Topic: I believe everyone should learn basics of TA (Read 203 times)

The solution to that is not TA - it's risk management.

People who go all-in are idiots. There will be some trades you get wrong no matter how good you are. But it's not the end of the world if you practice proper risk management and only stake 1/10th of your stash on each trade. That way, even if you make a mistake, you are still in the game. You'll get rich slowly and steadily.

TA does not neccesarily imply guaranteed profits. A lot of the time TA turns out to be quite far from the truth so in the end you're basically gambling under the guise of some sort of pattern analysis. Don't fool yourself. Look at the fundamentals. Analyze those first and make your move from there.

I did my best trading before I learned about TA. I just looked at the L2 on btce and instinctively bought ltc (which followed btc) during a big crash right when it was turning around and then sold when the bounce started turning around, then rebought when that turnaround was turning around ,etc. I was imagining a ball bouncing around and whenever the ball got still I had to reverse my trade. I made 1000% in 2 weeks just doing this on my phone during lunch, while btc was crashing from 250 to 50. After learning about TA and looking at charts, my profits got 10-100 times slower.

The most useful thing to look at on a chart is volume. You know that lots of volume without much movement is a change in direction.

tip: TA works better during high volume on shorter timeframes, especially 5 and 15 minutes. TA is like the physics of settlement within a larger movement. If you go to larger timeframes then its more unpredictable and events are affecting the price more than TA. I like to make really short trades because theyre easier to predict and because time equals risk.

But what is risk? Now we have a unique conundrum pertaining just to trading bitcoin, using bitcoin exchanges, and being a bitcoin believer. Is risk holding btc or is it holding usd? IT depends whether you are in a bull market or a bear market and how much you trust your exchange.

You must say not about TA. It is all about strategies and risk management. TA is for finding best entry/ exit points

 

once someone was very proud that he had made all necessary analysis and based on it was time to buy ETH, days later had a huge drop in the price of bitcoin that dragged the whole crypto and ETH drop a lot and took time to recover, I thought: I'm glad I did not trade myself based on the guy's information.

In this crypto world the person must be try the news


I agree

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It's good to know, but do not trust much.

TA is fun to learn but doesn’t always apply so for that reason I don’t use it. I bought a stash of bitcoin some years ago & HODL most of it still. I’ve made great profit, profit I thought I’d never see but I’m nowhere near ready to cash in the majority now. I’ve got at least another 2-3 years of HODLING before I can realise my dreams I think.

Buying & HODLING for a sustained period is the best method imo, zoom out & look at a graph of bitcoin’s price increases throughout it’s relatively short lifetime. HODLERS do not lose.

You can't force people to learn something they aren't interested in. We have to accept that the majority of the people are blind gamblers in this market. However, since we're all some sort of an investor/trader, it doesn't hurt to at least be able to understand the first few (basic) principles. It's basically the same with understanding the very basics of Bitcoin since we're all using it. That doesn't mean it will make you be able to 'read' the market, but at least you're putting effort in understanding what active markets in general are. If we look at how accurate (or better said, how NOT accurate) TA has been in the last 12 or so months, then it's safe to say that no one could ever see what kind of bull run we would be going through.

The evidence in favour of technical analysis is pretty weak. It is especially risky in crypto-markets which are unregulated and can be subject to manipulation. I wouldn't want to risk my bitcoins on this basis.

TA isn't the answer to being successful however and not getting slaughtered, some basic logic can pretty much guarantee that in the current market, buy low, sell high and always stop loss. TA is often over lauded and is really not too proven within crypto.

Even if you are a hodler you should know when to buy a coin and when not to. You can double or triple holdings for your coins. I am not a pro trader or anything but I am far from a noob and know when to buy and when not to.
You can make 1000% gains 10 times but you only need to go -100% once to lose it all. Don't margin trade if you don't know what you're ding. There is a guy who went from 3 btc to 200 btc to 0 btc. Pls don't be greedy(Its hard in crypto but you can try).
Remember, bulls make money, bears make money, pigs get slaughtered.