Trading is beyond technical analysis

[Dreadboost]

Making money from trading is not something that we can call easy it is something that have to be worked for hours of trying to do market analysis and at the end of the day you can end up still not making profits so this is something you have to be preparedfor not coming into trading with the mindset of making quick money you will only be disappointed the money is there but the sacrifices is what a lot of people are running away from and they want to make money so there is no way things can even go well so at this point they need to understand the picture of what they are getting into.

Trading is cool but comes with a lot of responsibility even more than holding and how emotionally prepared are you when you lose money hope you won't behave like a greedy trader that is what most of them do, but everything needs patience you should not make decisions just because of how hurt you are when you trade it's not going into your favor the you should learn to manage it better and continue when you are calm.

Speaking from experience, you need to be financially stable to be a trader. The successful trader you see in the world today, did not hit it big over night with little trade amount. Note, I'm not referring to those content creators and affiliate marketers who call themselves trader. I am referring to the real trader in the business. My mentor made money as a business man before venturing into trading full time. Now trading has made him more successful.

The internet has been helpful but I would say, the internet has also done a lot of damage to those who follow instruction from anyone they see on social media. Trading requires proper preparation. Preparation of the mind, financial preparation, tolerance, discipline and most importantly the trading skill. When all of this has been put in place, things will hardly go wrong in your career as a professional trader.

[I_Anime]

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?

There many things one need to know as newbie in trading . One of the most important one is following or using what you have learnt , stick to your strategy to go beyond it. Many traders don’t usually follow their principles, they trade like if they where gambling , and always trust the process trading is not a race so there’s no need to rush it just take your time enjoy the ride , though is not a smooth ride cause losses are inevitable but learn how to handle it .

[Faisal2202]

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.

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

I can't agree more, the advice you gave covers the most painful lessons most traders learn through actual losses, so any beginner reading, take it seriously, and keep them in mind when trading. Actually write them down.

Newbies should understand the difference between trade and investment too that they can do by understanding the different types of trading first. They also have to understand what is diversification and averaging, because both are tools for risk management to increase profits.

Finally protecting our capital is above everything else, an account down 50% needs a 100% gain just to break even. So it does not mean we should stay small, when market is 50% down, don't wait for break even, buy more if the coin is bitcoin, because by the next break even price you will recover your capital plus the 2x profit.

[Josefjix]

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.

You saying out of experience,  I feel that, but I may be asking, what are the rules you have set for yourself that you broke immediately you started winning, I don't want to overthink myself to know these rules but your explanation to a little extent of the rules will be appreciated.

Just trying to ask this to compare to what I am thinking.

[JeffBrad12]

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.

That's true, set target and if the target of the day is reached, its always better to do something else instead of overtrading.

I've learned this from the machi big brother on chain trading activity. The guys make their way to $75M pnl from trading and right now they blew out their profit because they are over trading and currently keep losing.

[EarnOnVictor]

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

You are making sense about this, for there are many ways to read the market and its psychology, and of course, none of them should be expected to be perfect. News and events are other ones that cause huge volatility, but they could also be read wrongly. While when read right, the speculation might disappoint for no reason.

For this, it's good for traders to stay on alert and on course and ensure they revolve around the market sentiments and use what works best for them. Technical analysis works best for me despite knowing all approaches. It all depends on what you trained for.

[Dr.Bitcoin_Strange]

Trading is not only based on tech analysis, it relies on both tech and fundamental analysis and also one's psychological state, trading is not for everyone and that's because some people are just naturally no risk takers (especially the kind of trading risk), they are just cool with something that is straight forward and easy going and that's why when they start trading, even with a low leverage, they still end up blowing accounts several times. I will advise anyone that has interest in trading to examine their self first and to know if they qualify to be a trader before going into trading.

[Charles-Tim]

I will advise anyone that has interest in trading to examine their self first and to know if they qualify to be a trader before going into trading.

They will not listen to your advise as most of the traders are losing. This is the simple thing that I have noticed about trading. Among people that I know that are trading, they are all losing. You can see them saying today they they make money today, tomorrow and on more days, but you will be surprised if they come to borrow money from you. Some people are actually not like that, but you will not see them buy a car or a build house but if not trading, they would have lived a better life. Looking for fast money is a bad idea for nearly everyone.

[Dzwaafu11]

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.

I’m not trading all the time, and I’m not really trading that much but I know this must be due to the strategy that such trader who experience this problem used, honestly is good for any trader to use a good strategy that can help them out in their trading space.

Although new traders won’t really understand this but honestly you are right, once a trader see that he keep loosing in the market what he need to do is to make use of another strategy, so he will benefit from what he’s doing.

[bitgolden]

I will advise anyone that has interest in trading to examine their self first and to know if they qualify to be a trader before going into trading.

They will not listen to your advise as most of the traders are losing. This is the simple thing that I have noticed about trading. Among people that I know that are trading, they are all losing. You can see them saying today they they make money today, tomorrow and on more days, but you will be surprised if they come to borrow money from you. Some people are actually not like that, but you will not see them buy a car or a build house but if not trading, they would have lived a better life. Looking for fast money is a bad idea for nearly everyone.

One of the main reasons why most traders who become veterans do not care what anyone else say, is because when they were newbies they listened to others and most of the time they lost money.

So in order to not stop trading and keep trading and find a way to make money, they had to become good at trading themselves, so now they do not care what everyone else says and they just end up doing what they do and that is the best situation for them, and they make the most money that way.

[Barikui1]

Trading is not only based on tech analysis, it relies on both tech and fundamental analysis and also one's psychological state, trading is not for everyone and that's because some people are just naturally no risk takers (especially the kind of trading risk), they are just cool with something that is straight forward and easy going and that's why when they start trading, even with a low leverage, they still end up blowing accounts several times. I will advise anyone that has interest in trading to examine their self first and to know if they qualify to be a trader before going into trading.

I agree with you that knowledge on technical and fundamental analysis alone can't make you a successful trader, because if you don't know how to control your emotions, all you technical and fundamental knowledge becomes a waste, since you will start making stupid and impulsive decisions due to your inability to control your emotions.

Additionally, patience is one thing all traders must have, because if you can't be patient enough to wait for only the right set up, you are definitely going to be losing money consistently, since you don't just trade anything you see in the market and expect to be a profitable trader.

[justdimin]

They will not listen to your advise as most of the traders are losing. This is the simple thing that I have noticed about trading. Among people that I know that are trading, they are all losing.

Most may be losing, so that means there is still a few that are winning. And these few is what listen's to him but that is if he is earlier than them. For me, the simple thing I noticed in trading is that when I open my social media account, most trading videos that I see are all winning. Some are only fake though. It is either they are just bragging or shilling something.

You can see them saying today they they make money today, tomorrow and on more days, but you will be surprised if they come to borrow money from you.

This is usually the situation of those who are cocky or have lots of ego on them. They can still be right at first that they know everything and makes money but it is just their full confidence is what makes them to greedy and we know that if we are greedy, time will come that the situation will soon shift.

[Kelvinid]

Therefore, we should also adopt those essential non-technical profitable habits like strict risk management, discipline and planning, trading with highly liquid stocks, and by following those trend and fundamentals, and simply trade in that direction. Trading is more reliable and profitable when we do technical and fundamental analysis at some point.

In addition, trading is also a psychological and behavioral game, not just on a mathematical point in trading.

[UmerIdrees]

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.

Trading these days is more driven by fundamental analysis than by technical analysis. However, I do believe that the technical indicators work on lower time frames.
For example, if you know the support and resistance, the market does show respect for those levels in lower TF. You may still see bounce or rejection from the Order block and the SMA or EMA still act as a support or resistance, in case of any news, US data, or any trump tweet, the market sometimes wouldn't respect these obvious levels. One needs to trade with a tight stop loss these days.

[OsaiEmma]

I think the most important thing when it comes to trading is to have enough capital. Your strategy might be solid, but it probably needs a little testing and some failures to get it right, if you don't have enough capital, you might be kicked out of the game before you can start seeing profit.

And another thing with low capital is that, you will start over leveraging on the get go because your capital is small, and you want to make crazy amount of profit, this is a very dangerous setup, being greedy.

So, when you're coming in with the skills, discipline and what not, also ready your capital, because that is key. And, anyone that tells you things like, you can turn into a millionaire with just little funds in trading, those people are being deceitful, there is little chance of that happening (not saying it can't happen). Someone once said, if you want to make millions in trading, you need to have billions lol.

[hafiztalha]

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.

Trading these days is more driven by fundamental analysis than by technical analysis. However, I do believe that the technical indicators work on lower time frames.
For example, if you know the support and resistance, the market does show respect for those levels in lower TF. You may still see bounce or rejection from the Order block and the SMA or EMA still act as a support or resistance, in case of any news, US data, or any trump tweet, the market sometimes wouldn't respect these obvious levels. One needs to trade with a tight stop loss these days.

People are expecting the return on their inventment which they did for the future and they are Taking decisions for their families because they want to give all facilities of the life and trading is not an easy task because you have to focus on the market on every second and if you are losing your money on that you are in loss and you have to do all type of research as one type of analysis is not enough to be dominant in the market and you have to focus on all things. People are give the information on the YouTube to become successful trader but this information is not enough because there are many lope hools and you can lose you most of the money in that in a short time.

[Somto9Light]

There many things one need to know as newbie in trading . One of the most important one is following or using what you have learnt , stick to your strategy to go beyond it. Many traders don’t usually follow their principles, they trade like if they where gambling , and always trust the process trading is not a race so there’s no need to rush it just take your time enjoy the ride , though is not a smooth ride cause losses are inevitable but learn how to handle it .

You’re right about trading not being such a smooth ride, and I don’t see any newbie trader enjoying such bumpy ride lol. Due to the complexities that comes with trading, some newbie traders even end up giving up along the way even before they start making some profits. Anyone who’s entering into trading should understand that trading isn’t something that brings easy profits, even though this is the mindset that a lot of people have, sure people are making some short term gains off of trading, but to get there requires some level of commitment and patience.

[Silikiem]

There many things one need to know as newbie in trading . One of the most important one is following or using what you have learnt , stick to your strategy to go beyond it. Many traders don’t usually follow their principles, they trade like if they where gambling , and always trust the process trading is not a race so there’s no need to rush it just take your time enjoy the ride , though is not a smooth ride cause losses are inevitable but learn how to handle it .

You’re right about trading not being such a smooth ride, and I don’t see any newbie trader enjoying such bumpy ride lol. Due to the complexities that comes with trading, some newbie traders even end up giving up along the way even before they start making some profits. Anyone who’s entering into trading should understand that trading isn’t something that brings easy profits, even though this is the mindset that a lot of people have, sure people are making some short term gains off of trading, but to get there requires some level of commitment and patience.

Trading especially when it’s done with the hope of getting rich quickly is very dangerous. Nothing worthwhile comes easily, most people are greedy to the extent of forgetting to take care of their basic financial needs first and they rush into putting all their income into bitcoin with the hope of trading for quick gains and at the end they got disappointed and when is time to settle their basic needs they trade at a huge loss because they need the money to foot their bills and at the end of the day it’s still not enough to Carter for the basic needs as a result of poor trading.

[I_Anime]

There many things one need to know as newbie in trading . One of the most important one is following or using what you have learnt , stick to your strategy to go beyond it. Many traders don’t usually follow their principles, they trade like if they where gambling , and always trust the process trading is not a race so there’s no need to rush it just take your time enjoy the ride , though is not a smooth ride cause losses are inevitable but learn how to handle it .

You’re right about trading not being such a smooth ride, and I don’t see any newbie trader enjoying such bumpy ride lol. Due to the complexities that comes with trading, some newbie traders even end up giving up along the way even before they start making some profits. Anyone who’s entering into trading should understand that trading isn’t something that brings easy profits, even though this is the mindset that a lot of people have, sure people are making some short term gains off of trading, but to get there requires some level of commitment and patience.

That’s why it’s called the “hardest way to make easy money” . Despite the fact that one can make good money from trading doesn’t make it easy , and that’s where the discipline and determination comes in to be ready to endure and keep learning no matter how complex the process may seems to be .

The learning process never end despite trading for a while now I’m still learning each day relearning what I have learned before to improve my knowledge more so that I can keep up and survive any market conditions, one of the ability that wills save you in the market is adaptability to adapt to any market condition.

[Cgrexp]

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?

There many things one need to know as newbie in trading . One of the most important one is following or using what you have learnt , stick to your strategy to go beyond it. Many traders don’t usually follow their principles, they trade like if they where gambling , and always trust the process trading is not a race so there’s no need to rush it just take your time enjoy the ride , though is not a smooth ride cause losses are inevitable but learn how to handle it .

In trading, one should not follow or rush anyone. Decisions should be creat based on one's own strategy and plan. for a trader balance is important in trading. Therefore, one should follow the rules and adjust as needed after seeing the results. Many people think of trading as gambling and enter trading without a plan, due to which they cannot accept losses due to the expectation of profit. One should trust in one's own process. One's own risk capacity, clear planning and mental control help a trader to make rational decisions instead of emotional ones. It is important to follow the rules in trading, but not to go blindly. Rather, one should try to improve decisions and plans based on results. And proceed according to one's own risk capacity without excessive haste. Discipline is the ability to improve decisions by following rules, plans and analysis.