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I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors  please mention , and if  of you know  books where I can learn those  please mention book name            thanks

Obviously Technical Analysis alone won't help you to a successful trade. It has to be a combination with other factors such as Risk management and those you have mentioned
I have been using TA for sometime now since late march this year (it's the time I decided to do serious trading and I have) and i have made something like 32% profit though i haven't been consistently trading daily yet. I think i would have made more if I was trading full time.
Quite very effective if you are willing to taking small profits per trade and not be so greedy.

Technical analysis is useful only in the case of inaccurate forecasting of the market path "range and stability" but the prediction of the rise or fall depends on factors such as:

 - Mempool: more unconfirmed transactions, the higher the probability of price rises.
 - News: divided into news affect the price directly, such as news of hacks and regulation and news affect the price in the future, as ETF accepted.

This is my personal experience and not reliable.

We can easily say that using a single indicator is insufficient to think that many indicators, especially in crypto money trading transactions, are inadequate, they give erroneous results and sometimes they are facing negative results. Unlike other money markets, this market is subject to independent volatility, volatility and there is no state regulation in many cases, it is also possible to say that these indicators will be wrong. In particular, we should not use only one indicator. Another point I would like to point out is that technical analysis is not as effective as it was in the past and that it is not sufficient in almost all areas.

Not all technical analysis can gives 100% success this is only a guideline when the direction of altcoin price will go on, using some indicators can give you idea when you enter the market to make your trade success. Based on my personal experienced using technical analysis is good to learn to minimize the risk you will encounter to trading.

When you are preferring crypto trading over Forex ones then technical analysis wont really be enough here on crypto market.

•Fundamentals/News

Is the thing should be mixed up with TA's when you do make trading.You cant rely alone with technical analysis.Try to collaborate and you will see the difference.

For me it's not enough thing to become successful in trading because it will become useless if you are greedy and you have no enough experience with it , 'cause that's the most important wherein experience not just knowledge, so that you can build your own strategy that can reduce loss and etc in doing trading.  That's why more people saying educate your self first before entering on it because that's can help alot when trading.

Technical analysis is something that is in number two, for me experience is a very important thing when we decide to trade.
learn from experience because the more experienced we are, the smarter we will be in making decisions.
With experience too, we will be able to make the best analysis possible.

If you can have the ability not to be greedy as the above suggested then you can make it with TA. There is fundamental which is news but a good money management will help "a novice trader".

Thus, in my experience so far, I have seen that greed kills an account faster than you expect. So avoid being greedy, take little profit and don't stay long in the market if you are a daily trader.

In my view, being successful in the cryptocurrency market requires a broad understanding of the fundamentals as well as technical analysis. Babypips.com is a great site to learn technical analysis, and there are plenty of Youtube videos covering the basics. Getting a mastery of technical analysis requires lots of study and practice with the markets.

Technical analysis is more useful in forex trading. In crypto trading only technical analysis wouldn't do, you have to gain practical experience only then you can be successful.

Technical analysis is what makes me uncertain about my portfolio. I usually analyze the basics and buy them at low prices and long-term holdings.
I think basic analysis is quite important because the core values will never be lost.
You can buy Warren Buffett's books and read about him. he will show you how to do basic analysis.

Doing technical analysis alone cannot guarantee you to become a successful trader. Remember that trading is a multi-factorial skill that requires various experiences and skills in order to become successful. I strongly suggest that you study the market through considering the internal and external influences on the coin. Furthermore, confidence is something that is gained through experience.

I am not aware of any books that teaches the basics of trading but you can browse around this section of the forum as many people have provided their personal tips and experiences in order to become a better trader.


This is actually what most day-traders do. They accrue small profits from their transactions but they have to develop an exit strategy to know the limits of their trades. Multiple small trades with small profit margins may be profitable but it might be difficult to recover from ONE BIG LOSS from a trade.

Trading activities is a complex venture and it requires mastery of the complexity. This therefore means that our understanding of the market shouldn't be one sided, meaning that technological analysis alone won't be enough.

The sentiments in the market are plenty , news also plays its own part. In fact, if we want to succeed, we have to keep understanding the market daily with every thing we can including the technicalities.

Hi there,

Well, market is highly volatile unlike forex so there are almost countless of factors and your luck has to play its part because admit it.. We are gamblers... at least every trader is.. to honeycomb it.. we are risk takers...
But somehow.. the more visible factors here are

1.how the crowd does it
this is without a doubt, the most essential but the most vague indicator. we are traders because we interact with each other through exchange.
example. see how the prices become more volatile as the crowd get driven by the news.
enjin really got the crowd with its partnership w/samsung


2. how the big guys does it
somehow there are large entities that can manipulate or bring a major change in market using their resource or influence
exhibit A. the sudden jump of bitcoin last april fools (this is still a conspiracy)
exhibit B. Xlm was down last March 2019 because they are giving out xlm through coinbase (this is based on my assumptions)

3. how you do it
welp. in the end, no matter how experienced you are.
it all comes down to you mate. it depends on "you" factors.. (mood, development, resource/capital, social network...)

There no way in which only technical analysis will help you make an informed trading decision because there are other factors that has significant impact on the market such as fundamental issues in relation to crypto currency market.

Obviously, it will not be enough and others have pointed out that TA is not applicable in this market because this is a purely speculative market and prone to manipulation. I guess TA will have it's strengths but you need to understand what the current sentiments are. And this is very difficult to gauge because the only indicator that you can used in the news around, this community view towards a certain events (FUD). I guess if you have that experience and has been playing in the market for long, you will understand what I'm trying to say here.

Trading on the basis of technical analysis sounds posh, hence a lot of traders use such terms. However, majority of the trade on the basis on news! Let me give you one example how it works,

Back in early 2018, an airline company of my country was making huge losses and was on the verge of getting closed. The management was talking with the lender to restructure the loans using their property and what not. The share price reached at 19 bucks from 221 bucks earlier. I was following the news very closely.

Suddenly an experienced businessman and a former cabinet minister decided to infuse funds in that company to revive it. I got this news from my morning newspaper and invested a good amount of money in their stocks as soon as the market opened.

Now today, their stock trades at 94 bucks each. You can understand how much profit I could have made today. Unfortunately I sold those shares at 41 because I needed urgent fund. But it shows that news is the most important asset to every trader. There is nothing more important than news in the stock market.

Technical analysis is for posh traders graduated from expensive B schools. Traders grown from the streets, relies more on news!

Technical Analysis or also referred to as TA is not enough for you to succeed in trading. Of course, without viewing news online you cannot get your success out of that. It because all cryptocurrency coins are connected to the news that's why whenever someone produce a FUD in bitcoin. It affects the growth of it. You can see it go down.  

It's hard to say, but it could be possible if you can master the technical analysis and you can hard work to understand how the technical analysis works. Maybe my suggestion is you need to learn how to analyze the market and not from the other people. You can always get information from other people but you must analyze by yourself, so you can determine what is going on with the market and if you can find a way to enter the market with a good price, then you should do. With many practicing, I am sure that you can get more information and you can add more skills to helps you to trade.

It is never "enough" to be great at trading, there is absolutely nothing that will make sure you are great at trading aside from being super lucky. Even if you are a great trader sometimes you get unlucky and there is not much you can do about it. That is why you should try to focus on making everything about trading your expertise and work on everything not just technical analysis.

Yes, without technically analysis you are going into trading without knowing enough, so if you want to be a good trader you need to know TA very well but just because you need to know TA well doesn't mean you will become good at it, it just prevents you being bad at it. So look at everything as experience you get along the way and when you level up enough times you become a good trader.

Technical analysis will only give you speculation and guidance when making your trading decisions. There are also other factors that will help you on trading, such as what you have mentioned. And to add, experience and being cautious and discipline when trading will help you a lot.

If Technical Analysis is enough then I think everyone should be rich by now. It is just a guide or a tool but you can't really rely on it.

And besides, the ecosystem is fairly young that's why it's really hard to do analysis on it and say for certain that the graph will move in this or that direction.

Technical analysis alone is not enough, I think we need to cultivate more knowledge to evaluate a business. Sometimes the chart will not be able to say anything. You know, there are a lot of tokens being traded because bots and charts do not tell the actual situation. so we need to combine both to get a great investment strategy. and Warren Buffett is very good at this.

Technical analysis is a part of success on trading but it's not enough. You have to combine market trends, project updates, news, etc. Everything need for successful trading. Your analysis always would not be correct. Lot of thing related with trading. To be honest I am not much experience with technical analysis but most of my trade has been become successful. Howeve, you always need patience and I believe you have that. But really we can't expect that our all trade will be successful trade.

Trading is a zero-sum game. When you earn 1 Bitcoin it means you took 1 Bitcoin from others.

Therefore if there was one single tool that allowed you to take Bitcoins from others, this tool would work for others as well, taking Bitcoin from you.

As you can see that'd make no sense.

Therefore there isn't any single tool or method to make $ trading. You gotta outsmart competitors all the time to make $ trading and that's why most traders end up broke in the long run.

Basing your trading decisions exclusively on technical analysis is one of the worst mistakes that anyone involved in this business can commit. In fact, there are opinions of experts and academics who declare that technical analysis is nothing more than a pseudoscientific superstition that has never been able to demonstrate its usefulness in predicting any potential market movement, and its effectiveness does not go beyond random guessing.

Therefore, focus on monitoring the prevailing market environment, as it seems that you will be more fortunate if you move according to the feelings of the market, because purchases and massive sales always have an emotional trigger.

Technical analysis is the most important thing for investors to get confident with the future but it will not only important for your confidence about your investment that will be lots of things must be known by you then only you can keep up with the hope and knowledge for the future.

News is a big part because most crypto do react with these development announcement or whatsoever.It would really be
needed for it to be used together with Technical analysis.Same as yours im not really into charting because mostly i do always
see for news to make my own trading entries or exits.

Technical analysis is not enough in trading because it is not possible for a bird to fly with one wing.  You are to combine both technical and fundamentals analysis in other to be able to trade profitabily and seriously reducing risk of your capitals been wiped out because of news.

- Exactly, technical analysis only gives us an overview of the market or a certain object, and with such little information and data, it will not be enough for us to make appropriate decisions or predictions, many traders have confessed that they are very good at technical analysis but success still does not come to them in trading. Because except for technical analysis, we also need to know more about other factors such as market news, trends, and events that will happen next, these are very important factors that can change and reverse our technical analysis, so we need to consider more.

I believe one of the reason why we feel T.A is not enough for us is because of the lack of total trust in it, if we believe in our T.A strategy provided we are really good enough to analyses and not at the same time fighting its prediction off without emotion, then we should not have any issue.

Although T.A may not be completely accurate without mixing it with fundamental analyses, we have to also check the things around us like what is the news is saying, comparisons with other analysis and many more before concluding that what we got out of our technical analyses is the final answer to that particular trade. Once we are able to get these right, then we will no longer have issues with our T.A

Of course it is not enough, if someone can be successful trader only with technical analysis I think everyone won't loss their funds too much. Technical analysis is important to guide you make a decision but imo you should combine it with fundamental analysis.

Not it's not enough and sometimes different technical analysis will give the different result, you need to observe more detail by searching the news and follow the trend, having a lot of experience will give you better way to handle the problem, in my experience follow trend is better than technical analysis

Technical analysis don't work for me very much. I use it once in a while but majority of my successful trading are based simply on "Buy Low/Sell High".  Though Technical analysis worked for me in the past, it fails me most times these days.

Technical analysis isn't enough to be successful in trading. You must also use your guts because it will not be a good trade if you're just basis depends on just one principle. You have to also place yourself in different perspective in order to make your decision making pricise and correct.

Its good that you know technical analysis because other traders specially newbies lack technical analysis and they just rely on signals from sources like from telegram groups. If you can learn how to control your emotions plus know technical analysis then you sure are going to make it big in trading, just keep the greed in moderation. Greed sometimes takes over our decision making.

in most of the time it will enough for the prediction of future and technical analysis will be the most important equipment for everyone to keep their confident level hire in their expectation and making them will be more important than to be executed properly while investment.

There is more than one style that can be successful for trading. There are traders who look solely at technical analysis, and those who look solely at fundamental analysis, and most are in between. Generally, fundamental analysis is better with a longer-term perspective, and technical analysis with a shorter one.

Money management and tone of experience. Don't be scared to open trades. Do them as much you can and learn form each. Start with minimal bet (thats ~5$ on binance). What can go wrong? -20%? that's whole 1$. And what you've learned is priceless. Trade as much you can.
For TA trades choose only coins with volume >200 - 500 btc. TA don't work on lower volumes because every small investor willing to exit his 5000$ will destroy chart.

Making use of technical analysis in the crypto market will not take you so far in the trading world of crypto because the market is very volatile and anything could happen at any period of time, this is why we should be very watchful and also checkout events before trading a coin because event can be one of the major factor that would determine either the price of a coin will rise or if the price will fall. So, we don't just need technical analysis but we also need fundamental analysis to succeed in the crypto market as of today.

In crypto trade, absolutely no. Because the technical analysis is not working properly. At least with the TA, there are very few people who can determine the price for future, and they are unlikely to be right.

analytical techniques are indeed one of the major supports in the successful trading of crypto currencies, but courage and confidence in decision making are also very necessary in the success of a trade.

Technical analysis is to find the movement of prices but if you having this as your only skill then you won't be successful trader.Decision making ability is one of the big thing needed if you need to be a successful trader and also clear mind of how much profits you are aiming for will make you to reach your goal.

The cryptocurrency market is heavily driven by news. You have to be one of the first receivers of critical news like security leaks, states banning coins etc which usually have a huge impact on the price.
To get such news as soon as possible you have to play various media, beginning with twitter where news usually are posted immediatly. Blogs are often useful too, but they are usually lag behind other media.

Using up Technical and fundamental would really be highly suggested or even just using up fundamentals would do but these news or informations
doesnt come out anytime thats why we do substitute on using up technicals on a particular normal day trading on the market.
Success will depend on how you do able to sustain or survive the market for long.

it is the important factor for the trading to be successful but technical analysis is not only the important think and there are analysis with other things is also been helpful for you to make the stand that in your trading that's why I am saying this.

Perhaps technical analysis is the most inadequate way to approach trading in the crypto market, because that theory of economic analysis was developed many decades ago, based on economic concepts that have nothing to do with modern times, and even less with a market as disruptive as this one.

At least in my personal case, I prefer to be more aware of the news and the rumors that circulate in cryptospace, because this market has shown to be exceptionally sensitive in the psychological and emotional aspect, in a more remarkable way than in the institutional markets.

Yes, the news are having a big impact on the market conditions because it attracts the attention of every trader that can lead them to buy or sell in the market. Also the news are helping everyone to decide what would be the next market movements because it updates the latest improvements or bad happenings in the cryptocurrency on which helping to build confidence of the investors in the project of the supporting cryptocurrency.

News will give us good and bad effect to the market. News is somewhat a medium for us to know any possibilities happen in the incoming days as some experts speak about it. But it create also a drama when only someones say bad reputation towards crypto which it somewhat a FUDs only.
For me, I'll be better to consider mostly on TA rather than of listening unsubstantial news.

If a person knows much about technical analysis, it means that he is courageous and confident. However, TA is not the only one most important thing when you trade. Consider your experience as well to avoid mistakes.

Obviously it was Analysis so means nothing assures you something, and for me basically in trading lots of things we must consider and technical analysis is just one of those,monitoring the price chart and movement arent enough as well

Yeah because in deciding and confidence our positive aura are being boosted so with analytical support the percentages of gaining is nearer

News is what you lack if you truly have taken care of TA and the psychology of trading. News is FA - Fundamental Analysis. This is very important in trading (generally, business) because news help push the TA to achieve a target. To be successful, one has to know what news emanate around the business one is into.

When someone is good at technical analysis means he is having enough experience on it but trading is not something which solely depends on the price patters in the history which is possible with stocks because we have enough data to aalyse how the market will react to the current situation but crypto is just infant we are lacking the data so just need to keep ourself ready to face any outcome which is preplanned trading.

 Experiences has a huge contribution to analyze the technical innovation on how will bitcoin surpass the shortcoming market and how it will grow appropriable. Apparently, being knowledgeable and skillful will lead us to be a successful trader, because we can defend and manage on how we deliberate a reliable result by visioning the possible outcome of bitcoin's trend.

Technical analysis does have its merits but there are some caveats that need to be taken into consideration by any serious trader:

1) Most indicators use identical or similar inputs, ie you shouldn't give yourself a confirmation bias by checking signals for 2 indicators based on the same input, stick with one indicator you know well for each input like price action, volume, volatility, etc.

2) You need to interpret technical indicators in a way that's different from what's the crowd is doing with them, to create a trading edge for yourself.

The thing with the cryptocurrency trading world is that only analysis and knowing the market movements is not enough to make always successful trades, as unlike other classical markets it does not relay or it is not tied to a group of companies or certain people who have a big share, which is basically what centralization is, and that is what they are made to counter, crypto market is decentralized and changes based on multiple things actions and behaviors of is community, so if you want ti be successful in trading it you have to know what the community is doing or thinking, and the best way to do that is to be on forums like bitcointalk where everyone is sharing their thoughts and decisions about what is currently happening in the market and based on those you can make your next move, at least that is what i do most of the time.

More than 1 year ago, I realized that technical analysis is not everything, to apply technical analysis it is necessary to understand the market, I have never believed in triangles or in spectacular indicators with predictions of fantasy, that is why I studied many books by Richard Wyckoff and Jesse Livermore, I advise you to look for and read them, they are really great, they teach you to understand the market, according to those books, my losses stopped, because I am no longer guessing which direction the market will take, now I react With the market, I have more clarity and precision.

I used to make a lot of streaks in graphics, now they are very few, I have learned to identify what is a floor, a ceiling and area of ​​opportunity, I also took a training from a Spanish-speaking YouTuber friend, which, for me, is a teacher , it has a very particular style to analyze the market, in fact it is very good, there I finished specializing, you can look for it in Youtube like Aarón Luján, you must understand that Trading is like a professional career, you should always read books, be updated for understand everything that happens in the market, I hope I have helped you.

You know it already and as you said you are trading with technical analysis, many traders earn with technical analysis but it would be much better to combine with fundamentals or with upcoming news behind the coins or what alts are you buying. By doing TA and FA you have a very big way of getting profits you just have to make sure that the fault is not on TA but in your identified entry and exits. Because regardless how you analyze and having all of the information if you entered in a wrong range of price you will always fail to earn.

Technical analysis is not enough for successful trading. It has to be a combination of fundamental, the crowd and community as you have rightly pointed out.

Technical analysis sure works and its very effective, it all depend on the coin and the level of volatility at the point of trading, technical analysis has been a useful tool for mostly day traders, who monitors price movement of a second, minute or hourly basis and since they do so consequently, no matter the fundamentals that comes in, TA will be able to quickly detect it, although it is more beneficial to traders that trades directly and does not use stop loss or take profit tool.

The only people I see that TA is very useless too are long term investors, and this is where fundamental analysis comes to function more for them.

I think the best way to be a successful trader is based on the varied experiences we have.The more experiences we gained in trading,the higher the chances that we can be more successful and even more profitable at the end of the day.Technical analysis will only be worth it if you also trade with your skills and strategies learned in trading.

But we have to admit that TA's made a lot of successful traders evee since. I don't usually rely on technical analysis but it definitely helps if you know something about what makes the market move. There are a lot of other aspects to make a trader successful and being a good tech analyst can be on top of this.

Whether we realized or not, fundamental things will usually contribute to the traders decision. And yes, technical analysis will be good if we combine it with fundamental analysis because to my knowledge, fundamentals will usually cause fluctuations with a good range.

I don’t think it is god to completely rely on one and leaving the other one out, many of these parts that are necessary and available must be put into consideration all the time before deciding to enter a trade.

You decision to know the trend to trade depends on the fundamentals happening the time of trade while technical analysis will shoe a better direction for our trades, so we may have people that has been lucky to use technical analysis alone, while we may also have people that are lucky to have used fundamental analysis alone, but the best approach is to combine both together to have a fantastic trade that will completely minimize our trading risk to almost zero.

I am sure that technical analysis will good if we can master the skills of analyzing the market so we could know what we need to do related to the market itself. The fundamental analysis will also help us to determine what is going on with the market and that both analysis will show to us how to preventing from getting a lose.

Its true, it will be useless if you do technical analysis but you don't have more skills and extensive knowledge about market, your technical analysis won't work well, Great technical analysis is made by good skills, and a lot of experience. that's important

But those don’t tell whether you’re going to win or not. But you’re still right, cause everything here is all about being ready to take the risk. There’s no law that say you must win when you follow those, but those are the risks you should be ready to take if you want to achieve something here.

I’m seeing some people mentioning risk management. Well, that is right, but you do know that you can’t manage your risk properly without technical analysis. You will have to do some research before you know where the market is heading to and how to manage everything you have. But sadly, when it comes to crypto trading, technical is not always accurate, majority they fail because crypto is mainly unpredictable.

Though technical analysis and fundamental analyses both are very important in trading and business and particularly in crypto, it is not enough. There is a concept of low initial cost of investment that should be kept in mind. If you invest in dip, you can hodl later on and do the TA and FA to see and decide when you should cash out and make a withdrawal decision.

Technical Analysis is just a precautionary measures if the coin will pump or not. Coins in cryptocurrency depends on the news of it. What if you TA'd a coin that is experiencing a doubt from the public and you TA'd that, it will pump in no time. But it dropped since of bad news from the public's disbelief, then it is not enough.

I'm not a good trader but yes of course i totally agree with you that technical analysis is not enough for trading. There is many things are working individually for crypto trade that we don't know. With technical analysis you can trade normally but it's too risky for lose money. Cause sometimes market do not run with technically. So read news paper, watch popular video for crypto and keep analysis for crypto no matter what is that.

Invest on the dip and waiting for the prices to increase if the thing from investor and there is no anlysis needed for that,technical analysis are for short term investors.

Buying dip and sell when the price is high does require no analysis but the situation of the OP is different cause he seems to day trader. However, all price analysis (TA,FA) are just for making price predictions and it does not guarantee ones success in trading but with the inclusion of genuine bullish or positive news about crypto market ones can make a success trading.

Yes I agree this point in sometimes technical analysis will be the most important role play to find and predict the future but it will not only that way to get successful but it is also needed for a complete rated to get his trading opportunity to be successful.

Technical analysis is more suitable in forex trading, it's not that effective in crypto trading, so if you are doing crypto trading then don't rely much on technical analysis. It wouldn't be helpful for you.

In order to successfully gain some profit in trading, you will need to add something when trading in crypto since technical analysis alone won't help you always. Risk management is the number one source of success to all business-minded people and traders.

Not as useful as in forex. But it is one of our best helpers to estimate the price. Yes, there were cases where we were sometimes desperate with TA. But learn more to make your helpers more. Then you just need to look at the graph to analyze.

As far as I know the technical analysis does not work as it should. Time changes and some rules become irrelevant. Therefore, first of all you should pay attention to the situation on the market.

Technical analysis is good, and it has a greater role to play when deciding a trade but only a pro trader can really rely on technical analysis with the use of fundamentals, but for newbies, without fundamental analysis, technical analysis will be difficult for them to interpret.

The reason why I some times argue that technical analysis is strong enough for pro traders is because, whatever happen fundamentally will automatically send signals to technical, so a pro trader will be able to use its tech analysis very well without having to stress on checking the fundamentals around.

Not just technical analysis trading is not enough to be successful. To succeed in trading, only analyzing the technical aspects can not be successful and analyzed all the details. Trading is not easy at all. It is very complicated, so it is impossible to succeed in considering one aspect of trading. With technical analysis, all other aspects are analyzed and the most important is patience.

if not from technical analysis, how do you determine and predict future prices? with luck? of course you will end up with a loss. Technical analysis is important, either research from the news of the coin or the strategy of reading at candle chart

The fact that crypto market is affected by so many factors makes it clear that technical analysis alone cannot help you preclude the market. And if you are not able to preclude the cryptocurrency market to great precision, you would not be able to be successful in trading just by focusing on TA or FA. You need to incorporate some more things as well. Market knowledge and speculations matter.

There are lots of references on the internet that say that the key to success in trading crypto currencies is a strategy and a little luck. Most newcomers try to avoid losses by looking for accurate strategies, then try to use them to achieve their goals. However, the more they insist on implementing it, the more confused they are to claim various accurate strategies both free and paid.

Trading is little hard to predict because it was following the gambling. So those are having experience they pick right format and right way. I think current market we can choose easily because most of the peoples are earning on crypto trading. At the same it was little dump and pump so accurate strategies are never workout.

Technical Analysis is useless if you have a negative attitude on trading, improve also your attitude and your decision making in trading. Yes, TA works but its not enough to become a successful trader, there must be a missing recipe if you are not feeling well in trading. Don’t think about how to be good, TA doesn’t make a good trader but if you focus to learn then you can succeed.

I don't like it when someone equates trading with gambling, because it's really different. The lucky factor is far trading even that doesn't exist, it all depends on a person's understanding of predicting or depending on the experience he often does when he sees a candle pattern. I believe there have been many people/traders who have understood which candles are based on an information, technical analyst or a pattern caused by manipulation. So when they find a candle pattern such these things they will use a strategy based on that price movement.

Different indicators hastheir own uses and if they properly used, you have high chance of winning your trade. Rsi, macd, volumes,candlesticks,different MAs and other important indicators might be effective if it is used with price axtion and fundamental analysis. You should read the market first, get enough information on the coins you want to trade and plan your strategy before you start trading.

Technical analysis helps, but it is not enough to be successful in trading, as there are many other factors, experience, and timing are also very important.

Yes, technical analysis will probably help some part of trading process but completely based on technical analysis to achieve success in trading, it still has too many unreasonable points because technical analysis is just expectations, use fluctuations from the chart in a short time to bring predictions, the nature of gambling is still too much. To make things more reasonable, we also need other factors, trends and times, accompanying those will be our information and experience with the market, which will increase success, just relying on technical analysis is too subjective

In my own opinion yet technical analysis is good for a successful trading because without it I don't think one can enter the market with blind eyes. Technical analysis has really helped me alot in trading. Which I will recommend newbies to get involved and understand it better before entering the market.

A good understanding of TA and being good at using TA will greatly help out if you're actively trading, but as others here have said already, that's not the only thing that makes you a good trader and luck does play a part in whether or not you get profits or a loss. News can also greatly influence things in crypto, though the effect varies based on what news is being reported.

You should also have a good risk management strategy while trading. You might have 80% successful trades, but if you don't have good risk management the 20% can take you out in a short amount of time. Don't be greedy.

Right.Being greedy when trading could really make you less profitable and might even cause you big losses at the end of the day.Learned not to involve your emotions in trading.For me,having good technical analysis in trading is not enough to make you succeed,atleast you also have your own special skills and strategies in trading,and being patient too when trading could help you a lot.

Ok i understand about what are you talking about but where will you put fundamental analysis? That becomes a part of the technical analysis because the market will not move without getting support on its fundamental(Long term). TA only used when someone wanna do a short term trade and we know that even FA will work for long term trade but we must remember fundamental from any platform is really important.

Negative attitude on trading? I think that is not about technical analysis nor fundamental analysis. That negative attitude is about ourselves, nothing to do about the technical and fundamental analysis.

I know a lot of people who are successful in trading because of only technical analysis, they only based on the chart. As far as I know, there are some traders in crypto which don't care about the use of crypto they are trading because they trader because on what they see on the chart and they are still making huge money.

Yeah, I learn a lot Technical Analysis from Babypips.com
I also learn some good technical analysis from Investopedia site.

Yes, this is so true. I see that crypto price usually changes because of the news.
So, it's important for us to always pay attention to daily crypto news.

Technical analysis is indeed very important to see market movements in trading, but mastering technical analysis is not enough, because there are several market movements caused by fundamental news, and you also have to understand that

With my understanding in transactions, the process of technical analysis has a great meaning to the process of forming profits, minimizing risks.  however, it is unlikely to bring absolute success for profit.  it also assembles other factors.  Sometimes is a bit of luck.

As long as you can learn technical analysis from a good source and you can master the analysis, I think that will enough for you to make a profit from trading. But we will have a chance to improve our skills if we can learn many things related to trading so our chance to make a profit will bigger and besides that, we will know what we need to do related to the market situations.

analisys in crypto trading not only technical analisys, fundamental analisys needed to so we will understand the reason why we bought this coins/token in market.combining both of these analisys will make our trading result better than before.

Yes this is right, technical analysis is not all you need to be successful at trading. You need many other factors to be aligned in the same direction. You need a bullish market as well and a low initial cost of investment. In addition, if you have some good experience, you would end up making good gains in trading. So you need to focus on all these factors.

Maybe your opinion can be correct if OP is trading in very large communities like forex, stocks or even crypto in very large communities like bitcoin or ethereum. That should also be carried out when there is no big news that has strong influence on market movements, which are generally termed as fundamental areas.
Besides that, psychology aspect plays a strong role in both technical and fundamental analysis no matter how strong both analyzes are if the psychological control is not good then the results will not be good.

Practice more will help to be better, some of psychology aspect is discipline.

Collecting information makes you more comfortable dealing with this activities, technical analysis is really helpful to check the pattern that you'll going to follow each time you place your entry and exit positions, there's no accurate and sure thing around this industry,you will still speculate if what will be the next market trend.

LOL, you can equate trading to gambling for those who does not follow the real rule of trading. We have so many people that wants to trade, and instead of them learning trading and getting to the advance stage where they will develop skills and strategy with lots of practices, they just enter life trade and start using emotion, intuition and assumption to place order, and that is more of a gambling like activities.

A real investors would first apply the necessary and strategy before placing a trade order and will also apply same trade strategy in selling the order.  Most newbies only wants to trade without learning, and if they start trading, they will surely gamble with figures.

I am not a Pro Trader,
But yes i can give you some basic tricks of Trading which will surely help you out.
Yes Techincal analysis is an important part, i too do believe that.
but along with that, use your brain sometimes.
Many a times traders do that, they invest in the coin which has fallen down recently.
But according to me, dont do that. Its the big mistake.
Moro ever always choose stable coins, so you dont end up making losses.

To become a successful trader there is much to know
1. Absorb Knowledge from Various Sources
2. Preparing to Work Hard to Conduct Research
3. Challenge surrender
4. Compare Yourself with Others
5. Avoid Two Main Mistakes of Beginner Traders
This is my opinion and many people.

I will only add psychological trading. Strong psychology is needed to support the planned analysis. and this is the most difficult thing to learn in my opinion. we must know ourselves and trust personal analysis

I think there are striking similarities between the two but you cannot mix both trading and gambling. In trading, you can eliminate the factor of uncertainty if you are good with the skills that are needed to trade your coins. However in gambling, there is still the factor of probability and uncertainty even if you have what it takes to win a game.

They can be comparable but only into some circumstances only and we all know that gambling and investments/trading is entirely different
when it comes to risk factor.People do react differently on what they are facing but there are cases in trading which you do really need to gamble up or simply
you don't have any idea on what would be the possible movement of price.

Well for me is not enough you also need fundamental analysis to the coin before buying it, but some people just use technical analysis for their trading strategy. It depends on your own style

When it comes to fundamental analysis, I do not joke with it at all and I pay all strict attention to it. It is not everyone that knows how to use Technical analysis strategies, we have some that has never even applied it and they are still doing fine in the market. To me, I don’t see TA function properly without FA, despite that TA functions like arterial intelligence, it still needs fundamental analysis to supply it the information need which it will process and interpret inform of chart for those that knows how to interpret it, and which could be quite too technical for lots of people, while FA is really a simplified strategy.

Technical analysis ia good for trading but its not the only thing you need to be successful in trading .always trade without emotions learn to always take profit from all your green trade and don't be overcome by greed

I doubt that technical analysis is the main reason for us to become successful in trading, its not true and wrong belief also. But it could could be one of the reason for us to get profit, because not all traders who became successful they technical analysis only, of course not.

Technical analysis is important in trade, but there are many things you have to have besides technical analysis, some news and events that occur in the crypto world will influence the analysis of the techniques that you do.

indeed besides that there are other supporting factors, such as psychological. with psychologically well-established, it will certainly train us to discipline the analysis, so that the target is reached, even though it is faced with large fluctuations

Technical analysis does help in trading but is not always accurate and needs to try to find other information to ensure the truth so that your trade is profitable.
for beginners it may be appropriate to rely on technical analysis, but if you have experience in trading you will know how to trade properly and correctly because you have experience that will help you trade profitably because you have experience that will be a meaningful lesson.

If only techinical analisys is enough to be good trader then everyone would be successful trader, they would just follow tecnical data. But you have to be complete and combine data with experience, knowledge and your intuition. Although too much emotional engagement isn't good you can't behave like a robot so that human touch is also important. Good trader should really be able to have and overal complex view on market and all circumstances in order to be successful.

If only technical analysis is certainly not enough to trade you also have to follow trends and news about crypto currency movements, some analysis of others and so on, after that you can combine aspects of these aspects as material for consideration of trade that you will do.

Technical analysis alone is not really going to help you, sometimes you need to focus on your instincts, cause it might tell you the right thing at times. And apart from that, you also need to know how to manage your risks, cause if you don't you're as good as a loser and you're not going to achieve anything. Technical analysis are not always accurate and if you follow them, sometimes you're going to lose. But if you know how to manage your risk, you will be able to reduce the losses that can occur. That's all I have to add to what others have said here.

technical analysis is enough I make profits in technical analysis only but other than this you need money management and other things to manage your trades  if your doing short term  day trading , or swinging you don't need any fundamental analysis

for a professional and experienced trader you need to have a lot of qualities and knowledge.  Knowledge and experience allow a person to create their own strategies for trading.  I have met with this repeatedly, because every professional has his own tactics of action.

The factor I considered the most effective is the news. News can bring the downfall or the upbring of a coin. When there is a partnership or an exchange listing, the price goes up. When there is a delisting or the project that holds that coin is a scam then it falls. Even so you see a major breakout with TA, you can't say that it will go up if there would be bad news for the coin.

Technical analysis is the foundation upon which your knowledge should build. In addition to technical analysis (in which I often use shapes), I use candlestick analysis. This is an excellent type of analysis that often works very accurately. I searched all the information about candlestick analysis on the Internet in various sources, so I can’t give you a links.

So, you are claiming that you can predict bitcoin price based on technical analysis? I don't believe in TA and will never believe in it, because everyone knows bitcoin price can't really be predicted.
You can prove everything with some charts and stuff like that...

Through experience, I have learned that trading is very risky and as such you must use Both the technical and fundamental analysis as a guide for investing and trading decision. It is when you have mastered on how the market works generally that you can actually understand and be able to use technical analysis in understanding what is happening fundamentally or how technically you can understand the effects of unexpected news on the assets. There are some candlestick pattern that computes all the information about the assets into its formations, but it takes great knowledge and skills to identify those patterns and formations.

Technical analysis also helps a lot but mostly you need to check price and get updated. It will help you find a place in a right time to sell out or invest more. These are actually contributing factors which make it easy for you to make right decisions. For example, the current price of Bitcoin although high but another factor is FOMO factor which compel you to invest for future profit and fear of missing out right at low price.

Technical analysis is indeed a very important capital that must be owned by traders, but only techniques are not enough. experience and market news must also remain a reference as support in making decisions in trading.

If you carefully read my answer, your statement loses any basis. Where in my answer did you see that I claiming, that with the help of technical analysis only, can predict the price of cryptocurrency?
But, I'm convinced that with the help of technical analysis, candlestick analysis, trading indicators and common sense, you can make quite successful predictions. And of course I know that there is always the possibility of an erroneous forecast, since most of us are just a mass of people who are being manipulated. And if you need proof, then re-read my posts. Possibly you can find there something interesting.

Technical analysis alone can not help you trading but it can help you in covering 75% path to success. All other things like sentiments, crowd behavior comes with an experience. Even technical analysis can better be applied with experience only. Reading books and stuff over internet can give you basic idea but reading market behavior before triggering a trade will come from experience only. First try to learn the basic of technical analysis and try it implementing to daily trading on small or demo account, note the market behavior and try reading it, learn about trend, retracement, support, resistance, success will follow you one day.

Of course it’s vital, but not enough. You can also read articles on trading, forecasts, watch different videos, even shows like blockbattle

And how such shows can help?

That’s for your self-development in this sphere, and you can even find there projects in which you can invest

Good idea! Do you mean blockchain investing projects? Share please at least one from blockbattle, cause now I have no time to watch it

I don`t think so, many crypto expert or trading expert have already failed because they are too lazy and don`t use their instinct. If you want to become successful in trading, you must be hardworking, patient, and wise. Technical analysis sometimes fails and without hard work, it might cause you to crush.

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It is an advantage for the individual traders if they know how to apply or implement the proper way of TA( technical analysis) every time they are in the actual trade, there's no day for sure that they can't get profit for sure they have. But I'm not saying it is only technical analysis is the key to success in trading of course not, there are some other important things which is trader must have self control and self discipline if they are in the actual trade.

Survive isn't enough, are they rich now?

How can an expert in trading is too lazy and doesn't use instinct? They are called expert only after they success, aren't they?

Many people give up and stop trading. It's not easy to trade crypto.
requires courage and patience, TA is very important but emotional factors are also important and it must be trained to be ready to face every market situation.
at least you have trade beliefs and fundamentals.

Of course it’s vital, but not enough. You can also read articles on trading, forecasts, watch different videos, even shows like blockbattle

And how such shows can help?

That’s for your self-development in this sphere, and you can even find there projects in which you can invest

Good idea! Do you mean blockchain investing projects? Share please at least one from blockbattle, cause now I have no time to watch it

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TA can't guarantee success but it can minimalize and guiding your trading plan.

Minimalize
Let say when the chart is going down by using MA 100 and 200 indicator and the analysis is right , so you can sell before you got loss

Guiding
If you want to make profit about 5% for example , MA 200 is great indicator

Technical analysis including luck is the best way to earn prpfits, I agree for that way not to be greedy, taking small prpfits for the daily trade very effective is enough.
A small profits can get for daily trade job 10 to 15 percent interest, add their a weekly  earning I think from small to become huge.

I agree that you should not rely only on technical analysis. Many other factors have a very important impact. In my opinion, the mood in the market is very important. The market often goes against the majority and therefore it is sometimes very useful to take this factor into account.

Technical analysis alone is not enough. We also need to use fundamental analysis and some other factors that you yourself have listed. After all, it is best to be prepared for anything and be able to look around and notice any changes.

I agree with you about one thing, you need to be prepared for trading. It`s not just technical side of trading, it`s bankroll, timing, more than one exchange. A better-prepared trader has more chances to make a profit, than a wannabe trader with lucky guessing when placing buy/sell orders.

There are lots of factors to be considered about or to mind off when you are a trader.You might not able to sort or acknowledge it all on your
first time or new tries but eventually you can learn all of these things along the way.Dont rush up and gradually learn on what are the things needed
for having a very good trading system that makes you profitable in the end of the day.

"Not everyone is going to make profit in cryptocurrency.
Whoever does the good analysis and have PATIENCE are the only ones who will be making money on Crypto."
i just read this quote somewhere in Twitter
i kinda agree on this ,there are so many analysis to consider in the market ill just add up that
being respectful to the market is also important to prevent loss ,not all the time your bias will be realized
at some point the market goes the other way and once you see or feel it you have to accept it.
Coz Some traders are so prideful to admit that.

News, this is the truth and more often has the biggest impact on the market. At this time, even the technical analysis that was used might not work at that time.
But usually even the forecasting of market are stable, most people still using it maybe its just for make sure they didn't do any mistakes.

If we talk about negative news, then it is always a bad influence on the pricing of different coins.  But first of all you need to look at the chart of sales and purchases of a particular coin, as well as the state of capitalization and its changes, which will really affect the future price.

I agree with you 100%

I understand the skeptics who speak out against technical analysis. Nevertheless, he has a place to be. You just need to use it without too much fanaticism. By technical analysis, you can clearly see the behavior of prices in the tape.

It is certainly not enough because with this one tool, you can only get a certain sense of security, and as you say, trends and movements in this market are very strange, no one dare to assert anything, a tool is too little, we need more than that. And so, success cannot be stopped by technical analysis, we need to analyze the market, analyze people's psychology, then analyze the emerging news in the market, many trading analyzes, we will have a better success rate

Yayyy!! Agreed

Ncash Daily chart below the lower Bollinger band and RSI at near oversold zone good level to enter. (not investment advice.DYOR)

It's just a signal that tells you on what is possible to happen so to me it's not. For me, what my experience has thought me is that just always buy at the bottom and sell on its high. I know that no one knows where is the bottom but it is always an opportunity to buy it cheaper. Those ta are mostly used by traders to hype and sell the news.

TA's have roles to play but ain't enough for the trader to become successful, will strategies have a big part for it.
Actually, TA's will just be a guide when to buy and when to sell and the most important is, we might be able to read the chart or to adopt and understand the current flows otherwise, our TA's will having no sense at all.

Technical analysis is not enough to say for you to become successful traders in this business industry.
There are lot of things to consider before we achieve that, and there are many tools for us to get it, and of those are
learn first through, video tutorial about in crypto trading, know the top exchange that has a great volume in the market
and you can also as here in the forum in trading discussion.

Technical analysis is good but not hundred percent what will make you win all the time. Yes it can be helpful cause there are times you will be able to get close to accurate prediction of what the market is going to be in future. But just because you know technical analysis doesn’t mean that you are now going to be winning every trade you put your money in. If it works like that, then there are lots of people that are very good in that and they should have become millionaires overnight. I don’t know if you do follow some predictions that some experts do, you will see that it is not always accurate. Most of the times they are wrong, and when it’s right, it’s not 100% right.

Also try to trade using candlestick analysis. There are situations when the market situation is uncertain, candlestick analysis can often help in such moments.
Make a plan before buying any coins.
You should also understand that no books will teach you psychological moments. Only your own work on yourself. Notice your mistakes, admit them, draw the right conclusions and act according to them.

Technical analysis is only a graphical analysis of coin price movements, so traders can predict the price trends, determination of the support-resistance line, reversal and forcasting. But you need to do fundamental analysis so you can know the fair value of the coin. By using those analysis so you can know where is the good position to buy, sell or wait and see. After that you can apply your trading plan.

I think your friend is right. In new markets like crypto, we rely heavily on the psychology, the fomo of the crowd, and especially the news and trends that are taking place. We should not apply too much technical analysis, although it also supports very well in trading

I think technical analysis is enough to learn for new people, but they need to learn more about trading like, for example, how to analyze the chart to get the right price to enter the trading.
You will need that if you want to become a successful person in trading and there is no exact time when you can master the analysis.
The important thing is you want to learn, you can to apply what you learn, you can continue to try to practice to get a profit.

i learnt technical analysis first and if doing short term and day trading technical analysis is must and enough , but getting more knowledge is market is also necessary if we want to survive and be confident in whats going on , and after having experience , as everyone say there is no end to learning , learning of more concepts is good 

Technical analysis is only a necessary factor but not enough to successfully trade in the cryptocurrency market. For myself to successfully trade in this market, it is necessary to capture the trend, make timely decisions and ultimately use technical analysis to determine appropriate buying and selling points. That's the way I've used it in this market for a long time.

Well, considering TA's is just a guide and something a thing to look at but relying alone upon TA isn't good at all. We know its market behavior and can't think that the market will have a steady flowing trend that TA's will be right all the time. It is our self to adjust from how the market works and changing our trading strategies will work well otherwise, we are just hanging on the train.

Learning through videos and books I think it's still a basic lesson in trading. The most valuable lesson in my opinion is experience, yes experience, trading does not require a lot of theory but experience. When we have a lot of experience, our trading skills will also increase. Videos and books are a theory that must be developed and it produces extraordinary experiences, the more hours you fly, the more knowledge our get.

Qualitative technical analysis in trading should certainly be the foundation for the trader’s adoption of trading strategies. However, other components of successful trading are also important, such as: 1) risk diversification. 2) psychological composure. 3) general strong trends in the market. 4) intuition. 5) strict adherence to the previously selected  trading strategy. Only a combination of these factors can lead to success.

I'm not a big fan of TA when it comes to prediction. I can say that I enjoy looking at them a lot and reading them and most of my time reading trading news is TA anyway but that is always just looking at patterns of the past and understanding that especially in crypto/Bitcoin you can't really apply TA until the market is more mature, which will take many more years.

my advice is just read "Trading in the Zone" by Mark Douglas
then read it twice and when you will finish it... just do it ONCE again
thank me later  ;)

Yes, analyzing is very important but it alone is not the way for one to be successful. You have to be balanced with doing things and that is where I prefer Trading Tools (https://cryptolinks.com/useful-tools), as that’s how you are able to figure out things relatively easily and something that benefits. I don’t think it’s all that easy but with hard work and putting up efforts consistently and regularly helps for sure. But in all in all, it’s about combination of things that makes you succeed.

Technical analysis helped me a lot to become a great trader. But there are still indicators that we have to learned in our own way and we have to find such indicators that suited our understanding and that fits our trading style. So far, I only use 3 simple indicators like Moving Average, RSI and stoch RSI. Those help me to still get profits with my own TA and predictions.

Fundamental analysis is another aspect that is closely associated with Technical analysis, news around the cryptosphere will have a significant impact on the price of cryptos recalled president Donald Trump recent derogatory remarks on bitcoin and Libra will fundamentally have some impact on price of cryptos thus a good trader will take some profits after the pronouncement obviously envisaging a price dump while indicators too plays a major role in price movement although they lag behind price in addition emotions and psychological effect of trading should also be considered for a successful trading.

No, it's not enough. You are a human being, not a machine and you have to use your brain, your past experience and your emotions too, pure technical data are not enough.
If things were that simple then everyone could be successful in trading. It's could be very helpful though and you should take it into consideration when making decisions but you can't fully rely only on technical data.

I agree, while a strong foundation on TA is needed there are many other factors that influence your results, probably one of the most important is your confidence, many traders begin to use a trading system not knowing if it will make them money over the long term, and if you do not know that then how can you effectively trade your system? So one of the most important aspects for a trader to consider is to backtest his strategy which is something very few traders do.

Of course, if a trader already knows how to make a technical analysis of a particular coin, he will be able to understand how to make the right choice.  In any case, without certain knowledge and experience, it will be very difficult to achieve real results in trade.

Although technical analysis is an indispensable element if you want to succeed in trading, you still need more skills to win in this market. In addition to technical analysis you also need to monitor the market, analyze psychological investment and spend a lot of time researching in depth about the coins you want to invest.

Not only technical analysis can be 100% successful, but if you use technical analysis with absolute discipline, you absolutely have a chance to succeed. :)

This is a great question!

There is a saying in the finance world..
Fundamental analysis tells you what to invest in, while Technical Analysis shows you when  :D

There is some truth to that!
TA is very beneficial for identifying the strong levels of buy or sell sensitivity within a particular zone for any asset.

Traders and investors are looking at these zones, and that is what makes them valid. Its the market participants all seeing the same area in a chart that makes a "support" or "resistance". When these zones get broken, the confidence in either the bulls or bears get lost and that is when we see a sudden shift in supply & demand. We call these breakouts!

So in short, TA is powerful, but it is just one part of being a profitable trader.

Understanding risk management, position-sizing, and personal/market psychology play a major role in trading success.

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Yes, you are right. Moreover, some traders have so cool intuition that it works better than TA.

However, technical analysis is needed also. Not all traders use it, but finally, even these guys understand its benefits. Technical analysis, surely, when it is used correctly, explains market sentiment, and helps to make weighted forecasts. However, very few traders can work with TA.

Did you try using crypto trading bots or some other tools? Sometimes they can really make the trading process a bit easier. For example, I have recently installed CEX Info Bot (https://t.me/CexIoInfoBot) on my Telegram account and tested it. Based on my experience, that it's a good tool that will monitor the crypto market and its changes, and inform you about them in the form of notifications. So, if you haven't tried it yet, maybe you should check how t will work for you.

A technical analysis must be done daily, but just having this analysis you won’t get many results, For this you need a basis that supports the technical analysis and really gives the possibilities you want and thus obtain results and profits. You must employ a fundamental analysis that is well founded in the long term, in this way your market evaluation will be a little more precise and you will be able to carry out your operations with lower risks.

Technical analysis alone is not enough for successful trading. But technical analysis is an excellent basis for becoming successful.
In addition to technical analysis, you must work on your psychological state. Also practice constantly.

I believe technical analysis alone will not create a successful trading in the end because traders should also learn how to be patient especially when sudden price changes occur.And learn how to trade without involving your emotions can be of great help too.

You may not know the technical analysis and trade successfully. It is possible. But you must have something that replaces technical analysis. For example, you are well acquainted with the crypto project team. Or understand the movement of money in this market. But it’s better to study technical analysis. It is not difficult.You can easily understand basic things.

Currently the market has a lot of good books on financial management and long-term investments but it does not help you much in trading in the crypto market.
I think you should only update the news faster and more to understand the trend of the market, from which you will get a brighter vision and make a better decision.
Our market has only grown a few years ago, so we do not have much support from many sources. Experience is the most important.

Technical Analysis is a part of trading. Arguably the easiest part of trading though some do get it wrong.

I think the OP is already on the right track on what other aspects to look for and the other comments here have added to that. The only thing I would add is you can look at correlation as that has helped me quite a bit. This involves looking at correlated instruments and making sure they are all giving you the same technical picture. This provides a greater edge and helps in finding more meaningful moves.

From my experience, the most difficult aspect of trading is what most refer to as trading psychology. Basically, we are not programmed to lose, but successful traders take losses all the time. The key is to have more winners than losses. OR to have bigger gains on winning trades. A combination of the two works as well. I find new traders will often put on a really big trade after losing a bunch of trades in hopes of 'making it back quickly'. This IMO is the greatest risk to a trader.

Definitely more analysis than luck but we can't say luck has no play in this neither. Think of it this way do you need luck or skill to be a good actor? Now you can be the luckiest man on earth but if you have no talent than you can't be a movie star, you can play here and there but in the end you will not be making it very long.

However, if you are a great actor with no luck you can actually grind your way into the business, play here and there and people will love you and than you will play in bigger things, you may never be a blockbuster success but you will at least make your money that way until you retire. Hence same with analysis, if you are a good analysis of sorts than you can eventually make money, if you are however lucky you can make profit just once or twice but you can't get lucky forever.