like every other people I have learned TA to gain profit. Previously I went to forex and made my account 0. I made small profit but at the end of the month I lost everything. I invested my hard earned money and i felt very sad.
However after came to know crypto invested and got good profit just holding good coins and doing news trade. However we are seeing huge dip more than 6 months. I came to know bitmex where I can take advantage of leverage. So with my TA experience I jumped in bitmex. I already invested twice and got liquidated.
I am not telling that I am expert. But Does TA really work in highly manipulation market.
Look at this candle when it occurred. When bitmex was under maintenance and people have no control over their running trade they calculated how much high is needed to liquidate sellers. And they just did it.
If this type of bot activity is running how can we trade.
One thing I learned reading candlesticks and following some trade rules doesn't make you winner. you have to use your brain and your thinking level should be high.
I will overcome my limitations and will become a great trader one day. Pray for me guys.
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Agree, it's usually our emotions that mess us up. TA is all about probabilities and usually whenever I lost $ trading it wasn't because of faulty theory, but because I either
a) Didn't know something
b) Didn't have a solid strategy and fell back on emotions
TA requires a lot of study and a strategy that you backtested many times over. The less you have to rely on your emotions, the more you win. If you are thinking of buying in and find yourself obsessively checking the price and a chart, instead of referring to clear rules you have prepared, tested, and written down, it's usually an indication you are about to make a mistake.
It's definitely a roller coaster that's why so many people quit.
I lost my account due to emotion.