technical analysis is enough to be successful in trading ???? - page 7.

princerepon

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Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

I'm not a good trader but yes of course i totally agree with you that technical analysis is not enough for trading. There is many things are working individually for crypto trade that we don't know. With technical analysis you can trade normally but it's too risky for lose money. Cause sometimes market do not run with technically. So read news paper, watch popular video for crypto and keep analysis for crypto no matter what is that.

shimbark123

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Technical Analysis is just a precautionary measures if the coin will pump or not. Coins in cryptocurrency depends on the news of it. What if you TA'd a coin that is experiencing a doubt from the public and you TA'd that, it will pump in no time. But it dropped since of bad news from the public's disbelief, then it is not enough.

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Quote from: Mpamaegbu on April 14, 2019, 02:32:27 AM

News is what you lack if you truly have taken care of TA and the psychology of trading. News is FA - Fundamental Analysis. This is very important in trading (generally, business) because news help push the TA to achieve a target. To be successful, one has to know what news emanate around the business one is into.

Though technical analysis and fundamental analyses both are very important in trading and business and particularly in crypto, it is not enough. There is a concept of low initial cost of investment that should be kept in mind. If you invest in dip, you can hodl later on and do the TA and FA to see and decide when you should cash out and make a withdrawal decision.

guoyu78

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Quote from: ginobitcoiner on April 13, 2019, 11:36:54 AM

analytical techniques are indeed one of the major supports in the successful trading of crypto currencies, but courage and confidence in decision making are also very necessary in the success of a trade.

But those don’t tell whether you’re going to win or not. But you’re still right, cause everything here is all about being ready to take the risk. There’s no law that say you must win when you follow those, but those are the risks you should be ready to take if you want to achieve something here.

I’m seeing some people mentioning risk management. Well, that is right, but you do know that you can’t manage your risk properly without technical analysis. You will have to do some research before you know where the market is heading to and how to manage everything you have. But sadly, when it comes to crypto trading, technical is not always accurate, majority they fail because crypto is mainly unpredictable.

mornabo

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Quote from: Finestream on April 14, 2019, 06:40:52 PM

Quote from: vicoma on April 14, 2019, 12:10:20 PM

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

I think the best way to be a successful trader is based on the varied experiences we have.The more experiences we gained in trading,the higher the chances that we can be more successful and even more profitable at the end of the day.Technical analysis will only be worth it if you also trade with your skills and strategies learned in trading.

Its true, it will be useless if you do technical analysis but you don't have more skills and extensive knowledge about market, your technical analysis won't work well, Great technical analysis is made by good skills, and a lot of experience. that's important

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Quote from: emberbekas on April 14, 2019, 11:49:45 PM

Quote from: vicoma on April 14, 2019, 12:10:20 PM

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

Whether we realized or not, fundamental things will usually contribute to the traders decision. And yes, technical analysis will be good if we combine it with fundamental analysis because to my knowledge, fundamentals will usually cause fluctuations with a good range.

I am sure that technical analysis will good if we can master the skills of analyzing the market so we could know what we need to do related to the market itself. The fundamental analysis will also help us to determine what is going on with the market and that both analysis will show to us how to preventing from getting a lose.

GregH37

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Quote from: pushups44 on April 12, 2019, 04:56:40 AM

There is more than one style that can be successful for trading. There are traders who look solely at technical analysis, and those who look solely at fundamental analysis, and most are in between. Generally, fundamental analysis is better with a longer-term perspective, and technical analysis with a shorter one.

I don’t think it is god to completely rely on one and leaving the other one out, many of these parts that are necessary and available must be put into consideration all the time before deciding to enter a trade.

You decision to know the trend to trade depends on the fundamentals happening the time of trade while technical analysis will shoe a better direction for our trades, so we may have people that has been lucky to use technical analysis alone, while we may also have people that are lucky to have used fundamental analysis alone, but the best approach is to combine both together to have a fantastic trade that will completely minimize our trading risk to almost zero.

emberbekas

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Quote from: vicoma on April 14, 2019, 12:10:20 PM

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

Whether we realized or not, fundamental things will usually contribute to the traders decision. And yes, technical analysis will be good if we combine it with fundamental analysis because to my knowledge, fundamentals will usually cause fluctuations with a good range.

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Quote from: Finestream on April 14, 2019, 06:40:52 PM

Quote from: vicoma on April 14, 2019, 12:10:20 PM

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

I think the best way to be a successful trader is based on the varied experiences we have.The more experiences we gained in trading,the higher the chances that we can be more successful and even more profitable at the end of the day.Technical analysis will only be worth it if you also trade with your skills and strategies learned in trading.

But we have to admit that TA's made a lot of successful traders evee since. I don't usually rely on technical analysis but it definitely helps if you know something about what makes the market move. There are a lot of other aspects to make a trader successful and being a good tech analyst can be on top of this.

Finestream

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Quote from: vicoma on April 14, 2019, 12:10:20 PM

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

I think the best way to be a successful trader is based on the varied experiences we have.The more experiences we gained in trading,the higher the chances that we can be more successful and even more profitable at the end of the day.Technical analysis will only be worth it if you also trade with your skills and strategies learned in trading.

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Quote from: mrdeposit on April 13, 2019, 06:43:15 AM

Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

In crypto trade, absolutely no. Because the technical analysis is not working properly. At least with the TA, there are very few people who can determine the price for future, and they are unlikely to be right.

Technical analysis sure works and its very effective, it all depend on the coin and the level of volatility at the point of trading, technical analysis has been a useful tool for mostly day traders, who monitors price movement of a second, minute or hourly basis and since they do so consequently, no matter the fundamentals that comes in, TA will be able to quickly detect it, although it is more beneficial to traders that trades directly and does not use stop loss or take profit tool.

The only people I see that TA is very useless too are long term investors, and this is where fundamental analysis comes to function more for them.

vicoma

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Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

Apened

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Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

You know it already and as you said you are trading with technical analysis, many traders earn with technical analysis but it would be much better to combine with fundamentals or with upcoming news behind the coins or what alts are you buying. By doing TA and FA you have a very big way of getting profits you just have to make sure that the fault is not on TA but in your identified entry and exits. Because regardless how you analyze and having all of the information if you entered in a wrong range of price you will always fail to earn.

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Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

More than 1 year ago, I realized that technical analysis is not everything, to apply technical analysis it is necessary to understand the market, I have never believed in triangles or in spectacular indicators with predictions of fantasy, that is why I studied many books by Richard Wyckoff and Jesse Livermore, I advise you to look for and read them, they are really great, they teach you to understand the market, according to those books, my losses stopped, because I am no longer guessing which direction the market will take, now I react With the market, I have more clarity and precision.

I used to make a lot of streaks in graphics, now they are very few, I have learned to identify what is a floor, a ceiling and area of opportunity, I also took a training from a Spanish-speaking YouTuber friend, which, for me, is a teacher , it has a very particular style to analyze the market, in fact it is very good, there I finished specializing, you can look for it in Youtube like Aarón Luján, you must understand that Trading is like a professional career, you should always read books, be updated for understand everything that happens in the market, I hope I have helped you.

Shenzou

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Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

The thing with the cryptocurrency trading world is that only analysis and knowing the market movements is not enough to make always successful trades, as unlike other classical markets it does not relay or it is not tied to a group of companies or certain people who have a big share, which is basically what centralization is, and that is what they are made to counter, crypto market is decentralized and changes based on multiple things actions and behaviors of is community, so if you want ti be successful in trading it you have to know what the community is doing or thinking, and the best way to do that is to be on forums like bitcointalk where everyone is sharing their thoughts and decisions about what is currently happening in the market and based on those you can make your next move, at least that is what i do most of the time.

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Technical analysis does have its merits but there are some caveats that need to be taken into consideration by any serious trader:

1) Most indicators use identical or similar inputs, ie you shouldn't give yourself a confirmation bias by checking signals for 2 indicators based on the same input, stick with one indicator you know well for each input like price action, volume, volatility, etc.

2) You need to interpret technical indicators in a way that's different from what's the crowd is doing with them, to create a trading edge for yourself.

Cherylstar86

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Quote from: Mpamaegbu on April 14, 2019, 02:32:27 AM

News is what you lack if you truly have taken care of TA and the psychology of trading. News is FA - Fundamental Analysis. This is very important in trading (generally, business) because news help push the TA to achieve a target. To be successful, one has to know what news emanate around the business one is into.

Experiences has a huge contribution to analyze the technical innovation on how will bitcoin surpass the shortcoming market and how it will grow appropriable. Apparently, being knowledgeable and skillful will lead us to be a successful trader, because we can defend and manage on how we deliberate a reliable result by visioning the possible outcome of bitcoin's trend.

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Quote from: A L I E N on April 13, 2019, 11:04:12 PM

Quote from: ginobitcoiner on April 13, 2019, 11:36:54 AM

analytical techniques are indeed one of the major supports in the successful trading of crypto currencies, but courage and confidence in decision making are also very necessary in the success of a trade.

If a person knows much about technical analysis, it means that he is courageous and confident. However, TA is not the only one most important thing when you trade. Consider your experience as well to avoid mistakes.

When someone is good at technical analysis means he is having enough experience on it but trading is not something which solely depends on the price patters in the history which is possible with stocks because we have enough data to aalyse how the market will react to the current situation but crypto is just infant we are lacking the data so just need to keep ourself ready to face any outcome which is preplanned trading.

Mpamaegbu

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News is what you lack if you truly have taken care of TA and the psychology of trading. News is FA - Fundamental Analysis. This is very important in trading (generally, business) because news help push the TA to achieve a target. To be successful, one has to know what news emanate around the business one is into.

Siren

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Quote from: Cryptomist12 on April 10, 2019, 12:18:56 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

Obviously it was Analysis so means nothing assures you something, and for me basically in trading lots of things we must consider and technical analysis is just one of those,monitoring the price chart and movement arent enough as well

Quote from: ginobitcoiner on April 13, 2019, 11:36:54 AM

analytical techniques are indeed one of the major supports in the successful trading of crypto currencies, but courage and confidence in decision making are also very necessary in the success of a trade.

Yeah because in deciding and confidence our positive aura are being boosted so with analytical support the percentages of gaining is nearer

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