How to read trading charts? - page 2.

Omega Weapon

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Quote from: Janation on January 24, 2020, 11:10:03 PM

I am not good with it, to be honest, but I can suggest you this site.

https://www.tradeciety.com/the-basics-of-chart-reading/

I asked my friend about the candles they are talking about in the past since I am so left out when they talk about the price charts in the past. At that time we usually hang out and they would have this conversation where they would talk about the movements at the chart and they have this name for that. They just laughed at me and suggested this site to read for a start. I have some photos of the patterns of the candlestick chart, the same as Renko charts and point and figure charts.

It is important to learn as much as we can about that subject, even if you do not want to be a trader and you are an investor you can still use the charts to know the overall direction of the market and know if you are going to obtain profits or if you are going to face some difficult months and you will need to prepare yourself mentally for that, so even if you are an investor you can easily see that you can get some important benefits from learning this subject.

Janation

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I am not good with it, to be honest, but I can suggest you this site.

https://www.tradeciety.com/the-basics-of-chart-reading/

I asked my friend about the candles they are talking about in the past since I am so left out when they talk about the price charts in the past. At that time we usually hang out and they would have this conversation where they would talk about the movements at the chart and they have this name for that. They just laughed at me and suggested this site to read for a start. I have some photos of the patterns of the candlestick chart, the same as Renko charts and point and figure charts.

Apened

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Quote from: carlfebz2 on January 21, 2020, 10:41:24 AM

This doesnt only talks about reading indicators like candles but also some other figures like Depth Charts. https://www.youtube.com/watch?v=PtL1ncFPWns

I do find it so helpful because you can able to see the demand and supply and with this you can tell if its ideal to get in or not.Im not really that in candle pattern
because most of the time they do fail.

This is helpful but itbcan be also be prone to fake demand and supply, candlestick is more realiable for me if we know the exact possible end of a trend like support and the resistance that may validate any candlestick pattern in that way the chances of a right trade is more high combine with the supply and demand.

Omega Weapon

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Quote from: Oilacris on January 21, 2020, 08:46:54 AM

Everything can really be read up online.All the tools needed can only be reached in tip of your fingertips.It'll just need a little effort on your side if you do really like to improve your trading skills.

Reading charts wont be simple if you dont know even the name of a single indicator but once you do able to identify it out then it would be no hard for you to make some analysis.

Each analysis will vary on each individual because we do have different insights towards things.

While it is true that everything is online at the same time a newbie is not going to be able to distinguish between good information and bad information and when it comes to making money in the markets I can assure you there is a lot of false information out there, you could be diligent and read a website and their strategies to make money and then put one of those strategies in practice only to discover too late that you never had any chance of making money due to the bad advice that you received.

carlfebz2

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This doesnt only talks about reading indicators like candles but also some other figures like Depth Charts. https://www.youtube.com/watch?v=PtL1ncFPWns

I do find it so helpful because you can able to see the demand and supply and with this you can tell if its ideal to get in or not.Im not really that in candle pattern
because most of the time they do fail.

arimamib

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Activity: 1792

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Leading Crypto Sports Betting & Casino Platform

Quote from: TitanGEL on January 21, 2020, 02:01:22 AM

If you want to have a skill where you can able to read a chart then your focus is should interpreting and reading candlestick first. Candlestick is what we see in the chart and it represents the price of a coin or stock. There are 2 parts of the candle stick. The first one is the body where it is the solid part and the second part is the tail where it can be a upper wick or lower wick. You should always remember the 4 important points in a candlestick and it is the open, high, close and low. If you understand how to read candlestick then you have now foundation to understand the whole chart.

The basic in trading science is indeed important, because mistakes when making lines draw to make visual aid of price movements. so when you already understand candlestick then in the growth of further knowledge it will be easier, because the help of tools currently in the market is good enough.

Oilacris

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Quote from: atjiat on January 18, 2020, 09:36:23 AM

Quote from: Oilacris on January 18, 2020, 06:51:24 AM

Quote from: Leviathan.007 on January 16, 2020, 12:32:19 PM

These two will help for for the patterns:
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns
https://www.babypips.com/learn/forex/how-to-trade-chart-patterns

and here is for candlestick:
https://www.babypips.com/learn/forex/lone-rangers-single-candlestick-patterns
https://school.stockcharts.com/doku.php?id=chart_analysis:candlestick_pattern_dictionary

Goodluck

I would recommend these tips when it comes from basic to basics when reading up patters.
You would also need on familiarizing all sort of indicators for you to understand every time on staring on charts.
This would takes time and wont really be learn overnight but at least learning everything gradually and slowly.
Technicals wont be precise though on predicting prices but its much more better rather than nothing.

For a person like me, the information provided is already a big science, as I am just starting to study trading, but I only learn thanks to the YouTube video. And almost no one focuses on the correct reading of charts, although this is very important for analysis and for obtaining a complete result. In addition, it is difficult to find a resource where everything is correctly and clearly explained to the beginner.

Everything can really be read up online.All the tools needed can only be reached in tip of your fingertips.It'll just need a little effort on your side if you do really like to improve your trading skills.

Reading charts wont be simple if you dont know even the name of a single indicator but once you do able to identify it out then it would be no hard for you to make some analysis.

Each analysis will vary on each individual because we do have different insights towards things.

TitanGEL

sr. member

Activity: 1036

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If you want to have a skill where you can able to read a chart then your focus is should interpreting and reading candlestick first. Candlestick is what we see in the chart and it represents the price of a coin or stock. There are 2 parts of the candle stick. The first one is the body where it is the solid part and the second part is the tail where it can be a upper wick or lower wick. You should always remember the 4 important points in a candlestick and it is the open, high, close and low. If you understand how to read candlestick then you have now foundation to understand the whole chart.

Omega Weapon

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Activity: 1092

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Quote from: tbterryboy on January 16, 2020, 11:53:17 AM

Reading and understanding charts seemed impossible for me when I initially started at the phase but as soon as I got to learn majority of things, I found it easier for me to understand the graphs and patterns. It usually takes a hell lot of research, Immense knowledge and the will to denote majority of your time in learning at the initial phase.

There are some books which can make it easier for you to understand the charts and patterns but those books would have hundreds and thousands of pages which you have to go though. So it might never be an easy task, but if you have the guts to work harder, than no one can stop you from being a success ahead.

If you want to earn money then you need to go through those thousands of pages because if you are not doing it you can be sure that someone else is and he is going to beat you in the markets, I understand the desire to make money without making a lot of effort but trading is not really the market for that, if you want to be a successful trader then you need to be smarter and have better skills than the majority of the traders and that is not an easy thing to do.

diazepam666

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1BTC Welcome Bonus

While investing in any trading platform everyone should watch the trading chart using any e portfolio managing website or application but many of the people doesn't know does any trading chart and simply goes for trading.
Those people are using opportunity of the next trade is gonna fall in the market.

bitgolden

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After all of this learning, don't forget to actually test out what you learn as well, sometimes not everything you learn will work, and depending on the market not everything will come out true.

Like there is always charts and topics here about how "this hasn't happened since 2017 December!!, price will go up!!" and nothing happens, just because there has been some bull run recently, never forget the bear runs as well. I remember very very clearly in November 2018 everyone was expecting a big bull run, all charts and every indicator imaginable was showing bitcoin going up, price was around 6.5k and people were guessing 10k-15k levels because everything looked so perfect. What happened? BCH wars happened and price went down to 3k, so always be ready for the worst possible outcome at all times.

wxxyrqa

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Today, as always, such information should primarily interest beginners, because professionals have long learned to read the entire cryptocurrency market and the schedule of each cryptocurrency separately. The fact is that it’s not enough for success to know the real price of cryptocurrency during this period, because only thanks to the information provided by reading the chart can you determine the moments for a la profitable deals. To get started, you can study three special types of charts: a basic chart called a line chart, a bar chart and a chart called "Japanese candles."
Nevertheless, it is not enough for each trader to analyze prices thanks to charts, because in order to achieve real results from trading, you need to learn to understand other factors of the trading process, which consist of factors that affect price changes. It seems to me that the most important thing for forecasting a rise or fall is to know the reasons for the changes in the cryptocurrency market.

atjiat

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Quote from: Oilacris on January 18, 2020, 06:51:24 AM

Quote from: Leviathan.007 on January 16, 2020, 12:32:19 PM

These two will help for for the patterns:
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns
https://www.babypips.com/learn/forex/how-to-trade-chart-patterns

and here is for candlestick:
https://www.babypips.com/learn/forex/lone-rangers-single-candlestick-patterns
https://school.stockcharts.com/doku.php?id=chart_analysis:candlestick_pattern_dictionary

Goodluck

I would recommend these tips when it comes from basic to basics when reading up patters.
You would also need on familiarizing all sort of indicators for you to understand every time on staring on charts.
This would takes time and wont really be learn overnight but at least learning everything gradually and slowly.
Technicals wont be precise though on predicting prices but its much more better rather than nothing.

For a person like me, the information provided is already a big science, as I am just starting to study trading, but I only learn thanks to the YouTube video. And almost no one focuses on the correct reading of charts, although this is very important for analysis and for obtaining a complete result. In addition, it is difficult to find a resource where everything is correctly and clearly explained to the beginner.

pajak666

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Get a proper book. A single source of information that will set you in some mindframe that you will fully understand and could navigate thru. Then you can decide if this is trading/thinking style that suits you or not. Only then get another book/author/blogger and learn his way. With experience you can start reading basically anything and incorporate interesting stuff into your repertoire of trading. What I mean is, if you read too much different stuff, from different strategies and try to mix it up and pick out what you 'feel' from each of this, it will eventually end up badly as you will lose any idea of what you are doing and why. Learn a bit, get experience on that, learn more, get more experience etc. Don't dive in and suck up on anything you can find as you will get brain washed.

Oilacris

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Quote from: Leviathan.007 on January 16, 2020, 12:32:19 PM

These two will help for for the patterns:
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns
https://www.babypips.com/learn/forex/how-to-trade-chart-patterns

and here is for candlestick:
https://www.babypips.com/learn/forex/lone-rangers-single-candlestick-patterns
https://school.stockcharts.com/doku.php?id=chart_analysis:candlestick_pattern_dictionary

Goodluck

I would recommend these tips when it comes from basic to basics when reading up patters.
You would also need on familiarizing all sort of indicators for you to understand every time on staring on charts.
This would takes time and wont really be learn overnight but at least learning everything gradually and slowly.
Technicals wont be precise though on predicting prices but its much more better rather than nothing.

Eternad

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Activity: 1260

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Leading Crypto Sports Betting & Casino Platform

Quote from: conex on January 06, 2020, 04:00:59 AM

If you're new to crypto i would highly suggest to check Newscrypto.io School program. It guides you step by step, reading charts, chart patterns etc. All in one place.

Try to learn in some online courses offering trading masteral, even in YouTube there are some lecturer. It's too broad to discuss here, but by watching videos or enrolling you will understand the indicators, those candlesticks and lot more. It is needed to have knowledge in graph to trade well.

KolMaleK

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Check out EXCAVO's podcast about how to trade:
https://www.ircryptocurrency.com/exclusive-podcast-excavo/

Apened

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Quote from: Bodykeepers on January 04, 2020, 10:48:03 PM

Have a nice day! I know that most of here are all traders if you don't mind can i ask a little questions here because i am curious about trading. How did you do that? How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.

The best way to learn chart reading is to learn the basic technical aspects of chart. Support and resistance then next is ti learn the trend line then making a chart patterns that will help you spot even more the breakouts and the possible trades that can make you money.

onyek16M

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Quote from: Bodykeepers on January 04, 2020, 10:48:03 PM

Have a nice day! I know that most of here are all traders if you don't mind can i ask a little questions here because i am curious about trading. How did you do that? How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.

need analysis every days to get knowledge how to read the chart. for me i always analysis coins day everyday to get how many the lower price and higher price then decision to buy or not. and second ways for me is follow the simple movement avarage such follow trend up or trend down. its my way, each person has own ways to start their trading

Leviathan.007

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These two will help for for the patterns:
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns
https://www.babypips.com/learn/forex/how-to-trade-chart-patterns

and here is for candlestick:
https://www.babypips.com/learn/forex/lone-rangers-single-candlestick-patterns
https://school.stockcharts.com/doku.php?id=chart_analysis:candlestick_pattern_dictionary

Goodluck

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