Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Trading Discussion
Re: I am not lucky in trading - what am I doing wrong?
by
Karmakid
on 15/12/2019, 00:54:11 UTC
Quote from: Colt81 on December 14, 2019, 06:17:14 PM
Quote from: Webetcoins on December 14, 2019, 11:01:42 AM
Quote from: Blackdeath on December 12, 2019, 12:32:43 PM
Quote from: Panslav on November 27, 2019, 05:19:15 PM
Hello all,

need advise, if any exist Smiley
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?


thanks
P.

I think you are not the only one who are facing difficulties in trading because trading is really risky and difficult to learn that even you watch a lot of tutorial videos and read books about trading, it is still difficult to apply it in your trades even you follow the basic strategy of trading like buy low, sell high because bitcoin votality males it difficult to trade that you can't predict when will bitcoin's price will go up and down.
What we see in tutorials and read in books are simply theoretical things but when a trader is doing trading, that is practical aspect where you need to utilize your knowledge. Practical scenarios do not resemble your bookish knowledge all the time and you have to utilize your decision making power on the spot. You don’t get much time to think so this is why it is said that trading shall be learned through practice.
Indeed. You can't really learn trading if you didn't get enough practice with it and not trying to trade even just in a small amount for you to have an experience in trading. I personally believe that books and video tutorials are just guidelines and tips that you still need to do it hands on for you to find out if it will be effective on your future trades.
Implementing and executing the strategies or plays that you have learned throughout from reading book, watching videos on youtube etc. are the start for a newbie or a beginner to learn trading. Learning is not always about watching and reading, it is about applying and adjusting to the mistakes that you will be making in order to come up with a better strategy that will fit in your style of trading.