Quote from: Faisal2202 on December 12, 2024, 11:10:12 PM

Quote from: Josefjix on November 07, 2024, 05:07:44 PM

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.

Combination will really be the key because there are market conditions that it doesnt really getting in line with technical indicators on which no matter how good your analysis would be but on the time that sudden news come out will be making out some impact, although not all news or events will really be having its significant impact towards price movement on which this is only applicable on the time or moment that you do see up some events happening around but if we do speak about assurance whether using up TA or FA then it will really be not giving out that guarantee on having that precise prediction on where prices will potentially be going. So it will really be that up to you on how you will really handling yourself with this market volatility and this is where you will be testing up your skills and knowledge on which it will really be that differ into each person when it comes into this aspect. Talking about peace of mind then this is really that needed on having that clear mind but there are instances on which it will test out our patience and temper specially on a losing condition or seeing our portfolio had become that low or in negative. Know your limits and handling up yourself on this volatile market will really be the key. You wont be able to sustain yourself if you do keep yourself that easily panic out on the time that the market will be going south, you should be that really prepared on these instances and instead of panicking, it will be ideal that you should know on how to handle yourself and with your emotions.