Topic: Do Not Trade By The News, Follow The Price Action - page 5. (Read 19611 times)
News can be a good reference but cannot be consider a trading signal, but there are news that really can have impact on the market specially FUD or fake news which are old strategy used by manipulators. Traders just need to be watchful, research and deep understanding can help you in every market situation.
I can agree that trading according to the news especialy in the social media could be a big mistake. There often appear many false and misleading information that could lead you to the wrong decision. It's always better to watch the behaviour of the market and to use some technical analysis but again only as a info and guidlance, not exact tool that will exactly tell what to do.
Yes, from our previous we have learnt because we should trade according to the market situation and not on the basis of the news. Sometimes the face team will lead the market by spreading false news, we should go through along with the market fluctuation and this will definitely help us to make a profit. Otherwise, we might be stuck with no returns on it.
What am I saying? Price Action trading can make you money, trading fundamentals too can make you money. You can increase your odds by adding both into your toolset.
You have to learn a lot to use that in day to day trading... 90% of newbies will lose a lot of money if they try to trade without any experience.
Can't expect of newbies to learn before they get scammed or lose money on trading.
Don't trade the news.... Follow the price action only. Why not have best of both worlds? Why I agree with OP but I do so to a point. Why do I think so? See below.
Firstly, As far as trading goes, There's is no "ultimate" system that would always bring in profits. Trading price action is just one other tools that should be in every trader's tool box as with indicators and knowledge about drawing tools and TA in general. If there's one thing price action does, It's that it tells a trader what they market is doing and not our opinion or that of others about where the market is heading to.
However, trading fundamentals (aka the news) can give an extra edge. Often times in Crypto, we've seen this happen over and over again. If I recall correctly, There's a popular say in crypto about buying the rumors and selling the news. Trading the news has it own advantages. It's not all bad.
What am I saying? Price Action trading can make you money, trading fundamentals too can make you money. You can increase your odds by adding both into your toolset.
Firstly, As far as trading goes, There's is no "ultimate" system that would always bring in profits. Trading price action is just one other tools that should be in every trader's tool box as with indicators and knowledge about drawing tools and TA in general. If there's one thing price action does, It's that it tells a trader what they market is doing and not our opinion or that of others about where the market is heading to.
However, trading fundamentals (aka the news) can give an extra edge. Often times in Crypto, we've seen this happen over and over again. If I recall correctly, There's a popular say in crypto about buying the rumors and selling the news. Trading the news has it own advantages. It's not all bad.
What am I saying? Price Action trading can make you money, trading fundamentals too can make you money. You can increase your odds by adding both into your toolset.
I can agree that trading according to the news especialy in the social media could be a big mistake. There often appear many false and misleading information that could lead you to the wrong decision. It's always better to watch the behaviour of the market and to use some technical analysis but again only as a info and guidlance, not exact tool that will exactly tell what to do.
I don't believe that the news affect the price, it is already affected before the announcement of the news. These called inside trading, every news is hidden inside the graphics, through TA. We can detect them and take action before the news hit the market. This is why we say buy the rumor and sell the news. Some people got these inside tradings and they tell this around. This is the rumor, some are correct some are not surely.
And the news is not always true, some of them are just scripted and made by someone who needs attention, that is why I preferred going solo most of the time, if my judgment is wrong when I do a Trade then I would only blame myself, it is less frustrating than following somebody's decision in Trading and in the end it didn't go well. I always trust my jurisdiction than others who only knows spreading rumors.
Honestly if you believe in news or in any prediction you are in the wrong way. Because all we know that there are so many fake news specially about crypto price and life existence of every crypto so if you believe on every news you give limit to your self in doing investment. So in my own opinion make your own basis specially if we talk about price.
This is very true and thae market will start to move once people heard any news update regarding the project and the pump and dump will sure start. And this is already happening for a long time which is really affecting the price of the altcoin.
But this is also good because we can know what is happening in the project and there is a movement of the market which is also good in the exchange. Some of the exchanges are looking for an active altcoin and has good volumes.
But this is also good because we can know what is happening in the project and there is a movement of the market which is also good in the exchange. Some of the exchanges are looking for an active altcoin and has good volumes.
on forex they trade in price action and news. but in crypto news is somehow not an indicator for good price nor bad price because there are so much whales on it.
I totally understand your opinion but I think economic news is still a perfect plus point in trading, maybe when you trade it is not as reasonable as theory, trading in technical analysis is practical. and more useful but it is a tool to help you avoid unnecessary mistakes.
In my opinion, I think you should combine these two skills together by selecting the useful news for you. Please follow the price action of the market.
Yes as you are not sure if the person you are taking advice from is going to given you fair advice or not. So better look in your market if the market gives you a sign of high price then you can sell but if the market does not give you any good sign then hold but don’t panic just by listening to wrong or bad news better focus on your skills. In my opinion, I think you should combine these two skills together by selecting the useful news for you. Please follow the price action of the market.
In some other ways, news can give an idea for us to know what is going on into something whether Bitcoin or crypto. In fact, this probably the main reason for pump and dump in different market. Although, the actual price is the realistic things were we can see what is really going on in the market. It is still in our hands if we can able to gain or not.
When it's get to the news it's already late! It's like that when you think about it, when it comes to some journalist, he needs to wrote about it, hype can pass. And we all know what crypto news are and how many of crypto news writers are coming in those position, most of them doesn't have some knowledge, they just copy paste from others, from project announcements, and maybe they add something little. It's better to check orders, support levels, to check what some influencers wrote on social networks, they are more familiar with the market then news writers.
I totally understand your opinion but I think economic news is still a perfect plus point in trading, maybe when you trade it is not as reasonable as theory, trading in technical analysis is practical. and more useful but it is a tool to help you avoid unnecessary mistakes.
In my opinion, I think you should combine these two skills together by selecting the useful news for you. Please follow the price action of the market.
In my opinion, I think you should combine these two skills together by selecting the useful news for you. Please follow the price action of the market.
In some other ways, news can give an idea for us to know what is going on into something whether Bitcoin or crypto. In fact, this probably the main reason for pump and dump in different market. Although, the actual price is the realistic things were we can see what is really going on in the market. It is still in our hands if we can able to gain or not.
Problem with News about Cryptocurrency nowadays is that there are sites that publishes positive news about a project but you will be surprised that they are being paid to provide positive news to make their company look good to the people but still its up to the users who will decide if the news will make a difference in their decision if they will Buy or not. I am not sure if CNN also publishes news that are sponsored. Lately I see them publish news about the price of Bitcoin and people who backs Crytocurrency.
Isn't all news like that really?most of the news is made to raise FOMO or FUD, this will go as planned, usually it is indeed a news ordered directly from the project, and of course the price is more expensive than the cost of press realease.
always be careful choosing news published from well-known sites, because sometimes that's the case.
Yes dont rely on the news, its better to rely in the price because you will actually see the situation if you monitor the price especially in trading. And news is not sure if it is true or false. So better rely on what you feel so that ask success to agod.
Despite the reliability of the news, better depend on some of it.
It is true that you never know what is true nowadays but some news is dependable.
That being said you can make strategies based on the news. You don't need to do that always since the price chart at the end will be the most trustworthy source of market changes.
News about crypto have a good influence to the market. If you make a good use of it, you will soon then be more confident to invest to the coin that you will be supporting.
News is one of the big reason of the pump and dump, whales are smart enough predicting how the general public would react in a certain news and they can do their usual thing which is manipulating the market so people will panic buy or sell.
This is what we called psychological trading, we read the news and understands its possible effect but when the price moves we also have to evaluate carefully if the price is undervalued or overvalued so we can make the right decision, in short, we follow what the whales because they are more successful than a typical traders.
Yes dont rely on the news, its better to rely in the price because you will actually see the situation if you monitor the price especially in trading. And news is not sure if it is true or false. So better rely on what you feel so that ask success to agod.
Despite the reliability of the news, better depend on some of it.
It is true that you never know what is true nowadays but some news is dependable.
That being said you can make strategies based on the news. You don't need to do that always since the price chart at the end will be the most trustworthy source of market changes.
News about crypto have a good influence to the market. If you make a good use of it, you will soon then be more confident to invest to the coin that you will be supporting.
What ever the news rekease everyday about bitcoin or the other altcoins trader have final decision what they do to the coin they have of if they buy or not. News ks only a guide is still depends on them if they follow them or not. If I saw some news I'll make sure I analyze it and make soem research to know if that is legit and make some reseach again if that affect to the price or not because believe it or nor some news did not affect the market even it's bad or good.
News really do affect the prices but not that very huge effect. Trader should be aware of what is really happening, there are such thing as fake news and it scattered everywhere on the internet especially about bitcoin. What I use for me to decide is the news, market history, technical analysis, sentimental analysis and instinct. It helps me a lot on trading especially on high profiled coins. Don't just rely on news it might not be that true.
What ever the news rekease everyday about bitcoin or the other altcoins trader have final decision what they do to the coin they have of if they buy or not. News ks only a guide is still depends on them if they follow them or not. If I saw some news I'll make sure I analyze it and make soem research to know if that is legit and make some reseach again if that affect to the price or not because believe it or nor some news did not affect the market even it's bad or good.
News really do affect the prices but not that very huge effect. Trader should be aware of what is really happening, there are such thing as fake news and it scattered everywhere on the internet especially about bitcoin. What I use for me to decide is the news, market history, technical analysis, sentimental analysis and instinct. It helps me a lot on trading especially on high profiled coins. Don't just rely on news it might not be that true.Yes dont rely on the news, its better to rely in the price because you will actually see the situation if you monitor the price especially in trading. And news is not sure if it is true or false. So better rely on what you feel so that ask success to agod.
Despite the reliability of the news, better depend on some of it.
It is true that you never know what is true nowadays but some news is dependable.
That being said you can make strategies based on the news. You don't need to do that always since the price chart at the end will be the most trustworthy source of market changes.
What ever the news rekease everyday about bitcoin or the other altcoins trader have final decision what they do to the coin they have of if they buy or not. News ks only a guide is still depends on them if they follow them or not. If I saw some news I'll make sure I analyze it and make soem research to know if that is legit and make some reseach again if that affect to the price or not because believe it or nor some news did not affect the market even it's bad or good.
News really do affect the prices but not that very huge effect. Trader should be aware of what is really happening, there are such thing as fake news and it scattered everywhere on the internet especially about bitcoin. What I use for me to decide is the news, market history, technical analysis, sentimental analysis and instinct. It helps me a lot on trading especially on high profiled coins. Don't just rely on news it might not be that true. Jump to: