technical analysis is enough to be successful in trading ???? - page 2.

slaman29

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Quote from: Maslate on July 14, 2019, 07:16:34 PM

Well, considering TA's is just a guide and something a thing to look at but relying alone upon TA isn't good at all. We know its market behavior and can't think that the market will have a steady flowing trend that TA's will be right all the time. It is our self to adjust from how the market works and changing our trading strategies will work well otherwise, we are just hanging on the train.

I'm not a big fan of TA when it comes to prediction. I can say that I enjoy looking at them a lot and reading them and most of my time reading trading news is TA anyway but that is always just looking at patterns of the past and understanding that especially in crypto/Bitcoin you can't really apply TA until the market is more mature, which will take many more years.

EdvinZ

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Qualitative technical analysis in trading should certainly be the foundation for the trader’s adoption of trading strategies. However, other components of successful trading are also important, such as: 1) risk diversification. 2) psychological composure. 3) general strong trends in the market. 4) intuition. 5) strict adherence to the previously selected trading strategy. Only a combination of these factors can lead to success.

MonsterV

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Technical analysis is just the basics of trading like learning how to read and write in schools. You need to know this first before learning the next step like reading data and charts, deciding what coin should be bought or sold and what will be your strategy in order to profit more. This isnt enough but its a good thing if you already know this before starting real trading.

Learning through videos and books I think it's still a basic lesson in trading. The most valuable lesson in my opinion is experience, yes experience, trading does not require a lot of theory but experience. When we have a lot of experience, our trading skills will also increase. Videos and books are a theory that must be developed and it produces extraordinary experiences, the more hours you fly, the more knowledge our get.

Maslate

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Quote from: ivankoh on July 14, 2019, 06:12:41 PM

Technical analysis is only a necessary factor but not enough to successfully trade in the cryptocurrency market. For myself to successfully trade in this market, it is necessary to capture the trend, make timely decisions and ultimately use technical analysis to determine appropriate buying and selling points. That's the way I've used it in this market for a long time.

Well, considering TA's is just a guide and something a thing to look at but relying alone upon TA isn't good at all. We know its market behavior and can't think that the market will have a steady flowing trend that TA's will be right all the time. It is our self to adjust from how the market works and changing our trading strategies will work well otherwise, we are just hanging on the train.

ivankoh

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Technical analysis is only a necessary factor but not enough to successfully trade in the cryptocurrency market. For myself to successfully trade in this market, it is necessary to capture the trend, make timely decisions and ultimately use technical analysis to determine appropriate buying and selling points. That's the way I've used it in this market for a long time.

BuxCoin

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i learnt technical analysis first and if doing short term and day trading technical analysis is must and enough , but getting more knowledge is market is also necessary if we want to survive and be confident in whats going on , and after having experience , as everyone say there is no end to learning , learning of more concepts is good

traderethereum

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I think technical analysis is enough to learn for new people, but they need to learn more about trading like, for example, how to analyze the chart to get the right price to enter the trading.
You will need that if you want to become a successful person in trading and there is no exact time when you can master the analysis.
The important thing is you want to learn, you can to apply what you learn, you can continue to try to practice to get a profit.

Marnihughes82

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I think your friend is right. In new markets like crypto, we rely heavily on the psychology, the fomo of the crowd, and especially the news and trends that are taking place. We should not apply too much technical analysis, although it also supports very well in trading

Nunoluck

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Quote from: Cryptomist12 on April 10, 2019, 01:18:56 AM

I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors please mention , and if of you know books where I can learn those please mention book name thanks

Technical analysis is only a graphical analysis of coin price movements, so traders can predict the price trends, determination of the support-resistance line, reversal and forcasting. But you need to do fundamental analysis so you can know the fair value of the coin. By using those analysis so you can know where is the good position to buy, sell or wait and see. After that you can apply your trading plan.

EXtremeAEX

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Quote from: Cryptomist12 on April 10, 2019, 01:18:56 AM

I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors please mention , and if of you know books where I can learn those please mention book name thanks

Also try to trade using candlestick analysis. There are situations when the market situation is uncertain, candlestick analysis can often help in such moments.
Make a plan before buying any coins.
You should also understand that no books will teach you psychological moments. Only your own work on yourself. Notice your mistakes, admit them, draw the right conclusions and act according to them.

zergenyt09

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Quote from: Cryptomist12 on April 10, 2019, 01:18:56 AM

I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors please mention , and if of you know books where I can learn those please mention book name thanks

Technical analysis is good but not hundred percent what will make you win all the time. Yes it can be helpful cause there are times you will be able to get close to accurate prediction of what the market is going to be in future. But just because you know technical analysis doesn’t mean that you are now going to be winning every trade you put your money in. If it works like that, then there are lots of people that are very good in that and they should have become millionaires overnight. I don’t know if you do follow some predictions that some experts do, you will see that it is not always accurate. Most of the times they are wrong, and when it’s right, it’s not 100% right.

Bunsomjelican

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Technical analysis is not enough to say for you to become successful traders in this business industry.
There are lot of things to consider before we achieve that, and there are many tools for us to get it, and of those are
learn first through, video tutorial about in crypto trading, know the top exchange that has a great volume in the market
and you can also as here in the forum in trading discussion.

Altero

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Quote from: ?? on ??

Quote from: Cryptomist12 on April 10, 2019, 01:18:56 AM

I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors please mention , and if of you know books where I can learn those please mention book name thanks

TA only make you get some grasp of the market , so ofc its not free money once you do TA , you can have 10 diffrent analysis on the same stock using diffrent time frames and get diffrent reasons why to buy or sell.

TA's have roles to play but ain't enough for the trader to become successful, will strategies have a big part for it.
Actually, TA's will just be a guide when to buy and when to sell and the most important is, we might be able to read the chart or to adopt and understand the current flows otherwise, our TA's will having no sense at all.

Arkham Knight

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It's just a signal that tells you on what is possible to happen so to me it's not. For me, what my experience has thought me is that just always buy at the bottom and sell on its high. I know that no one knows where is the bottom but it is always an opportunity to buy it cheaper. Those ta are mostly used by traders to hype and sell the news.

Jeffery Roberts

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Yayyy!! Agreed

Ncash Daily chart below the lower Bollinger band and RSI at near oversold zone good level to enter. (not investment advice.DYOR)

kennen1113

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Technical analysis is not enough for the market of digital assets, it is very unpredictable for forecasting the direction, as I have been buying different cryptocurrencies for three years and they behave sometimes very strange

It is certainly not enough because with this one tool, you can only get a certain sense of security, and as you say, trends and movements in this market are very strange, no one dare to assert anything, a tool is too little, we need more than that. And so, success cannot be stopped by technical analysis, we need to analyze the market, analyze people's psychology, then analyze the emerging news in the market, many trading analyzes, we will have a better success rate

CucakRowo

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aka JAGEND.

I've been trading in crypto for almost 1 year. And frankly, i haven't understood the crypto market psychology.
Answering your question about technical analysis. Yes, I only rely on technical analysis when i do forex trading. I've been doing forex trading for almost 4 years (September 2015). Since 2 years ago, around August 2017, all of my income came from forex trading.

Ofc, when you do trading in forex (and i think in all trading activity), beside using technical analysis strategy, you also need to learn one important strategy which is called money management.

I also use money management for doing trading in crypto. But tbh, i still don't know why when i use ONLY technical analysis in crypto trading, sometimes it is not working. (except for stable coins such BTC, LTC, DOGE, BNB, Dash, ETH and etc).

Based on the observations I made, maybe I can categorize (in percentage) about fundamental analysis (FA), sentiment (S) and technical analysis (TA) as follows:
(Please remember, this category percentage based on my observations. and of course, you may disagree with my opinion.)

FOREX

40%
Fundamental

alendel0n7

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I understand the skeptics who speak out against technical analysis. Nevertheless, he has a place to be. You just need to use it without too much fanaticism. By technical analysis, you can clearly see the behavior of prices in the tape.

MoonCrypt

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Learn and Grow

Quote from: Bitcoin_Arena on April 10, 2019, 03:27:16 AM

Obviously Technical Analysis alone won't help you to a successful trade. It has to be a combination with other factors such as Risk management and those you have mentioned
I have been using TA for sometime now since late march this year (it's the time I decided to do serious trading and I have) and i have made something like 32% profit though i haven't been consistently trading daily yet. I think i would have made more if I was trading full time.
Quite very effective if you are willing to taking small profits per trade and not be so greedy.

I agree with you 100%

whyrqa-1

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If we talk about negative news, then it is always a bad influence on the pricing of different coins. But first of all you need to look at the chart of sales and purchases of a particular coin, as well as the state of capitalization and its changes, which will really affect the future price.

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