Post
Topic
Board Trading Discussion
Re: technical analysis is enough to be successful in trading ????
by
qwertyup23
on 10/04/2019, 11:12:02 UTC
I am trading from many years using technical analysis but technical analysis only is not enough , I am lacking something in my analysis and not having confidence in taking trades only based on technical analysis, I did ask many traders they say lot of factors like psychology, crowd behaviour , market sentiments , any experienced traders here know some other factors  please mention , and if  of you know  books where I can learn those  please mention book name            thanks

Doing technical analysis alone cannot guarantee you to become a successful trader. Remember that trading is a multi-factorial skill that requires various experiences and skills in order to become successful. I strongly suggest that you study the market through considering the internal and external influences on the coin. Furthermore, confidence is something that is gained through experience.

I am not aware of any books that teaches the basics of trading but you can browse around this section of the forum as many people have provided their personal tips and experiences in order to become a better trader.

Quite very effective if you are willing to taking small profits per trade and not be so greedy.

This is actually what most day-traders do. They accrue small profits from their transactions but they have to develop an exit strategy to know the limits of their trades. Multiple small trades with small profit margins may be profitable but it might be difficult to recover from ONE BIG LOSS from a trade.