Technical analysis is not enough in trading because it is not possible for a bird to fly with one wing. You are to combine both technical and fundamentals analysis in other to be able to trade profitabily and seriously reducing risk of your capitals been wiped out because of news.
- Exactly, technical analysis only gives us an overview of the market or a certain object, and with such little information and data, it will not be enough for us to make appropriate decisions or predictions, many traders have confessed that they are very good at technical analysis but success still does not come to them in trading. Because except for technical analysis, we also need to know more about other factors such as market news, trends, and events that will happen next, these are very important factors that can change and reverse our technical analysis, so we need to consider more. 
Topic: technical analysis is enough to be successful in trading ???? - page 9. (Read 1419 times)
Technical analysis is not enough in trading because it is not possible for a bird to fly with one wing. You are to combine both technical and fundamentals analysis in other to be able to trade profitabily and seriously reducing risk of your capitals been wiped out because of news.
Technical analysis is a part of success on trading but it's not enough. You have to combine market trends, project updates, news, etc. Everything need for successful trading. Your analysis always would not be correct. Lot of thing related with trading. To be honest I am not much experience with technical analysis but most of my trade has been become successful. Howeve, you always need patience and I believe you have that. But really we can't expect that our all trade will be successful trade.
News is a big part because most crypto do react with these development announcement or whatsoever.It would really be needed for it to be used together with Technical analysis.Same as yours im not really into charting because mostly i do always
see for news to make my own trading entries or exits.
Technical analysis is the most important thing for investors to get confident with the future but it will not only important for your confidence about your investment that will be lots of things must be known by you then only you can keep up with the hope and knowledge for the future.
Basing your trading decisions exclusively on technical analysis is one of the worst mistakes that anyone involved in this business can commit. In fact, there are opinions of experts and academics who declare that technical analysis is nothing more than a pseudoscientific superstition that has never been able to demonstrate its usefulness in predicting any potential market movement, and its effectiveness does not go beyond random guessing.
Therefore, focus on monitoring the prevailing market environment, as it seems that you will be more fortunate if you move according to the feelings of the market, because purchases and massive sales always have an emotional trigger.
Therefore, focus on monitoring the prevailing market environment, as it seems that you will be more fortunate if you move according to the feelings of the market, because purchases and massive sales always have an emotional trigger.
Trading is a zero-sum game. When you earn 1 Bitcoin it means you took 1 Bitcoin from others.
Therefore if there was one single tool that allowed you to take Bitcoins from others, this tool would work for others as well, taking Bitcoin from you.
As you can see that'd make no sense.
Therefore there isn't any single tool or method to make $ trading. You gotta outsmart competitors all the time to make $ trading and that's why most traders end up broke in the long run.
Therefore if there was one single tool that allowed you to take Bitcoins from others, this tool would work for others as well, taking Bitcoin from you.
As you can see that'd make no sense.
Therefore there isn't any single tool or method to make $ trading. You gotta outsmart competitors all the time to make $ trading and that's why most traders end up broke in the long run.
Technical analysis is a part of success on trading but it's not enough. You have to combine market trends, project updates, news, etc. Everything need for successful trading. Your analysis always would not be correct. Lot of thing related with trading. To be honest I am not much experience with technical analysis but most of my trade has been become successful. Howeve, you always need patience and I believe you have that. But really we can't expect that our all trade will be successful trade.
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 alone is not enough, I think we need to cultivate more knowledge to evaluate a business. Sometimes the chart will not be able to say anything. You know, there are a lot of tokens being traded because bots and charts do not tell the actual situation. so we need to combine both to get a great investment strategy. and Warren Buffett is very good at this.
If Technical Analysis is enough then I think everyone should be rich by now. It is just a guide or a tool but you can't really rely on it.
And besides, the ecosystem is fairly young that's why it's really hard to do analysis on it and say for certain that the graph will move in this or that direction.
And besides, the ecosystem is fairly young that's why it's really hard to do analysis on it and say for certain that the graph will move in this or that direction.
Technical analysis will only give you speculation and guidance when making your trading decisions. There are also other factors that will help you on trading, such as what you have mentioned. And to add, experience and being cautious and discipline when trading will help you a lot.
It is never "enough" to be great at trading, there is absolutely nothing that will make sure you are great at trading aside from being super lucky. Even if you are a great trader sometimes you get unlucky and there is not much you can do about it. That is why you should try to focus on making everything about trading your expertise and work on everything not just technical analysis.
Yes, without technically analysis you are going into trading without knowing enough, so if you want to be a good trader you need to know TA very well but just because you need to know TA well doesn't mean you will become good at it, it just prevents you being bad at it. So look at everything as experience you get along the way and when you level up enough times you become a good trader.
Yes, without technically analysis you are going into trading without knowing enough, so if you want to be a good trader you need to know TA very well but just because you need to know TA well doesn't mean you will become good at it, it just prevents you being bad at it. So look at everything as experience you get along the way and when you level up enough times you become a good trader.
It's hard to say, but it could be possible if you can master the technical analysis and you can hard work to understand how the technical analysis works. Maybe my suggestion is you need to learn how to analyze the market and not from the other people. You can always get information from other people but you must analyze by yourself, so you can determine what is going on with the market and if you can find a way to enter the market with a good price, then you should do. With many practicing, I am sure that you can get more information and you can add more skills to helps you to trade.
Technical Analysis or also referred to as TA is not enough for you to succeed in trading. Of course, without viewing news online you cannot get your success out of that. It because all cryptocurrency coins are connected to the news that's why whenever someone produce a FUD in bitcoin. It affects the growth of it. You can see it go down.
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
Trading on the basis of technical analysis sounds posh, hence a lot of traders use such terms. However, majority of the trade on the basis on news! Let me give you one example how it works,
Back in early 2018, an airline company of my country was making huge losses and was on the verge of getting closed. The management was talking with the lender to restructure the loans using their property and what not. The share price reached at 19 bucks from 221 bucks earlier. I was following the news very closely.
Suddenly an experienced businessman and a former cabinet minister decided to infuse funds in that company to revive it. I got this news from my morning newspaper and invested a good amount of money in their stocks as soon as the market opened.
Now today, their stock trades at 94 bucks each. You can understand how much profit I could have made today. Unfortunately I sold those shares at 41 because I needed urgent fund. But it shows that news is the most important asset to every trader. There is nothing more important than news in the stock market.
Technical analysis is for posh traders graduated from expensive B schools. Traders grown from the streets, relies more on news!
Obviously, it will not be enough and others have pointed out that TA is not applicable in this market because this is a purely speculative market and prone to manipulation. I guess TA will have it's strengths but you need to understand what the current sentiments are. And this is very difficult to gauge because the only indicator that you can used in the news around, this community view towards a certain events (FUD). I guess if you have that experience and has been playing in the market for long, you will understand what I'm trying to say here.
There no way in which only technical analysis will help you make an informed trading decision because there are other factors that has significant impact on the market such as fundamental issues in relation to crypto currency market.
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
Hi there,
Well, market is highly volatile unlike forex so there are almost countless of factors and your luck has to play its part because admit it.. We are gamblers... at least every trader is.. to honeycomb it.. we are risk takers...
But somehow.. the more visible factors here are
1.how the crowd does it
this is without a doubt, the most essential but the most vague indicator. we are traders because we interact with each other through exchange.
example. see how the prices become more volatile as the crowd get driven by the news.
enjin really got the crowd with its partnership w/samsung
2. how the big guys does it
somehow there are large entities that can manipulate or bring a major change in market using their resource or influence
exhibit A. the sudden jump of bitcoin last april fools (this is still a conspiracy)
exhibit B. Xlm was down last March 2019 because they are giving out xlm through coinbase (this is based on my assumptions)
3. how you do it
welp. in the end, no matter how experienced you are.
it all comes down to you mate. it depends on "you" factors.. (mood, development, resource/capital, social network...)
Trading activities is a complex venture and it requires mastery of the complexity. This therefore means that our understanding of the market shouldn't be one sided, meaning that technological analysis alone won't be enough.
The sentiments in the market are plenty , news also plays its own part. In fact, if we want to succeed, we have to keep understanding the market daily with every thing we can including the technicalities.
The sentiments in the market are plenty , news also plays its own part. In fact, if we want to succeed, we have to keep understanding the market daily with every thing we can including the technicalities.
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
Doing technical analysis alone cannot guarantee you to become a successful trader. Remember that trading is a multi-factorial skill that requires various experiences and skills in order to become successful. I strongly suggest that you study the market through considering the internal and external influences on the coin. Furthermore, confidence is something that is gained through experience.
I am not aware of any books that teaches the basics of trading but you can browse around this section of the forum as many people have provided their personal tips and experiences in order to become a better trader.
Quite very effective if you are willing to taking small profits per trade and not be so greedy.
This is actually what most day-traders do. They accrue small profits from their transactions but they have to develop an exit strategy to know the limits of their trades. Multiple small trades with small profit margins may be profitable but it might be difficult to recover from ONE BIG LOSS from a trade.
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 what makes me uncertain about my portfolio. I usually analyze the basics and buy them at low prices and long-term holdings.I think basic analysis is quite important because the core values will never be lost.
You can buy Warren Buffett's books and read about him. he will show you how to do basic analysis.
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