Topic: Which type of trading you think is good? - page 4. (Read 1256 times)

I hope you'll find it good. Trading can't be always successful, not even you have learned a lot or you have good strategies. The only thing that usually saves us from getting into mistakes is to trust yourself and not even bothered of what we've heard outside. I come into trading with no knowledge, not at all but I've taken all the losses as a way to improve and to prove that we can make it right at the right time. And this is to realize how important to make our own market analysis than rely on others.

I have repeatedly noticed that if you buy on the news, you can get a loss from such trading. In this case, everything will depend on the timely receipt of information. If you buy a coin during the hype after the news is released, then after it subsides, the price of the coin may be lower than you bought it.

The best thing is that based on TA, all expert traders have a very good understanding of doing technical analysis. Technical analysis cannot be learned in a short time, because this analysis also requires experience apart from TA theory, from this analysis we can understand how the crypto market is. Based on news it is also good, but there are many shortcomings of event news that we can know about, such as FUD, and very often market demand is not the same as event news where an easy example is a hard fork.

Technical analysis is a part of daily trading activities but its not a good idea to depend on it for every single trade. After spending a long time on trading traders can make their own choice list based on past records which give them confidence to move with their own knowledge.   
   
Before following anyone else you can apply your own experience which you have learned from your last trades. I don’t think its a wise decision to completely depend on other people’s prediction. Actually its a game of patience and experience IMO.         

I think all types of trading are good in time rotation. Different strategies work at different times. So all types of trading should be considered.

For me a good trader is someone who's open minded and open to any suggestion. you can't rely on your own guts. you need to learn how and when does the trend happen or about to happen. My suggestion is to watch online or local TL news that may trigger big spikes on the currency that your trading.

It depends on what you are trading.
If you are trading crypto, then know that you are dealing with a high volatile commodity that can make you rich or can make you poor if your decisions are bad. But, if you are trading stocks, specially of reputed companies, you will not be in a serious loss, so it's kind of risk free. I have recently started to invest and trade stocks and I feel it is less complex than trading crypto.

i am agree with this points, but once again we should not moved by single analisys technique only. besides news investors will take decision in which price they will entry based on technical analisys, impossible when they know good news released but price still in peak they will decided to buy. ofc waiting price corrected in support or resistance will be safe for them.

As far I know, it is any type of trading. If we are able to do it right, then we will definitely benefit from it while if we are not having a good strategy then nothing will work at all. I love it with FreshForex broker, as they have excellent structure with low spreads, high leverage, bonuses and variety of such offering.

To enlighten, technical analysis is the study of currency price movement on the charts while fundamental analysis takes a look at how the country’s economy is doing.

Market sentiment analysis determines whether the market is bullish or bearish on the current or future fundamental outlook.

Fundamental factors shape sentiment, while technical analysis helps us visualize that sentiment and apply a framework to create our trade plans.

Those three work hand-in-hand-in-hand to help you come up with good forex trade ideas.

It’s kind of like standing on a three-legged stool.

If one of the legs is weak, the stool will break under your weight and you’ll fall flat on your face.
The same holds true in trading.

If your analysis on any of the three types of trading is weak and you ignore it, there’s a good chance that it will cause you to lose out on your trade!

All the historical price action and economic figures are there – all you have to do is put on your thinking cap and put those analytical skills to the test!

Let me pull out that three-legged stool again just to emphasize the importance of all three types of analysis.

Take out one or two legs of the stool and it’s going to be shaky, right?

In order to become a true Bitcoin trader, you will need to know how to effectively use these three types of Bitcoin market analysis.

Don’t believe us?

Let us give you an example of how focusing on only one type of analysis can turn into a disaster.

👉 Supposedly you’re looking at your charts and you find a good trading opportunity.You get all excited thinking about the money that’s going to be raining down from the sky.You say to yourself, “Man, I’ve never seen a more perfect trading opportunity in BTC/USD. I love my charts. Mwah. Now show me the money!”

👉 You then proceed to buy BTC/USD with a big fat smile on your face (the kind where all your teeth are showing).😂

👉 But wait! All of a sudden the trade makes a 100 pip move in the OTHER DIRECTION! Little did you know, a national judiciary in US🇺🇸 had placed a ban on crypto! Suddenly, everyone’s sentiment towards Bitcoin ’s market turns sour and everyone trades in the opposite direction!

👉 Your big fat smile turns into mush and you start getting angry at your charts. You throw your computer on the ground and begin to pulverize it. You just lost a bunch of money, and now your computer is broken into a billion pieces.And it’s all because you completely ignored fundamental analysis and sentimental analysis.

(Note: This was not based on a real story. This did not happen to me even though it nearly did. I'm never this naive. I am always smart Bitcoin trader…. From the overused sarcasm, I think you get my point.)

Ok, so the story was a little over-dramatized, but you get the point.

Remember how your mother used to tell you as a kid that too much of anything is never good?

Well you might’ve thought that was just hogwash back then but in Bitcoin, the same applies when deciding which type of analysis to use.

Don’t rely on just one.

Instead, you must learn to balance the use of all of them. It is only then that you can really get the most out of your trading.

I prefer based on event news.. Why?
Because in both forex and crypto trading, event news affect currency price more than technical analysis. I've seen a lot of people loose their funds due to technical analysis and I've seen a lot of event news affecting both cryptocurrency price and fiat price.

I am the same, I prefer technical analysis over fundamental analysis because not only there are a lot of fake news circulating in social media the truth is that by the time you find out what happened most likely that movement that you're trying to capture has already happened, however I also believe that people should try to find their own strategy that fits who they are as a person and as a trader and if that means using fundamental analysis and they can get profits out of it that's fine with me.

Crypto trading as an profession and crypto trading as an opportunity to earn some bucks, there are lot of difference between these two type of traders and both can be effective as well as holds risk depends on how much profits they are looking to make but for now if you are an occasional trader just go with the trend but also its better to learn about technical analysis and other strategies if you are getting successful with trend analysis trading.

It depends on the trader I guess and which does he/she prefer the most, For me, I prefer trading base on news because I am not too good at technical analysis but I know some basics on technical analysis. With TA you need to focus on the indicators, charts, etc. and check it all the time. While if you are basing on news you just wait for that particular update  buy the dip and wish that it will skyrocket but it does pay off all the time, it is always a gamble. Using both might be better to lessen the risk.

It is only my question whether technical analysis is always helping even in any sort of market or you need to have knowledge about the fundamentals because in crypto, many people are saying we should always be strong towards fundamentals otherwise we cannot survive in the crypto market.

There is this popular saying that I hear almost in all groups I join related to cryptocurrency trading which is "buy the rumors, sell the news". If you observe closely that's exactly what's happening in the cryptocurrencies space which is why it seems what we just do here (in this industry) is pump and dump. Majority of the individuals involving themselves in trading focus more on the second category you highlighted, which involved trading based in news.

My question would be what about traders that focus on buying the dip of projects, I once met a users in one of the groups that I joined that doesn't buy any coin that isn't currently in lost. What will that strategy be categorized under and do anyone think it'll be effective resulting to profit?

for me i don't rely depend on event news i prefer more on the technical analysis since you would be able to analyze the change in the market in real time well sometimes i do read some event news but i think you still need to have knowledge about the project if you are going to base your trade on event news.

In this crypto market every kind of trading is very risky. You may happy because you took profit now and its happend with every one. You makes profit continues but one day you will loose everything what you made and what was yours in the beginning. Because price is manipulated by few people and exchanges. They can move price any direction and you can't do anything. Stop loss also not hit in many times and you loose everything. Leverage trading is more risky which is pramoted by big exchange for their own profit.

To really be precise about your targets you will have to analyse as much trends as you can.
You said you can achieve TA then you should consider doing that and along with that you should consider on other types of analysis as well.
Analysing the market through events and news and then doing a research on the fundamentals will make your target price more strong.
Hence you will be able to make your desired profits easily.

To get a good profit, you need to use both methods: technical analysis and news that relate to a specific coin. Everyone knows how the price is affected by news related to listing on the cryptocurrency exchange. And if we are talking about a listing on Binance or Coinbase, the price of a coin on such news can increase by 20-30%.