Which trading indicators/traders would you recommend? - page 3.

South Park

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Quote from: BitcoinIsABubble on April 05, 2022, 05:54:14 AM

Hello Bitcointalkers,

The subject of the thread is pretty self-explanatory, I am wondering which tools would you recommend for spot trading in particular.

All the widely available indicators are useful for any trader, however you need to know how they are calculated, what are they supposed to indicate and how you can use them, only then you will be able to get what you need out of an indicator, with that being said be careful, there are many people that add 10 indicators or more to their charts making them unreadable, when truth to be told you only need 5 indicators maximum to create a strategy that can make some decent money out of the markets.

justdimin

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I would recommend EMA and MACD as the biggest two on my list. I have to say it is not really the best way to invest just based on these things, you should look at other methods as well. I agree that RSI is great too, and Bollinger Band is also not too bad neither.

You have to realize that none of this matters if whales or people who are powerful enough to manipulate the markets sees what people are doing and what they are expecting and doing the exact opposite to make money. That is the bad thing about crypto, people could turn the movement around with enough money because regulations are axed in crypto and whales could do whatever they want here. So be careful when using them.

palle11

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Quote from: Oshosondy on April 06, 2022, 04:33:52 AM

Quote from: palle11 on April 05, 2022, 10:20:53 AM

Quote from: Oshosondy on April 05, 2022, 06:02:35 AM

Try and learn how to draw lines too to indicate the extend of price rise and fall.

Drawing of lines is still a biase way to trade because it is based on the individual mind or the way the trader decides to draw it out from his indicator like some are using Fibonacci which can also be like drawing of line. I think SMA, MA and RSI are better to show every trader worldwide how the market has formed, overbought or oversold too because they are same across the world depending on the time or adjustments done on them but drawing of personal lines is only personal.

You are definitely right, just that drawing lines indicates the extent of the overbought or oversold market. I have used it many times and it worked for me. What I have noticed in trading is that there is no one way in making profit, different analyses and approaches can be used to achieve a good result.

Yes profit is individual based and I believe whatever you are doing in trade that is keeping you on profit, you have to continue with that, if you change from it then things may start to go wrong. Drawing of lines is one of the ways an individual can understand his trade and make profit but it may not be the same for another person because they won't even draw the line from same spot, it just depends anyway.

Oshosondy

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Quote from: palle11 on April 05, 2022, 10:20:53 AM

Quote from: Oshosondy on April 05, 2022, 06:02:35 AM

Try and learn how to draw lines too to indicate the extend of price rise and fall.

Drawing of lines is still a biase way to trade because it is based on the individual mind or the way the trader decides to draw it out from his indicator like some are using Fibonacci which can also be like drawing of line. I think SMA, MA and RSI are better to show every trader worldwide how the market has formed, overbought or oversold too because they are same across the world depending on the time or adjustments done on them but drawing of personal lines is only personal.

You are definitely right, just that drawing lines indicates the extent of the overbought or oversold market. I have used it many times and it worked for me. What I have noticed in trading is that there is no one way in making profit, different analyses and approaches can be used to achieve a good result.

Bitcoin_Arena

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It seems most people are missing out one of the most important tools to determine the support and resistance of a given asset at a given time, that is the Fibonacci retracements. This coupled with either MACD or RSI can guide you well on spot market, mostly with coins of high trading volume and market cap.

Avoid using such indicators with shitcoins that can easily get pumped and dumped, or else you will get rekt.

24Kt

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Quote from: sheenshane on April 05, 2022, 05:57:34 PM

Options have been pointed out above and that's right, in addition, never forget to have a stop-loss limit and place your trade, this will help to minimize your loss because, in spot trading, you will make a profit when the market price increase and loss when it will decrease.

And next apply those tools examples given above, RSI, MACD and etc.
Get your FA and TA analysis to discover price trends using these tools MACD and Bollinger bands which are very helpful to forecast the price. And find automated trading alerts that can ping you when met with your expected price range.

In addition with the familiarization with those TA tools, much better if you will also familiarize yourself with the coin or token itself. It will give you idea why they are having such trend and where will they be heading next. Subscribing to their social media channels would also help as you can get some tips what are they having for immediate plans. Whatever they are publishing with their updates, will have a contribution on how they are performing in the market.

sheenshane

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Options have been pointed out above and that's right, in addition, never forget to have a stop-loss limit and place your trade, this will help to minimize your loss because, in spot trading, you will make a profit when the market price increase and loss when it will decrease.

And next apply those tools examples given above, RSI, MACD and etc.
Get your FA and TA analysis to discover price trends using these tools MACD and Bollinger bands which are very helpful to forecast the price. And find automated trading alerts that can ping you when met with your expected price range.

stomachgrowls

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Quote from: BitcoinIsABubble on April 05, 2022, 05:54:14 AM

Hello Bitcointalkers,

The subject of the thread is pretty self-explanatory, I am wondering which tools would you recommend for spot trading in particular.

•EMA
•RSI
•MACD
•BB
•Fibonacci (optional or situational)

Lastly, or in default... Support and Resistance line yet this would really be the common and much needed
on where you do at least know on where are the possible ceiling and floor in the current price.

Some indicators are not much needed on some certain condition but be sure on how you would make use of them
or when they would really be relevant.

goaldigger

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Quote from: BitcoinIsABubble on April 05, 2022, 05:54:14 AM

Hello Bitcointalkers,

The subject of the thread is pretty self-explanatory, I am wondering which tools would you recommend for spot trading in particular.

I recommend to learn every indicators and use what you think is very helpful for your daily activities.
MA, RSI, and MACD are the common combinations of indicators, they can tell you the trend but still if you know other indicators, you can confirm if your analysis is correct or wrong that’s why it is still important to learn more. Trading doesn’t end with those indicators, you can also look at the VOLUME and PRICE to see the future trend, this is a broad process but once you do master it, trading will be more easy for you.

Kelvinid

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Quote from: BitcoinIsABubble on April 05, 2022, 05:54:14 AM

Hello Bitcointalkers,

The subject of the thread is pretty self-explanatory, I am wondering which tools would you recommend for spot trading in particular.

Fro the numbers for trading indicators we have, but it was RSI and MACD are what I usually used as they seem to help me a lot when it comes to making analyses.
https://www.yoreoyster.com/blog/best-indicators-for-crypto-trading/

And as I read the above replies, they are also using this one. But of course, it is your choice if you use many indicators what is important is that you are comfortable with them and the results are also satisfying. But if were just new in trading, I suggest to focus on those tools I've mentioned above.

crwth

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Having a combination of trading indicators would be beneficial for you. If you have experience in trading, you would know that it's not enough to have only one. It would help if you had multiple indicators suggesting a predictable move in the market. That's why it's essential to have various charts that you would check because you will never know what could be happening in them.

I chose to use algorithmic trading or a bot to trade because I don't get much time to chart multiple times in a day since I have other priorities to attend to. The bot that I'm using is Gunbot, and that's how it's going for me.

Common combinations that I use is

Bollinger Bands
RSI

The combination of the two above makes it straightforward for me to trade. Some built-in strategies are grid strategies, which are hard manually to do but super beneficial to do.

palle11

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Quote from: Oshosondy on April 05, 2022, 06:02:35 AM

Try and learn how to draw lines too to indicate the extend of price rise and fall.

Drawing of lines is still a biase way to trade because it is based on the individual mind or the way the trader decides to draw it out from his indicator like some are using Fibonacci which can also be like drawing of line. I think SMA, MA and RSI are better to show every trader worldwide how the market has formed, overbought or oversold too because they are same across the world depending on the time or adjustments done on them but drawing of personal lines is only personal.

joeperry

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I only use 1 indicators in spot trading, RSI indicator to see if the coin is overbought or oversold. Other than that I also use support and resistance, trend line and bollinger band to analyze the market. It works for me at 15 mins to 1 hour time frame.

Some of us may have different tools or indicators it depends on what kind of strategy we are using or how are we see the market.

Oshosondy

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These are few trading indicators:
Simple moving average for long term trading (SMA)
Exponential moving average for short term trading (EMA)
Relative strength index (RSI) to indicate to say in the market for long or for short time

Some other ussuful indicators are:
Bollinga band
Oscillating momentum

Try and learn how to draw lines too to indicate the extend of price rise and fall. Always know that trading is highly risky, use the amount of money you can afford to lose to trade.

BitcoinIsABubble

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Hello Bitcointalkers,

The subject of the thread is pretty self-explanatory, I am wondering which tools would you recommend for spot trading in particular.

Topic: Which trading indicators/traders would you recommend? - page 3. (Read 439 times)