I will buy when the BTC price is above the Kumo cloud and MA9 is above MA26.Fibonacci can also give you an idea of a good area to join the market. With Fibonacci you can identify the Premium and discount zones to join the market from.
In investing, I prefer to use a combination of Ichimoku + MA-cross methods to identify BTC reversal zones on the weekly timeframe and place buy and sell orders.
Fibonacci can also give you an idea of a good area to join the market. With Fibonacci you can identify the Premium and discount zones to join the market from.
Fibonacci is important to me.
A combination of indicators for technical analysis, can provide a more accurate result for trading when you really understand it. It can be confusing if you do not have a good understanding of the indicators.
I have used moving averages and bollinger band in the past. Works quite well as long as the timeframe isn't too short. I also used RSI or fibonacci once in a while, although my knowledge of how to use them isn't that deep. I believe any indicator works in a market with a clear trend, but my experience tells me that I need to practice more if I'm trying to use them in a volatile market/bear market. The swing from FUD is unexpected most of the time, fortunately, stop-loss has become my habit whenever I make an order.moving average and Bollinger bands are the indicators that I think are most widely used by people and I think almost everyone who carries out trading activities will use them.
moving average and Bollinger bands are the indicators that I think are most widely used by people and I think almost everyone who carries out trading activities will use them.Honestly, after learning about Bollinger Bands, I haven't used it for a long time because I realized its drawbacks related to lag and reliability. But from BB, I had more ideas to improve some of my technical indicators with the adjustments and theoretical updates that Bollinger proposed.
Apart from that, RSI or Relative Strength Index is also one that is widely used. But again, we can use all of them or use several of the available indicators, because some people, including me, also prefer to use not too many indicators.
That's right, because I also see that when we use lots of indicators but we understand them only half-half, it won't be optimal either. It's better if we use several indicators but we really understand them, because that will make the performance better.moving average and Bollinger bands are the indicators that I think are most widely used by people and I think almost everyone who carries out trading activities will use them.Honestly, after learning about Bollinger Bands, I haven't used it for a long time because I realized its drawbacks related to lag and reliability. But from BB, I had more ideas to improve some of my technical indicators with the adjustments and theoretical updates that Bollinger proposed.
Apart from that, RSI or Relative Strength Index is also one that is widely used. But again, we can use all of them or use several of the available indicators, because some people, including me, also prefer to use not too many indicators.
I think traders only need to use a few indicators that they understand well and have successfully tested. This can help them easily monitor and evaluate the market from a certain perspective, without being distracted by other methods and indicators.
Using EMA, MACD, rRSI in my opinion is enough and is a suitable combination.I also often use EMA + MACD + RSI because they provide a fairly complete picture of the market: EMA = average price, MACD = price change rate, RSI = main trend. Proficient use of them and effective capital management can also help traders make the right decisions and make profits in the market.
I don't know how other people's judgments, but this depends on someone's habit of using indicators and of course it has been mastered.
There are many indicators that can be used and all of them certainly have advantages and disadvantages.
Don't overuse too many indicators if they are indeed inefficient.
I use a bot and a script to trade for me so I could monitor the market continuously and be in the market continuously. The algorithm decides the best possible entry in a specific timeframe. If you would like to have more trades, it's better to lower the timeframe, but if it's okay for you to have the best entry and fewer trades, a longer timeframe would be best.Do you create and manage this trading bot yourself or do you use a trading bot service from a market provider? I'm quite curious about how this trading bot can optimize trading strategies to automatically generate profits. It may use MAs or RSI and continuously analyze trading strategies 24/7 to find the most suitable parameters. Do you get a stable profit from this trading bot?
Botting is one choice, a lot of people made a lot of money with it (I used to sell gunbot as well back like 5-6 years ago) and of course there were a lot of people who never understood how to use them properly so either not get it working or just lost money too. I feel like the best thing about the current situation is that you could do these manually, because things are not moving that fast, sure bitcoin is volatile but not right now, so you could have a long term holding, wit ha slow trading process to learn about indicators and that could make you some money when the time comes. Well this is of course hopefully, we have no idea how that would work or not in the end.After all, our goal in participating in the market is to make a profit, trading-bots can also be an option, as long as the trader can use them effectively. I think a trader who can manage and optimize a trading-bot is also a talented trader because he understands the trading method and the bot's working mechanism.
1. BBYeah, no one dictates what a trader needs to do. A trader can do anything to create profit from their trading decisions. I have never used S/R lines, but I will try to learn to understand the principle and its ability to analyze the market.
2. RSI
3. S & R lines
4. Fibo
5. MA
But sometimes i do make use of BB's on which it is really that sufficient for me.
I do prefer on naked trading or almost clutter free kind of chart because when you are someone whose that experienced
you could really be able to draw those lines imaginarily. :)
When trying short-term trading, I actually used several indicators such as RSI, MA and Fibo... but because I didn't really like short-term trading, it really tortured me until I decided to stop trading with such high risks. ... now I focus more on medium and long-term trading, which only pays attention to the price support and resistance points of a cryptocurrency to go long or short. And the only coin I monitor is bitcoin for this purpose.I use most technical indicators for long-term trading, which means I use the Weekly timeframe. I even believe that these indicators are designed for long-term investing and are only truly effective when used on large timeframes such as Weekly and Monthly.
I used EMA in the past as part of my strategy. I always wait for the alignment of EMA 20, 50, 100 before looking of an entry. Every time the price touches the EMA then that is my entry. It works because I have more confluences but still encounter loses until I can't manage my emotion that will result losing of funds. And now I decided to use PA in trading and I feel like it really works for me, other than that, I can trade a little bit early than those who rely on indicators.What's PA? I also use 4EMA indicators to know my entry and exit points but I am just too lazy that whenever I take Enty (BTW I take small entries) I don't set SL or TP (Take Profit) and end up losing the funds as in loss. But no regret as in the long term coin is good and I am doing spot so I wait until it makes me profit. This way I make lesser money but I am not a technical or day traders I don't trade daily that's why I preferred this way a good one for me.
What's PA? I also use 4EMA indicators to know my entry and exit points but I am just too lazy that whenever I take Enty (BTW I take small entries) I don't set SL or TP (Take Profit) and end up losing the funds as in loss. But no regret as in the long term coin is good and I am doing spot so I wait until it makes me profit. This way I make lesser money but I am not a technical or day traders I don't trade daily that's why I preferred this way a good one for me.PA = Price Action, a trading method based on price behavior such as resistance, support, trends, candlestick patterns, and often uses few technical indicators. This is just my understanding, a clear definition is available on Investopia.
Although I am still learning more indicators, but as in terms of FA, whenever I see a good coin with good fundamentals, I took long terms entries. But I also fell to emotions and that's why I exit market early end up with lesser profit if I would not have exited We should really control our emotions, it would be nice if your will shed some light on PA if it could help me.
PA = Price Action, a trading method based on price behavior such as resistance, support, trends, candlestick patterns, and often uses few technical indicators. This is just my understanding, a clear definition is available on Investopia.Okay okay, It was not coming to my mind, and I did not checked its meaning on Google as well, so I thought I should ask. I know about Price Action, its just the short form was confusing, actually I also don't use PA terms more often I use TA, or FA but yeah considering the definition I think PA is better in place of using both (TA and FA).
For some long-term investments, for example DCA BTC in the crypto winter and hold to bullrun, I also usually do not place Take Profit or Stop Loss. However, with shorter-term investments, I think SL is a very important part of the trading strategy. It can protect traders from the risk of losing a large part of their capital and no longer having the opportunity to correct mistakes in the future.Yeah, SL is really very important, like many people have red zones or supports which they have tagged as if touched market will go way below that point. So they put a SL there. I don't trade (Short- Term), maybe sometimes but mostly I am into long term trades. I am really bad at judging the potential of coin, but whenever I judged right, made good profit. SL is really important as you don't have to regret later.
Yeah, SL is really very important, like many people have red zones or supports which they have tagged as if touched market will go way below that point. So they put a SL there. I don't trade (Short- Term), maybe sometimes but mostly I am into long term trades. I am really bad at judging the potential of coin, but whenever I judged right, made good profit. SL is really important as you don't have to regret later.It's easy to say than to do. I've always identified myself as a long-term investor, but there have been times when I've regretted not setting TP and SL to optimize profits better. Since the end of 2022, I've experienced 2 instances of losing 90% of my profits. It would have been great if I could have sold at TP or SL to have the opportunity to buy more tokens to achieve 3-5 times more profit during the upcoming bullrun.
The crypto market has become increasingly attractive to investors, and each investor has own way to generate profits for themselves from the large fluctuations of assets traded 24/7 on CEXs and DEXs. Besides fundamental analysis and on-chain analysis, technical analysis always has the largest number of users thanks to its simplicity and intuitiveness.When it comes to TA i tend to keep it simple. Support and resistance, EMA then institutional reference points like OB, FVG & LIQUIDITY GRAB is my go to.
Technical analysis offers traders a variety of methods to check, learn, test, and select for themselves. We have Elliott wave theory, Dow theory, Fibonacci, Wyckoff, RSI, MAs, MACD, Ichimoku, Sonic-R, Momentum, Volume profile, Price action, Japanese candlesticks... Over the years in the market, I have learned many methods and am using combo-method at the same time to reinforce my own assessment of the state of the crypto market.
In particular, I like to use the indicators available on TradingView because they are intuitive and easy to access for everyone. I think technical analysis is science, which means that transparency and integrity are required. Other methods such as Elliott or Wyckoff require more detailed presentation and explanation, and they are also difficult to access for other investors.
I typically use Ichimoku's Kumo cloud + Sonic-R's Weekly EMA34 to identify trend formation or breakouts on the price chart. Occasionally, Fibo 0.618/1.618, RSI, and MACD are also quite helpful in making my analysis more convincing ^^
In investing, I prefer to use a combination of Ichimoku + MA-cross methods to identify BTC reversal zones on the weekly timeframe and place buy and sell orders. I will buy when the BTC price is above the Kumo cloud and MA9 is above MA26. The lag is completely acceptable, it gives me a fairly profit in each cycle.(https://www.tradingview.com/x/GEHu3WJ2/)
What technical analysis methods are you using? Why did you choose them and what were the investment results?
- Technical Analysis: What It Is and How to Use It in Investing (https://www.investopedia.com/terms/t/technicalanalysis.asp)
When it comes to TA i tend to keep it simple. Support and resistance, EMA then institutional reference points like OB, FVG & LIQUIDITY GRAB is my go to.The methods you use are very popular in this market, and as long as they bring you stable profits, they are good and effective tools.
When it comes to TA i tend to keep it simple. Support and resistance, EMA then institutional reference points like OB, FVG & LIQUIDITY GRAB is my go to.The methods you use are very popular in this market, and as long as they bring you stable profits, they are good and effective tools.
I also often use EMA but rarely touch OBV or FVG as you mentioned. Trading volume is not my favorite data, I even believe that trading volume can be completely faked to deceive small investors.
Using EMA, MACD, rRSI in my opinion is enough and is a suitable combination.I myself use these strategies because they are very effective in trading. I think EMA in particular is much more effective. However, there will be risk in trading and you have to accept this risk and continue trading. Besides earning income, trading is also a lot of fun. I always use EMA to maximize my risk.
I don't know how other people's judgments, but this depends on someone's habit of using indicators and of course it has been mastered.
There are many indicators that can be used and all of them certainly have advantages and disadvantages.
Don't overuse too many indicators if they are indeed inefficient.
I myself use these strategies because they are very effective in trading. I think EMA in particular is much more effective. However, there will be risk in trading and you have to accept this risk and continue trading. Besides earning income, trading is also a lot of fun. I always use EMA to maximize my risk.EMA is indeed a popular and effective indicator for many traders. The legendary Bob Volman also uses EMA20 to trade and generate huge profits, which confirms the value of EMA.
- Most of the time, when I do technical analysis, I use Trendline, SMA, and Keltner channels, sometimes RSI, depending on the situation. And the timeframe that I looked at is 1 hour, 4 hours, and 1 day, so I can determine if that is really the direction of the price of the coin that I am trading.Trendlines, SMA and RSI are very popular, but this is the first time I have heard of Keltner channels. I just read a little bit about it, it is a combination of EMA and ATR to create an important zone for asset prices, I think its methodology is quite similar to Bollinger Bands.
But there are times when I only use trendline and SMA; even if they are just two, it becomes enough for me to make a profit in cryptocurrency, especially in futures trading.
It's easy to say than to do. I've always identified myself as a long-term investor, but there have been times when I've regretted not setting TP and SL to optimize profits better. Since the end of 2022, I've experienced 2 instances of losing 90% of my profits. It would have been great if I could have sold at TP or SL to have the opportunity to buy more tokens to achieve 3-5 times more profit during the upcoming bullrun.I also did the same, but I did it with the tokens I earned in airdrops, so from one angle its all profit, but from another angle its a lose as well. For example, I made 125$ from one airdrop, one token was $10 and it went there from $1 or $2 maybe. I did not booked, and now one token rate is $1.8. I am a little bad at judging the price of airdrop tokens, but I somehow able to judge the movements of old tokens because its a little easy to judge from the historical point of view.
Perhaps this mindset is what prevents many investors from holding to profit. I also need to learn to respect my own trading method in order to have peace of mind, manage my emotions better, and avoid negative emotions such as being too greedy or too afraid.I always hoped that this token will give me thousands (I was too damn greedy) but whoever I able to control my emotions I always made profit. Even if I knew the answers to my problems, I still don't respect the rules. We should really do something about it hehe.
I also did the same, but I did it with the tokens I earned in airdrops, so from one angle its all profit, but from another angle its a lose as well. For example, I made 125$ from one airdrop, one token was $10 and it went there from $1 or $2 maybe. I did not booked, and now one token rate is $1.8. I am a little bad at judging the price of airdrop tokens, but I somehow able to judge the movements of old tokens because its a little easy to judge from the historical point of view.This passage highlights the importance of managing our psychology and emotions in this "dangerous" market. The significant daily volatility presents both substantial profits and losses, which trigger extreme emotions of greed and fear. A trader needs not only to understand market analysis but also to detach their personal emotions from the subjective judgments and expectations that result from market analysis!
I always hoped that this token will give me thousands (I was too damn greedy) but whoever I able to control my emotions I always made profit. Even if I knew the answers to my problems, I still don't respect the rules. We should really do something about it hehe.
I also did the same, but I did it with the tokens I earned in airdrops, so from one angle its all profit, but from another angle its a lose as well. For example, I made 125$ from one airdrop, one token was $10 and it went there from $1 or $2 maybe. I did not booked, and now one token rate is $1.8. I am a little bad at judging the price of airdrop tokens, but I somehow able to judge the movements of old tokens because its a little easy to judge from the historical point of view.This passage highlights the importance of managing our psychology and emotions in this "dangerous" market. The significant daily volatility presents both substantial profits and losses, which trigger extreme emotions of greed and fear. A trader needs not only to understand market analysis but also to detach their personal emotions from the subjective judgments and expectations that result from market analysis!
I always hoped that this token will give me thousands (I was too damn greedy) but whoever I able to control my emotions I always made profit. Even if I knew the answers to my problems, I still don't respect the rules. We should really do something about it hehe.
I suggest discussing with a close friend or family member to help you manage your capital effectively. They don't need to understand the market, they just need to ensure you don't allocate too much capital to a single trade and can even impose penalties when you break the rules. This can help you avoid significant mistakes and learn to manage your capital and personal emotions when participating in the market.
somehow a lot of us have been doing these things before. i think a person sometimes just fall in love to a token and then found out its not worth it when bear market arrived. but then its also too late to dump the token worth almost nothing compare to what it was. emotions are hard to control especially when you think you have it all under control and then all of a sudden its really not.Yeah, PA traders are typically only interested in key price zones, meaning resistance and support, and they start trading according to the market trend. The involvement of emotions and personal opinions, especially the love or hate of certain token groups, can affect the investment strategy and lead traders to make wrong decisions blindly.
its why my strategy is always just for swing traders, RSI for a long term TF. most of the time i will just observe how price reacts and draw all the support and resistance. and most resistance eventually becomes a support as well and so is the support turns resistance.
somehow a lot of us have been doing these things before. i think a person sometimes just fall in love to a token and then found out its not worth it when bear market arrived. but then its also too late to dump the token worth almost nothing compare to what it was. emotions are hard to control especially when you think you have it all under control and then all of a sudden its really not.RSI is a good indicator, it really gives us the idea about over-valued and under-valued token, and help us to map resistances and support. I also use RSI but sadly I did not performed TA on any of the reward I made from airdrops. Because there was no historical data for me to judge them and I end up with big lose that I know regrets on. I agree with you that we can't really control our emotions while trading no matter how experts we are because we are not robots we have feelings and we react accordingly.
its why my strategy is always just for swing traders, RSI for a long term TF. most of the time i will just observe how price reacts and draw all the support and resistance. and most resistance eventually becomes a support as well and so is the support turns resistance.
There's always a cons when you do try to hold a token/coin on which there's no assurance that it would really be that making up some pumps in the future.I also did the same, but I did it with the tokens I earned in airdrops, so from one angle its all profit, but from another angle its a lose as well. For example, I made 125$ from one airdrop, one token was $10 and it went there from $1 or $2 maybe. I did not booked, and now one token rate is $1.8. I am a little bad at judging the price of airdrop tokens, but I somehow able to judge the movements of old tokens because its a little easy to judge from the historical point of view.This passage highlights the importance of managing our psychology and emotions in this "dangerous" market. The significant daily volatility presents both substantial profits and losses, which trigger extreme emotions of greed and fear. A trader needs not only to understand market analysis but also to detach their personal emotions from the subjective judgments and expectations that result from market analysis!
I always hoped that this token will give me thousands (I was too damn greedy) but whoever I able to control my emotions I always made profit. Even if I knew the answers to my problems, I still don't respect the rules. We should really do something about it hehe.
I suggest discussing with a close friend or family member to help you manage your capital effectively. They don't need to understand the market, they just need to ensure you don't allocate too much capital to a single trade and can even impose penalties when you break the rules. This can help you avoid significant mistakes and learn to manage your capital and personal emotions when participating in the market.
somehow a lot of us have been doing these things before. i think a person sometimes just fall in love to a token and then found out its not worth it when bear market arrived. but then its also too late to dump the token worth almost nothing compare to what it was. emotions are hard to control especially when you think you have it all under control and then all of a sudden its really not.
its why my strategy is always just for swing traders, RSI for a long term TF. most of the time i will just observe how price reacts and draw all the support and resistance. and most resistance eventually becomes a support as well and so is the support turns resistance.
RSI is a good indicator, it really gives us the idea about over-valued and under-valued token, and help us to map resistances and support. I also use RSI but sadly I did not performed TA on any of the reward I made from airdrops. Because there was no historical data for me to judge them and I end up with big lose that I know regrets on. I agree with you that we can't really control our emotions while trading no matter how experts we are because we are not robots we have feelings and we react accordingly.I believe many traders also face similar problems when using technical indicators: the indicator has given a signal but the trader cannot take appropriate action because the trader is influenced by extreme trading psychology: greed or fear. They often continue to hold orders and suffer huge losses, eventually losing their capital and having little chance to rectify their mistakes.
I always make my mind that I will follow my plan to minimize the risk, that I will exit with half profit and if token continues to grow I will book more until I book my capital and now only trading with profit. This qill surely minimize the stress
I believe many traders also face similar problems when using technical indicators: the indicator has given a signal but the trader cannot take appropriate action because the trader is influenced by extreme trading psychology: greed or fear. They often continue to hold orders and suffer huge losses, eventually losing their capital and having little chance to rectify their mistakes.And to isolate emotions from the highly volatile market, the involvement of bots is a good plan. I have seen many ai bots and I just came to know about 5 more yesterday. I never tested them but I am looking for people who have tested them and shared some tutorials on YT. We can't ignore the fact that AI bots play a vital role in making more profit.
I don't like trading-bots, but sometimes they can help traders make more effective decisions, especially when the market is at its peak or bottom, when investors are too greedy or too afraid. Traders should not try to turn themselves into a trading-bot because they cannot trade at a high frequency, but they need to isolate themselves from negative emotions in this highly volatile market.
And to isolate emotions from the highly volatile market, the involvement of bots is a good plan. I have seen many ai bots and I just came to know about 5 more yesterday. I never tested them but I am looking for people who have tested them and shared some tutorials on YT. We can't ignore the fact that AI bots play a vital role in making more profit.The choice between personal ability and trading-bot is always difficult, as traders themselves also have difficulty in managing their own trading psychology. I usually don't like trading-bot, but if it's useful for someone then I don't object, even when a trader clearly identifies a trading method that generates stable profits, he can create a trading bot to help him trade 24/7 and he will get rid of psychological pressures and wrong decisions.
Because they can process the data from the inception to the current point in no time and can provide you data on your prompt or on the basis of your chart. They can even make trades for you, find the best tokens (which are at a good entry point) for us, and other investment opportunities as well. Controlling our physiology is the main difficult part. I am just to regretting my recent acts that made me some lose although I knew it was coming but was so lazy. I think I deserve it hahaha.