Would you advise a focus on indicators or the market itself for a newbie. - page 3.

Fatunad

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Quote from: virasisog on July 12, 2022, 01:09:32 PM

Indicators aren't 100% accurate but it provides a big help, especially for those who are struggling to analyze the market as well as the possible movements of coins. A newbie could rely on indicators but he must know the basics first and the importance of dealing with the volatility of the market as well as the fundamentals of trading so he would basically understand how indicators work.

There's no such thing about 100% accurate and we know that it cant be possible but its true that indicators do provide a great help at least on foreseeing things which you cant see on just staring up on a chart.
You could really have the basis and able to make analysis based up on what you do saw.So to speak about fundamentals and indicators then it would be ideal or good to have both.You could always combine
the two and just by said by others that not all the times that the market will create some news and events which you would tend to make use but if you cant see something then its just
right that you would make use of indicators so that you could make out decisions on different market conditions but of course it wont really be easy as it sounds.

Franctoshi

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Quote from: Lida93 on July 10, 2022, 01:24:16 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?

I recommend you use both beacuse human makes mistake and the indicators are lagging sometimes so in order to get your analysis a bit right you need the combination, even the professional traders do use indicators to confirm their analysis sometimes, those tools are part of technical analysis but pay very much attention to the structures or pattern and market behavior then use indicators they're there to support you and it will serve you as a tool for confirmation in regards to the key areas of support and resistance. Therefore you can for both, try it out it definitely gonna help your trading analysis.

Husires

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I am still in the learning stage, but I benefited from some of the topics related to technical analysis in the forum, which helped me avoid some losses:

Thanks @ImThour

this is an example of what technical analysis can do in the long run.

Day trading is profitable if you reach advanced stages in technical analysis and you have an intuition of how the market moves otherwise, you are risking with your money and you will make losses.

virasisog

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Indicators aren't 100% accurate but it provides a big help, especially for those who are struggling to analyze the market as well as the possible movements of coins. A newbie could rely on indicators but he must know the basics first and the importance of dealing with the volatility of the market as well as the fundamentals of trading so he would basically understand how indicators work.

danherbias07

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Without indicators, it becomes more of a "guessing" state. As you said, instincts.
It helps, but it doesn't make it accurately correct. Where would you put a newbie if you won't point him with indicators? There's really not much of a choice there.
It's still fresh in my memory of when I was a newbie without anyone teaching me. I go manual, monitor the market, use the candles, sleepless nights.
That's what I will suggest to them.

el kaka22

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Why not both? I mean fundamentals of a coin means that you have to check how legit it is, and if there is anything that could go wrong out of sudden. There are not too many like that but there are "some", specially on the new ones.

However, if you end up checking it you will realize that there would be some wrong stuff in their blockchain which you wouldn't want there. That's the fundamental approach. Indicators on the other hand are smaller time frame stuff, not a terrible way to look at things if you want to trade daily, like 5 minute candles for example on a trade you want to finish up in under an hour for example, buy and sell all within that time period. Not bad, if you know how to do it.

South Park

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Quote from: Lida93 on July 10, 2022, 01:24:16 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?

Indicators are just a bunch of math formulas which allow you to see more clearly some aspect of the market and then take decisions based on them, however it is important to remember that there is no indicator that can predict what the market will do, so it always important to look at the big picture and try to read what the market will do or the overall direction the market has at the moment, if you do not do that and only trade by using indicators then the accuracy of your trading strategy will always be on the low side.

SquirrelJulietGarden

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Quote from: adaseb on July 10, 2022, 10:47:04 PM

Indicators never work 100%. Many new people find some ebook or course and it teaches about indicators like MACD, RSI, moving average, etc and they think it’s that easy. Doesn’t work like that.

If it worked 100% of the time, nobody would work. Everybody would just trade. You only use indicators to get some confirmation but you need other signals whether to buy or sell. You can’t just rely on a signal indicator. A better indicator is trend. And maybe general sentiment.

I'd like to say don't analyze too much with technical indicators as they don't work 100% correct. You nailed it.

Moreover, trading and watching technical indicators too much will bias your minds. As a consequence of it, you will make bad decisions. Instead of technical indicators, you should spend more time to watch fundamentals and focus on investment. With investment, Dollar Cost Averaging is best.

Websites for Dollar Cost Averaging DCA

Mahanton

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Quote from: Lida93 on July 10, 2022, 01:24:16 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?

Stick with indicators because even though those indicators arent precise but it is really much better compared on trading up on something which you arent using things or tools because it is really just a pure gambling when you do make out calls and price predictions basing on hunches and intuition which is something not that recommendable.Better make yourself able to practice with those indicators even though it is really hard but it would really be worth on the time and effort that you had spent out if you've been doing this for a long time.Practice makes perfect as we do all know.
Dont make yourself just trade off without any basis or analysis and also a reminder that dont make yourself that too impulsive when it comes to fuds and fomos in the market.

seleme

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There are various methods to analyze the charts, the most known functions to follow market trends are based on indicators based on price derivation. The indicators just make it easier for traders to check what is happening on the graph and find the best entry or exit price points to minimize risks. Trading with naked charts is the best for pro traders since they can spot trading patterns with looking candlesticks. Using indicators or oscillators can be helpful for newbies to get in or out at the right timeframe and best possible price area.

jostorres

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Quote from: Lida93 on July 10, 2022, 01:24:16 PM

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.

That was normal because that was trading all about (mostly technical analysis) and focuses on indicators but a trader must also allocate something for fundamental analysis which does focus outside of the market. The two are needed in order to have a better success rate on trading.

As a newbie there might be other important things that they need to learn first. It is also normal to experience a failure when we are starting on something but obviously this should not stop us to continue and to improve ourselves more. Only those who quit easily are the real failure because they don't have a commitment on everything that they do.

blockman

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There's no guarantee with all of those indicators but I'd say for a newbie, it's not just all about indicators but also the fundamentals. Sometimes, it's really surprising that our indicators don't really work and expect it to be like that at most times.
I'll also say that focus on gaining more experience first and they'll get to learn where they're good and comfortable about all of these strategies in trading if they want to pursue it.

palle11

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Quote from: adaseb on July 10, 2022, 10:47:04 PM

If it worked 100% of the time, nobody would work. Everybody would just trade. You only use indicators to get some confirmation but you need other signals whether to buy or sell. You can’t just rely on a signal indicator. A better indicator is trend. And maybe general sentiment.

Of course indicators are based on your interpretation to make them work for you true. The trend tracing and other things concerning the analysis of market is still under indicators. The indicator that you have and analyse maybe different from another's own but they are all indicators to help you on winning the market. Therefore based on the indicators they are 100% IMO but depending on your analysis of it and that makes it below depending on the ability. Although I'm sure no body can give 100% analysis of the market continuously and some reason are uncertainty and fear.

adaseb

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Indicators never work 100%. Many new people find some ebook or course and it teaches about indicators like MACD, RSI, moving average, etc and they think it’s that easy. Doesn’t work like that.

If it worked 100% of the time, nobody would work. Everybody would just trade. You only use indicators to get some confirmation but you need other signals whether to buy or sell. You can’t just rely on a signal indicator. A better indicator is trend. And maybe general sentiment.

Oshosondy

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Quote from: Lida93 on July 10, 2022, 01:24:16 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?

Let me be specific about trading, this my post is not focused on holding at all.

What you said is like you do not have a matchet and you want to kill a bull with your bear hand, or like you want to kill a lion with just your hand because you do not have a gun. If you want to kill a bull, you will look for a machete and knife. If you want to kill a lion, you need a gun. If the right equipment is not used, you will find yourself dead. In trading, that dead represents losses while the equipment used for you to kill or defeat the lion are the trading indicators. If you trade without indicator, it is like a lost sheep, the losses would be great. New traders should have to learn indicators, they are not hard to learn if they concentrate in learning them.

sheenshane

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Might they have seen indicators has an almost accurate result in trading but IMO, this is just only a tool in trading.
You're still predicting the unpredictable market and using indicators, plotting the historical data, and hoping it will result in repeating itself.

Quote from: Lida93 on July 10, 2022, 01:24:16 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?

Newbies, shouldn't rely on technical indicators, sometimes they need to consider too, the fundamental indicators.
Both are useful in trading analysis.

JeromeTash

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But indicators are a result of historical data or market movements. Maybe one thing I can suggest to newbies is to just invest (Buy an asset like Bitcoin on spot market and hold long term) if they don't like the headache that comes with technical analysis.

But if one is going to do day trading, there is no way one can trade minus looking at the indicators and price action.

jackg

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https://bit.ly/387FXHi lightning theory

I think you're best working out of you can spot short term strategies/patterns by looking at the market's price action and seeing what patterns it produces.

Indicators are good for determining whether your expectations are going to be supported but I don't think they should be used on their own as they will make trading less acurrate and drop your chances of success.

The Cryptovator

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It hasn't been discovered yet how Bitcoin or cryptocurrency move up or down. Yea, we all know that when buying pressure goes up price goes up, and as sell pressure increase price fall. But we don't know the reason and why these sentiments will be active. Indicators or charts show you history, not the future. You have to determine the future from past history. That's why people follow indicators or charts. What else could analyze? Sometimes a few projects have good news and price go up. But this isn't something we can research.

palle11

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Quote from: Lida93 on July 10, 2022, 01:24:16 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?

Not trading with indicators is more confusing than you think, you can't trade the market without indicators. Indicators are your guide whether a newbie or an experienced trader. Learning indicators is important, if a newbie is having confusion using a particular indicator it is better to change it and use indicators you can understand. The advise is that indicators are very important to trade

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