Tools for analysis

[Johnyz]

I’ll stick with the exchange tools since I can use everything there and its easy for me to trade right after my analysis, so for conveniency I choose the tools in the exchange that I’m already using. Using different tools might consume you a lot of time so better to stick to one and have a good analysis with different indicators, you have to maximize your analysis time to avoid any late action, timing is very important in trading.

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[goaldigger]

I’ll stick with the exchange tools since I can use everything there and its easy for me to trade right after my analysis, so for conveniency I choose the tools in the exchange that I’m already using. Using different tools might consume you a lot of time so better to stick to one and have a good analysis with different indicators, you have to maximize your analysis time to avoid any late action, timing is very important in trading.

Its ok to have different platform, for you trading plan and for your active trading.
I user a different platform every time I trade, though yes its available in exchanges but I’m using a platform where I can also analyze the trend of stock market and crypto at the same time, its a local platform that offers a lot of services for free and its more convenient if you see an app like this.

[GeorgeJohn]

I would probably get a premium TradingView account but honestly it's not really needed, I haven't paid mine in a while and I can work just fine with the default features. There are good indicators you can get for free. There are no magic tools anyway, having a job that pays well is the most important part as you can just invest bigger chunks and assume less risks which should make you more money long term than trying to guess what's going to happen next at all times.

The only thing i can implies on this, is that many people have different tool or different method of surviving in trading but they will not like to disclose their own methodology. So i believe that when you devote out time in something they is every tendency that you will know the possible escape root to follow.

[lepbagong]

It seems that until now I have never done an analysis using tools or similar services which are widely available, because I myself don't really trust it. always try to use my own analysis predictions, even though they may not be completely reliable, they can add confidence to continue to hone better in the future.
I'm really sorry I can't share what you want, but I'll also try to see what other friends share and want to analyze first whether it's really useful.......

[Oshosondy]

Two key things involved with market Analysis is all about Identifying the Demand and Supply zones, which we call support and resistance (accumulation & distribution). Note: only M, W, D1 time frame can stand as a strong support and resistance, i.e using this time frames in identifying the lowest level and highest level in the market.
 

I have mentioned this many times on this forum, that newbie traders should always know that indicators can be helpful, but they can also fail, but more accurate with larger time range. Depending fully on indicators can fail traders, they need strategies, other type of analysis and risk management to be able to make money from trading.

The only thing i can implies on this, is that many people have different tool or different method of surviving in trading but they will not like to disclose their own methodology. So i believe that when you devote out time in something they is every tendency that you will know the possible escape root to follow.

What kind of tools and indicators will they not want to disclose? Trading is risky and they want to use it to make money is not easy to learn, but a consistent trader will learn more as he continue to trade. There is nothing hard in trading if you look for better strategies that can help while common indicators are enough along side with it.

It seems that until now I have never done an analysis using tools or similar services which are widely available, because I myself don't really trust it.

You do not trust what you do not learn and know about, that is wrong. You have your own way of analysing the market? But no way to be 100 percent accurate, no matter how good the analysis, there are sometimes it may fail, trading is more than just using indicators.

[justdimin]

Tell us your experience with different tools and services to analyze the cryptocurrency market

Which ones helped and which ones,on the contrary,made the situation with trading worse

Few of basics like pattern recognition in line chart and candlesticks always proved as a better one in higher time frames. But, we need multiple confirmations to take any trading decisions which is the reason I always go with pivot point analysis along with RSI oscillator. These are all more effective when combined and for higher time frames. If you want to use these for day-trading signals then you may end up losing for sure.

Usually all trading tools are too good for decision making in long term trading. I am always preferring holding still I do risk on riding on trends in long term and for this I go with larger time framed signals which are comparatively effective to get me better results.

[GeorgeJohn]

Trading is risky and they want to use it to make money is not easy to learn, but a consistent trader will learn more as he continue to trade. There is nothing hard in trading if you look for better strategies that can help while common indicators are enough along side with it.

trading is easy to learn and also easy to comprehend all the necessary protocols, but factor that will make a trader to have courage for continuous practicing trading is your ability to bear your lose. And for you to know more about trading through a consistent trading, you most have undergoes disadvantages in trading, which in a nutshell you have experience a lose in trading. So in trading you most experience lost to enable you to know the basic things about trading risk.

[palle11]

It seems that until now I have never done an analysis using tools or similar services which are widely available, because I myself don't really trust it. always try to use my own analysis predictions, even though they may not be completely reliable, they can add confidence to continue to hone better in the future.
I'm really sorry I can't share what you want, but I'll also try to see what other friends share and want to analyze first whether it's really useful.......

What else do you trade with if not indicators or are they your personal robots? Even if they are robots, they are also built or founded through indicators. Indicators are just guidelines that we use to have a trace of where the market could move to. So whether you are using default indicators or those that you have built you are still having a clue from the market to analyse.

[Mpamaegbu]

Back in the day, I used to play with Poocoin and Tabtrader as platforms to monitor trades and do my analysis, technically. I still take a peep at them till date but I've since moved over to MetaTrader5. It's easier to chart on Meta5 and demarcate the daily since I also use it for other trading businesses and engagements. I once tried to monitor my trades on Tradingview but couldn't find it any better. On the part of indicators used, I like staying with leading indicators of Support & Resistance, Pivots, Trendlines or any other indicator that doesn't repaint.

[TheGreatPython]

It seems that until now I have never done an analysis using tools or similar services which are widely available, because I myself don't really trust it. always try to use my own analysis predictions, even though they may not be completely reliable, they can add confidence to continue to hone better in the future.
I'm really sorry I can't share what you want, but I'll also try to see what other friends share and want to analyze first whether it's really useful.......

What else do you trade with if not indicators or are they your personal robots? Even if they are robots, they are also built or founded through indicators. Indicators are just guidelines that we use to have a trace of where the market could move to. So whether you are using default indicators or those that you have built you are still having a clue from the market to analyse.

I don't think he uses robots or bots because he said he is not into tools but he prefers to do it on hand or manually. Maybe he was a newbie trader because those newbies don't like to complicate things and they think they can still be successful in trading only by a simple buy low sell high and trusting their own instincts. Some of them can be lucky but it will be better to learn the advance techniques to be able to grow as a trader.

Anyone can share the tools that they use but it will still depend on the ability of those who will try it and also on their luck. We need to practice on using them first to have a better judgment if they are really working or not.

[crwth]

I'm using a tool called Gunbot. There are a lot of features packed into it, and it would be helpful for traders like you and me.

• Trading 24/7 - Maximizing the market potential
• Consistent trading - The bot will follow rules that you have set, and it will be consistent and efficient
• Backtesting - You can backtest your trading strategies then you can evaluate the best strategy that you have
• TradingView Charting Tools

Make sure to know that you will have to set the parameters etc.

[@sriyan]

My suggestion is to learn about smart money concepts and volume analysis. Then you will understand how Institutional Traders will behave. 
If you want to learn how retail traders will behave, then you can use the other indicators and tools in the trading view.

1. Smart Money concepts
2. Volume Analysis

In addition to that, you can try out the RSI, Moving Average indicators.

[Peanutswar]

Today there are a lot of resources on the internet, better to learn first the basic fundamentals of trading so you can now understand how it works such as the terminologies, and you can check the execution of the trades online and afterwards learn to use a trading tool, I prefer with the Trading view before using the Binance for the execution of position. The trading view is already has a lot of features you can use for your trades that you've watch in the videos. I do always make a plan, test and execute if make mistake make it analyze and avoid mistakes again..

[LUCKMCFLY]

My suggestion is to learn about smart money concepts and volume analysis. Then you will understand how Institutional Traders will behave. 
If you want to learn how retail traders will behave, then you can use the other indicators and tools in the trading view.

1. Smart Money concepts
2. Volume Analysis

In addition to that, you can try out the RSI, Moving Average indicators.

This is good, before trading you should try to understand each concept that refers to the theory, now, once you can understand certain concepts, it is best to try to understand certain market movements, this to then mess with the analysis tools technical and the corresponding indicators, because what I believe is the following, many who want to start trading only dedicate themselves to technical analysis and only go down that path, and it is not bad at all, only that the market does not move by mathematics or Because an indicator can say, the market is moved by emotions, by fundamentals, among others.