What technical analysis method are you using?

[MrSpasybo]

- 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.

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.

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.

The effectiveness of a trading method does not depend on the number of indicators or tools that the trader uses. Trendlines and SMA have a lot of lag, but if used reasonably and intelligently, they can also bring huge profits to traders.

[Faisal2202]

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.

[MrSpasybo]

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.

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.

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 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.

[electronicash]

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.

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.

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 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.

[MrSpasybo]

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.

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.

Perhaps no matter what trading method we use, managing trading psychology and maintaining the independence of market analysis from subjective emotions is still an important thing to implement to ensure profits in this market!

[Faisal2202]

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 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

[milewilda]

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.

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.

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 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.

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.
This is why it would really be always relevant that you should really know on what are the things that you should gonna do and not really just that
making up some careless decisions in speaking about buying or selling. Speaking about tools or indicators used then it would really be that ypically
that TA loves on having that RSI with some BB or MA in combine. You could really be able to spot whether its oversold or overbought with having these things.

[MrSpasybo]

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 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.

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.

[Faisal2202]

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 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.

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.

[MrSpasybo]

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.

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.

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.

Each of us will need to go through many mistakes to mature, including in our trading career. You can think in a more positive way: you have learned the knowledge you need to avoid bigger losses in the future.