- As said fibonacci, bollinger - but if you use bifinance, for example and other sites like it, you dont even really need to understand the maths and economics. There are really user friendly drop-down menus, which, once you have selected your coin of choice; apply it to it with said method.
There's some great Youtube videos out there and even seasoned old hands, in my opinion sometimes can get ahead of themselves and the basics. So it's worth once in a while doing a youtube search for an instructional vid on literally, for example, something like 'beginners guide to cryptocurrency analytics' or 'how to use the drop down menu's on bifinance website.' - Works for me to brush up fundamentals once in a while.
I personally rate the KISS (keep it simple stupid) approach, and if the stock has a value and is being traded under that average value - compression can occur. Then some say the rebounds come in upspikes of 2's and 3's; then either level out or more likely peak and go back down - sell sell sell!
Topic: What technical analysis indicators works for crypto day-trading? - page 2. (Read 712 times)
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
You're not really contributing ... what do you suggest? What indicators do you work with?
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Every indicators you know may be useful and somehow works if you just know how to see the future of crypto. You'll just have to learn to a new market and try to adapt it.
I use Fibonacci a lot for my TA analysis (in forex), but I do it in the bigger time-frames, where they seem to have more validity (due to historical data).
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
How long have you been trading FX?
Around 2 years ... I am at the point that I feel so comfortable with my trading style in forex that i was ready to invest bigger, but I can't ignore the positive developments I hear about the crypto trading ... I believe in the technology and i hear the growing adoption ... so I am really actually researching now if I can be as comfortable with crypto trading as i feel with forex trading ...
disclaimer: I never claimed to be an forex veteran, but I am convinced I have enough chart time and a strategy that I feel confident about trading there ... my problem with forex would be, that it can be slow. AUXUSD is pretty volatile, but also very manipulated, but then again I have enough safety tools to limit my losses. I don't know that with crypto yet
I think you'll adapt fine to Crypto.
The only advice I'll give you (since I used to trade Forex, too) is that slippage is a much bigger problem in Crypto than it is in Forex. I only got slipped like 3 times in Forex over a six year period, but in Crypto it's happened at least 15 times, and one occasion caused me to lose quite a lot of money. So just be careful of that when you place a stop loss.
Wow that's significantly more man ... slippage is a big turn off in forex ... ppl will start panicking, saying that the broker is cheating you out of your money ...
would you say the trading platform is comparable to mt4? and what trading platform if I may ask
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
I would like to tell you this that Forex trading and Crypto trading is similar yet they do involve buy and sell but when it comes to volatility then it would really be a different story.
Going back to your question, theres no technical indicator that can give you a precise or somehow accurate prediction yet this market is very speculative.
On my part, i just do use up trend lines, S&R and some Fibonacci levels.
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Im no big experts with the crypto trade analysis terms that you have used here but I can assure one thing, crypto technical analysis always fails and it is far far different than the forex market place. Never compare that market with the crypto one because it never works here, due to ever changing facts, news, updates, and different political/non-political decisions about the crypto currency usage. These all drive the prices of bitcoin or altcoins in different fashion and when your technical analysis says bitcoin should be up by 2x at this XYZ time then exactly reverse might just happen because of ABC factors affecting it. So its better you research over this topic more and you will see kinda similar opinion to mine.
I use Fibonacci a lot for my TA analysis (in forex), but I do it in the bigger time-frames, where they seem to have more validity (due to historical data).
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
How long have you been trading FX?
Around 2 years ... I am at the point that I feel so comfortable with my trading style in forex that i was ready to invest bigger, but I can't ignore the positive developments I hear about the crypto trading ... I believe in the technology and i hear the growing adoption ... so I am really actually researching now if I can be as comfortable with crypto trading as i feel with forex trading ...
disclaimer: I never claimed to be an forex veteran, but I am convinced I have enough chart time and a strategy that I feel confident about trading there ... my problem with forex would be, that it can be slow. AUXUSD is pretty volatile, but also very manipulated, but then again I have enough safety tools to limit my losses. I don't know that with crypto yet
I think you'll adapt fine to Crypto.
The only advice I'll give you (since I used to trade Forex, too) is that slippage is a much bigger problem in Crypto than it is in Forex. I only got slipped like 3 times in Forex over a six year period, but in Crypto it's happened at least 15 times, and one occasion caused me to lose quite a lot of money. So just be careful of that when you place a stop loss.
I have used bollinger band and RSI as far as I know. Those are the two things that makes the most sense. If something is fitting on the bollinger band levels and RSI is proper you can buy or sell accordingly because it shows the perfect moments of going up and down too much. However if you add something like trailing on top of that, it will also help you out on pumps or dumps as well, it may go too high or low too quickly because of some dumps and you don't want to buy because of those so a trailing method would help prevent that. Those three is enough for anyone to start trading.
Interesting ... On what time frame do you make your analysis?
I have used bollinger band and RSI as far as I know. Those are the two things that makes the most sense. If something is fitting on the bollinger band levels and RSI is proper you can buy or sell accordingly because it shows the perfect moments of going up and down too much. However if you add something like trailing on top of that, it will also help you out on pumps or dumps as well, it may go too high or low too quickly because of some dumps and you don't want to buy because of those so a trailing method would help prevent that. Those three is enough for anyone to start trading.
For me i only use 3 different indicator for my day trading, those are MA 20, MA 50, MACD and Volume. And sometimes i also add trenline. For trading platform that good for day trading is exchange that has high trading volume, like Bitmex, Binance, Huobi, Okex. These all platform has nice charting and easy to use and to add some indicator.
thank you ... I'll look into them ... you're the first to mention macd ... havent seen stochastics yet though lol
For me i only use 3 different indicator for my day trading, those are MA 20, MA 50, MACD and Volume. And sometimes i also add trenline. For trading platform that good for day trading is exchange that has high trading volume, like Bitmex, Binance, Huobi, Okex. These all platform has nice charting and easy to use and to add some indicator.
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Every indicator have different purposes and setting, you should understand that before use it. Technical indicator will follow chart ( number ) and always change because supply/ demand not balance anymore and delay ( network problem ). For day trading, I recommended SMA ( 5.3.3 ) and use MACD to read trend. There's no completed analysis tools, keep practice and your experience will become your guide.
I use Fibonacci a lot for my TA analysis (in forex), but I do it in the bigger time-frames, where they seem to have more validity (due to historical data).
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
How long have you been trading FX?
Around 2 years ... I am at the point that I feel so comfortable with my trading style in forex that i was ready to invest bigger, but I can't ignore the positive developments I hear about the crypto trading ... I believe in the technology and i hear the growing adoption ... so I am really actually researching now if I can be as comfortable with crypto trading as i feel with forex trading ...
disclaimer: I never claimed to be an forex veteran, but I am convinced I have enough chart time and a strategy that I feel confident about trading there ... my problem with forex would be, that it can be slow. AUXUSD is pretty volatile, but also very manipulated, but then again I have enough safety tools to limit my losses. I don't know that with crypto yet
Trading view is best mate for charting and indicators.
Ive never traded forex, but the indicators I use work according to my trading style. You must have obviously have your trading style.
I would test/back test to see if your indicators work for you in cryptocurrency, I dont see any reason why they should'nt.
I have multiple charts saved on trading view to give me various outlooks on a coin (mostly BTC and ETH)
My main chart consists of
12/26EMA
MACD
RSI
VOLUME
VWAP
My other charts include all my other indicators I find useful.
Ive never traded forex, but the indicators I use work according to my trading style. You must have obviously have your trading style.
I would test/back test to see if your indicators work for you in cryptocurrency, I dont see any reason why they should'nt.
I have multiple charts saved on trading view to give me various outlooks on a coin (mostly BTC and ETH)
My main chart consists of
12/26EMA
MACD
RSI
VOLUME
VWAP
My other charts include all my other indicators I find useful.
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
Crypto isn't liquid enough for technical indicators to work properly. It's also unregulated and rife with manipulation, so technical indicators that work for regulated stocks, won't work in the same way for crypto.
I use Fibonacci a lot for my TA analysis (in forex), but I do it in the bigger time-frames, where they seem to have more validity (due to historical data).
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
Same here.
Tradingview is a bit laggy to, at least it is for me, so it's not easy to navigate when you've got a few tools and lines on it.
How long have you been trading FX?
I look at the charts of all the crypto currency on the TradinView website and I also conduct all technical analysis there. For me, the most important indicators are the volume of trades as well as the levels of support and resistance. I do not use anything else.
I use Fibonacci a lot for my TA analysis (in forex), but I do it in the bigger time-frames, where they seem to have more validity (due to historical data).
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
It's harder to find historical support and resistance levels, due to the lack of historical data in crypto.
I do miss the standard MT4 TA tools tbh ... Tradingview has some cute tools, but still nowhere near what I'm used to ...
Having dabbled in forex trading for the past years and starting my crypto journey.
I'm wondering what indicators are useful for crypto day-trading. How useful are SMA's or EMA's?
What trading platform has the most complete technical analysis tools?
MA 89
MA200
RIS
Volume
Also you should apply down the theory and the downtrend and uptrend lines.
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