Trading is beyond technical analysis

[Oshosondy]

This is for beginners traders because I now old traders like know these already.

You set indicators, the market fall to where you supposed to buy, like in an oversold market, you buy the coin, thinking the price will start rising. The market show as if the price will start rising but the later continue to fall and fall the more. In the process, your money got liquidated. Your tried it for overbought market but the same thing happened and your money got liquidated.

All of us that are old traders know this, so you really need to make use of strategies that can help you not to lose much and that can lead to possible recovery not avoid martingale.

Trade with the money that you can afford to lose to help you fight emotions
Do not use leverage or use very low leverage like 1.5x
Avoid most altcoins
Averaging is good but martingale is your enemy
Risk management is important
Money management is also very important
Do not trade in a way that you will always watch the screen in panic
Fundamental analyses can help in knowing when to buy at times but still be careful because it is also not enough just like technical analyses.

Old traders,  if you need to give advise, what are they?

[Wiwo]

I think it's dumb enough to take up on a trade that you know you get liquidated, is not wise to open up a position that you don't have enough fund's to service in case of market crash, why most derivative traders get liquidated is because of their greed.

You believe you know the market so much, and thereby gamble with the market by increasing your risk level on an XX basis.

Just know that the higher your leverage, the closer you are to your liquidation price unless you have enough reserves to keep servicing your positions.

[Rruchi man]

Old traders,  if you need to give advise, what are they?

As I already said, my advice to you as a beginner in trading is to become more careful with trading when you start winning trades.

It may sound strange, but the truth is that at that point where you start winning trades, you may just become too overconfident and decide to start skipping rules that made you successful, and that will be the way to blow your account.

When you win a trade, be very careful about your next trade.

[Finestream]

Old traders,  if you need to give advise, what are they?

As I already said, my advice to you as a beginner in trading is to become more careful with trading when you start winning trades.

It may sound strange, but the truth is that at that point where you start winning trades, you may just become too overconfident and decide to start skipping rules that made you successful, and that will be the way to blow your account.

When you win a trade, be very careful about your next trade.

Your initial winning trades do not guarantee that the next trades will still be as positive and profitable like the first. The trading market itself has always been unpredictable, so you have to trade cautiously and trade at your own risk and limits.

Overconfidence will develop because of too much greed from winning, and if you left it uncontrolled, not only you will lose your trading capital, but you will also lose the drive and efforts you put into your trades. So always chose to trade at your own risk.

[PX-Z]

I don't really trade, particularly futures or margin, since the risks are high and liquidation can wipe you out quickly. Technical analysis is something i've trie before, but it's still beyond me lol. To me, trading feels similar to sports betting, winning often comes down to probabilities and repeated attempts. That approach just isn't for me, so i mostly avoid trading or gambling, except for the occasional sports bet on teams i'm familiar with that i mostly win.

[JeffBrad12]

Right on the money, just because the RSI is at the oversold level doesn't mean it can't go lower. Technical analysis is just an educated guess but at the end of the day it's still a guess, a speculation.

I traded future a lot but never with the money I can't afford to lose. I tried my luck opening shorts and long after the price has moved so significantly waiting for re bounce but even in the worst case scenario of market going the opposite of my prediction, my lost money can be recovered easily.