Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Thyplaymaker on January 16, 2024, 07:49:02 PM
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Okay have been trading for sometimes now, due to experiencing alot of chart patterns have been able to read some chart patterns. But I've been finding it difficult when it's comes to analytical drawings in trading I try watching some videos that might help me but still finding it unclear. I don't if you guys can recommend any resources that can help me learn more about analytical drawings. I bring it up because I know we have alot of skills and experience traders here.
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If you want to know about trading then you must have knowledge about different exchanges. You can trade Bitcoin or trusted AltCoin by creating an account on the exchange and depositing dollars there. Trade basically you look at the previous market and the current market if the market is low then you buy coins. And be patient, if after some time the coin price starts to increase and your dollar amount increases then you sell your coin at higher price. But never take shelter of greed then chances of loss will be high. Basically, buying at a low price and selling at a high price is the main purpose of trading.
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If you want to know about trading then you must have knowledge about different exchanges. You can trade Bitcoin or trusted AltCoin by creating an account on the exchange and depositing dollars there. Trade basically you look at the previous market and the current market if the market is low then you buy coins. And be patient, if after some time the coin price starts to increase and your dollar amount increases then you sell your coin at higher price. But never take shelter of greed then chances of loss will be high. Basically, buying at a low price and selling at a high price is the main purpose of trading.
Actually most of my losses have made in crypto trading are mainly from greed and fear. I've let that two emotions get the best of me alot. That why I decided to suspend my trading for now and focus more on gathering knowledge and how to manage my emotions whenever it's comes to trading and investing also. Due to fear I've close alot of my trades in losses. Because thinking that I'm actually reducing my losses doesn't know was also increasing it unknowingly. Same goes for greed also. So I wanna focus on improving my skills first in trading by getting information from different sources.
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Actually most of my losses have made in crypto trading are mainly from greed and fear. I've let that two emotions get the best of me alot. That why I decided to suspend my trading for now and focus more on gathering knowledge and how to manage my emotions whenever it's comes to trading and investing also. Due to fear I've close alot of my trades in losses. Because thinking that I'm actually reducing my losses doesn't know was also increasing it unknowingly. Same goes for greed also. So I wanna focus on improving my skills first in trading by getting information from different sources.
You have made the right choice, as I also learnt this but the hard way as you have learnt. I also made huge loses and the funny thing is as a newbie I started my career in future trading, which is the dumbest mistake I made, because in future there is a risk of losing the funds for ones and all and there is not coming back from them. But when we are doing spot trading, there is sill a chance that the coin we have invested in, will go up and make us some profit.
I recommend you to watch videos, take courses from udemy, to learn about technical analysis, because TA is the main term that will help us read charts and candles. You can get many free courses, playlists on YouTube only, I am watching some in my local language but I doubt if they would be of any help to you.
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Actually most of my losses have made in crypto trading are mainly from greed and fear. I've let that two emotions get the best of me alot. That why I decided to suspend my trading for now and focus more on gathering knowledge and how to manage my emotions whenever it's comes to trading and investing also. Due to fear I've close alot of my trades in losses. Because thinking that I'm actually reducing my losses doesn't know was also increasing it unknowingly. Same goes for greed also. So I wanna focus on improving my skills first in trading by getting information from different sources.
You have made the right choice, as I also learnt this but the hard way as you have learnt. I also made huge loses and the funny thing is as a newbie I started my career in future trading, which is the dumbest mistake I made, because in future there is a risk of losing the funds for ones and all and there is not coming back from them. But when we are doing spot trading, there is sill a chance that the coin we have invested in, will go up and make us some profit.
I recommend you to watch videos, take courses from udemy, to learn about technical analysis, because TA is the main term that will help us read charts and candles. You can get many free courses, playlists on YouTube only, I am watching some in my local language but I doubt if they would be of any help to you.
that why we always tell newbie to always focus on spot trading, because is better to learn from others mistake than experience to teach in the hard way..
Even though yah hold trader and you started future trading with an premature knowledge about it you end up accumulating alot of losses.
@Faulsal2202 thanks alot for the support I will do as you told. Concerning the analytical drawings.
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Okay have been trading for sometimes now, due to experiencing alot of chart patterns have been able to read some chart patterns. But I've been finding it difficult when it's comes to analytical drawings in trading I try watching some videos that might help me but still finding it unclear. I don't if you guys can recommend any resources that can help me learn more about analytical drawings. I bring it up because I know we have alot of skills and experience traders here.
I think what you mean is pattern trading. It is the most commonly use by most traders but still profitable up to this days if you add more confluence for more confirmation before you enter a trade. Some people who rely solely in the pattern trading probably lose more because of manipulations, they are here to take out your stop loss to make your money as a liquidity. It's difficult to have this by only watching yt videos because you will only learn half information.
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Okay have been trading for sometimes now, due to experiencing alot of chart patterns have been able to read some chart patterns. But I've been finding it difficult when it's comes to analytical drawings in trading I try watching some videos that might help me but still finding it unclear. I don't if you guys can recommend any resources that can help me learn more about analytical drawings. I bring it up because I know we have alot of skills and experience traders here.
I think what you mean is pattern trading. It is the most commonly use by most traders but still profitable up to this days if you add more confluence for more confirmation before you enter a trade. Some people who rely solely in the pattern trading probably lose more because of manipulations, they are here to take out your stop loss to make your money as a liquidity. It's difficult to have this by only watching yt videos because you will only learn half information.
so do have any more ideas to add concerning places I could learn more about it lately have been having a little practice may be am going to drop one of my work sketches (of my pattern drawing) as you just said. So that could know here have made some certain mistakes. Yeah pattern trading is easily manipulated and as coursed alot losses that why I wanna learn analytical drawing to improve my trading skills