Trading psychology and TA - page 6. | Bitcointalksearch.org

jaberwock

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Quote from: TheUltraElite on February 13, 2024, 09:00:27 AM

Its the mindset - being a person who does not sell when the market is falling and does not buy when the market is rising is important. The majority of people who enter crypto are with a get-rich-quick mindset, because of which they will follow this mistaken line of trading.

If your mindset is not like that you will be able to make profits be it short or long term, provided you keep yourself limited to bitcoin. I cant talk about altcoins, they are not my cup of tea.

TA is going to show you the trend, but do not depend on TA fully, the market has a bad habit of reversing itself before you know it.

Not depending on the TA as a whole is the best advice ever, because I know for a fact that it is not going to be true at all times, it is going to have some bad results if you are not careful at all. I believe that we are going to end up with something that should benefit them all, and because of this the result may end up with not getting great returns eventually. This of course is not that easy to handle, and we may end up with easy solutions.

The best thing to do would be checking the TA, and hoping that it would be a good result but if we are not careful then it's fine, we could just ignore the TA result that we saw and focus on something else. Do not trade without TA, but do not trade just because of TA neither, that's solid advice.

Husires

legendary

Activity: 1596

Merit: 1288

It exists, and it is closer to the experience that is gained through experiments, and these experiences come from more daily trading, which makes you have a better ability to know the points of support and resistance and how to enter and exit the market at the appropriate time. It is similar to a mechanic who works in car repair for many years, and through sound you can He knows the malfunctions, which is a feature that no one can know if he is a beginner.

EarnOnVictor

hero member

Activity: 826

Merit: 641

Leading Crypto Sports Betting & Casino Platform

Quote from: Bravut on February 13, 2024, 04:02:21 AM

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

What you just said is one of the reasons why traders often fail in the market, they are not properly informed in most cases, while some do not even believe that "what is right is worth doing." I don't know if you are privileged to read my posts about this in the past that traders need a lot in the market before they can be successful. If they lack any of such criteria, they will never be successful.

Traders need;

1. Good trading strategy which they can use to form a timeproof trading system.
2. Proper money and risk management.
3. Balanced trading psychology
4. Great trading plan that will coordinate all that they know about the market trading.

However, the knowledge of one or some without the knowledge of all is bad, not to mention the application of them. All must be known, established and applied rightly before success can be made in trading.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Its the mindset - being a person who does not sell when the market is falling and does not buy when the market is rising is important. The majority of people who enter crypto are with a get-rich-quick mindset, because of which they will follow this mistaken line of trading.

If your mindset is not like that you will be able to make profits be it short or long term, provided you keep yourself limited to bitcoin. I cant talk about altcoins, they are not my cup of tea.

TA is going to show you the trend, but do not depend on TA fully, the market has a bad habit of reversing itself before you know it.

Julien_Olynpic

legendary

Activity: 2562

Merit: 3477

Trading psychology is, first of all, the ability to not succumb to destructive emotions when following your trading system. But if there is no trading system, then destructive emotions are inevitable. If you don't have working trading setups, you will experience FOMO when an asset rises, or you will have panic selling when an asset drops sharply. It's unavoidable. Of course, psychology will not replace knowledge of technical analysis if your strategies are based on it. But if you have some very simple strategies like rebalancing, then control over emotions, that is, psychology, is important. But if you know technical analysis, then a lot will become clearer to you. And unnecessary emotions arise precisely because of misunderstanding.

Inwestour

hero member

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Quote from: Bravut on February 13, 2024, 04:02:21 AM

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

You only need to lose money a few times in trading to understand how much psychology can influence you. Someone tries to control their emotions with the help of clear rules, and does not allow themselves to break them, while someone really has a very strong character and is not influenced enough that it could harm him. Results can only be achieved using an integrated approach.

Xal0lex

staff

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Quote from: Bravut on February 13, 2024, 04:02:21 AM

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

It doesn't matter what your trading is based on, whether you use technical analysis or fundamental analysis. Psychology is present in any kind of trading. Psychology is an integral part of any kind of trading. A trader must use psychology because without it he will not be able to react adequately to losses and will not be able to use risk management adequately.

Oshosondy

legendary

Activity: 1624

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Gamble responsibly

First of all, explain what you meant as psychological trading.

Is it a type in which a trader will trade without having any bases of analysis? If that is it, it means the person is just gambling. Or does it mean a trader will not trade at all until the price of bitcoin has fallen so significantly? That is a good type of trading if that is what you mean.

But this would be good only for swing traders and holders. As for scalpers and day traders, technical analysis is very important.

PytagoraZ

sr. member

Activity: 350

Merit: 343

Jolly? I think I've heard that name before. hmm

Quote from: Bravut on February 13, 2024, 04:02:21 AM

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

In my opinion, bitcoin is something sophisticated and phenomenal, and for some reason every time I buy bitcoin the price goes down and when I sell it the price goes up. it's so magical. Cheesy

Long term guys, this is the best of the best. Of course, if you have strong finances, so you don't need to sell when you have suddenly need money

Bravut

member

Activity: 224

Merit: 42

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

Topic: Trading psychology and TA - page 6. (Read 1182 times)