Post
Topic
Board Trading Discussion
Re: Peace of mind, the best trading strategy!
by
Faisal2202
on 12/12/2024, 23:10:12 UTC
With peace of mind, we can make best trading decisions. I have tested almost every technical indicators and also tried to get the latest news and fundamentals informations about cryptocurrency in other to make informed trading decisions. but, today I have read most of the news and the forthcoming"us federal funds rate and fomc statement" which always creates great indecision in the market. I discover that this is the first time in more than 7 months now that i did not worry about what happened during fomc meeting.  The usa elections have given direction to the markets and people are not even bothered on the outcome of the meeting.  Peace every were in the market and I think that is what we need to make a good trading decisions.
Moreover,  i also discovered that almost all the indicators work best on the long timeframe like weekly or monthly timeframes. If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.
Really you tested almost every technical indicator, that's hard to believe but if you are saying so. Also news is more effective then technical indicators, as you said, like the news of elections, and the FOMC meeting did have a positive impact this time too as before the meeting result market was below $100k or few hundred less or above it. But after the meeting the results was positive and market pumped there are lot of people who trade on these sentiments.

Some trades on technical indicators, and TBH I only trade on Support and resistance and RSI, I have to learn two new indicators as well and I think they will be enough for me to trade even on daily basis. But I can't agree more with you that in the long run we get peace of mind, and in the day trading or short term we have to keep analyzing the candle again and again. Which is very tiresome, so I also avoid that and it's very risky too.