many media to learn one of them in this forum or can directly search for it on youtube, many people share knowledge about trading for free My experience is watching the 1h or 4h waves to make judgments about resistance or support lines based on indicators like Fibonaci. Market movements are hard to predict but if you equip yourself with in-depth knowledge on the analysis of trading indicators, you can make an almost accurate decision about the price fluctuations to earn gain a lot of profit when trading on this cryptocurrency market.
The possibilities of rewarding yourself is high if you have good plans and if you are following the right track while trading inside the exchange. If you have good insight and if you will follow strategy that you understand well placing your position and made the right timing expect to earn from this business. It's your keen interest to learn skills that will turned to your advantage.
You need to open a deal only when you understand what the situation is on the market now, when you can predict what the outcome will be. In other cases, this is fraught with loss of funds.
People either get into fomo and try to chase the pumps or thry panic quickly when they see market going down, in noth the cases they end up in loss, so it is about trading psychology more than anything else.
My experience is watching the 1h or 4h waves to make judgments about resistance or support lines based on indicators like Fibonaci. Market movements are hard to predict but if you equip yourself with in-depth knowledge on the analysis of trading indicators, you can make an almost accurate decision about the price fluctuations to earn gain a lot of profit when trading on this cryptocurrency market.
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.
It depends upon individual experience, if you take a look at the market and the daily volume you will understand what is going on. You do not necessarily act on every market movement but there are people who make a call on every movement. You choice what mode of trading you are comfortable with according to your skills, if you are well versed then option trading is where you make the maximum money but the risk level is much higher. It leads to pressure, unnecessary emotional imbalance and fuds.
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.
Even every indicator will give you more pressure so just keep few indicators for your analysis and go with that all the time.If nothing goes on your side then stop trading for a while then you can get mental strength back to tackle the conditions. 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.
Though that recommendation of you is right but there are still people who are really doing the same mistakes over and over.
I've been using a very simple strategy that I know everyone can do if they just believe that the trend for now will not be broken.
For years, I've been buying at dip and sell at peak without looking back, of course I don't want to be greedy.
now you can ask me how did I do that, of course with proper timing based on your own evaluation of the market, and I would say I am not right all the time but as long as I right most of the time, that all matters to me.
I've been using a very simple strategy that I know everyone can do if they just believe that the trend for now will not be broken.
For years, I've been buying at dip and sell at peak without looking back, of course I don't want to be greedy.
now you can ask me how did I do that, of course with proper timing based on your own evaluation of the market, and I would say I am not right all the time but as long as I right most of the time, that all matters to me.
You are absolutely right, trading without pressure helps and also knowing when to sell and when not to sell but issue many do have is, selling and jumping for the second move, it may work for sometime but 80% of second trading of same coins ends up being lost. So it's best to trade confidently and know the exact time to sell off and tokens to buy. Coodinate self while trading.
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