HOW to translate crypto info/news into decisons?

lobat999

sr. member

Activity: 1078

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Quote from: DimitrisLodirogas on October 24, 2019, 11:55:17 AM

Hey traders!
Anybody else experiencing abundance of information + not knowing how to translate info/news to decisions? Been trading for 6 months now and i don't feel comfortable at all...help appreciated!

Before you act on any kind of information about crypto, be it a news or an article, I suggest you verify the veracity of the information first since most of these type of press releases are directed to influence an opinion especially on a crypto project! Most of these news or info are either a FOMO or a FUD, that we have to do first a background research for verification.

I guess you can only translate info/news into a good decision if it has substance so the trick here is we don't just believe whatever info or news we've encountered unless it is verified for its accuracy and in that way, we could make useful decisions that will guide us in our crypto endeavors. Imho.

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

Quote from: TheUltraElite on October 25, 2019, 04:28:12 AM

Quote from: DimitrisLodirogas on October 24, 2019, 11:55:17 AM

Anybody else experiencing abundance of information

Abundance of info does not mean correct info everytime. I am sorry to tell you that many such "sources" are pump and dump shilling groups to instigate and manipulate the people who join them. Only the owner of that group makes money and the member lose money.

Quote

+ not knowing how to translate info/news to decisions?

You cant expect to do that unless you become an expert at identifying indicators and what they mean.

Quote

Been trading for 6 months now and i don't feel comfortable at all...help appreciated!

You should learn some basics about trading. I would suggest you to visit some stock market trading tutorials. Why stock market? Because the crypto trading tutorials are also filled with BS propaganda promoting some shitcoin.

Unless you learn to become immune to that brainwashing, I would suggest you to stay away for them. Anywhere you see personal opinions being given, ignore them. Do not trust anybody in the market.

Thank you for help! Don't trust anybody in the market sounds like a nice quote on the wall beside the computer.

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

Quote from: tranthidung on October 25, 2019, 07:55:05 AM

To answer OP's question, I want to point out some main purposes of news/ information.

To catch attention of traders, especially newbies
To trigger greediness
To spread FUDs
To trigger panic price actions from traders

There are more purposes of news/information, but note all of above ones, I think wise guys will know how screen raw news/ information and choose pure ones as part of their decision-makings. However, most of traders fall into set-up traps of news and information gave by whales.

Falling into news/info traps will trigger bad, stupid decisions, selling at bottoms, ie.
Ignoring news will help traders keep their capital safe, because sooner or later Bitcoin will do rally and hit its new all time high. If one can not make their good analysis and decisisons, determinantly hold and ignore news/info are better.

Trends when formed don't last for hours or days, so people can live well in the market with trends, without instant, real-time news/ info.

So hodl BTC and trade alts? How sure can we be that BTC surpasses all time high?

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

Quote from: mk4 on October 24, 2019, 12:00:54 PM

It's somewhat pretty simple.

For example. The bitcoin halving is coming, someday on Q2 next year. Hence, supply will drop, and there will be less selling pressure for the miners. Now, because of that, bitcoin might be a good investment in the short-mid term by this event alone. Though of course, there are LOTS of factors to take into account that might make bitcoin's price go the other way instead of upward. Hence, the hard part, deciding your risk:reward ratio. How much should you bet on this news? That's for you to decide.

In the end, each fundamental trader has their own strategies and indicators. And if I found a strategy that works really well that could earn me a lot of money? I guarantee that I won't tell anyone, especially random strangers over the internet.

Thank you for advice. I'll keep digging...what about trading tools? is it worth to seek help at platforms and which ones? With kind regards!

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: Immakillya on October 24, 2019, 05:35:05 PM

It's no brainier. Just buy when positive news came in and sell when negative news came in. Plain and simple. It's up to you how will you interpret or analyze the news. But in trading cryptocurrency, it's just the basic and easiest way to predict the market. Not as accurate as the other method. But still working especially this who are newbies in trading cryptocurrency.

No, I don't think it's as simple as that. You need to make a decision and after that to hold your decision which is the more difficult part because of the volatility of the market and the ingenuity of the market makers... So you don't only need to be smart you need also to be strong (strong hands!).

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

To answer OP's question, I want to point out some main purposes of news/ information.

To catch attention of traders, especially newbies
To trigger greediness
To spread FUDs
To trigger panic price actions from traders

There are more purposes of news/information, but note all of above ones, I think wise guys will know how screen raw news/ information and choose pure ones as part of their decision-makings. However, most of traders fall into set-up traps of news and information gave by whales.

Falling into news/info traps will trigger bad, stupid decisions, selling at bottoms, ie.
Ignoring news will help traders keep their capital safe, because sooner or later Bitcoin will do rally and hit its new all time high. If one can not make their good analysis and decisisons, determinantly hold and ignore news/info are better.

Trends when formed don't last for hours or days, so people can live well in the market with trends, without instant, real-time news/ info.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: DimitrisLodirogas on October 24, 2019, 11:55:17 AM

Anybody else experiencing abundance of information

Abundance of info does not mean correct info everytime. I am sorry to tell you that many such "sources" are pump and dump shilling groups to instigate and manipulate the people who join them. Only the owner of that group makes money and the member lose money.

Quote

+ not knowing how to translate info/news to decisions?

You cant expect to do that unless you become an expert at identifying indicators and what they mean.

Quote

Been trading for 6 months now and i don't feel comfortable at all...help appreciated!

You should learn some basics about trading. I would suggest you to visit some stock market trading tutorials. Why stock market? Because the crypto trading tutorials are also filled with BS propaganda promoting some shitcoin.

Unless you learn to become immune to that brainwashing, I would suggest you to stay away for them. Anywhere you see personal opinions being given, ignore them. Do not trust anybody in the market.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: DimitrisLodirogas on October 24, 2019, 11:55:17 AM

Been trading for 6 months now and i don't feel comfortable at all.

that is perfectly normal and you will probably keep felling that even after a couple of years of trading in this market because it is still very unpredictable at times like bitcoin right now and also if you are trading altcoins then things are even worse because they are always unpredictable due to their heavily manipulated markets.

just try to reduce your risks and always look back and try to analyze the mistakes you made in different trades so that you can figure out where you went wrong and not repeat it in the future.

Immakillya

sr. member

Activity: 560

Merit: 269

It's no brainier. Just buy when positive news came in and sell when negative news came in. Plain and simple. It's up to you how will you interpret or analyze the news. But in trading cryptocurrency, it's just the basic and easiest way to predict the market. Not as accurate as the other method. But still working especially this who are newbies in trading cryptocurrency.

masulum

legendary

Activity: 2324

Merit: 1604

hmph..

Using the news for trading not just how to used to make a decisions. You need more research about similar news from another news. After you are reading some news, then you need to follow some of sales strategy: Why, When, What, when, where and how.

Why: why this news will affected for bitcoin price.
When: when this news will making bitcoin price up or down
What: what the factor that makes this news affected bitcoin price.
When: When you are set buy order and, when you are set sell orders.
How: How many asset you will choose to trade for this news, 40%, 50% or 100%?
Where: where you can read most accurate news source for supporting you FA.

as mjglqw says, following trade suggestion very risky even you are pay for trading signal. Do your own research before buy any crypto. and do with your own risk.

kolonel_x

sr. member

Activity: 1092

Merit: 250

What do you mean by trade news? If so, then I think a lot of trade news on community channels on Google or on this forum also share it, what makes you uncomfortable trading for 6 months without getting information about how to trade?

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

It's somewhat pretty simple.

For example. The bitcoin halving is coming, someday on Q2 next year. Hence, supply will drop, and there will be less selling pressure for the miners. Now, because of that, bitcoin might be a good investment in the short-mid term by this event alone. Though of course, there are LOTS of factors to take into account that might make bitcoin's price go the other way instead of upward. Hence, the hard part, deciding your risk:reward ratio. How much should you bet on this news? That's for you to decide.

In the end, each fundamental trader has their own strategies and indicators. And if I found a strategy that works really well that could earn me a lot of money? I guarantee that I won't tell anyone, especially random strangers over the internet.

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

Hey traders!
Anybody else experiencing abundance of information + not knowing how to translate info/news to decisions? Been trading for 6 months now and i don't feel comfortable at all...help appreciated!

Topic: HOW to translate crypto info/news into decisons? (Read 207 times)