Topic: Psychological Analysis for trading Crypto - page 2. (Read 604 times)
Whatever type of analysis you're doing, don't base your entire trade off of that because TA and psychological analysis is just something that gives you an edge and something to help you make a decision while trading. You should also be adding your own thoughts into trades. Nothing's going to always give you an exact target price, but TA gives you something to work with at the least so that you can plan out points to take profit, where to set stoplosses and such.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I think psychological analysis will help us to make better decision to reach our goals because we can think about the positive and negative that we might get if we decide one thing. But that depends on the person because I don't think that every people can decide with easily to something. Maybe they need to know many things before they can decide. So it will help us to decide to the better in the current situations, and we can solve every problem we had.
Technical analysis, Fundamental analysis and Sentiment analysis are some types of analysis which works well in Forex and Stock market.
But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may give us better profits.
The fundamental, technical and sentimental analysis worked well and it is human's emotions and feeling that has a problem. I have been using some combination of moving average cross with volume indicators to trade USD/BTC and it works accurately and the reasons why I lose is not about the indicators but my greed and fears. Sometimes out of greed I jumped into the market too early or go in too late but if you follow all the indicators especially the technical indicators such as candlestick, moving average, Fibonacci retracement, pivot point, macd and Relatively strength index you will find out that you will make good profits. But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may give us better profits.
Technical analysis, Fundamental analysis and Sentiment analysis are some types of analysis which works well in Forex and Stock market.
But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
It is possible but there are at least two issues with this, the first is who do you think gets to know the news even before they are published? The whales of course, which means that by the time you try to take advantage of the news the move may be over already, and second how will you know in which direction a particular news will move the market and how much it will? Lets suppose that Google plans to release its own coin, is this bullish or bearish? And regardless of the direction how big the movement will be? 1k, 2k, 5k or it will be even bigger than that?But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
Lets take your scenario, if Google releases it's own cryptocurrency then there will be some people who would think it's a good news that Google is getting engaged with crypto thus buying more coins.
But there will also be some people who would think if Google releases it's own coin then it might be a threat to bitcoin meaning it might result in bitcoin going down thus selling their coins.
So I guess Psychological analysis wouldn't help in such cases at all.
Psychological Analysis is quite deeper than of a simple market understanding or we just do the basic things. Traders must importantly know about analysis, dig deeper for more understanding and create our own TA's. This will help us to become more profitable than casual traders but of course, we need to consider also the market situation as a basis of our TA's for it become applicable or gonna help nothing.
If you developed a TA that help you understand the price action? You have gold in your hand. Instead of mining bitcoin, you will be getting it through trading. Technical indicators such as candlestick do bring into clear view of the position of the market situations. 
Technical analysis, Fundamental analysis and Sentiment analysis are some types of analysis which works well in Forex and Stock market.
But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
I think psychological analysis is needed to make a decision, although currently psychological analysis does not have a big effect but maybe it can be used as one of the things that must be applied in us. but the biggest contributor to decision making is good market conditions and self-confidence. But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
It seems to me that each of these analyses can have some impact on the market. But it is always necessary to apply them together. Do not rely only on technical or only on fundamental analysis. Because you need to see the big picture.
in my opinion basically in the same market. forex or cryptocurrency, can use technical or fundamental analysis that is technically the same. but the analysis that most determines success is psychological analysis. psychological analysis holds 80% of trading, despite having a good technical analysis, but can not control emotions, I think just waiting for regret
If we are to carry out trading survey right now, you may find out that majority of people who trades only base their trade on psychological analysis, which makes their trade sometimes look like they are making a gamble with it. Those who trade with psychology are not different from those who gamble because if you look at their life, they only use their mind to predict numbers and not strategy because the game itself is not a strategy game. Not that we should not apply psychology, we can work on all the three to make a better trading experience. Trade without Technical Analysis and Fundamental Analysis is just null and void. Technical can actually be difficult for some people thou, but better we just learn it if we really want to trade.
Psychological Analysis is quite deeper than of a simple market understanding or we just do the basic things. Traders must importantly know about analysis, dig deeper for more understanding and create our own TA's. This will help us to become more profitable than casual traders but of course, we need to consider also the market situation as a basis of our TA's for it become applicable or gonna help nothing.
I think as most effective as the fundamental, sentimental, technical, etc analysis, so are psychological and emotional balance in other to become a successful trader. Many traders who suffer severe losses during trading actually lacks emotional and psychological balance.
It seems to me that each of these analyses can have some impact on the market. But it is always necessary to apply them together. Do not rely only on technical or only on fundamental analysis. Because you need to see the big picture.
Focusing on one advice from the analysis given, couldn't provide you an assurance to get the best formula needed to acquire best reference. Always listen to those mentors and other expert traders who really can handle crucial tradings. If you think you can do it all alone, don't use huge amounts in trading just for a test of your capabilities.
It does not IMO for crypto traders do not work/react collectively even if a huge news comes out in the open, though on some occasions news can move prices in a substantial way. In my years with playing crypto, I've seen the market evolve and display a somewhat similar behavior to stock markets. Although it still retains its sheer unpredictability for the most part, having some traditional stock traders move into the crypto scene helped shape the environment that we have right now. Psychological analysis won't work in a large scale for the crypto market, but perhaps TA and fundamental analysis soon would, given that more and more stock traders are also tossing and turning crypto.
The main issue with this question is that the assumptions you are making are too broad.
"Technical Analysis" for example covers such a broad spectrum of indicators, methodologies and theories that to make a general sweeping statement like "it works" or "does not work" for crypto currencies would be utterly absurd.
I can guarantee you, however, if you pick only very few technical indicators, then study, upgrade and fine tune them to complement your own understanding of and approaches to trading, you would greatly increase your chances of profitability in crypto trading as well.
"Technical Analysis" for example covers such a broad spectrum of indicators, methodologies and theories that to make a general sweeping statement like "it works" or "does not work" for crypto currencies would be utterly absurd.
I can guarantee you, however, if you pick only very few technical indicators, then study, upgrade and fine tune them to complement your own understanding of and approaches to trading, you would greatly increase your chances of profitability in crypto trading as well.
You need both for a better trading career. You have two enemies in trading. One is what you are dealing on the outside which is the technical analysis and what you are dealing inside which is the psychological analysis. In ordrr to have greater strategies, strengthen your mindset and your knowledge on the field.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
The psychology of ourselves is important first. If we can build a psychology that can help us control our emotions in the market then we can begin to understand the general psychology of the market. But, even most times, whatever whatever is called psychology of the market can deceive people in taking decision.
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
Relying on news, event and people's emotion to place a trade order can be very risky. Sometimes, some news could be positive but actually doing the negative.
Technical analysis, Fundamental analysis and Sentiment analysis are some types of analysis which works well in Forex and Stock market.
But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
in sometimes the psychological analysis are also helping to make the decision to be properly but it will not necessary but some people trusted this kind of analysis also helpful for them so there is no problem with that if you also want to make the psychological analysis then there is no problem with that. But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
in my opinion basically in the same market. forex or cryptocurrency, can use technical or fundamental analysis that is technically the same. but the analysis that most determines success is psychological analysis. psychological analysis holds 80% of trading, despite having a good technical analysis, but can not control emotions, I think just waiting for regret
Technical analysis, Fundamental analysis and Sentiment analysis are some types of analysis which works well in Forex and Stock market.
But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
It is possible but there are at least two issues with this, the first is who do you think gets to know the news even before they are published? The whales of course, which means that by the time you try to take advantage of the news the move may be over already, and second how will you know in which direction a particular news will move the market and how much it will? Lets suppose that Google plans to release its own coin, is this bullish or bearish? And regardless of the direction how big the movement will be? 1k, 2k, 5k or it will be even bigger than that?But none of these works well and in sync with the crypto market. Is there even a single type of analysis which can give if not accurate then at least a near target price ?
Most of the times the market plays against us which indulges us in bearing losses.
Do you guys think Psychological analysis can help us in making better decisions and setting better targets?
Predicting the price as per the news and events in the market and how people react to it could may be give us better profits.
Lets take your scenario, if Google releases it's own cryptocurrency then there will be some people who would think it's a good news that Google is getting engaged with crypto thus buying more coins.
But there will also be some people who would think if Google releases it's own coin then it might be a threat to bitcoin meaning it might result in bitcoin going down thus selling their coins.
So I guess Psychological analysis wouldn't help in such cases at all.
imagine that you spend hours analyzing the altcoin X chart and while you are analyzing the altcoin X chart, other people are following the altcoin X thread, twitter, discord and telegram. the altcoin X dev say in the thread, twitter , discord and telegram that your altcoin X will make a great partnership and the next minute the altcoin X has a big pump. this is how the crypto market works. all the person should do is follow the news on:
- news channels
- telegram, discord, twitter and Bitcointalk
- news channels
- telegram, discord, twitter and Bitcointalk
I only know of 2 trading strategies, which are technical analysis and fundamental analysis, I have been used to these two since the time I started trading Forex and I thought I was a master of it then, until I joined cryptocurrency traders, and I must really confess to you, it seems like these two are not working for cryptocurrency market at all and I fee those who claim it has been working and just using psychology with it.
I even feel that trade most traders here are just simply relying more on that psychological analyses than technical analysis because there is too much of volatility in this market for anyone to use both the TA and FA to predict the market accurately, and don’t forget that crypto market is also a speculative market, which makes it very difficult to make an accurate prediction through these strategies.
I even feel that trade most traders here are just simply relying more on that psychological analyses than technical analysis because there is too much of volatility in this market for anyone to use both the TA and FA to predict the market accurately, and don’t forget that crypto market is also a speculative market, which makes it very difficult to make an accurate prediction through these strategies.
Jump to: