Bitcoin Forum

I am still a newbie trader and my primary concern is that I am still not a pro in making Technical Analysis and I end up usually with no profit or with slight loss because my TA is wrong. Any tips? Thank you in advance!

I don't know how you can be guided on this but I want you to understand that the understanding and usage of technological analysis differs. So while you are going through your journey of learning, avoid taking huge and unreasonable risk, read and research more. I wish you good luck.

Each has their own preference in doing tech analysis so I guess you should find a mentor that suits your style.
You may keep reading and analyzing what possibly went wrong from your previous trades.

it is quite normal to have loses at the first stage, but in order to avoid it you better compare your analysis with the other guys from internet such as in tradingview and if you see a huge difference among them than consider to review it before making any purchase.

It's normal to have them at any stage. There's not much we can really tell you because the market is acting irrationally at times. If you doubt that just take a look at people's predictions on tradingview. More than half of them is wrong. For instance during the last drop to 600 I've seen experienced users with hundreds of submissions saying that it's going to fall to 500, but it went to 10k instead. Don't be too hard on yourself, we all make mistakes.

Precise and accurate technical analysis wont really exist into this very volatile market of crypto yet theres are just only tools which are being used to indicate the support and resistance of prices of a particular coin and inputting those indicators arent really too hard or do require high-trading skills.If you do like to learn more about the basics there are lots of educational videos about TA's on youtube and in the past this is one of the things i done when im searching up basic trading with technical and it do helps but expect loses are inevitable thing because technical aspects wont really work anytime with cryptocoins.

Everything can be a risk at all times and even though we've done more focused researches, nothing will happen of you don't know the market strategy. Don't be afraid of taking risk because time will tell, depending on how hard it is you'll have the reason to hold those coins because you have a greener vision for your profit needs.

It would be nice if you showed a screen where you would mark the levels of support and resistance and noted your entry and exit points there. Be sure to use stop loss and take profit and if you do not bet, be sure to set them for each trade.

You cant consider as a wrong one yet technical analysis wont really work anytime into this very volatile market but having a proper technical analysis would guide you somehow on your trades it might not be accurate or precise to give the same or expected results but if you do mixed up with some fundamentals then it would be somehow effective.Just like on my part ive been doing both things news+TA at the same time you can observe on how your trade performance goes.

Always watch the market before you place sells order. More so, if you are into daily trading, once you purchase, place sells order in 10 or 20% profit. Learn step by step.