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

[beerlover]

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

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.

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.

[1714641407]

1714641407

[Finestream]

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.

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.

[gabmen]

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.

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.

[emberbekas]

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.

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.

[GregH37]

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.

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.

[ethereumhunter]

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.

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 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.

[mornabo]

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.

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.

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

[guoyu78]

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.

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.

[Kiweikoo]

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.

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.

[shimbark123]

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.

[princerepon]

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

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.

[semobo]

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.

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.

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.

[posi]

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.

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.

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.

[playboy654]

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.

[Che454010]

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 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.

[Oceat]

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 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.

[tenakha]

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 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.

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.

[Eildosa]

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.

[Whosdaddy]

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 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.

[Coin-Desk]

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.