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Jsmbugu
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August 31, 2019, 09:27:04 PM
 #1

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.


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August 31, 2019, 09:38:26 PM
 #2

So many traders don't depend on either technical or fundamental, they just watch the market, enter and take their profit.


What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......


You have to practice a working pattern for you and rely on it.
Research for how to trade profitably.
Don't be greedy and trade with the  believe that you going close the brokers shop. Angry

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August 31, 2019, 09:59:59 PM
 #3


So many traders don't depend on either technical or fundamental, they just watch the market, enter and take their profit.


What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......


You have to practice a working pattern for you and rely on it.
Research for how to trade profitably.
Don't be greedy and trade with the  believe that you going close the brokers shop. Angry


How they can make profits just by watching the chart for that's not trading but gambling. And anybody can do that but eventually you'll lose all your money.

I'm not being greedy or want to be rich. What i want is to learn the right way to become a trader. I don't wanna wast my time learning something fake as they saying that technical analysis is bullshit.

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August 31, 2019, 11:35:24 PM
 #4

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.





Technical analysis is important weapon in trading but ofcurse we need to be carefuin every decision to avoid a lot of loses because we trading is also a luck games with have risk, the key is hard work with patience to become successful traders specially herein crypto because difficult to predict with potential coin up or down quick.

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August 31, 2019, 11:49:43 PM
 #5

Don't focus on technical analysis just focus on "buy low and sell high" crypto or bitcoin is unpredictable and no signals.

If you want to make a profit try to trade on Binance they have some tools that can prevent you from losing.

Check this for a quick guide: https://www.binance.vision/tutorials/what-is-a-stop-limit-order

Don't trade with yobit again because it's not actually safe place to trade.

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September 01, 2019, 12:10:15 AM
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 #6

Why some traders become successful and the other fails? Just because they don't have the same strategies to follow nor that optimistic and positive outlook towards the market. They become successful because they survive and learn from mistakes that they committed previously, giving them a hint to find out what's missing. Continuous learning and a strong commitment to their job brings them to achieve their goals and be recognized as a successful trader.
This is what we should have to do.
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September 01, 2019, 12:54:57 AM
 #7

What you need to do is learning about how to find the right time to buy at a low price and sell high. That is the most important, and you need to analyze by watching the market. And if you are familiarized with the trend moves, I am sure you can get the right sign to buy at a low price. To be a successful trader needs a lot of things and not just learning from another source, but you also need to have to practice, which means you need to trade many times. I don't suggest you do forex trading because you will need to learn more than just analysis and indicator, and that will be more complex than crypto trading. It is better to do crypto trading because I think you will have a bigger chance to make money than in the forex trading.

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September 01, 2019, 06:19:27 AM
 #8

Trading in forex, stocks and cryptocurrency needs special skills and understanding. I have tried to trade in all these market in the past and my advice to others is to start developing your skills yourself! You may need little explanation from the beginning and if you are unlucky you may meet bad instructors that will lead you in his own way. Start as little as you can because your experience is what builds your trading skills and understanding.
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September 01, 2019, 07:35:44 AM
 #9

Although, there are many requirement to become successful in trading but simple ingredient is knowledge and able to work out a quality strategy, as there is just no way you will succeed otherwise. I am using a broker that gives me room to trade both Forex and Crypto. I would suggest others too for picking Trading Broker only which allows both since it only increases up your potential as far gaining good amount of money is concern.
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September 01, 2019, 12:52:52 PM
 #10

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.



I normally keep my technical charts simple and it works for me, I don't know what will work or not work for you. I would just learn the basic ones if I were you and maybe learn the how to use the higher tools later. You could search which tools works better... I'm sure there are good answers for this on youtube or Google



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September 01, 2019, 02:42:43 PM
 #11

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.


If you really going to be a full time trader for the rest of your life then its worth to learn all the strategies available to predict the prices but don't trust any of them too much since cryptos are highly volatile.You can make either lot of money or lose everything as well so keep your coins diversified and stay on the basics of trading while buying and selling the crypto currencies.

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September 01, 2019, 06:19:47 PM
 #12

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.


Study, Study and Gain experience and utilize this experience for your learning and apply it on your own trading system.Theres no such thing on being a successful trade that haven't any losses yet loses are inevitable but somehow this risk can be lessen up if you do know on what you are doing.Its hard but not impossible that's the good thing of it.
Yes,you can make money for the rest of your life if you do able to get or manage yourself on such situation.How to achieve? This wont be built overnight and it might take years for you to get it on.What tools? Technicals aren't an assurance but somehow if you do expertise on this one there might be a chance but as we all know that these indicators aren't that precise that's why we have those news or fundamentals to rely or to add on anytime we do able to read it.Just discover and do apply these things along they way and youll realize
that you need up these things somehow.

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September 01, 2019, 06:30:51 PM
 #13

You don't have to adhere to the rule of "buy at a lower price and sell at a higher price to make a profit."
This is faithful to the most important things you should do:

 - Stay away from listening to people who claim to be experts in analysis, especially those on YouTube and Telegram channels.
 - Technical analysis of long-term predictions cannot be relied upon.
 - Learn how to take advantage of the factors that lead to a higher price.
 - Learn the factors that affect price, such as news, laws, analyzes and more.

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September 01, 2019, 06:39:07 PM
 #14

You need discipline, Reading and interest to learn. Spirit to bare the ups and downs.

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September 01, 2019, 07:32:47 PM
 #15

Every strategy that you learn is not a waste of time because they all have their own area where they fit into, and if you are able to learn all the available strategy, if strategy A does not work here, then strategy B will work there.

The most important thing right now that you really need for you to become that successful trader is for you to accumulate enough of knowledge about trading cryptocurrency because it is really not easy, and never you rush into trading without first ensuring that you have made enough practices first so that you didn't end of losing and not know what the cause of it is. As you have also mentioned too if you should go for those learning, I would say that you should go for it really. It would really pay you in the long run when you start to make the full trading.

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September 01, 2019, 08:36:15 PM
 #16

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

You want to trade using harmonic patterns without knowing the basics of TA? You're jumping on high waters with no warm up my friend. Grin

The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.



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September 01, 2019, 10:20:24 PM
 #17

The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.

That's true, but even the more reputable exchanges have orderbooks consisting of a lot of spoof orders (orders that are in the books but aren't meant to be filled). In the stock market spoofing is illegal, but in crypto that rule doesn't seem to apply yet, which is why you shouldn't pay too much attention to orderbook depth to either consider the market bearish or bullish.

Last year Ethereum went through a flash crash from ~$100 to ~$13 on CoinbasePro, which is the most reputable and most liquid actual fiat exchange. It's something you can't avoid unfortunately (or fortunately for those who get their low orders filled). Some exchanges do reverse the trades, so even if you managed to buy in super low, you will probably not benefit from it.

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September 01, 2019, 10:25:55 PM
 #18

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

You want to trade using harmonic patterns without knowing the basics of TA? You're jumping on high waters with no warm up my friend. Grin

The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.



Being knowledgeable with TAs are highly recommended because this is your basic foundation in trading. Your experience and acquired skills through the years will aid you further in moving forward with trading. But you should not forget the basics. Though in crypto markets, TAs are not really applicable in some coins like the pump and dump ones, yet you need this to assess other markets.

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September 01, 2019, 11:47:49 PM
 #19

You can become a successful trader if you follow the right people in the industry. Learn about their methods, put them to practice to ascertain the one that will work best for you. Doing this consistently will make you a better trader. 

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September 01, 2019, 11:51:33 PM
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The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

the people who say that are just terrible at employing TA. they tried trading, lost some money, and now they tell everyone it's a scam. that's not to say TA is perfect nor easy to practice either, though. it takes rigor and you need to have a talent for it. most people don't have what it takes.

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

i recommend completing the free online course at babypips. anything TA-related applies to all markets, not just forex: https://www.babypips.com/learn/forex

there are no "beginner" markets. which markets work best for you depends on your trading style. i hate trading stocks personally---too many fundamentals to worry about and i hate how the market is closed most of the time. bitcoin is perfect for my style: it's volatile, classical TA works well on it, and it trades 24/7.

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