Do you replay trading Bitcoin market? - page 3.

maxreish

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Quote from: crzy on March 15, 2021, 07:01:15 PM

Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

You mean to analyze the past trend of Bitcoin?

Im a little bit confused as what OP meant by his/her post but at some point I am also thinking that he or she maybe meant for the past trend or chart of bitcoin.
And probably yes, you can replay to see your previous entry of trading if you wanted to step back and if it is for your future improvement.

I actually look for previous bitcoin market to track it's history. If that's what you mean, it is possible that you replay it.

semobo

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

Replaying the market? Are you saying about analyzing past things?

If yes. then yes because that is how technical analysis works which may not be accurate all the time but every financial asset has been analyzed based on the past movements and future developments.

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Quote from: cryptoaddictchie on March 16, 2021, 01:39:43 AM

Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

Actually it helps but for some it may not. As you can see the market trend is different daily, weekly and so on, but we cant deny that there are patterns over the course of those time that it got repeated many times over. Like the cycle of pump and dump in a given particular order. I dont know but that's how we can practice more if we wanna learn the basics of trading. Experience is the best teacher after all.

Scalpers are not too focus on the price history, they are just playing the market within the day and will repeat the same strategy tomorrow so I agree that it will always depend on how you play the market and how you see the trend.

Past trends are very important to Medium to long term trading, they analyze the market based on that and that's very effective for them. Reading the chart is not easy, it takes a lot of time to learn the process but if you're a serious to learn trading, then better to start analyzing the past trend and see how they moved on this market.

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Quote from: cryptoaddictchie on March 16, 2021, 01:39:43 AM

Actually it helps but for some it may not. As you can see the market trend is different daily, weekly and so on, but we cant deny that there are patterns over the course of those time that it got repeated many times over. Like the cycle of pump and dump in a given particular order. I dont know but that's how we can practice more if we wanna learn the basics of trading. Experience is the best teacher after all.

Patterns are only there because we see it. You'd be very surprised I think to give 10 people the same data and same timeframe and then see all the different patterns they can each come up with.

Just because it repeats 10 times doesn't mean it will do so another time, or another 10 more times, or won't repeat again after failing to do so a few times.

Trading is a skill, but also people who do it mostly don't implement those skills:)

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

Actually it helps but for some it may not. As you can see the market trend is different daily, weekly and so on, but we cant deny that there are patterns over the course of those time that it got repeated many times over. Like the cycle of pump and dump in a given particular order. I dont know but that's how we can practice more if we wanna learn the basics of trading. Experience is the best teacher after all.

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Yes, you could tell with different analysis that they are using history as their basis of most Bitcoin movement.
Besides, there is really nothing to rely to since the volatility is too high.
So, scrape everything you could get from the past movements.
You may not get the best accuracy but it's a good start than nothing.

crzy

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

You mean to analyze the past trend of Bitcoin?
If its trading then yes, because that will be your basis for the future trend of the market and how can you analyze if you are just looking at the present candle. Past candlesticks tells you the future trend, so make sure that you know how to analyze the past and use it for your present decision making.

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Replaying or looking back to the market? if that's going to help you improve your analysis then you have to do it. We have different strategies that work perfectly at our own convenience and if that's convenient for you, you have to do it and do yourself a favor.
And once you think that it had helped you then apply it to your current market trades and see if it has improved your trading.

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

You could if you are still a beginner so that you get to learn basics, but eventually you would have to use the live market because there is a lot more in learning how to trade than just making Technical analysis.

You have got to keep your risk management in check and emotions when trading and there's no better way than doing that with real money on a Live trade.

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

Do you mean Backtesting when you are saying "replaying the market"?

If you meant that, Trading view can help you but you need to know how to code your script.
Setup script and do backtesting it on Trading view

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

Replaying means backtesting? Of course we would really need that specially on this unpredictable market then not a specific strategy would really work from time to time when you do make out engagement.

You would really be needing lots of those things until you do able to take grasp on dealing with the market.So obviously the answer to your question would be yes.You would really be needing that and

you will realize that it is really helpful and relevant into your trading career into this market.Trade and trade and continue to find out ways and experience lots of trials and errors.

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

I think you meant to ask if we backtest our strategies against past data? And the answer is obviously yes, it seems you are interested in becoming a trader and you are going to see a lot of strategies that promise the moon, but how to know if the strategies actually work? The only way is to backtest them, test the strategy against the markets and see if it works, if it does not then you discard it but if it does you keep testing it against many other markets, if after all of that it still works then you could have a successful strategy.

However you need to be careful, one of the biggest problems with backtesting your strategy is that you already know what will happen the next days and months, so if you do this by hand then this will influence the results, which is why backtesting is most of the time executed by computers while not looking at the future data.

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Quote from: katrina2 on March 12, 2021, 12:08:29 PM

Is it necessary to practice bitcoin trading by replaying the market?

There is not much context with this post, and I'm not 100% sure that I can answer correctly, but I think you're referring to technical analysis when you say "replaying" the market. Technical analysis is when you look at the charts, which provide a visual "replay" of what has previously happened within a particular market. Example: "BTC/USD kraken", whereas "BTC/USD" is the trading pair, and "Kraken" is the exchange. Technical analysis relies on reading the past of candlesticks moving on a chart.
So, to answer your question regarding "Is it necessary to practice trading by replaying the market?". The answer is yes, replay the market by learning to use technical analysis and observe the past and present, to help make a more rational & logical prediction of the future. Tongue

That's a fundamental part of what it means to be a good trader. Study, study, and study some more, because practice makes perfect.
Also don't forget, always remember to practice you're due diligence!

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Is it necessary to practice bitcoin trading by replaying the market?

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