Quote from: LogitechMouse on December 22, 2024, 03:54:05 PM

Quote from: Krishna1942 on December 22, 2024, 03:17:00 AM

This is my personal experience guys actually what I have done is I have deposited money in sites and started trading without emotional control just taking a trade without understanding direction. Most of the times markets are in consolidated state. In such phrase absolutely we end with losses. My suggestion is wait for a clear direction then only take trade it may take few days but gives good returns

I didn't read the whole thread of yours, and I ended up with the text that I bolded because that bolded text alone is enough for me to say that you did something wrong, and you let your emotions take you that's why you might've ended up losing.

How to look at a clear direction? Look at the higher timeframe, but this isn't enough for you to see the whole trend because anytime, the market can go down like what happened a few days ago where when many are expecting for it to go up since it bounced back, it went down even more. In crypto trading, there are lots of opportunities as long as you know what you're doing. It's all about maximizing those opportunities to get bigger profits.

For you to see those "opportunities", you need to know how to read the chart at least in a basic way and make a strategy based on how you read it.

That's how it is in trading, we must first determine what trend bitcoin is facing now, and that also depends on the strategy we will make and use. And I also agree because from my experience I use the 4hr, 1 day, 3 day and 1 week timeframe because in this way we can easily determine where the right trend is.

And now even if you use indicators like EMA and just make the length 200 in the input settings of the indicators. You will immediately see the trend whether it is up or down,
just as simple as that and this way you can do analysis on the chart for sure properly.