Post
Topic
Board Trading Discussion
Re: Does Technical Analysis Really Work?
by
tygeade
on 29/02/2024, 03:06:33 UTC
Technical analysis is important and it works though that's not all, maybe you should be getting intouch with news from the crypto market after which you back it up with your analysis and you trade.

And when you analyze stick to your plan no matter what. Study the best areas to place your stop and tp very important.for me I do increase my stop lose a little and reduce my profit margin because I discovered most of my trade hit sl and play out perfectly afterwards while some trades to my tp region and bounces back. So discover what works perfectly for you and try doing it exactly all the time it might help.
That bold part is so important, most people do technical analysis but they do not end up sticking with it, they see what they should do and they realize what would be better for them and yet after a while they end up with something wrong, which they shouldn't really be doing. I personally believe that we could make a lot more money if we were a bit more robotic or bots are just a bit more human.

A combination of both is a lot better, bots do not see the news and calculate that unfortunately, it just looks at the chart but chart and rumours go hand in hand together, we see the rumours AND the charts but we fail at sticking to it in the end. This is why we end up making a loss just because we didn't stick with it.