Topic: Read this if you really want to succeed in trading (Read 155 times)

On the point about avoiding technical indicators that are currently available, how would you avoid them if they were used by most traders in the market to perform technical analysis that is also combined with fundamental analysis.

Will you create your own indicators that are not used by others?
Actually, that's not how you look at it, you need to do research and a strategy that really suits you with the help of the indicators provided, It's just a tool to make predictions based on historical data, not predictions that will absolutely happen.

So like beginners if they don't use the technical indicators that are already available, do they just need to use their feelings without doing any analysis?

Lastly, you say all the points you know about how a good trade is in your opinion, but give a solution to each point that looks quite controversial with the reality that is happening now.

This thread is an example of the rubbish opinions you see around here.


Neither the enlightened person who opened the thread nor any of the other commentators, starting with Oshosondy, have mentioned the obvious::

FEES

If you win $100 it is because someone else has lost more than $100, usually considerably more.

Oh, really? You think so?  It's either you are a trader or just a holder or probably you are doing both. Bitcoin is a volatile asset but its price is less manipulative and the fact that it is volatile makes it uneasy for traders to always be  accurate in predicting the direction. So, saying that one doesn't have to be too good in trading if they are trading just Bitcoin, you are wrong. To actually be successful in trading, you need to be very good bro, you need learn a strategy that works, you need to work on your emotions and you need to stop believing that you can become millionaire in just a couple of months.

Trading is a zero sum game that’s true. However bitcoin always attracts more investors because of its properties and that means if hodl btc long enough, you’ll eventually come out on top. Hodling is a form of trading too. It is just you sell way way way later instead of making trades every day or week.

In the long run there will be more investors interested in btc and that’s why you’ll be making money in a safe and effective way. When you make trades daily, the total money invested in the space don’t change dramatically so that means you are trying to take other people’s money by outsmarting them with your positions. that’s a risky route to take.

Just buy and hodl and you’ll get your guaranteed returns. Stop with the get rich quick mentality, it will take you nowhere.

It is possible to benefit from editing if you have general trading experience and risk tolerance, as far as I know because I have been trading in the past.  Not that I have always benefited, but at different times I have suffered in different ways.  But after some experience and technique I tried to calm myself down, but now I take a rest like gambling with little profit from training.

There are 100s of other factors as well need to be in your favour to make consistent profits from trading which means experiences alone not enough or indicator alone cannot be your saviour. The proper mixture of money management long with disciplined practice of trade plans may get you few chances toward consistent profit making. I mean to say that all experienced  traders cannot be disciplined trader and cannot follow all money management principles. Brain fade may happen to anyone which may lead to losses at any time. So, your experience just another factor for profit making in trading.

The reciprocal also will work if you are able to cut your losses early and able to grow your profits along with trailing stoploss. Overall, theoretically we may have lots of strategies to be profit but real time trading is really a mind game and you cannot be your-planned-trader but you will be a gambler in most critical occasions.

Don't think trading like you have to beat the market to get profit. It's not your task in the market, as it is always here, and you can not beat the market. You only need to beat other people in the same market, where a zero sum game works for everyone in it.

If you can buy dips, accumulate around bottom area, you beat other people who either panic sell or exit the market around bottom when they no longer have patience or belief in future of the market. You can beat other people by taking profit before a bear market comes, but you can be a more absolute winner by holding your bitcoin for a long time, like 2 or 3 market cycles, and beat many people who love trading, taking profit and exit the market then coming back to buy at higher price in a next cycle.

That's it, with Bitcoin, you don't need to be too good at trading or be too actively with trading. Buy, hold and trade it when you need to enter and exit the market are enough.

I was listening to a content about trading, one thing I learned is that, in trading, you don't have to fight the market, fighting the market, they meant, you should not force trades, first you have to learn a strategy, master your entry and exit point, once you do that, you should only take trades when your entry pattern shows up, it might not show up every day, all the time, so when it shows up, that's only when you should take trades. If you start chasing trade, you will lose so much and as well start chasing losses.  When you don't fight the market, you just have to align yourself to position where you can make slim or huge profit pending on the volatility and that's because the money you are making is other people's losses. You don't expect to be accurate all the time too.

You don't need technical indicators to do a good analysis. The chart already gives you all the information you need to avoid pitfalls and spot liquidity. Just try to understand the market movements because these movements make sense, they are not random.

Indicators plays a vital role in trading but that does not mean it should only be your dependency before taking any trade. You should always have other analysis to checkmate before having a go ahead in a trade. Trading is very broad and having to check many analysis before taking a trade is important. Indicators are one of it but personally I don’t put them amongst my tools for analysing the market but it’s also a good tool to use.


Most unsuccessful traders that have been in the trading market for a long time are being used as liquidity and that may be their only problem of not being a profitable trader. They are yet to identify where the actual entry of a trade is and only join a trade earlier than they should and the resultant of it is the person being used as liquidity. Being observant of liquidity is very paramount to the success of a trader and should be considered more often before taking any trade.

As a trader, you can’t be so perfect, you just have to know that things happen and the market may fail to obey some analysis even if they seem to look so true to be obeyed. What matters the most is that your number of winning trades always supersedes that of losing ones.

This is normal to those who know the manipulation; that is why you need to be consistent to know their actions and patterns they do.
I don't think indicators will make you profit; they are just used as a guide, and I don't use most of the indicators; I only use two indicators that work based on my experience.
Even though we see some trap and manipulation for a wider view, you can still notice that it builds some patterns, and these big players can't manipulate the price from time to time since there are lots of big players fighting each other; it is likely a war. That's why you need to learn risk management to avoid losing much in trading; we are just retailers; we must focus on protecting our capital if big players wanted to take down some of us.

If you cannot identify liquidity, you are liquidity. That is a very popular statement amongst traders, and the purpose is to encourage you to be more observant of liquidity sweeps.

Good and experienced traders know how to avoid liquidity sweeps, but new traders will always find themselves in a situation where the market acts in an opposite direction from the direction it is supposed to act, taking them out of the market and then continuing in the direction they expected it to go before it took them out of the market.

You should avoid using technical indicators. Because these indicators are not created with the purpose of making you profit, these indicators are just there to create liquidity.

Avoid TA's? How you would really be that handling out on about the market volatility? You cant really just that make yourself that having that kind of approach because not anytime you will be able to see out that there will be news and sentiments around on which you can be able to make use and to be applied into your analysis. This is why it will really be that recommended that if ever you do have the chance then you will make use both things if possible. TA's arent that shit but rather this will be the most common approach that you will be needing if you are hovering yourself towards this market.

It is really just that you do have some point because when it comes to precision then there's no such thing about 100% accurate and thats why its just right that you should be thinking that technical indicators doesnt give out that sure profits or outcomes. Success isnt something that you can be able to obtain without facing up failures and challenges. You are the ones will be making out such act to achieve out such target or goal but of course it wont really be that easy.

Experience is what that matters most in trading. If you use indicators but you do not have experience in trading, you will lose more often because making profit in trading is not only about indicators. Although the indicators are still very important because it will still help you make good analyses which is their work and not for making profit in trading.

First the first question you need to ask yourself is, where does the money I earn come from, or, where does the money I lose in the financial markets come from.

If you can find the right answer to this question you will be very wary.

If you won $100 on the financial markets, know that someone else lost $100.

If you lose $100, know that someone else won $100.

Because trading is a zero-sum game. The money you keep or lose does not come from central banks, but rather from us individuals. We are the liquidity. And the big players in the market manipulate us as they wish.

People make us believe that the market moves based on supply and demand when this is totally false. On the contrary, the market rises when there are many sellers and Shiites when there are many buyers.

You have to avoid strategies that are popular, because they are the supply and demand, they are the liquidity. And the only purpose of the market is to get out, it is to trap them.

You should avoid using technical indicators. Because these indicators are not created with the purpose of making you profit, these indicators are just there to create liquidity.

If you think like everyone else or if you follow everything you see on the internet you will always lose. Because the movements that the market makes are not random. The market follows liquidity (follow the mass to trap the mass)

In trying to understand the manipulation of financial markets, the most important thing is to know where not to land.

This is what I wanted to share with you guys today, to open your eyes to some characters. Forget all the strategies that are popular guys because these are the strategies that Serve as liquidity to the market .

Ask questions if you have any, I will answer all your concerns.