Trading is beyond technical analysis

[Uruhara]

An experience trader would not rely solely on overbought and oversold indicators like MACH, RSI etc to place a trade on a single timeframe, basically traders frame their analysis from higher timeframe down to lower timeframe where entry is triggered thus the use of vindicators would be deployed for perfect entry, its unfortunate that newbie traders use a one timeframe for both analysis and entries using the so-called indicators thus resulting to instant liquidation of their account, More so Fundamental analysis can be considered when analysing any trade because a positive news indicates a bull run while any negative would trigger dump in prices

This also reminds me of when I first started trading crypto. And well, my mistake back then was only doing technical analysis on a single timeframe without reviewing all timeframes, especially looking at the overall trend direction on the higher timeframes. Smaller timeframes have more volatile price movements, but we can predict the direction when we understand the trend on the higher timeframes. And that’s all through technical analysis.

It’s also important to incorporate fundamental analysis because every piece of news is highly valuable and can shift the trend direction and market sentiment. Typically, fundamental analysis should be combined with sentiment analysis. That way, we’ll truly understand how traders are moving in the market. That’s why paying attention to the Fear and Greed Index is also crucial.

[Peanutswar]

Trade with the money that you can afford to lose to help you fight emotions \

When it comes with trading you must need to stick with your strategy and set up we arent trading with our emotions or else this now becomes like a gambling.

Do not use leverage or use very low leverage like 1.5x

Than making this kind of leverage I guess I do recommend to deal with spot trading. For me its about risk management basically for me 10x is the possible lowest than having this 1.5x

Avoid most altcoins

Not all alts are enemy, people seen potential with the alts of course depends on their use, but I do recommend avoiding memecoins specifically.

Risk management is important
Money management is also very important

This both concept are the same basically. If you have risk management you know how to handle the risk, capital and even the PNL.

Do not trade in a way that you will always watch the screen in panic

If there are no set up, dont trade. Sometimes people use their emotions and once they tried to confirm with the chart its already at the peak but for bearish strategies its ideal to them to make short position.

[Nheer]

Yeah, the market sure can be tricky. Strategy is key, but even then, it's about executing it right. And as Oshosondy mentioned, managing your losses early can make all the difference. Without proper risk and money management, no strategy will save you from a big loss. So yeah, smart moves and solid risk control, those are your best allies in this game

Some traders fails to control their risk while trading and even with proper strategies of a trader doesn’t apply proper risk management to their trading practices then easily all their hard work would just go in vein within short period of time because risk management helps to protect and build our portfolio instead of it getting liquidated.

Let make sure our losses are within our control, we should have total control of losses and know how to apply risk management to it so not to make little losses turn into something massive. Losses are inevitable sure but let reduce the losses.

[tygeade]

It is not too much beyond technical analysis. I understand that there are situations where technical analysis could be wrong, but that doesn't mean that we should give it up. If you learn technical analysis very well and become expert at it, then you are going to make profit from trading, it could be a very simple btc-usdt type of pair, it could be something with much less volume and liquidity, as long as you know how to read it and can react to it then you are going to make a profit long term.

Yes this week could be bad, yes even a month could be red overall, but if you are very good at it then long term you should be able to make a profit from it, if you are not then you are not good at technical analysis to begin with.

[Yorubek]

Yeah, the market sure can be tricky. Strategy is key, but even then, it's about executing it right. And as Oshosondy mentioned, managing your losses early can make all the difference. Without proper risk and money management, no strategy will save you from a big loss. So yeah, smart moves and solid risk control, those are your best allies in this game

Some traders fails to control their risk while trading and even with proper strategies of a trader doesn’t apply proper risk management to their trading practices then easily all their hard work would just go in vein within short period of time because risk management helps to protect and build our portfolio instead of it getting liquidated.

Let make sure our losses are within our control, we should have total control of losses and know how to apply risk management to it so not to make little losses turn into something massive. Losses are inevitable sure but let reduce the losses.

There is a risk of losing money through trading, so it is better to trading with the money we can afford to lose, so that there will be no additional financial stress due to losing money and you can trading with peace of mind. If a person is not greedy, patiently does proper research, understands the volatility of the market enters at the right time and exits the market at the right time without being overconfident there is a possibility of making money from trading. I think that the person himself is responsible for failed or success through trading it depends on using proper research understanding the volatility of the market and using strategies. Making money through trading is not as easy as we think it is in reality.

[LastKiss]

Do not use leverage or use very low leverage like 1.5x

Than making this kind of leverage I guess I do recommend to deal with spot trading. For me its about risk management basically for me 10x is the possible lowest than having this 1.5x

I agree even using 10x leverage is still acceptable if we know how to use it properly, if people only recommend using 1.5x leverage then spot trading is probably much better. Leverage trading gives traders the opportunity to take high risk for high reward where they can trade with low capital but feel like they are trading with bigger capital so the potential returns can be maximized. We just need to know the strategy, use stop loss avoid chasing trades and not force ourselves to trade every day.

It is not too much beyond technical analysis. I understand that there are situations where technical analysis could be wrong, but that doesn't mean that we should give it up. If you learn technical analysis very well and become expert at it, then you are going to make profit from trading, it could be a very simple btc-usdt type of pair, it could be something with much less volume and liquidity, as long as you know how to read it and can react to it then you are going to make a profit long term.

~snip~

Since there are a lot of indicators we can use in trading, it takes time to understand most of them. Of course, we also need time to gain experience because we will make many errors and mistakes before getting better at making decisions while trading. And that’s only TA because there are still many other things we need to learn in trading. Although the basics are enough to start over time things like risk management, self control and fundamental analysis will also be very helpful for us.

[masulum]

It is not too much beyond technical analysis. I understand that there are situations where technical analysis could be wrong, but that doesn't mean that we should give it up. If you learn technical analysis very well and become expert at it, then you are going to make profit from trading, it could be a very simple btc-usdt type of pair, it could be something with much less volume and liquidity, as long as you know how to read it and can react to it then you are going to make a profit long term.

Yes this week could be bad, yes even a month could be red overall, but if you are very good at it then long term you should be able to make a profit from it, if you are not then you are not good at technical analysis to begin with.

Technical analysis is only a tool, it is not a tool that gives guarantee for a trader to get profit. Even if someone become an expert, it doesn't guarantee the analysis result is correct, because the market moves according to market players' will, not because of personal analysis from the trader. Always having a backup option when the market moves against the analysis result is the best way for all traders to minimize loss.

[macson]

Technical analysis is only a tool, it is not a tool that gives guarantee for a trader to get profit. Even if someone become an expert, it doesn't guarantee the analysis result is correct, because the market moves according to market players' will, not because of personal analysis from the trader. Always having a backup option when the market moves against the analysis result is the best way for all traders to minimize loss.

That's what I've always believed no matter how good our technical analysis is, if the market moves against us, it's useless. That's why traders are always encouraged to practice sound risk management to save their trades when the market moves against them. While technical analysis only helps predict probabilities, no one can predict market direction with certainty, and If traders aren't able to prepare a plan B, they're likely to face a margin call.

[iBaba]

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?

One thing I have learned is that no indicator is perfect no matter how good it looks
Sometimes the market can stay oversold or overbought longer than expected and that is where many beginners get trapped and liquidated. That is why that risk management, patience and emotional control matters a lot in trading.
Another thing is that beginners should avoid that greed or fear and chasing quick profits. Protecting your capital is more important because once the money is gone recovery becomes very difficult.

[tvplus006]

...Do not use leverage or use very low leverage like 1.5x...

If a trader understands how the liquidation of a position is calculated, it does not matter what leverage he uses in trading. The main thing in this case will be the size of the position being opened relative to the margin available on the balance sheet. That is, if you have a margin of 1,000 bucks and you open an order for $2k, it doesn't matter which leverage you use at the same time, 1.5x or 50x.

[masulum]

That's what I've always believed no matter how good our technical analysis is, if the market moves against us, it's useless. That's why traders are always encouraged to practice sound risk management to save their trades when the market moves against them. While technical analysis only helps predict probabilities, no one can predict market direction with certainty, and If traders aren't able to prepare a plan B, they're likely to face a margin call.

Right, we must still have a plan to face market condition that changes and not match with the prediction we set. Trader failure in keeping their money is when they assume that prediction and indicator is a guarantee that they will entry correctly. Beside that, they use indicator signal as a guarantee to enter future market with high leverage with high liquidation threat. The funny thing is, when they get loss because liquidated due to high leverage, they shout that crypto is scam.

[RockBell]

This also reminds me of when I first started trading crypto. And well, my mistake back then was only doing technical analysis on a single timeframe without reviewing all timeframes, especially looking at the overall trend direction on the higher timeframes. Smaller timeframes have more volatile price movements, but we can predict the direction when we understand the trend on the higher timeframes. And that’s all through technical analysis.

When people see figures, when they start to trade, they think it is that easy until they see that it is not as easy as they think, because it takes a lot for you to enjoy trading, because even with your market analysis, you will need to just accept something the way they are just for you to that its always not going to go the way you want it that is just how it works so you have to make your self understand the system and that is why a lot of people are even considering quieting trading because the technical truth is that trading can not be for everyone.

It’s also important to incorporate fundamental analysis because every piece of news is highly valuable and can shift the trend direction and market sentiment. Typically, fundamental analysis should be combined with sentiment analysis. That way, we’ll truly understand how traders are moving in the market. That’s why paying attention to the Fear and Greed Index is also crucial.

You can not do without it, even as the system does not bank on analysis most times because they can fail you, you still can not do without so if you are trading, then it should be that it's something you want to do, whether you are making a profit or not, the best things still stand as it is, and one thing i have noticed about traders they are not weak people especially when it comes to emotions, emotions don't work in trading.

[bangjoe]

That's what I've always believed no matter how good our technical analysis is, if the market moves against us, it's useless. That's why traders are always encouraged to practice sound risk management to save their trades when the market moves against them. While technical analysis only helps predict probabilities, no one can predict market direction with certainty, and If traders aren't able to prepare a plan B, they're likely to face a margin call.

It is useless if the situation is very bad in the market, sometimes the market is unpredictable, we as traders must understand very well how to handle the risk of failing to predict prices, therefore Stop lose is very useful to carry out plan B or minimize losses in an uncertain market, for me technical analysis is still useful because it is a picture of trading data to see how a trend is made in price movements, I agree that it is not a guarantee to see the future but at least we can see the probability of two directions that we can anticipate and execute, without it I am even more confused to assess and analyze movements.

[shawonngp]

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.

Future trading or margin trading is like gambling. The risk here is very high and if you make a wrong entry, there is no benefit even if you hold it for a long time because in that case there will be a risk of losing the entire fund, so if you make a wrong entry, you may have to close at a loss or lose the entire fund. Those who do futures trading gamble with the market. Just as in gambling, except for a few lucky people, nothing good comes and they cannot protect it, in futures or margin trading too, some traders can make good profits and protect them and the maximum trader cannot protect his fund. I have done futures trading for a while, but the risk here is too high, so I gave up.

I agree with you, future trading is too risky compared to gambling. The risk level of both is the same, I mean, there is no difference between them. If you do not have strong fundamental knowledge in future trading, you should not do it. If there is wrong timing or a wrong entry in it, the entire loss is inevitable; the entire fund is lost very easily. Although I am not experienced enough in futures trading, I took a few entries and lost all of them. Future trading is not like spot trading; there is no way of long-term holding here, and losses can be said for sure. Only those who have luck in their favour can profit, no way to protect the user's fund.