Is Technical analysis a must know in crypto trading?

Oilacris

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Quote from: Pamadar on August 11, 2023, 07:42:52 PM

Quote from: fauzan Ichsan on August 10, 2023, 03:23:16 AM

Quote from: Iloveegusi on April 12, 2023, 08:14:01 PM

Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here.
P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here.
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

Technical analysis is very important to become a pro trader, especially for day traders, of course, they really need technical analysis to determine the transaction area. you could say that with us having an analysis first, we will know where to open a position, then where to place the target, and determine where the cutloss limit is. that way we will have a framework that must be complied with, so that it will fulfill the portfolio that we make, but it is not easy to discipline ourselves according to the framework, we have to practice a lot to have trading experience

The basic knowledge that can be enhanced throughout your stay inside this business, TA is your tool to understand the situation.

With knowledge using it, anticipation can be more close to what the market is proceeding, you just need
yourself to be ready if you needed that adjustments and be open if there're changes in direction in order
to adopt and have that better view of how you aiming to place your position.

On the time that you would be deciding that you would really be going on trading venture or career then the first encounter would really be a trading chart. Then what first you must do? Of course you do

need to read up with those candle stick patterns from different timeframes on which means you would be mainly touching up technical analysis with this kind of approach on which it is really that something you must need to learn up so that you would be able to sustain or survive this unpredictable market.Just like the rest been saying on which it is really just that normal that you would really be needing up that kind of learning because if not then there's no way that you would be finding yourself to be that efficient.

This is why it would really be that understandable that you should learn up the basic principles of technical indicators because if you cant be able to manage up yourself
then you would really be having a hard time on trying out to survive.

Pamadar

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Quote from: fauzan Ichsan on August 10, 2023, 03:23:16 AM

Quote from: Iloveegusi on April 12, 2023, 08:14:01 PM

Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here.
P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here.
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

Technical analysis is very important to become a pro trader, especially for day traders, of course, they really need technical analysis to determine the transaction area. you could say that with us having an analysis first, we will know where to open a position, then where to place the target, and determine where the cutloss limit is. that way we will have a framework that must be complied with, so that it will fulfill the portfolio that we make, but it is not easy to discipline ourselves according to the framework, we have to practice a lot to have trading experience

The basic knowledge that can be enhanced throughout your stay inside this business, TA is your tool to understand the situation.

With knowledge using it, anticipation can be more close to what the market is proceeding, you just need
yourself to be ready if you needed that adjustments and be open if there're changes in direction in order
to adopt and have that better view of how you aiming to place your position.

fauzan Ichsan

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Quote from: Iloveegusi on April 12, 2023, 08:14:01 PM

Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here.
P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here.
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

Technical analysis is very important to become a pro trader, especially for day traders, of course, they really need technical analysis to determine the transaction area. you could say that with us having an analysis first, we will know where to open a position, then where to place the target, and determine where the cutloss limit is. that way we will have a framework that must be complied with, so that it will fulfill the portfolio that we make, but it is not easy to discipline ourselves according to the framework, we have to practice a lot to have trading experience

goldkingcoiner

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Quote from: Iloveegusi on April 12, 2023, 08:14:01 PM

Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here.
P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here.
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

As a veteran trader, I would say that technical analysis as well as fundamental analysis are quite important if you want to increase your probability for predicting market action. There is no "best place to learn" but rather you should do a lot of self-research. AKA Google a lot. Do not trust Telegram/Discord/Youtube/Tiktok etc. groups.

There is not much to learn. Technical analysis is basically the interpretation of what candlesticks and candlestick patterns represent as well as the tools used for interpreting the candlesticks. As far as fundamental analysis goes, as long as you keep yourself up-to-date on the news and going-on's in the crypto world, you should be more than fine.

Websites I recommend: Tradingview for crypto TA and Coindesk or Cointelegraph for crypto news.

ananyabushra

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It is not mandatory to know technical analysis, But you have to be able to read the charts. Trading is hard when you are a newbie, So its safe to rather stick with holding

lab10collective

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Quote from: BD Crypto on June 20, 2023, 12:22:33 AM

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

You have made a great point that technical analysis is very important for trading. Apart from this the choice of coin is also very important so that you can further improve your trading. Coin selection also requires a lot of care and knowledge. Circulation supply, market cap and market rank are always important in choosing a coin, because there are many coins in the market where people have invested but their value is not increasing.

Another very good point you have made is that it is always important to choose an entry point and an exit point. People who do not adopt a strategy for entry point and exit point in the market can never profit from the market.

Of course, Google and YouTube are the best platforms to get information,but it can be even better if you try to learn from an experienced trader in this matter.

RewFrew

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Quote from: BD Crypto on June 20, 2023, 12:22:33 AM

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Actually technical analysis is more important in crypto trading. Without technical analysis there has big possibility to loss our fund. Technical analysis such kind of analysis were we analyses past price, recent price and what will be future price that depend on past and running price. For this analysis A trader can understand what probably will future price. So i thunk this analysis is most important for crypto trading. Actually technical analysis indicate us where we have to buy and what will best sell position. If we follow proper technical analysis then we will able to know what will entry and what will exist position in a trade. If we understand it then we will be profited in crypto trade.

Pamadar

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Quote from: taufik123 on June 21, 2023, 07:37:27 PM

Quote from: Fatunad on June 21, 2023, 06:59:37 PM

-snip-
TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

and what happens nowadays is that even beginners trade by placing positions blindly without doing any analysis.

This usually applies to futures trading and those beginners trade futures like gambling, just short or long using high leverage.
Using too high leverage will result in a lot of losses if it is not done properly.

TA really has to be mastered, at least to understand how basic technical analysis is.
don't just trade without having any knowledge. it's the same as walking without direction and eventually going into the abyss.

I do agree with both of you, TA is something that traders should learn first before stepping into trading.

A tool that will give you the opportunity to win on your trade, aside from that, with TA or with a better understanding of TA
your chances of losing a lot will be lessening as you will be able to learn how to stop-loss.

With that knowledge, the chance of making good trades will be high while making bad call due to unexpected circumstances
will be lessened.

ItsCrafty

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Quote from: Fatunad on June 21, 2023, 06:59:37 PM

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Yes, you are right in the matter discussed above. When engaging in crypto trading, there are several factors you must be aware of to make informed decisions. First, understanding the fundamental factors that can impact the value of cryptocurrencies, such as technological developments, regulatory changes, and market sentiment, monitoring all of the technical indicators and chart patterns can provide insights into price movements and potential trends. Also, keeping an eye on trading volume and liquidity is important to ensure smooth execution of trades and decisions. It is good to stay updated with news and announcements from the crypto forums, as it can greatly influence market behavior. Lastly, considering risk management techniques and maintaining a disciplined approach are vital for successful crypto trading.

taufik123

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Quote from: Fatunad on June 21, 2023, 06:59:37 PM

-snip-
TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

and what happens nowadays is that even beginners trade by placing positions blindly without doing any analysis.

This usually applies to futures trading and those beginners trade futures like gambling, just short or long using high leverage.
Using too high leverage will result in a lot of losses if it is not done properly.

TA really has to be mastered, at least to understand how basic technical analysis is.
don't just trade without having any knowledge. it's the same as walking without direction and eventually going into the abyss.

Fatunad

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Quote from: Pamadar on June 21, 2023, 06:29:20 PM

Quote from: BD Crypto on June 20, 2023, 12:22:33 AM

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Your trading is like gambling. Without proper knowledge, you are just relying on luck,

Most of the time, those are the people who got influence by people who are already inside this industry, thinking that they
can easily duplicate the success of those people, they are just placing their investment according to how they were are being
told, without any idea of what you are doing, for sure you are mostly losing your money. Always have the time to study. TA is
one good factor that you can use when entering this kind of industry.

Trading isnt something that you should really be having that kind of gambler like approach because you would definitely be losing money instead on making profits because you arent putting yourself that proper approach on how to deal with the market. Of course you cant really be just making up some positions without having any analysis or strategy. TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

Pamadar

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Quote from: BD Crypto on June 20, 2023, 12:22:33 AM

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Your trading is like gambling. Without proper knowledge, you are just relying on luck,

Most of the time, those are the people who got influence by people who are already inside this industry, thinking that they
can easily duplicate the success of those people, they are just placing their investment according to how they were are being
told, without any idea of what you are doing, for sure you are mostly losing your money. Always have the time to study. TA is
one good factor that you can use when entering this kind of industry.

Jwest

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Technical analysis is the major of all, without knowing technical analysis get, I call it a blind trader.

BD Crypto

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Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Bitcoin_people

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Crypto trading definitely requires some technology analysis. Especially when a new trader invests money in his business he needs to master this completely. Basically a new investor in trading needs to know about cryptocurrencies especially he needs to know and take ideas. Just as a person needs to have specialized knowledge and skills in order to make a profit in trading, so does experience in trading. But it is very important to be aware of the volatility in the Bitcoin market to adopt different strategies in trading. And never risk trading with Bitcoin with the confidence of never having to face a trading loss. and by considering various aspects of trading, you will surely get complete success.

Ziskinberg

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Quote from: jrrsparkles on June 15, 2023, 04:09:58 AM

Technical analysis is not that important for long term investors or traders but if the trading time frame reduces then you need to rely on the charts as well as indicators or else you are just gambling with your crypto assets. You can get technical analysis gradually and you don't have to spend any money to acquire the knowledge as well, just go through the books as well as on the internet to get the idea of technical analysis and try to implement the strategy on tools like trading view demo account or any similar tools.

TA exists because of its key role in trading but is less used when you are just investing. If we are trading, we must know how to analyze the market situation as this was the basis of our response and decision. It has to note that without TA we are likely just lose due to wrong buy and sell calls. Many people underestimate this tool and do not wonder why they fail. Perhaps, it was been created to have a purpose in trading which is why we should have to consider this as one of the stuff we need to acquire if we wanted to grow and succeed.

blockman

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Quote from: Hamphser on June 18, 2023, 04:29:10 PM

Although it wont really be giving out that guarantees or sureness on making yourself that profitable

And still, it's a way for most traders to know what they should decide on and that's a basis of their decision whether to buy, to sell or hold.

Quote from: Hamphser on June 18, 2023, 04:29:10 PM

but you do have that better chance or possibility that you would be making profits
compared into those people who do have that kind of different approach on things.

Strategies are different and there could be simple strategies in our eyes but that's even more profitable being done by other traders. And there's a different approach that we've seen weirdly or for the firs time but then, it's way more profitable than the usual strategies that we've known. That is why for some traders, if they have found a strategy that's working for them perfectly. All they need to do is to keep on using that strategy so that they'll be able to get used to it and change only if things are no longer effective for them.

nlovric

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Quote from: omgitsmehehe on June 13, 2023, 07:22:32 PM

Learning from a legit source and getting the require tool for trading the market independently, it's a gradual process with estimated budgets. Ofcourse technical analysis is the one important thing we should as traders, there's no time for reluctancy. Technical and fundamental analysis are the two basic concepts a trader must know before going into trading. It's definitely a complex path concerning trading but the newbies and pro traders ought to know the basic necessities of trading, I'm already acquainted with these trading strategies.

Right learning from reputable sources and getting the required equipment for independent trading is a gradual process that necessitates both time and financial planning. Trading professionals must grasp the critical Role technical analysis plays in their path. When it come to accepting this feature there is no place for hesitancy or resistance. A Trader should also be familiar with fundamental analysis which serves as the cornerstone of a thorough trading strategy. Without a doubt mastering the complexity of trading can be a difficult route but it is crucial for both novice and seasoned traders to understand the fundamentals. I am glad to hear that you are already aware with these trading techniques because they set you up for success in the fast paced world of trading.

Hamza2424

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Hmm, When you are saying trading dear then in my view the solo full-time trading term can be considered as a full-time digital skill and it requires technical analysis (Compulsory). Things can move in a different direction if you change the term crypto trading to investment because in the investment the fundamental and basic analysis is more than enough to produce efficient results.

Trading is a good domain and the subdomains scope in trading is highly powerful, as Buy & Hold is under the trading domain and it can be considered as the most widely used strategy used by most users to secure decent profits in this market.

Hamphser

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Quote from: Pamadar on June 18, 2023, 03:45:35 PM

Quote from: Hamphser on June 17, 2023, 06:14:49 PM

Quote from: doomloop on June 17, 2023, 02:29:32 PM

Quote from: Pamadar on June 14, 2023, 06:12:30 AM

Quote from: awik p on June 13, 2023, 10:12:48 PM

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Indeed, any decision without proper knowledge about it will fall into a gambling type of investment.

More on how you deal with your study and research, the more you focus on learning different factors that may affect the market
the better you can analyze the situation.

With that, you may establish a good pattern where you can make more winning trades compared with those losing position,
TA is important, it lessens the fear in you when the situation is not moving the way you assess. It can extend your patience knowing
that chance to push back will take place.

TA would indeed lessen out that risks which is something that really recommendable or something that needs to do so because trading isnt something that you would really be needing that gambler type approach

which i have said earlier. On the time that you do step your foot into this unpredictable market then you should at least making yourself that get prepared on which it is really just that right that you should need
to learn up technical analysis and next would be some application of fundamentals which this two would really be the best tandem on handling or surviving this market.

Although it wont really be giving out that guarantees or sureness on making yourself that profitable but you do have that better chance or possibility that you would be making profits
compared into those people who do have that kind of different approach on things.

Topic: Is Technical analysis a must know in crypto trading? (Read 1007 times)