technical analysis is enough to be successful in trading ????

[Cryptomist12]

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

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[Bitcoin_Arena]

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.

[hugeblack]

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.

[BitcoinTurk]

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

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.

[dark08]

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.

[milewilda]

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

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.

[lablab03]

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.

[BlackPanda]

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

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.

[Gozie51]

Quite very effective if you are willing to taking small profits per trade and not be so greedy.

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.

[pushups44]

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.

[cryptoblue77]

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.

[tadpole_bitfrog]

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

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.

[qwertyup23]

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

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.

Quite very effective if you are willing to taking small profits per trade and not be so greedy.

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.

[carter34]

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.

[rnchavez19]

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

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...)

[Bagaji]

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.

[Kemarit]

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.

[avikz]

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

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!

[hyunee]

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.  

[traderethereum]

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.