Is Technical analysis a must know in crypto trading? - page 2.

Pamadar

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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

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

And the hardest to read up is on the time that it do make out some consolidation or sideways movement period on which it is really that very hard to tell on where it would be going next. This is where technical

analysis would really kick and be useful on which you could really be able to make out some charting and using up with those technical indicators on which it would really be giving off some hint on how the market
is behaving and showing off some potential next movement but of course this isnt something that you could really be able to precisely predict on where it would be going.
This is why it would really be that important that you should really be at least aware of the risks but since you would really be making out some strategies then this is
what matter the most and not just making any step without any considerations or analysis which its a pure gamble.

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.

Hamphser

sr. member

Activity: 2506

Merit: 328

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

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

And the hardest to read up is on the time that it do make out some consolidation or sideways movement period on which it is really that very hard to tell on where it would be going next. This is where technical

analysis would really kick and be useful on which you could really be able to make out some charting and using up with those technical indicators on which it would really be giving off some hint on how the market
is behaving and showing off some potential next movement but of course this isnt something that you could really be able to precisely predict on where it would be going.
This is why it would really be that important that you should really be at least aware of the risks but since you would really be making out some strategies then this is
what matter the most and not just making any step without any considerations or analysis which its a pure gamble.

doomloop

hero member

Activity: 2268

Merit: 581

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

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

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

nlovric

full member

Activity: 336

Merit: 140

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.

Absolutely, it is important to start your trading career with a strong foundation and you are right that technical and fundamental research constitute the cornerstone of a trader's knowledge. A slow process that calls for commitment and ongoing learning is taking the time to learn from reliable sources and gaining the tools required for autonomous trading. As time is of the utmost in the fast paced world of trading it is imperative that you do not hesitate or put off making a decision. Understanding the fundamentals of trading is essential whether you are a novice or a seasoned trader. It is admirable that you have already been accustomed to these fundamental trading techniques as they offer a solid foundation for making wise choices. Keep in mind that trading is a difficult journey but by remaining dedicated to studying and applying these tactics you are positioning yourself for success in the thrilling world of trading.

Strongkored

legendary

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Leading Crypto Sports Betting & Casino Platform

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 for trading is important and all trading knowledge for trading is important because as a trader if it is done without adequate knowledge it will only make him lose more because it is like gambling but maybe it will be a little different in Bitcoin because traders who believe in Bitcoin fundamentals prefer to make it an investment by directly buying or doing a DCA system and only selling it after a long period of holding, and in my opinion, it doesn't require analysis only you need to make a target when to sell it that's all, but if it is daily trading then technical or other knowledge is important for understanding.

jrrsparkles

sr. member

Activity: 2422

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Eloncoin.org - Mars, here we come!

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.

Pamadar

legendary

Activity: 2982

Merit: 1028

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

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

RajeshKarwa

jr. member

Activity: 153

Merit: 3

In trading, technical analysis is very important but is not flawless. It should be utilised with fundamental analysis and risk management measures. Many traders utilise technical analysis to make educated judgements about whether to purchase or sell assets.

TA entails analyzing previous price and volume data to detect patterns, trends, and probable future price changes. It allows traders to evaluate market mood, support and resistance levels, entry and exit positions, and other factors.

Thanks !!

awik p

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Pepemo.vip

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

omgitsmehehe

full member

Activity: 580

Merit: 108

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.

Bushdark

sr. member

Activity: 854

Merit: 262

Eloncoin.org - Mars, here we come!

Quote from: Coinworld.story on June 11, 2023, 07:23:58 AM

Technical analysis is like a road sign for you, if you don't have a traffic sign when crossing a new lane, then you will get lost. Relying on hunches is ridiculous in trading, no gut feeling can predict it will go up or down. It's the same as playing gambling.

At least you have to have technical analysis even though it's basic, because it absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you won't be able to do it. it is easier to lose your money if you neglect technical analysis. If you have bad analysis you need to keep learning and understanding gradually, trade and you will gain experience and learning over time.

There is no way we want to become a trader without know technical analysis because it anchors those things we are going to be seeing in the market chart just like the candle stick, graphs, indicators and other tools that are necessarily to be use as a trader. All traders need to have good ideas about the technical analysis or else lose focus that will not be adequate for one to trade the market and make profits. Those of the mighty and pro traders we are seeing in the market, they learn trading to the core especially the technical analysis that is used mostly in trading as an important tools.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: CapGelatik on June 05, 2023, 04:20:23 AM

Quote from: Fivestar4everMVP on June 03, 2023, 06:10:32 PM

Quote from: AmoreJaz on June 03, 2023, 05:51:25 PM

Quote from: lalabotax on June 01, 2023, 05:57:57 PM

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

it is very important for us to learn technical analysis especially in crypto currency which has high volatility,
before I knew and studied technical analysis I clearly only followed Fomo and the results I could not make a difference in my life,
and since I studied technical analysis I am grateful I can changed my life even I made a business in the real world.

Having no knowledge about technical analysis is something that it isnt really that that complete because you cant just rely with news or fundamentals forever since we know that not all the time on

which this market do really have those news on which you would really be needing to have that technical approach which is something that you would be realizing on how its relevant.
Of course you would really be needing to know on how to make use of it and how to make out analysis out of it.Although it might not really that something you could really rely on
because precision is never been known but somewhat it is really that relevant for you to have this kind of approach on things because price is way too unpredictable and there's
no way that we could tell on where it would be going.

Doesnt matter whether you do use TA or FA only or having both combinations as long if you do see this to be beneficial then it would really be your call on what you would gonna use.

Coinworld.story

jr. member

Activity: 32

Merit: 1

Technical analysis is like a road sign for you, if you don't have a traffic sign when crossing a new lane, then you will get lost. Relying on hunches is ridiculous in trading, no gut feeling can predict it will go up or down. It's the same as playing gambling.

At least you have to have technical analysis even though it's basic, because it absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you won't be able to do it. it is easier to lose your money if you neglect technical analysis. If you have bad analysis you need to keep learning and understanding gradually, trade and you will gain experience and learning over time.

ZAINmalik75

hero member

Activity: 1218

Merit: 595

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

P.S I have really poor knowledge so I hope am not breaking any of the rules posting here.

No woory as you are not breaking any rule also you are at right place where you will get legit answer from experienced old member.

Quote

Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

No doubt it's important because Cryptocurrency are high volatile and it's just like indicator which will help you for better Understanding of underlying trends ,patterns and also help you to make more informed decisions during trade of buy and sell.
But some time due to wrong or weak technical analysis mostly trader done lose so to avoid such kind of loss you should go for buying coins on the basis of fundemental Analysis as there are less less risk like Bitcoin but the term is you should hold it for long term..
But for better understanding of Technical Analysis you should visit here

CapGelatik

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Combo Network

Quote from: Fivestar4everMVP on June 03, 2023, 06:10:32 PM

Quote from: AmoreJaz on June 03, 2023, 05:51:25 PM

Quote from: lalabotax on June 01, 2023, 05:57:57 PM

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

it is very important for us to learn technical analysis especially in crypto currency which has high volatility,
before I knew and studied technical analysis I clearly only followed Fomo and the results I could not make a difference in my life,
and since I studied technical analysis I am grateful I can changed my life even I made a business in the real world.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: AmoreJaz on June 03, 2023, 05:51:25 PM

Quote from: lalabotax on June 01, 2023, 05:57:57 PM

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.
i am also guessing that most old timers here started to trade without knowing any TAs, and then, just learned some later on in their trading journey. or better yet, some don't need TAs as they are using the knowledge what they acquired throughout the years.

Most of the time experienced really teaches us to find ways to gain more knowledge and to continue our journey inside trading.

I see your point and it's undeniable that there are traders who at first they just place their position without knowing TAs
they might win some position and lose some till they learn more and seek for possibility to learn how to anticipate better,
if you really wanted to succeed, you needed to exceed in finding the right ways to invest and execute your trade.

ancafe

hero member

Activity: 1652

Merit: 702

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.

That means you have been on forum for quite a long time and should have had a lot of experience or could say that by now the standard of daily trading or long term investing has brought you to a conclusion.

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

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

From your whole story I don't think you are suitable for day trading because for day trading you need sharp analysis to read market movements and even though people can learn to know how. But you have been on the forum for almost two years and should have quite a bit of trading experience, so I conclude that you are better suited to be involved in a long term investment in bitcoin.

For daily trading in my opinion teknis analysis and fundamental analysis are important so that you can reduce the risk impact of the trades you run. When you place the standard of long term investing an understanding of technical analysis is not that important because all you need is to be calm when the market goes into a sharp downturn especially the investment you are making in bitcoin.

Mauser

hero member

Activity: 1694

Merit: 516

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

I don't think that knowledge of technical analysis is mandatory for every trader. It can help a lot if we know about it, as it helps with identifying trends and decision making. But if we have no experience with, there are still other ways to analyse the market. One way is to trade on gut feelings, which is not a good idea. I would advice against making investment decisions based on emotions. There are basically 3 ways for traders to make their decisions, based on technical analysis, guessing or fundamentals. Especially for more long term focused traders it can be helpful to use mostly fundamentals for their decisions. As a more short term orientated trader I would definitely recommend you start looking into technical analysis. There are plenty of good books out there for beginners that can teach you a few easy to use indicators.

Fivestar4everMVP

legendary

Activity: 2254

Merit: 1052

Leading Crypto Sports Betting & Casino Platform

Quote from: AmoreJaz on June 03, 2023, 05:51:25 PM

Quote from: lalabotax on June 01, 2023, 05:57:57 PM

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

AmoreJaz

legendary

Activity: 3066

Merit: 1101

Leading Crypto Sports Betting & Casino Platform

Quote from: lalabotax on June 01, 2023, 05:57:57 PM

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.
i am also guessing that most old timers here started to trade without knowing any TAs, and then, just learned some later on in their trading journey. or better yet, some don't need TAs as they are using the knowledge what they acquired throughout the years.

Topic: Is Technical analysis a must know in crypto trading? - page 2. (Read 1007 times)