What do you think about "Technical Analysis"?

[Sajjad noori 53]

I think technical analysis is good because structures and patterns send news to people. In essence, you do fundamental analysis, which can also be understood from technical analysis

[Whited35 15285]

10 hours ago, Anarchy09 said:

@Whited35 Hi! In most cases, I think these experts know less than I do:D and there is this thought: if you want to do well, do it yourself. I believe that if you want to learn something, you need to do it yourself. Other people's opinions should be taken into account and this is very useful, but they should not become your opinion. You must analyze the tips and recommendations and adapt them to your experience.

@Anarchy09 Perfect. At the very first stage in the crypto tradings, I followed the advised from the so-called crypto experts but did not worked at the end.After that, I learnt everything from test and trial(based-on the experiences). 

[Anarchy09 138]

1 minute ago, Whited35 said:

@Anarchy09 Perfect. At the very first stage in the crypto tradings, I followed the advised from the so-called crypto experts but did not worked at the end.After that, I learnt everything from test and trial(based-on the experiences). 

@Whited35 The method of trial and error, in fact, the best teacher. With this method, you get a huge amount of information in the shortest possible time. However, you should not learn this method on a large Bank. It is best to use a small Bank to avoid significant financial losses. I would also add that the trial and error method will show itself more confident with the study of useful literature. Then there will be more trials and fewer errors. I think so😁

[adidas21rus 37]

I often hear that it is impossible to predict the future price movement in the Forex market.

I declare that it is possible. I'm not saying that I'm always right, but I earn my bread and butter with technical analysis.

I know that many economists believe that only economic theory can explain the current state of the market and predict future possible developments, and that they ridicule technical analysis.

I have never been a maximalist, and I will not say that there is only one correct way to trade in the Forex market. Everything depends on the personal preferences of the trader. The most important factor is personal skills. Everyone has their own mental abilities and skills to analyze the market.

But there is a big difference between analysts and traders. Traders are active, they trade and make decisions. Analysts are reflexive, they reflect on decisions and want to take into account all the factors that affect the market.

Most financial market traders are a hybrid of traders and analysts. We want to trade and act, but on the other hand we want to be sure that the deal is correct, so we carefully plan the entry and exit. So how do you decide how to analyze the market? How do I make the right decisions?

I'm a trader, I don't include fundamental analysis in my trading. I'm a 100% technical trader and I'm not going to do it any other way, as it all works great for me. I can predict about 3 to 6 movements per month if there are suitable conditions. This is how technical analysis can work. A trader who trades on technical analysis has an advantage over analysts, he knows the entry point to the market, the goal and the exit point. The analyst can predict that the price will go up, but when it will happen, he does not know.

Of course, I'm not saying that you need to trade only on technical analysis, and everything else is wrong or does not work. In fact, the ability to predict future price movements based on technical analysis is very difficult to master. You need to understand the dynamics of price movement, why it is moving or standing, and what will happen next. Personally, I build my analysis on the principles and signals of price action. I believe that this is the best technical method in the Forex market, because it shows in real time what is happening in the market, and does not lag like indicators. It is easy for me to apply it and it is very harmonious with the concept of support and resistance levels. But if you approach the price action method superficially, you can do a lot of bad things. This is not a panacea, but no method will give you a 100% guarantee.

I have seen traders who only trade on fundamental analysis. I have to admit that some have been very successful at this. They understand what economic factors affect the price and can also use this to predict the entry and exit of a trade. So do not neglect this method of trading.

As I said, I am a purely technical trader and do not look at fundamental economic factors. But it seems to me that novice traders should combine both technical analysis and fundamental analysis in their trading. This will help them determine what they personally prefer, as well as allow them to look at the market and price from different angles. Some believe that fundamental analysis is easier than technical analysis, while others hold the opposite opinion. For many, economic data and its impact on the market are more logical and reliable than technical data. They say that technical analysis has no basis, that it simply follows the price and cannot predict the future. I have generally noticed that it is easier for novice traders to apply fundamental analysis than technical analysis.

But, as I have repeatedly noted, the biggest problem is entering a trade, as well as the question of setting a stop loss and take profit, and here, I think, the best solution is technical analysis. The road to profitable trading is through hard work. This is not a fun time. But, if you want, you can learn everything yourself without paying a penny for training.

[Whited35 15285]

2 hours ago, Anarchy09 said:

@Whited35 The method of trial and error, in fact, the best teacher. With this method, you get a huge amount of information in the shortest possible time. However, you should not learn this method on a large Bank. It is best to use a small Bank to avoid significant financial losses. I would also add that the trial and error method will show itself more confident with the study of useful literature. Then there will be more trials and fewer errors. I think so😁

@Anarchy09This method only works if you learn something from your mistakes otherwise it will be extremely costly to expose yourself in the risk of test and trial by using funds no matter you started up with large sum of money or small, loss is loss 😝😜!

[Anarchy09 138]

45 minutes ago, Whited35 said:

@Anarchy09This method only works if you learn something from your mistakes otherwise it will be extremely costly to expose yourself in the risk of test and trial by using funds no matter you started up with large sum of money or small, loss is loss 😝😜!

@Whited35 Yes, it's not a shame to make mistakes, it's a shame to make repeated mistakes. If a person does not have the ability to learn from their own mistakes, then a career as a trader is unlikely to suit them, I think so😯

[Whited35 15285]

15 hours ago, Anarchy09 said:

@Whited35 Yes, it's not a shame to make mistakes, it's a shame to make repeated mistakes. If a person does not have the ability to learn from their own mistakes, then a career as a trader is unlikely to suit them, I think so😯

@Anarchy09You are perfectly right on it my brother. Sometime even a single wrong click can cause a huge damage at the cryptocurrency tradings. I had the similar experience on HitBTC. After that terrible incident, I always check twice before placing orders. 

[wiliamblacke 157]

I think that technical analysis is very useful, because it gives us a lot of information about the decision we will make in a trade, be it long or short, we always rely on all the tools we can for the best decision.
 

[Anarchy09 138]

4 hours ago, Whited35 said:

@Anarchy09You are perfectly right on it my brother. Sometime even a single wrong click can cause a huge damage at the cryptocurrency tradings. I had the similar experience on HitBTC. After that terrible incident, I always check twice before placing orders. 

@Whited35 It's no big deal that you're facing such a problem. The main thing in this case is that you have learned a valuable lesson and will now make sure that this mistake does not happen again. Don't worry, everything will be fine!

[Whited35 15285]

1 hour ago, Anarchy09 said:

@Whited35 It's no big deal that you're facing such a problem. The main thing in this case is that you have learned a valuable lesson and will now make sure that this mistake does not happen again. Don't worry, everything will be fine!

@Anarchy09 100% it was the turning point to shape my trading skills. By the way, I am also interested to hear your experiences if you have lost a huge amounts due to a wrong analysis or due to a wrong click on the trading platforms.  

[Anarchy09 138]

1 hour ago, Whited35 said:

@Anarchy09 100% it was the turning point to shape my trading skills. By the way, I am also interested to hear your experiences if you have lost a huge amounts due to a wrong analysis or due to a wrong click on the trading platforms.  

@Whited35 Yes, thank you for asking) I have such experience. A couple of years ago, I was trading on the steam trading platform and had a good income. Later, my scheme died and I had to withdraw the remaining money. At the time when I was withdrawing money, every corner was talking about bitcoin, that it is digital gold and it is waiting for a big future. And then I thought: "why not invest some of the remaining money in bitcoin?" at that time, I opened the chart and was stunned: the graph of bitcoin is flying up on jet engines! Without thinking twice, I decided to buy bitcoin. At the time of purchase, it cost$19,000. What do you think happened next?😂😂😂 I lost money on the fall of the exchange rate. At that time, I decided that it would be better to sell bitcoin and buy an altcoin. I accidentally heard about the TRX token, they said the same thing about it, that it will fly up and reach$ 1 per token! I, who did not understand anything at all at the time and was disappointed in bitcon, ran to buy TRX in the hope of getting my money back. But even here it will be easy to guess what happened next)what a valuable lesson I learned!!!

[mahdi935 42]

Crypto is special, because it's not needed to do technical analysis. Sometimes it can be helpful, but these whalemoves can not be predicted. So I would say, yes technicals can be helpful, but if a whale comes by, they are worthless, haha

[Abas 21]

Personally i don't believe that you can predict the market even if you are a coin dev because everything can change in seconds. 

[Hiroyuki476 54]

Hi, 

That's a splendid question! Well, given its relative nascency compared to other financial markets, I've noticed that cryptocurrency investors tend to use technical analysis indicators to gauge their market positions. I personally employ a vast array of indicators, such as Bollinger bands, MACDs, and Fibonacci retracement to help make more informed trading and investing decisions. However, as the old adage goes, to each his own.

Best, 
@hiroyuki476

[drmustafaunal 10]

it is actually beneficial. if you want to do coin tarde, you sould know technical analysis. 

[Alexiscaceres 110]

No, technical analysis cannot predict sudden movements in cryptocurrencies, I think that is what fundamental analysis is for, for example if a cryptocurrency is going to be listed on a major exchange this can cause its price to rise for a while and then fall very quick, if you know this you can take advantage of it

[mahdi935 42]

No, technical analysis cannot predict sudden movements in cryptocurrencies, I think that is what fundamental analysis

[maryoar 148]

I consider that it is the best analysis to be able to be profitable in the market! Technical analysis, within stock market analysis, is the treatment of price action, mainly through the use of graphs, with the purpose of predicting future trends in price. The term "price action" contains the three main sources of information available to the technical analyst. Technical analysis encompasses knowing a trend, drawing support and resistance levels, moving averages, etc.

[jonasma 68]

I think that the technical analysis is very fundamental when it comes to operating but you also have to take into account speculation and not get carried away by emotions, and also have a strategy to know how to apply excellent risk management, the ideal is to respect your strategy because many times we leave our position for fear of fear

[wiliamblacke 157]

Technical analysis is an essential tool for a good optimization of results when trading since it allows us a broader vision of the direction of the market towards the trend that best favors us, whether it is long or short.
 

[Whited35 15285]

16 hours ago, Anarchy09 said:

I lost money on the fall of the exchange rate. At that time, I decided that it would be better to sell bitcoin and buy an altcoin. I accidentally heard about the TRX token, they said the same thing about it

@Anarchy09 Oh impressive ! Clearly the fault in analysis as newbie which happens to the most of the newcomers in the crypto world. You again reverted to TRON 😂 ! I hope after that incident, you have never chosen any products based on TRON blockchain network? 

Thanks for sharing your experience and I hope newbies may have something to learn from your experience how analysis mistakes or investment mistakes lead to the loss in the cryptocurrency sphere. I am really loving to have conversations with you in the different threads and while dealing with you, I am missing my brother @BTC Future , he used to share me such a great experience but despite my last effort, he left this forum. Now I am just missing him because he was the most important pal to have mainstream and depth cryptocurrency related discussions. You can still visit his profile to see his great ideas. 

[Anarchy09 138]

2 hours ago, Whited35 said:

@Anarchy09 Oh impressive ! Clearly the fault in analysis as newbie which happens to the most of the newcomers in the crypto world. You again reverted to TRON 😂 ! I hope after that incident, you have never chosen any products based on TRON blockchain network? 

Thanks for sharing your experience and I hope newbies may have something to learn from your experience how analysis mistakes or investment mistakes lead to the loss in the cryptocurrency sphere. I am really loving to have conversations with you in the different threads and while dealing with you, I am missing my brother @BTC Future , he used to share me such a great experience but despite my last effort, he left this forum. Now I am just missing him because he was the most important pal to have mainstream and depth cryptocurrency related discussions. You can still visit his profile to see his great ideas. 

@Whited35 I also think that people with a lot of experience behind them should share it with others, whether for a fee or for free. If a person has a good experience behind their back and presents it correctly 😀😀, I am even ready to pay money for their presentations and lessons, but there are people who meet one in a million who are willing to share their stories and useful lessons on forums for free. And apparently your friend @BTC Future is one of them😁😁.and as for my experience, I am ready to reconsider my views on the throne if I am engaged in cryptocurrency arbitrage. This network has a low Commission and fast transactions, plus it has a relatively sideways schedule.

Now I looked at his profile - he is banned, it's a shame😒

Edited October 11, 2020 by Anarchy09

[Katynguyen 31]

I think that technical analysis does not guarantee everything, movement prediction, technical analysis is only a very small part, while the basic analysis, market analysis

[Whited35 15285]

14 minutes ago, Anarchy09 said:

If a person has a good experience behind their back and presents it correctly 😀😀, I am even ready to pay money for their presentations and lessons,

@Anarchy09 This forum can be the best place for that purpose. Here are really talented some guys who occasionally create the posts at least one in a week. I love to read their analysis and participate in their discussions. 

17 minutes ago, Anarchy09 said:

Now I looked at his profile - he is banned, it's a shame😒

Indeed it is the reality that's why it hurts me the most. 

[Sykkuno 2887]

This is why we do technical analysis we do this to predict the market, so you ask a question and given an answer too. Technical analysis is performed to predict where the prices are going next, but since we can't accurately predict the future this is only the best estimate we can get.