Topic: What is your trading strategy? - page 3. (Read 1102 times)

The most important thing to try to learn to be responsible and continue to hone your ability to improve your trading skills because by doing so we will definitely be more experienced in dealing with trading. Fundamental analysis will be formed when we understand the basics of trading well so that we can try in smaller amounts first and after the trading experience improves, then we will try to trade in larger amounts than before. Trading is indeed not easy because there are many considerations that need to be learned, but as long as we want to learn, there must be a way to get involved in trading that is much more responsible in dealing with risks.

Every coin is unique, so you can't exactly tell what indicator you need to use for each project. It depends on the market performance and project developments as to how you will assess their profitability. Also, learn how to get some insights from the developers of the coin as you will have idea what are they planning or where they are heading at.

It's wise to choose 2-3 big coins and analyze them and only them - at least at the start of your journey.
If you master them, you will be able to project your experience on the coins that are the same and you will see patterns repeating themselves.
Doing it responsibly and with the needed effort should bring you success.

So you wait for now for BTC to correct itself for big, right?
As far as I know, we aren't there yet - to see big alts boom for real.

I rarely use certain indicators when I want to trade daily and weekly, because I am more comfortable looking at the benchmark on the previous price chart with the current RSI level so that I can dare to buy at a certain price. In addition, I also see market conditions that are often influenced by the level of price increases and corrections in Bitcoin, because there are many altcoins that are also affected by this so I prefer to use a strategy of buying when a correction occurs rather than when a price increase occurs.

I agree with you, the trading market is changing, so the same strategy will not always work in this changing market. I agree with you that the importance of fundamental market analysis is essential in trading.
All in all, a new trader needs to learn everything patiently, and have a good understanding of all aspects, and always analyze the market movements, and trade using the right strategy at the right time.

As we all know, technical analysis is very important in trading—but that doesn’t mean it works all the time. Honestly, no strategy works in every situation. That’s why, as traders, we need to stay adaptable and ready to adjust to any situation. Let’s face the truth that trading is tough, and it’s unrealistic to expect consistent profits in a volatile market.

That’s why it’s so important to develop your own strategy instead of just copying others. Success as a trader isn’t just about the strategy you use; it’s about how you analyze trends and make decisions. It’s a game of self-control and critical thinking—two things that are difficult to master, especially if we are impatient.

So, OP, it’s better if you take the initiative to explore and learn what you need to know as our future lies in our hands, not from others.

Fundamental analysis may be quite necessary before you enter the market and usually a certain strategy will not work because the market can change so quickly and in such conditions we are required to change the strategy. I am not one of the professional traders and may not be able to provide the best indicators before entering the market. But in some cases before entering the market to take an entry step I will consider the RSI or see which direction the market will tend to move. This strategy also does not provide a guarantee because usually the RSI is only an illustration before making a decision and is not always right as we want.

The thing is that as a trader you have to create your own means of trading so that you will be profitable, because the strategies of another person may or might not favour you if you copy its own method of trading, what I will advice you is that don't trade because other people are trading, at first make your inquiries or research and also manually in trade so that you can be able to overcome any obstacle that might come across.

Most good traders doesn't like to share of trading mostly when they are making profits through such particular method, so you have to understand that trading is all about risk, and since it involves risk you have to take properly precaution of trading, because if you don't take proper care of trading you will miss out in trading and you will dislike trading, so ensure that you learn and comprehend before you join trading.

Too much indicators on the chart is not a good practice — all top traders I know say this. Someone who is serious about trading markets needs to understand the core price action of the market and can interpret price just by looking at the chart. The days of spamming indicators all over the chart appears to be long gone.

Fundamental, Technical or Sentimental analysis all work fine as long as it's your edge and you can use it effectively, i think that's all that matters.

Shorter terms is a lot harder to handle because it requires a lot more quick action and quick thinking and quick reaction as well. So all of that is a very difficult thing to do and not a lot of people does that, which is why we are seeing a lot of people losing money since they don't do those things quickly.

While we are on the subject, having different strategies could still work, there isn't a single correct strategy in any case, there are some good ones and there are some bad ones. I believe that we are going to see plenty of good ones in the future, and for that to mean something nice, we need to figure out how to get better results as well. I believe that's the hard part people have trouble with, because they try to find that one great strategy.

As long as it takes to not make a loss. Usually a long hodling time is rare, but it also depends on the time frame you are trading on. If you trade on the 1 day frame, you will find mistakes can take days to weeks of hodling. But you can usually find a spot to sell at a profit in a short time frame, sometimes within the same day. If you were unlucky enough to get hit by multiple dumps then the worst thing you can do is panic and sell. That is 99% of the reason why traders lose money. I have found it better to just wait.

For how long do you usually hodl bad trades?
Or it depends on the situation?

And that is basically how to be successful in trading. If you can train your mind to do the opposite of what everyone else is doing, you win. Only trade when there is volume in the market and be patient. Trading can also be difficult if you have limited knowledge. However, with the right strategy and opportunity, you can be successful. That is the essence of trading and point number three should be there for every trader and is the key to being a long term trader.

Strategy is about discipline and we must be able to be consistent with this strategy and stick to the plan because Trading is not just about making quick moves, but about understanding the market and being patient. It is important for traders to have a strategy, but more important is the execution.

1. Never sell on a loss. Bad trades go into the hodl pile.
2. Do not worry about how low the lowest price will be. Just buy the dip.
3. Keep your emotions in check and do not trade when you are emotional.

When you are dealing into something then the moment that you do found yourself having such experience then you will really be able to formulate you own strategies along the way and this is something that will really be that varying up into certain individual because those strategies would really be molded up on which basing up into the learnings that we had been able to get at the moment that we've been doing our trading.
We are the ones will really be formulating our own strategies on which you do seem yourself that be able to be profitable or really giving out some positive result. On the moment that you do step your foot into this market then it will really be that  giving out that kind of situation on which tons of trial and errors on where you will really be able to face on. As you do go forward then you will be able to notice into those things on which are supposed to be done or what not. It is really that normal that you as a person whose really that interested on doing trading will really be that definitely making out some adjustments on where it is really that basing up on what you have learned along the way. Any strategies that you will be applying whether those known ones or something that you had been able to find out on mixing all of those different variations of strategies which are available on which this should really be just that fine.

You actually have a point and like I stated before, it comes from experience. People with such qualities are probably those who have tested different trading patters and have selected key ingredients of those systems to add to what they now internalized. They just open the charts and easily recognize what they are looking for in the market without having to reference anything and they simply struggle to explain what trading strategy they use but they simply trade.

You don't have it because you traded for so long you see and remark some metrics or factors on the market unconsciously - so it's natural.
If you would look closely, I do think we would see patterns in your behavior and such - thus, it would be a strategy.. sorta.

Most successful traders I know end up not having a single trading strategy but a combination of many trading style that the end of internalizing after engaging in the practice for a long time. The pick many things from their experience and simplify it to suit their trading style and this makes it difficult to point to a singular strategy they trade with. Few also coin a different new name for their trading style and try to outline a form of checklist of things that must align before the place their trade. I have heard people say they don't have a strategy but they just trade. As of now I don't even know if I have a strategy because I just trade.

Never went into the indexes, what was the situation, exactly?
And what's your ratio for them and crypto trading?