Trading goes beyond just technical analysis

This is aimed at newbie traders since seasoned ones probably already get this. You set up your indicators, the market dips to a point where you think it’s a good time to buy, like in an oversold situation. You grab the coin, expecting the price to bounce back up. The market might even look like it’s about to rise, but nope, it just keeps dropping. Before you know it, your funds are gone. You tried the same approach in an overbought market and, surprise, lost your money again. Those of us who have been around know this struggle. That’s why you really need to have some strategies that can minimize your losses and perhaps aid your recovery instead of getting stuck in martingale traps. Trade only with cash you can afford to lose to help manage your emotions. Stay away from use, or use it very cautiously, like at 1.5x. Be careful with altcoins, too. Averaging might be smart, but martingale? That's a no-go. Risk management is crucial. And don’t forget money management is a big deal as well. You don’t want to find yourself glued to the screen in panic mode. Fundamental analysis can sometimes guide you on when to buy, but remember, it isn't foolproof, just like technical analysis. For the veterans among us, what advice do you have to share?

I think it's dumb enough to take up on a trade that you know you get liquidated, is not wise to open up a position that you don't have enough fund's to service in case of market crash, why most derivative traders get liquidated is because of their greed. You believe you know the market so much, and thereby gamble with the market by increasing your risk level on an XX basis. Just know that the higher your leverage, the closer you are to your liquidation price unless you have enough reserves to keep servicing your positions.

As I already said, my advice to you as a beginner in trading is to become more careful with trading when you start winning trades. It may sound strange, but the truth is that at that point where you start winning trades, you may just become too overconfident and decide to start skipping rules that made you successful, and that will be the way to blow your account. When you win a trade, be very careful about your next trade.

Your initial winning trades do not guarantee that the next trades will still be as positive and profitable like the first. The trading market itself has always been unpredictable, so you have to trade cautiously and trade at your own risk and limits. Overconfidence will develop because of too much greed from winning, and if you left it uncontrolled, not only you will lose your trading capital, but you will also lose the drive and efforts you put into your trades. So always chose to trade at your own risk.

I don't really trade, particularly futures or margin, since the risks are high and liquidation can wipe you out quickly. Technical analysis is something i've trie before, but it's still beyond me lol. To me, trading feels similar to sports betting, winning often comes down to probabilities and repeated attempts. That approach just isn't for me, so i mostly avoid trading or gambling, except for the occasional sports bet on teams i'm familiar with that i mostly win.

Right on the money, just because the RSI is at the oversold level doesn't mean it can't go lower. Technical analysis is just an educated guess but at the end of the day it's still a guess, a speculation. I traded future a lot but never with the money I can't afford to lose. I tried my luck opening shorts and long after the price has moved so significantly waiting for re bounce but even in the worst case scenario of market going the opposite of my prediction, my lost money can be recovered easily.

You've said a lot that needs to be followed up with by beginners mostly trading with an amount one can afford to lose, some times you might get the right analytical skills but have problem in trying to apply it in your trading because trading mechanism always comes with unpredictable opportunities so then what I can really advice is to make sure  you're able to maximize every steps you take .

These are very vital information that looks so simple and easy to know that even the common market woman should know but it  doesn't really go that way as everyone still needs a special iqeu to understand and make these things to work. Anyone can think its easy and want to invest. It's not just as easy as it look ohhh. You need to pause look and study the market to know how far you can go at different stages of the market before fully embarking On the journey

Trading is always full with unforeseen circumstances and unpredictable movement and as a smart money trader either new traders or old traders one need to make sure we apply proper risk management to every each of our positions we might take in the market no matter how strong our analysis might be even if we see the analysis as a 80 percentage sure let always apply risk management for our portfolio safety.   Technical analysis is one the strong basic one need to put into consideration when trading but there are other factors too that works along with technical analysis. Things like fundamental analysis, emotional control, patience, risk management and many little things too which the OP listed out for us to put into consideration. With the right knowledge we can enjoy our trading journey.

What you have shared is practically the truth especially as a newbie. But an old trader knows better. An old trader knows that when price gets to either support area or resistance area, those are the places to set stop loss so that if price break there then you take a minimal loss out instead of allowing the market to keep rolling your funds out. Usually when price breaks a support group, it is possible to keep falling until it finds another support to rest on and maybe a spike for reversal. Hence, to trade with stop loss is a good strategy not to over lose or get your funds liquidated. It is important to follow technicals to locate support and resistance levels because those are areas of rest for price to begin a reversal or continue same direction. So using indicators that will help you locate support and resistance levels is quite important.

The risks management is the important thing that each an every trader’s have to be apply in every of their positions, because their some of the traders that they will be claim that they’ve a strong analysis they don’t know that the risk management it doesn’t matter how their analysis stronger; and that’s why most people’s failed when ever they come to the trading. Honestly those are the all things that anyone who have interest on the trading need to know before starting up their trading, but some will see it like getting knows all the technical analysis and fundamentals of the trading will wasted their time which they go directly and enter the trading markets; those types peoples never be successful in trading: Because of proper knowledge of how trading works.

There's no such thing about precise technical analysis on which it might be showing some perfect buy or sell kind of signal based up with those indicators but it doesnt mean that it will really be that giving out that sure movement and thats something which is that very normal no matter which market that you are trading on. We do know that there are tons of factors that would be affecting out the price movement of the market on which no matter how good your TA analysis would be but still it wont be giving out that assurance that it would be the precise entry but of course having this skills or knowledge is much more better in comparing into those people or traders who doesnt have the idea on how to trade within markets. Once you would be able to have that TA knowledge then you should be combining it out with fundamentals on which this would be the best approach.

Indicators are not the foundations of trading but a lot of traders, especially the newbies have that notion that it is what defines trading. When the chart indicates oversold!! Most beginners believe that it automatically means the price will go back up, but in reality the market is no one's friend so it doesn’t follow the direction of indicators, the market can just keep doing the opposite. That is why protecting your funds is one of the fundamental and important things in trading, the focus should be on not losing much money to the market not really on how much profit is to be made.

The market is not your friend and doesn’t think about your emotions when trading the market. Only risk what you can afford to lose and the market is always two sides. Once you’re not on the side the market is leaning to, you’ll lose greatly in your trade and will lose a lot of money, so focus on making the right decisions at all time in the market because that’s what gives you an edge in the market. Your technical analysis is not enough, they also fail sometimes but they don’t stop giving you an edge in the market. Proper risk management is what helps you the most and your best friend to lean to in the market even in the future.

I have heard to take trading as a business, and that is one very good advice on trading. Some people in trading are taking trading as gambling, and that is worrying how they make some decisions in trading. They are more in a push to make quick profit, and will risk entering any position on the chart that they see that looks like an opportunity to make money. These are the kind of people the market manipulated the most and eats their money because their approach to trading is bad and this could be due to poor orientation on trading.

Mind you, if we can evade these beginners from rushing into trading, it would create a better outcome than seeing them losing everything they have because they think trading is just easy, and that trading will make them get rich quick. Trading is very complex, especially for inexperienced ones. That's why I would always say trading is not for everyone. Weak hands will only regret why they enter trading, when they can just focus on buying and holding bitcoin and still make excellent profits if they never sell at a loss.

I don’t understand the kind of business you take it, as business you mean seriously that you don’t make harsh decisions and not going chasing after high profits and calculating your loses before getting into the trade to see if you can handle the loss? If it’s so it’s a great idea because easily one of the most common ways people lose in trading is not considering losses. But if your taking it as a business like it’s your source of income only then it’s a wrong take, go and look for a more stable source of income

Risk on them are maybe high but I bet their return are like that too, high. It is why there are people that still gambles on them. Gamble is only the term but it does not mean that who does them often are doing it blindly. They are not scared because they are equipped with the right tools to increase their winning chances. You tried TA and concluded that it is beyond you, maybe because you literally just tried it? For a while, and you are not consistent to improve. You even said that it was similar to sports betting where it needs repeated attempts. If we add in the probability or the odds, then you should be smart to also choose the realistic ones to enhance your chance.

You know WHY you got liquidated? Because there are REAL and ACTUAL traders who truly have an EDGE over plebs like us who have NO EDGE trading different markets. You're merely making those traders rich. "Old traders".   Don't "trade". HODL Bitcoin

It’s never too late to learn. Older traders might need some refresher every once in a while. Anyway, I really like the title that trading is beyond technical analysis. Trading takes some grit and some risk. Everyone can learn how to analyze through statistical tools but not everyone will be able to take that leap of faith. Trading requires mental strength and emotional regulation.