Topic: Would you advise a focus on indicators or the market itself for a newbie. - page 2. (Read 522 times)
July 18, 2022, 06:51:30 PM
OP, put it this way – would you rather draw a straight line handsfree when there's a ruler? I guess you know the answer to my question. Trading without indicators is more or less pure gambling. While I acknowledge that trading is speculative in nature and there's no perfect handle on it, I would rather not trade at all if I'm not going to rely on at least a single indicator to pick my trades. In doing this, I tend to rely heavily on leading indicators as against lagging ones. How do you assess market sentiments and bias if not through the aid of indicators? Anyone who tells you otherwise isn't being honest with you on this one.
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July 18, 2022, 01:02:19 PM
Indicators are helpful when it comes to crypto trading but they can also be a dangerous or destructive weapon for newbies and the best thing every newbie should do is to first focus on understanding the market itself which will help newbie to understand the fundamental aspect of the market momentum when they started using the indicators.
July 16, 2022, 05:54:12 PM
Here is my advice. Learn the logic and philosophy behind indicators and you don't need to use many of them. Traders who use just horizontal support and resistances can be insanely profitable, while traders who use a myriad indicators like you see on youtube for example with all those fancy charts most of the times are unprofitable.
Using plenty of indicators also complicates your judgement in trading. Mastering atleast 3 for me are already good enough for me, RSI for overbought/oversold market condition, EMA/MA for support and resistance on different timeframe, and volume that indicates how much is being traded. It isn't necessary to learn more as long as your trades have high sucess rate in your technical analysis.
July 16, 2022, 07:27:48 AM
Here is my advice. Learn the logic and philosophy behind indicators and you don't need to use many of them. Traders who use just horizontal support and resistances can be insanely profitable, while traders who use a myriad indicators like you see on youtube for example with all those fancy charts most of the times are unprofitable.
Using plenty of indicators also complicates your judgement in trading. Mastering atleast 3 for me are already good enough for me, RSI for overbought/oversold market condition, EMA/MA for support and resistance on different timeframe, and volume that indicates how much is being traded. It isn't necessary to learn more as long as your trades have high sucess rate in your technical analysis.
July 15, 2022, 07:57:45 PM
On a daily basis, many persons pick interest in cryptocurrency trading but eventually get scared never returning cause may be due to one or more losses serially experienced in the trading due to perhaps their focus.
Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
Though indicators helps a trader to plan a trade especially the trend indicators like EMA (Moving Average) however too much reliance on indicators on a chart will give conflicting signals that can make or mar a trade, I wouldn't encourage a newbie to depend solely on indicators, Personally I focused mainly on Price Action of the candlestick patterns with two indicators namely EMA and RSI which serve as a guide, I trade breakout candlestick which signifies a possible change in a trend with volatility and momentum in that direction all these requires a long hour charting time experience which a newbie is expected to learn and study Price Action.Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
or indicators which would really be giving you at least some idea not rather just making some baseless actions which would really be totally considered as gambling.
You can have some that beginners luck but not all the times you would really be ending up on profitable trades because when you do face up the reality
of this market then you would really be finding yourself on having that challenge on patching it up.
July 15, 2022, 07:33:02 PM
Traders have never succeeded without using this, that was the reality of having these tools exist in trading as it helps us to make our trades more reliable and profitable. That is why it is recommended to use at least 1 or 2 as old traders already value these things and know how effective it was in the actual scenario. The more we got into trading, the more we realized its importance, especially when creating TA.
I know it was an additional task and burden that newbies must have to know but yes, it was a part of learning trading that you need to consider.
I know it was an additional task and burden that newbies must have to know but yes, it was a part of learning trading that you need to consider.
July 15, 2022, 04:32:10 PM
Here is my advice. Learn the logic and philosophy behind indicators and you don't need to use many of them. Traders who use just horizontal support and resistances can be insanely profitable, while traders who use a myriad indicators like you see on youtube for example with all those fancy charts most of the times are unprofitable.
Choose an indicator. Master it. Then add more if you see an improvement of your returns by doing so.
There is a lot of junk trading material out there. Try to understand that marketing get rich quick indicators and done-for-you black box systems is an industry for making money out of retail traders. Do not get caught in the trap.
Choose an indicator. Master it. Then add more if you see an improvement of your returns by doing so.
There is a lot of junk trading material out there. Try to understand that marketing get rich quick indicators and done-for-you black box systems is an industry for making money out of retail traders. Do not get caught in the trap.
July 15, 2022, 01:59:16 PM
On a daily basis, many persons pick interest in cryptocurrency trading but eventually get scared never returning cause may be due to one or more losses serially experienced in the trading due to perhaps their focus.
Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
Though indicators helps a trader to plan a trade especially the trend indicators like EMA (Moving Average) however too much reliance on indicators on a chart will give conflicting signals that can make or mar a trade, I wouldn't encourage a newbie to depend solely on indicators, Personally I focused mainly on Price Action of the candlestick patterns with two indicators namely EMA and RSI which serve as a guide, I trade breakout candlestick which signifies a possible change in a trend with volatility and momentum in that direction all these requires a long hour charting time experience which a newbie is expected to learn and study Price Action. Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
July 15, 2022, 11:37:17 AM
There are different types of newbies to be honest first one who is in crypto investment for long time but now they want to start trading crypto because they feel return here is more than simply holding, next one is people who is having knowledge about trading like forex but completely new to the cryptocurrency market then the amateur newbie with no previous knowledge just lured to the market with hype of influencers about cryptocurrencies especially at the time of bull market peak time.
So the strategies can't be same for all of them, it depends how they understand the market and adopt to the condition also it depends on their financial appetite so for me trading cryptocurrency is for anyone for them indicators is not the primary key the all important is knowledge about crypto trading and its volatile nature.
So the strategies can't be same for all of them, it depends how they understand the market and adopt to the condition also it depends on their financial appetite so for me trading cryptocurrency is for anyone for them indicators is not the primary key the all important is knowledge about crypto trading and its volatile nature.
July 15, 2022, 10:29:21 AM
Some people are very skeptical about that but they soon come back and used them knowing how it affects our decision-making and of course, it was highly recommended when doing this.
I won't say we need them all, just choose the tool that we think can help us a lot. And we keep in mind that this never assure everything to be fine, it still need hard works.
I won't say we need them all, just choose the tool that we think can help us a lot. And we keep in mind that this never assure everything to be fine, it still need hard works.
Like some people don't like the idea of stop loss but at the end they will come back to make use of it. Just as said all tools may not work though but we have to research on the type which work for us. I used trialing stop at a time but I realized it is better with a volatile market. From time to time we can do a review of our indicators and see what we can change or upgrade within them especially if we are experiencing losses.
July 15, 2022, 10:06:38 AM
Sooner or later, once you are in trading you got to realize how important these trading tools especially when it addresses TA. Having focus on them gives you the bigger chance and positive results. Some people are very skeptical about that but they soon come back and used them knowing how it affects our decision-making and of course, it was highly recommended when doing this.
I won't say we need them all, just choose the tool that we think can help us a lot. And we keep in mind that this never assure everything to be fine, it still need hard works.
I won't say we need them all, just choose the tool that we think can help us a lot. And we keep in mind that this never assure everything to be fine, it still need hard works.
July 15, 2022, 08:40:54 AM
Indicators are based on the market, however, you need to fully understand what it means for you to get benefits on it, otherwise you'll just waste your money by trusting your indicators without any knowledge about it. Also, trading as a newbie is hard, you need a lot of time and money in order to reach the level where indicators is your profit maker, not your half wit analysation based on your own instinct alone.
July 15, 2022, 04:52:51 AM
Indicators helps you a lot in planning your trades so a newbie must really learn about it if he wants to be successful in trading. If you don't want to learn any of these indicators then you're just basically gambling your money in trading. Learning basic indicators like MA, RSI, and volume is already enough to me for a newbie to start with. Once you know how to use these, you could strategize your entry point and selling point in trading.
Trading in Crypto is difficult for Newbies who don't follow the right process rather the ones that mingle for fast way to trade and they always end up losing or even get their trading accounts liquidated. Perhaps it's hard to see a newbie study Technical analysis but it's for their own good because they always are eager for Profits. Indicators are mainly use by professionals or experts who have been long in the space but it's not a bad idea if a newbie know the basic strategy of the market. July 15, 2022, 12:28:26 AM
Indicators are important as they help traders to make more informed trading decisions. Without them, trading could become complicated. So, Yes, they should trade with indicators, but shouldn’t make trading too complex.
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July 14, 2022, 08:32:36 AM
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
Why will you trade without indicators, anybody doing that is just gambling and not trading which is what majority of the so-called traders are doing nowadays. You can't just based your assumption on the feeling you're having about the market. The is the exact reason many will caught at the top of the market. All indicators were pointing to a downward movement of the market but people were still buying the overpriced projects in anticipation of a sudden spike in price as many so called influencer were suggesting the market still has one more spike before the bears take over.
When you don't tarde with indicators, you're blinding trading which is very risky that I won't advice any newbies to engage in such practice. Inductors gives you an insight of how the market has done in the past and the only way to predict the movement of the market is by looking at passed record.
July 14, 2022, 06:57:59 AM
Indicators helps you a lot in planning your trades so a newbie must really learn about it if he wants to be successful in trading. If you don't want to learn any of these indicators then you're just basically gambling your money in trading. Learning basic indicators like MA, RSI, and volume is already enough to me for a newbie to start with. Once you know how to use these, you could strategize your entry point and selling point in trading.
July 12, 2022, 10:11:08 PM
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For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
If you are trading and using technical analysis, for me, indicators are very important. It will help you to decide your move, it will help you to plan about your trade position.For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
There are a lot of traders, especially those newbies who tend to stop trading after how many wins or losses, they should practice being consistent. Because, the longer you stay, the more you will learn and master the market.
July 12, 2022, 07:58:25 PM
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
Like, how do one trade without indicators? How do you get to analyse the market? Like you just look at the trend and feel its on the rise then you jump on it or some other means because I don't follow.Indicators are a way to analyse the market. Trading has become a highly professionalised field for anyone to just try to gamble on traded and be expecting a good result. It can't happen, trading isnt gambling and so, you cant just look at the chats and place a buy or sell at any point. You have to do some analysis with your indicators to give you an insight on what's going on, who seems to have more momentum in the market and are leading then, you would know what to do. I'll advice you take indicators seriously, they do help.
if you want to lose money fast, then, yes, you don't need any indicator to check about. to understand more about this market, indicators are very important and it varies from one coin to another. you can't apply certain indicators to all coins as they have their own phase of developments. aside from indicators, it is best also to keep yourself updated with the developments happening in the coin that you are trading with.
July 12, 2022, 06:35:28 PM
On a daily basis, many persons pick interest in cryptocurrency trading but eventually get scared never returning cause may be due to one or more losses serially experienced in the trading due to perhaps their focus.
Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
from my understanding I captured that why some people while people lose interest in the cryptocurrency when they adventure into it. It's because cryptocurrency is hard to predict and it's a decentralized currency, which many people think when they get into it they speedily make it without waste of time. That is the major reason while cryptocurrency people who don't know the real function and the way about dont continue with it. Today almost all of the internet sites, trading books/newsletters, seminars etc, focuses on indicators (which is all about analyzing) instead of diverting a good percentage of focus on the market.
July 12, 2022, 06:23:29 PM
For the purpose of discussion. Owing to the complexity and how confusing indicators could be, which would you rather advise for a newbie to place much focus on between the Market (trading without indicators), and the Indicators, and why?
Like, how do one trade without indicators? How do you get to analyse the market? Like you just look at the trend and feel its on the rise then you jump on it or some other means because I don't follow.Indicators are a way to analyse the market. Trading has become a highly professionalised field for anyone to just try to gamble on traded and be expecting a good result. It can't happen, trading isnt gambling and so, you cant just look at the chats and place a buy or sell at any point. You have to do some analysis with your indicators to give you an insight on what's going on, who seems to have more momentum in the market and are leading then, you would know what to do. I'll advice you take indicators seriously, they do help.
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