Candlesticks never made me money. So why do I still stare at them every day?

[Donk1]

Well to be frank with you, I think the issue is that you entered the market due to hype that the market has money the same market that often liquidated retail traders. For that fact to me, you had no potential interest in the market to begin with, because anything driven with hype doesn't have real value. I can't really say for certain whether or not you were not willing to learn, but the outcome of each individual as a trader varies.​Basically trading any financial market, first you have to research if the market has value or not. Either financial market or crypto, most of them lack high demand and supply.best to say price can often just move in different directions, which makes it hard to even analyze, and yeah your analysis might be right, but the market has no defined bias.

​That said the mindset of going back to the market is perhaps one in three categories either you're telling yourself that you're being consistent, you are revenge trading, or perhaps you don't want to give up yet.to me the only thing that can make you as a trader consistent in trading is the determination that you can be profitable if you approach the market with the goal of learning first. but like I said earlier  the outcome varies that's all....

[PostQuantumBTC]

So, a question for the rest of you: if charts never paid you, what keeps you coming back?

I have once be like this. The reason I was like that was linked to what happened when someone is looking for money while gambling. What make you going back is because you think there is a big chance of making money from trading. This is how some will result to addiction which trader need to avoid.

[Zigabel]

So, a question for the rest of you: if charts never paid you, what keeps you coming back?

Translated into English with AI assistance.

If the charts never paid me, firstly i will want to inquire why its paying others and i am not getting paid from it, and then i will go ahead to making sure i put in the effort to get as much knowledge as others has got which is in turn making them money after which i will give it another trial but then again if after all of these attempts i still do not see as much results or i still don't get paid by the chart, i may opt to quit because there's no point then.  I have seen others who has put in the work to study and get it wright and the chart has so far paid them so well so there are absolute chance for you to get paid too if you put in the work, so don't just give up on the chart just yet, your day may be closer than you know but you never can tell until you you keep trying and that day comes.

[KingsDen]

It started in a bull market. Everybody was saying they made money off charts, so I downloaded a trading app to "verify" it. My so-called verification was a compound interest calculator. Add a little every day, wait a year, and boom, a number with way too many zeros. Conclusion: this stuff really makes money. That's literally the whole reason I started looking at candlesticks.

I also started during the 2021 bull run, I thought trading was the easiest way to get rich. Meanwhile, I already failed in Forex trading with bot. I didn't know how to manipulate the bot, but I was shown the excellent results of the bot. Within a few months, I blue my account severally after spending much to acquire the bot.

I stopped Forex trade and hated it, then came crypto which I thought was different. During the bull run, it was easy to buy low and sell high, I thought it was all not until the market tested my emotions.

Quiting trading was among my wisest decisions in this industry. Every newbie will think that trading is a short way to financial freedom until they are hit by reality.

I never wanted my life to depend on somebody else's decision. I watched my parents hand their fate over to a field, a factory, and time, and I couldn't stop thinking, what if I tried to carry mine myself? The first time I looked at a chart, I already knew nobody around me could help with this. So I sit alone with it, and honestly, I'm okay with that. Maybe I never reach the finish line. But I'd like to be able to say I tried it my own way.

Mate, even the candlesticks you see are people's decisions. You can't decide alone, maybe you kept failing because you don't follow the decision of the market movers.

So, a question for the rest of you: if charts never paid you, what keeps you coming back?

People keep coming back because there's a promise that chat will still pay and some people are jobless - leave the charts and have nothing tangible doing, you'll surely return.

[lishuguang]

Thanks everyone for the new replies, I read all of them this morning.
@Japinat, buying only when there's real panic sounds a lot calmer than what I've been doing.
@ovcijisir, "a clean cut" is something I keep thinking about. Sorry about the Cryptopia loss.
To #19: you're right, it was never really about the candles. Small correction, the backtest came down to 30%, not -19%, though real life has been less kind than either number.
@Donk1, I'd like to think I'm in the "don't want to give up yet" group, but I can't rule out the other two.
@Joy- maker and @KingsDen, quitting seems to have worked well for a lot of people here. I'm not there yet, but I'm listening.
Translated into English with AI assistance.

[pooya87]

Generally speaking trading in different markets has a certain level of risk involved and turns it a little bit into gambling. In some markets like stock market this is more palpable. In other markets like the altcoin market, gambling the only thing that exists!

And we know that gambling is addictive. At some point people will start seeking that thrill not the profit. They keep "betting" on various altcoins or tokens hoping for a "win". But since the "house" always wins, they keep losing money and come back to the "casino" that is the altcoin market to lose some more money.

[lishuguang]

@pooya87, the part about seeking the thrill instead of the profit stings a little. Looking back honestly, some of my trades were more about wanting something to happen than about any plan. These days I try to stick to rules I've backtested, but I can't fully rule out that the rules are just a nicer-looking casino ticket. Thanks for the reality check.
Translated into English with AI assistance.

[traderethereum]

Curiosity is the thing that makes us coming back because we thought that we need to learn more. We don't realize that maybe trading is not fit for us but we forcing it and say that someday we can be a pro. I don't know the real situation on you but if you want to trade again, you should focus on how to analyze the chart.

You can search for the tutorial or lessons and maybe practice using demo account is good to try.

But if you could consider to change your mindset that trading is not for you. If you agree, you can become an investor which is not too complicated as trading. You only buy and hodl following your target price to sell.

Holding the coin reducing the desperation feeling because of losing money and you only wait for the time to sell.

[Sticky Bomb]

So, a question for the rest of you: if charts never paid you, what keeps you coming back?

I kept coming back with the hope of making money one day, until I became honest with myself and never came back. Somewhere along the line you should be able to have a clear examination what you've lost and what you could've done differently. I got to that breaking point and realized that looking at the charts is not my calling. I stopped trading, put funds into learning a skill and got my life together and now earn consistent income. I found peace when I learned holding, now I no longer trade, I just hold BTC.

[Floczy]

This is too long for the simple point you made


Well I gave someone a helpful information, it could help reduce the friction of your trading journey, I haven't gotten any reply from him yet, I don't know if he found it helpful or he just abandoned his thread, but I told him to give me a reply if he needs something better but he didn't, so I'll just drop the link of the post I made check it out maybe it will be helpful to you.

https://bitcointalk.org/index.php?topic=5597244.msg67273547#msg67273547

[lishuguang]

Thanks for the replies.
@traderethereum, fair point. I've spent more time learning charts than I'd like to admit, and it hasn't shown up in my account. Holding is probably the more honest option for someone like me. The hard part is sitting still.
@Sticky Bomb, thanks for sharing this. Putting the money into a skill instead of the next trade sounds like the sensible move I keep postponing. Glad it worked out for you.
Translated into English with AI assistance.