Topic: Do Not Trade By The News, Follow The Price Action - page 8. (Read 19557 times)
Sadly people are doing this continuously! About 2 days ago, TRON CEO Justin Sun just announced that good news is coming for the TRON and BTT and people got panic to buy and it made a 20% pump in TRX price! Where the news is yet to come! This is not the right procedure in trading! If someone follows this, he might get out with a big loss from the trade!
It is easy to get stucked in this trap when you read a particular economic news and tell yourself that it seems likely to make the market go in a certain direction. Once you convinced yourself that what you expect to happen is basically you digging for your account. In the early years of trading, many traders were stuck in the trap of trading in news and focused too much on fundamental analysis.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
Following news isnt a good advise knowing there are almost 50% of the news in the internet is either fake or manipulated. If you could ask an advise on the forum then its better. Guts and hunch can be a secondary desicion maker in this.
Maybe we all agree, one of the things that can affect prices is good news and bad news. However, it would be nice to combine with price action to be more accurate in making decisions.
Many a times news can play an important role to move to market both on positively and negatively. We should see the news source if the news source is perfect then price can drop for bad news and price can be up for good news.
Why? The news was part from fundamental strategy, if we talk about the technical analysis we all know that the prediction it's from the chart & indicator but if the market have manipulation from the price all prediction from the technical analysis will be waste. To be honest, i really like fundamental news than techninal analysis.
It is still good to trade base on what is happening in the actual price. You will only deceive if you believe in any news about in crypto or bitcoin.
Most of the updates is not precise and no true 100%. If you had an idea about technical analysis it is an advantage to take profit in every exchange platform.
Most of the updates is not precise and no true 100%. If you had an idea about technical analysis it is an advantage to take profit in every exchange platform.
I agree with the author of this topic and for my trading experience I want to say that only 10-20% of news can affect the change in prices for cryptocurrencies and then it can even be a common coincidence, I recommend to follow the growth and decline of the exchange rate and put stop-loss!
It is hard to predict the future trade by just relying on market movement because we can't control the emotion and decision of every individual. Everyday news are big help just make sure the source is reliable so i suggest that both the news and market movement will be a great help combination towards trading success.
News in relation to crypto currency market cannot in any way ignore while making a trading decision because news serve as the second option one need to consider before making a trading decision after taking into consideration the technical analysis of the market.
You are right we should follow technical analysis and fundamental analysis and news is a part of fundamental analysis but before taking any news as a consideration we should think what is the source of the news.some of the experiences from trading that I experienced following the news were sometimes very helpful in analyzing the trade that I did. but I have to be sure that the news can be accounted for and from trusted sources.
That's why you should research, don't follow every prediction around you. news is important to know because it also affects the market, but for daytrade focus more on price movements on the chart, you must know the strategies for reading and predictingI agree, someone who conducts daily trading, of course they cannot be influenced by the news, they are only focused on reading market charts in order to be able to benefit and be able to take the right actions when making sales
market charts wont guide you all the time . sometimes they help you to go on wrong directions , resulting for you to loose instead of wining your trades . same as on the news , not all news are legit but even if the news was good that does not also mean that the price can improve afterwards . dont forget that the crypto market is full of manipulators and they will make a bull trap just to earn from inoscent people .
Yes, we need to be very careful with the market situations because we don't know when the prices will increase and when the prices will drop. Only a few potential coins will increase their prices along the good news from their developments. Sometimes charts will not give us a good profit just for our assumption we have to go through with the charts. After investing we need to be very careful with the market situation sell according to your plan otherwise, you will end up in the loss.
Being a wise trader is need in the trading industry because everything can be change in only short period of time but I dont agree with your statement that the chart will not give us a good profit you need to learn how to read chart make you idea when the best time to entry in the market, its also nice yo follow a good news because it will bring a pump up to the coins but over all you need to study the chart, support and resistance.
of course reading market charts in cryptocurrency trading is very necessary because in this way we can set when to decide on sales or purchases to minimize the risk of loss. an experienced trader certainly requires a not too short time to be able to read market price movements so that the actions he takes always make a profit
News in relation to crypto currency market cannot in any way ignore while making a trading decision because news serve as the second option one need to consider before making a trading decision after taking into consideration the technical analysis of the market.
You are right we should follow technical analysis and fundamental analysis and news is a part of fundamental analysis but before taking any news as a consideration we should think what is the source of the news. 
Well, the market always reacts whether it's a good news or a bad one, in a positive way or negative way, so following the news is as important as following the price action. It would help you to take important decisions during trading.
I think you should have a knowledge of both(fundamental and price action).
Having knowledge of both is not going to affect you in a bad way, it is only going to nourish your trading skills.
So, as per me, one should have a knowledge of both.
Having knowledge of both is not going to affect you in a bad way, it is only going to nourish your trading skills.
So, as per me, one should have a knowledge of both.
Yes, we shouldn't consider only the price movement because everyone should follow their developments and updates, sometime the price of a coin will easily pump with the release of their development and their progress will help the coin to increase their value.
To be good into trading it is must to learn and proceed further, I believe technical analysis is the must that one should learn to have success in trading. We'll come across various market fluctuations as well predictions, and with the knowledge we have got it is a must to correlate with the news circulating around and decide. This will give positive impact on the trading.
having skills is the most important if you don't make a news as a reference, however the news is also good to know what is being trending topic at that time so that we as traders can collaborate with the predictions we make on each candle on the chart
To be good into trading it is must to learn and proceed further, I believe technical analysis is the must that one should learn to have success in trading. We'll come across various market fluctuations as well predictions, and with the knowledge we have got it is a must to correlate with the news circulating around and decide. This will give positive impact on the trading.
It is easy to get stucked in this trap when you read a particular economic news and tell yourself that it seems likely to make the market go in a certain direction. Once you convinced yourself that what you expect to happen is basically you digging for your account. In the early years of trading, many traders were stuck in the trap of trading in news and focused too much on fundamental analysis.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
Is a good advice I most confess, but not every trader will have this mindsets, basically I will recommend that one gets to also study how to interpret the charts and as well having a good FA and TA.Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
News in relation to crypto currency market cannot in any way ignore while making a trading decision because news serve as the second option one need to consider before making a trading decision after taking into consideration the technical analysis of the market.
It is easy to get stucked in this trap when you read a particular economic news and tell yourself that it seems likely to make the market go in a certain direction. Once you convinced yourself that what you expect to happen is basically you digging for your account. In the early years of trading, many traders were stuck in the trap of trading in news and focused too much on fundamental analysis.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
Is a good advice I most confess, but not every trader will have this mindsets, basically I will recommend that one gets to also study how to interpret the charts and as well having a good FA and TA. Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
My friend said: buy at bad news and sell at good news
but most people do the opposite because of Fomo
but most people do the opposite because of Fomo
You should trade when there is only a rumor, you should at least put a little amount of money to that cryptocurrency so if the rumor is confirmed as a news then it will create a huge price action. That strategy is one of the most effective strategy in trading cryptocurrency because most of the traders now are vulnerable to news and their emotion is being driven by news so if you are smart on how to take advantage of that then you will be making thousand bucks.
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