Topic: Trading psychology and TA (Read 588 times)

That is where some traders are missing it in their trading today because they feel when the price is falling is the best way to trade, not knowing that it will make them to achieve loss, and if you want to make money from trading ensure you watch the market price at the moment the price has risen higher.

 Crypto trading is not like other business you will invest and get rich quick from the business, but if you can endure for long with your trading, and follow the due process to to trade your coins you bought from the market, you will surely improve your profits.

Just focus on your hodling during the bear without having the mindset of getting rich quickly because once you start making profits from your trading it will help you to get rich when you stay long in your trading.

Advantages that include good crypto knowledge, basic knowledge of trading is indeed very necessary.
Because Psychology will be formed from a series of events that occur while trading takes place.

One will not rely on psychology alone, but also on excellence, as they can read the market well using TA and FA.
Knowing the science of trading well and then hone trading psychology, it will be the perfect trade if you continue to practice it.

Technical is the representation of fundamentals on the chart the market is runned by policies, market decisions, traders choices. Being good fundamentally and also in TA gives you an edge as we also have traders that rely mainly on Fundamentals.

I don't understand the difference you are talking about Mate and would love  if you elaborate on it, a far as I know the most important is having control over your Emotion because from Emotion streams FOMO, greed which is Psychology we talk about in Trading.

And I point a fact that without an edge, psychology is a crap, one need have a system which suites him and disciplines himself to follow, with proper risk management  he already know that two possible which is profit or lose, this will shaping him to trade without fear because he already has a system he follows. But skipping the process of learning and building psychology will make you keep losing because you understand nothing about the market.

Some of us can think that psychological and emotional are pretty much the same but they actually have a few differences and one may lack good control on one of them, so it's important if we don't disregard them, as they can affect our trading activities. The market is still unpredictable, so having that effective trade may not always be possible at all times, especially if we are only getting started.

This is why it's important to not bet all in trading only to sustain ourselves continuously. Many traders are most of the times relying on TA and they are still fine with it, so yeah but if fundamentals are also available, then why not include them as well? As they might also help us to have a more successful trade.

Not only on psychological aspects but also having that in good control on emotional aspects as well on which there are really a couple of factors on which you would really be needing up to control with so that
you could really be having that effective trading so that you could really be able to sustain yourself on this unpredictable space. It is really just that you cant really be able to take a good grasps on your first tries
but doesnt mean that it would really be impossible. Of course you would really be finding yourself that be relying with TA because not all the time you could be able to have those fundamentals that you can make use.

Also, not all the time that it would really be available and it would really be just that right that you would really be needing up to consider on making good trades via making good entries or buying point.
You would really be able to realize on how relevant these things to be considered on, you wont really be needing to put up your focus on a single point because each part
would really be taking up its relevance once you do make out trades specially on crypto space.

If you went to university you will know whats psychology and their function or the impact they create, what I'm trying to say that psychology is just like observation theory of understanding of some illusions, so what I'm trying to say is that you have to believe in psychology or not but many people today do understand the problem and things that happened around and through a psychological impact so anyone who says that psychology does not exist that means the person did not believe in science, so this is my own Theory of psychology and the its impact or functions to us.

the some of the things how will you say that make some people not to understand the magic bitcoin does is that they fail to understand the rudiment of cryptocurrency especially Bitcoin for the first time , for me, if you don't want to get involve into miscalculation of when bitcoin will rise and when it will be fall you have to venture into a long-term investment instead of investing most of the people who invested in short-term always lose their money or their capital based on they do invest because of the price of Bitcoin is accelerating so if the price of Bitcoin is not accelerating they will not invest so therefore I believe that cryptocurrency investment especially Bitcoin we have to understand the concept even also involve yourself to check the movement of candlesticks to know the proper time to invest or not.

with a psychology is the give you a direction of when to involve yourself into trading and this can happen when you have the basic concept or the basic knowledge of trading that is when you are psychological knowledge with a function properly because is working based what you have the knowledge of so if you don't have the knowledge I don't think that psychology directly in Trading or any other thing can help you out.

both technical analysis and the psychological impact of calculation in Trading can be executed when you have already acquired a knowledge of trading and you are also practicing trading that is when your psychology will a work out for you concerning trading so we can say psychology play a major rules trading when you have the knowledge first.

I think that there is no psychology behind short-term trades, you are either well-informed & very lucky or you will lose most of your trades... something like that happened to me, and probably to many others. But I believe there is psychology behind mid and long-term trades, you need to choose the right trade, get into it, and be strong enough to endure some rough times before profit comes. Until now, Bitcoin (and some other top coins) made a recovery and new ATH every time, psychologically strong people endured... I guess we can say that that is what "strong hands" actually means.

Sure both is needed to make not just a trader but a profitable one. In essence both need to be developed to safeguard and reduce the risk of the trader.

Trading is a game of probability, of which nothing is certain so is essential we have set rules and system that will help reduce  of which one of the essential way is conquering ourselves, because the one who conquers himself is a mighty warrior.  Cheers to many who are ready and on the part to profitability.
Build your Fundamentals, Technicals and have emotional balance all work hand in hand.

I do agree that the psychological aspects in trading is sometimes underrated as majority focus more on technical analysis development. But if we come to evaluate them properly, both are actually crucial in trading. You cannot be a successful and profitable trader if you lack the emotional aspects, even if you are extremely good with technical analysis. A lot of traders lose not because they don’t have the professional skills and technicalities in trading, but because they fail on giving emphasis on their psychological aspects which is very vital in trading, as well as with technical analysis.

I agree with your point of view.
I believe that a person does any work keeping in mind the advantages and disadvantages of what they are doing. Unless a person is mentally and psychologically ready to do a job, that person cannot be interested in that job. Before starting any task, we mentally prepare ourselves for the benefits or disadvantages of the task.

So I don't see trading Technical Analysis and psychology separately because they both go side by side. A person with a good trading psychology will be able to acquire excellent technical analysing skills as well, combining both, they become a good trader.

Except the bot will be built into the exchange, its a hard pass for me because most hacks involve CEXs were due to API used for external trading bots. Speaking about bots, platforms ike 3comma used to be like the prime examples but all of those popular bots fell off hard. What I actually meant was that before executing any trade, I want to have TP and SL zones set out before hand so I don't sell before TP/SL due to sentiment changes (getting too excited to close before TP or too nervous and close before SL) when the trading is still active.

But thanks for the tip anyway. I will be sure to keep it in mind.

It is not easy to figure out technical analysis because there are so many parts of it that people need to focus on, I believe that is going to make things harder for them. I am not saying that it will be impossible, of course you can study and learn there is nothing stopping you from doing that, but that doesn't mean that you are going to have easy time learning.

I have learned it a bit, and I can't say I am good enough yet, and even at this level, it took me so much to learn what I have learned, mind you I am not even some big trader. So be ready to give some proper time towards it if you want to be good at it, you need to spend some good chunk of your time for months in order to be good at it, a year if you want to be great.

Both are essential in trading.  Both psychology and technical analysis are essential in training.  We cannot compare one with the other in this case or define any one.  Just like trading cannot be learned without technical analysis, trading cannot be learned without mastering psychology.  Without technical analysis you will not understand the technical aspects of trading.  And without psychology you cannot keep your mind strong and free from greed.  Moreover, training requires a lot of mental endurance which cannot be achieved without psychology.'

A tip at this point: Use a bot to execute your trades (or your trading strategy). This way, you won't be embarrassed to end a trade too early or to add capital to poorly performing trades.

It may take some time to set up, but it will save you an incredible amount of nerves - and above all money. Bots are a dime a dozen these days anyway, both paid and free.

Psychology in trading is really an important issue that must be studied. Because all of this concerns sentimental or emotional issues for every trader in the market. In fact, we are all familiar with the fear and greed indicator which is used for sentimental market analysis. And this sentimental market analysis is proof that understanding trading psychology is quite important. And actually technical analysis, fundamental analysis, sentimental analysis, emotional management, risk and money management. All of that cannot be separated. Everything a trader must own and master if they want to be serious and successful in trading. All of them are needed and one cannot be ignored.

Very often the psychological state of a trader is ignored or thought as not important by the sources traders use to learn, but this is incorrect, since it does not matter how skilled a trader may become, if when the time comes they are unable to make use of their skills to trade the markets effectively because they have lost the control they must have over their emotions, and in fact it could be argued that the majority of the losses a trader will suffer during their careers, come directly from losing control over their emotions.

This couldn't have been said any better. Both Technical analysis and solid Psychology is very important as both of them compliment each other. For instance, you could be very good at technical analysis — you have the right setups, you have good entries but you will end up fumbling the bag. This is from my personal experience because I had a trade that was doing well lately but then I fumbled the bag during the last crypto short term market dump last week that saw BTC hit $60K and ETH below $3.1K. My stop loss was much lower but I took it higher because I panicked. What happened this week? Almost 100% move of the price in my original direction. If my psychology was right to execute the trade to the latter regardless of any short term market scare, I would be eating good now.

That said, I've taken that as a cue to start building mental toughness and strong psychology to execute my trades based on my rules. Either TP or initially set SL. No impromptu trade closes, etc.

A trader can have both a solid psychology and the right approach towards trading as well as the ability to perform technical analysis. Having a solid psychological foundation and a good trading mindset can be essential for successful trading, as it can help traders manage their emotions, avoid impulsive decisions, and stick to their trading plan. So, it is not a question of choosing between technical analysis and a solid psychological foundation, but rather recognizing the importance of both and integrating them into a holistic trading strategy.

It could everything and this is something which is really that standard on which you cant really just that make yourself that be able to deal up with trading without having those qualities or those kind of skills and other aspects on which we know that this is something which is really that relevant. You would really be the ones who would really be able to fine out on which method or conditions which you would see yourself that able to
be that sustainable. We do know that even if you do try others analysis and trying out to copy but ended up still on a losing trade then this does basically means that not everyones method or ways would be also working for you. This is why it would be relevant that you are the ones who would really be that making out such adjustments.

Psychology, emotions, risks management etc... will be all that really needed along the way. You wont really be finding yourself that effective here on this space if you are someone whose really
that always loving on following others and doesnt formulate on your own.

Any factor can affect our trades. Trading psychologies will vary to how you look at it. Emotions are also factors for your decisions and that's why it can affect you straightly. TAs are sometimes wrong and doesn't line with the actual market but at most times, they're good if you prefer to have it. Actually, any ways for you to be good at this market, do it because if that's what makes you survive on this market and have some winning trades then that's all what you have to do.
With all of the factors that you have encountered, combining them with your experiences will make you a better trader.