Quote from: Litzki1990 on Today at 06:29:08 PM

Quote from: Aanuoluwatofunmi on December 18, 2023, 07:38:02 PM

Quote from: Franctoshi on December 18, 2023, 06:57:45 PM

Quote from: shisotsu on December 11, 2023, 12:50:32 PM

For all my 5 months in trading, I'm learning only technical analysis but now everyone is talking about the concept of "Smart Money". So I think that trading is changing and speculators should stop trading based on technical analysis. Or smart money just a concept that cannot possibly work in the market,

Technical analysis works fine and everything that happens out there in the market both the news events are represented there in the chart, but the problem we as traders have is that we will always make trading mistakes in our analysis or our actions in the market, and that makes technical analysis seem not working perfectly, human emotions affects the direction of the market as trader will tend to react to the changing market as sudden events like war, bad economic news etc. unfolds, While on the smart money concept, I urge you to go study the Wyckoff schematic of method accumulation and distribution phase, you would realize that it plays out most of the time in the market.

Technical works both in the traditional market and in the crypto markets.

Not only technical analysis works in cryptocurrency trading and the fact that such is being used does not give the accurate conclusion to wether it could be the best of it all, we can also have some available alternatives in most times, it's in our new attempts on using any of the means or strategies in performing our trades that determines what we see in reflection of our kind of trade in consideration most times, we may just also needs to know much of ourselves than the other prediction analysis we may have.

There is definitely a need for technical analysis in the field of studying. A trader can easily understand the market by doing technical analysis. There is no alternative to having a simple understanding of the market to be successful in trading. We all know that the market is changing every moment and sometimes the market changes by surprising us, at that time we have to analyze the market by ourselves instead of relying on technical analysis.Technical analysis can usually be done by considering the past and present but if there is a sudden big change in the market then this analysis will be wrong and manual analysis is required at that time. But having all kinds of ideas in the field of trading is definitely a very necessary task for a trader.

You would really be seeing its significance on the time that you would really be doing trading. This is the primary tool that you would really be needing for you to be able to handle up yourself
with this volatile market. You cant really just make some position without any basis or simply making those blind predictions on where prices would be going because you are really just
that basically doing gambling just like on what others been saying. Technical indicators might not work but doesnt mean that they are irrelevant on trading field and to know that these are
just basic tools that you would really be needing for you to survive this unpredictable space.

You cant just wander around and really having that kind of approach on making up some random guess about on where prices would go. Make yourself that wary
and you would be finding out its relevance one you are doing trading.