I am not lucky in trading - what am I doing wrong?

[Negotiation]

Many people already suggest you i just adding something you learned about cryptocurrency trading minimum 2-3year more than you start trade in ream market place not follow only indicator follow must technical analysis with news trade not shortcut man it's very hard. 

[Scotslass]

Maybe not too confident with what we speculate make you more careful when pick an action. Especially if you said you only use Volume as indicator. Actually i see only from what i learn, not too hury to sell your bitcoin if you see bear trap. I mean in bear market, it is better to take a rest and start do trading when you see bull run come.

I'd say your tactic can work only if you are long-term player.
For short traders there is no way to blindly buy/sell and still be in profit.
As I said you can choose simple tactics for long trading - for instance you buy 1 btc on $6800 and write down on paper that you'll sell if: 1. btc gets lower than $6600 2. btc gets higher than $7100.
Basic stuff, I know.

[Landak]

Your mistakes may be due to the emergence of a fear of excessive losses and fear of missing out on a moment (fomo), if you can do an analysis of the candlestick and look for updated news I am sure such mistakes will not be repeated again. And another problem is maybe you put all your money to be used as trading capital, so when there is an increase and decrease in prices like yesterday you started to panic. save fiat and save crypto, this is a good way too. when trading, try to be patient and don't panic.

[piebeyb]

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?

there is nothing wrong with what you have done so far, you have been trading for a few years, you should have learned a lot like me, before I was like you experimenting in trading and it took me about 3 years to understand the market from looking at other trading volumes, bitcoin is always predictable you need to learn it a little bit, I give advice focus on that trading does not always prioritize profits always prioritizes learning

[Harriti]

Hello all,

need advise, if any exist
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?


thanks
P.

You are not wrong, you are doing right. because everyone has their own strategy and unfortunately your strategy is not working right now. You know, the crypto market is full of manipulators and it can cause the price of a coin to rise more than 30% within a few hours. so if you feel too risky, you should not trade immediately. Keep researching the market and come up with a new strategy, maybe you will be more successful.

[DeathProxy]

I guess you need to change your approach towards trading. This is my approach that have been working for me maybe you can read and learn from i so you can make your own adjustment .

- dont go in with a FOMO mindset despite project having a super gold status
- dont buy in ico wait to launch and buy at lowa after investors dump
- Buy project with usecase and workable product
- crypto is at least 5 years in adoption so take profit at interval and never love a coin.
- crypto always gives time to buy at low so never go into fomo and buy on high wait for a good entry point

[Getmon]

It is because trading is not about luck, or perhaps mostly not about luck. 99% of trading is about how good you are in using your tools, analysis, and fundamentals. But even if you are good enough, it is still not a guarantee that you will end up right all the time. Most of the time, the market is really beyond the prediction of traders. You can always predict the prices of Bitcoin but your prediction will remain as a guess.

[clickerz]

Have you tried using other indicators like RSI, Stochaistic RSI, Bollinger Bands other than volumes? Seems that you are misreading your indicator. If you are not sure when to buy or to sell your btc, you can confirm it to the other indicators like I have mentioned above.

On the other hand, I can see you are not that confident to yourself because you always had a bad entry and exit point. Determined your bad entries, it is not necessary to just rely on your own guts or your own prediction. That is why we need technical analysis for basis and to spot where we gonna sell or buy at the right time.

Yes, @OP should learn this indicator. It is better to learn more indicators so that when In doubt you can verify another indicator. Also, be aware that trading has losses too, not all trades are gainful. But, by learning some tools, you can minimize your losses. Study more resources and practice.

[Soots]

It is because trading is not about luck, or perhaps mostly not about luck. 99% of trading is about how good you are in using your tools, analysis, and fundamentals. But even if you are good enough, it is still not a guarantee that you will end up right all the time. Most of the time, the market is really beyond the prediction of traders. You can always predict the prices of Bitcoin but your prediction will remain as a guess.

You can't merge luck with reality on trading, because we're doing that for money and this isn't to be associated with gambling. When we say its a lucky profit, then it's somehow the same with betting. Here in trading, it's our skills that matter oftentimes so you should be responsible to make your future great in trading.
If you think it's not a lucky decision, make it a perfect one because it isn't just luck but a sustainable wealth if given a by chance.

[Panslav]

Many thanks for so many replies.
But still I do not understand how someone can successfully predict btc movement with use of TA. Just look at the situation from 11 of november. In 6 hours price dropped from 9050 to 8600. What showed in the beginning fall of price? RSI not overbought, OBV in line with price... even after fall to 8940 usd rsi showed oversold. And of course we are looking to past, so we know how the situation finished, but in the moment of price fall, how do you know if to sell ( price will keep falling ) or buy ( because it is the bottom) ?
I would really like to understand this.


https://i.imgur.com/kl4rKyQ.jpg

[Free1bitco.in]

trading is easy, just looking for the right time to sell/buy it is very difficult. many people have stopped because they are always panicking with what's happening. one thing you don't do is try to hold on in the long run.
if I'm not mistaken, what you do is short-term trading. the time range that happened when the bitcoin price of $ 7000 then dropped to $ 6500 and went back up at this price not so long ago, so I feel you might have the emotions of FUD, or FOMO. in trading, that is the main problem. if you still have assets now, try to calm down and wait until 2020. many people are speculating that prices will pump that year, and I think so too.

[joshy23]

Have you tried using other indicators like RSI, Stochaistic RSI, Bollinger Bands other than volumes? Seems that you are misreading your indicator. If you are not sure when to buy or to sell your btc, you can confirm it to the other indicators like I have mentioned above.

On the other hand, I can see you are not that confident to yourself because you always had a bad entry and exit point. Determined your bad entries, it is not necessary to just rely on your own guts or your own prediction. That is why we need technical analysis for basis and to spot where we gonna sell or buy at the right time.

Yes, @OP should learn this indicator. It is better to learn more indicators so that when In doubt you can verify another indicator. Also, be aware that trading has losses too, not all trades are gainful. But, by learning some tools, you can minimize your losses. Study more resources and practice.

That's agreeable since volatility is always present inside this market you need to have the right tools to base your position, it's hard but if you are following the right path then chances to earned from this industry is possible. Acceptance also have to be in your mindset it will add good judgement, if you lose one of your position then move forward and continue trying to learn more be positive and see things in the right perspective.

[Goodvalony]

it is either you choose to a short term trader or a long term. if you ever buy high, give it more time and wait. no matter how long, with it will definitely go back up. then you can sell. but if you regret your move and sell short. that is a double damage. you might loose everything. your money and bitcoin. why  not wait for the price to go back up. then you can sell again.

[carlfebz2]

~snip~

When dealing with indicators it is somewhat hard.You would really have those kind of questions in mind on why it went wrong.
What tools/indicators youve been using?If its just support and resistance line then you are targetting those lines for possible
break outs and bounce back then these kind of trading is really stressing.You cant be sure if price would go through or would
recover but somehow if you do lost up some position you can set stop loss.Why not try on swing type of trade?

[barota]

if you already holding bitcoin since bull run of last halving  for sure you dont lose anything but if you sell then buying again you already lose ; when you hold bitcoin for long term  you will make profit without doupte ;for example this is the good time for invest in bitcoin even for new  investors

[Shasha80]

In my opinion there is nothing wrong with what you do, sometimes bad events like to happen suddenly. Something like that can
happen to anyone, not only you are the one who often experienced it. Almost everyone must have experienced it, I think you were
just unlucky related to this. Just be patient, and do not despair with the incident. Later  will we find a way to overcome this problem.
To be honest, it is sometimes as good as any analysis we have done, the final result is not ours to determine. And also the volatile
bitcoin movement really likes to change suddenly. So we really need to be careful in every decision we make.

[topbitcoin]

Maybe not too confident with what we speculate make you more careful when pick an action. Especially if you said you only use Volume as indicator. Actually i see only from what i learn, not too hury to sell your bitcoin if you see bear trap. I mean in bear market, it is better to take a rest and start do trading when you see bull run come.

I'd say your tactic can work only if you are long-term player.
For short traders there is no way to blindly buy/sell and still be in profit.
As I said you can choose simple tactics for long trading - for instance you buy 1 btc on $6800 and write down on paper that you'll sell if: 1. btc gets lower than $6600 2. btc gets higher than $7100.
Basic stuff, I know.

Maybe yes, people who not know about technical analysis in trading, long-term can be solution. At least while we do long term trading, we can learn first about how to do short or maybe daily trading well. In case OP said that he only use volume as indicator. Because whatever strategy that we do, what we aim in trading is profit. The only problem is only how to get best strategy that fit on us.

[aardvark15]

I have fallen in to these same traps. For me the answer is long term trading only. Right now I would consider buying only because the price seems relatively low and I think it will go much higher later. If I do buy and the price drops, I won’t sell but I will consider buying more.

[maydna]

I have fallen in to these same traps. For me the answer is long term trading only. Right now I would consider buying only because the price seems relatively low and I think it will go much higher later. If I do buy and the price drops, I won’t sell but I will consider buying more.

I guess many of us have those experiences, even myself. He needs to learn more about the indicator, analyze the chart in many interval times so he can know where the bitcoin price wants to moves. But I suggest he not try to make a big profit if he cannot do that because that will be too difficult to determine the right time to buy and sell bitcoin. It is better to make a small profit, but he can do that over and over than to make the profit at one time only because I guess that his profit will be bigger than in the one time profit.

[gabmen]

that happens to a lot of people, not just to you. Just continue to practice trading with small amounts. When you average the times that a traders missed the right buy or sell point, I think most of us are more in the negative. Trading will test your patience and sometimes it will seem that you're just out of luck. Good traders set this aside and continue to learn. If you want to be an efficient trader, then you shouldn't  let setbacks dictate your general outlook towards trading. It's a continuous learning process.