Is Technical analysis a must know in crypto trading? - page 3.

stomachgrowls

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Quote from: beerlover on June 03, 2023, 12:36:31 PM

Quote from: sana54210 on June 01, 2023, 12:11:30 PM

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

That is the truth, too many people make that mistake and during bull run it looks like a good idea but in reality it is as bad as it gets and should be avoided as much as possible. People are going to end up with some sort of bad result if we keep this going but the reality is that they are going to stop during bear run and call these influencers fakers and scammers, but then when the bull run comes they are going to see few of them do fine, which is normal because we all do fine during bull run, and they are going to jump right back into their arms again.

It is easy to prevent people not follow influencers during bear run, we need to figure out a way to show how influencers are faking it during the bull run as well in order to protect these newbies.

Be wary on whats happening around if we do speak about scams and frauds on which we should really be sensible at least on what in regards our actions because if we do act accordingly which is really that be based
up on what we are dealing with and of course trying out to avoid on things which you do seem odd and shady the there would be no possible problems that would be encountered. Speaking about TA, then it would really be always be that relevant because this is the common approach or the way you would really be dealing up with this market specially that it is really that truly unpredictable.

There's no way that you could be able to know on where it would be going on just simply seeing the price. If you wouldnt tend to know about TA, then how you would really be able to approach out
on trying to have that position here on this space? You cant really just fully rely with having pure guess and random decisions whether you would be buying or selling because this isnt
really how this market works nor behaves. You would really be needing that kind of approach to make yourself having that lesser risks.

beerlover

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Quote from: sana54210 on June 01, 2023, 12:11:30 PM

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

That is the truth, too many people make that mistake and during bull run it looks like a good idea but in reality it is as bad as it gets and should be avoided as much as possible. People are going to end up with some sort of bad result if we keep this going but the reality is that they are going to stop during bear run and call these influencers fakers and scammers, but then when the bull run comes they are going to see few of them do fine, which is normal because we all do fine during bull run, and they are going to jump right back into their arms again.

It is easy to prevent people not follow influencers during bear run, we need to figure out a way to show how influencers are faking it during the bull run as well in order to protect these newbies.

doomloop

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Quote from: palle11 on May 31, 2023, 08:28:17 AM

Quote from: LastKiss on May 11, 2023, 05:47:56 PM

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis.

If you don't learn the strategy to trading then how can you know if you are copying the right trade or wrong trade? Copy trading is the reason some people assume trading to be the same thing as gambling because they only rely on the success of what they have copied from even unknown source instead of taking time to study and learn the market rudiment which is technical analysis. It is important that a trader learn that even though some rely on just fundamental but which ever way it better to have one of them as a trading strategy.

There is basically no need for someone to copy someone else's trades if they learn to do the analysis themselves, doing technical and fundamental analysis will give you an idea of the market and its movements so that you can place your trades accordingly, and someone who copies trades from others is basically trading illiterate and doesn't know how things work in the first place.

Just like you, I'm also not in favor of copying someone else's trades or following signals provided by someone either free or by charging money, you will have way more confidence if you are doing your trades on your own instead of copying someone else.

lalabotax

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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

Findingnemo

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No.

But if you're planning to become a trader then acquiring knowledge about it can be helpful in case if you need. To learn this you can just start with YouTube and practice what you saw in demo trading accounts and if increases your consistency then just keep learning and become a master at it.

sana54210

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Quote from: Franctoshi on May 31, 2023, 10:14:38 AM

Literally, there's nothing much anyone that calls himself or herself an investor/trader can do in this crypto industry without either having the knowledge of fundamental or technical analysis side of trading, if not both, whether you are a long term, mid term or short term Bitcoin/crypto holder or investor you need this basic knowledge because I wonder how you would succeed here as an investor/trader without the knowledge, except for the fact that you hire or employ market analysts which will also cause you some money to do so.
Literally you need to know when you should enter or exit the market without relying on someone else's analysis and to tell you what to do.

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

panganib999

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Not really that integral if you’ll ask me. Technical Analysis to me is more of glorified predictions and less a surefire way to reap profits in trading. It basically just helps you create better predictions than not having it, and in the world of cryptocurrency industry where everything is as degen as it gets it doesn’t really hold that much weight cause every bloke with a bag of money could just buy and bloat a coin’s value like it’s nobody’s business. As with what happened to $PEPE. In my opinion, your sights should be set on other disciplines in the trading world like timing your buys and sells, diversifying your portfolio with coins that hold long-term relevance, as well as other IRL disciplines like self-control and avoiding FOMO. That’s where the real money is at.

AakZaki

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Quote from: Franctoshi on May 31, 2023, 10:14:38 AM

Literally, there's nothing much anyone that calls himself or herself an investor/trader can do in this crypto industry without either having the knowledge of fundamental or technical analysis side of trading, if not both, whether you are a long term, mid term or short term Bitcoin/crypto holder or investor you need this basic knowledge because I wonder how you would succeed here as an investor/trader without the knowledge, except for the fact that you hire or employ market analysts which will also cause you some money to do so.
Literally you need to know when you should enter or exit the market without relying on someone else's analysis and to tell you what to do.

Basic knowledge of investment and trading is certainly very necessary. Without this knowledge, you will not be able to determine when to enter and when to leave. A newbie who is just getting into crypto trading is still groping about what he should do because he doesn't have the basics. If you only employ market analysts, you have to spend more money or follow other people's suggestions on Twitter or other social media. it will be more dangerous, because it is not recommended. Several cases show that most other people's suggestions are traps.

carlfebz2

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Quote from: Franctoshi on May 31, 2023, 10:14:38 AM

Quote from: palle11 on May 31, 2023, 08:28:17 AM

Quote from: LastKiss on May 11, 2023, 05:47:56 PM

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis.

If you don't learn the strategy to trading then how can you know if you are copying the right trade or wrong trade? Copy trading is the reason some people assume trading to be the same thing as gambling because they only rely on the success of what they have copied from even unknown source instead of taking time to study and learn the market rudiment which is technical analysis.
It is important that a trader learn that even though some rely on just fundamental but which ever way it better to have one of them as a trading strategy.

Literally, there's nothing much anyone that calls himself or herself an investor/trader can do in this crypto industry without either having the knowledge of fundamental or technical analysis side of trading, if not both, whether you are a long term, mid term or short term Bitcoin/crypto holder or investor you need this basic knowledge because I wonder how you would succeed here as an investor/trader without the knowledge, except for the fact that you hire or employ market analysts which will also cause you some money to do so.
Literally you need to know when you should enter or exit the market without relying on someone else's analysis and to tell you what to do.

You would really be normally be finding out those realizations along the way. You cant just dive in into this market without having those basic knowledge in between TA and FA which we know that it would really

be that having with relevant approach on knowing these things.This would really be helping you out on how to handle yourself with this unpredictable space on which price isnt something that it precisely
been influenced with external factors. Even though TA+FA wont really be that a precise tool but at least you do have something that been using rather than on putting up your position blindly which we
know that this is something that can be called as gambling.This isnt the right way for you to deal up with this space without having those preparations.

This is why in regarding on the question about being a must thing- Then its definitely a must thing to consider.Dealing up with this space without having these things could really lead you nowhere.
Better to have a good approach on making or having the knowledge which it would really be relevant on what you are currently dealing with.

Franctoshi

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Quote from: palle11 on May 31, 2023, 08:28:17 AM

Quote from: LastKiss on May 11, 2023, 05:47:56 PM

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis.

If you don't learn the strategy to trading then how can you know if you are copying the right trade or wrong trade? Copy trading is the reason some people assume trading to be the same thing as gambling because they only rely on the success of what they have copied from even unknown source instead of taking time to study and learn the market rudiment which is technical analysis.
It is important that a trader learn that even though some rely on just fundamental but which ever way it better to have one of them as a trading strategy.

Literally, there's nothing much anyone that calls himself or herself an investor/trader can do in this crypto industry without either having the knowledge of fundamental or technical analysis side of trading, if not both, whether you are a long term, mid term or short term Bitcoin/crypto holder or investor you need this basic knowledge because I wonder how you would succeed here as an investor/trader without the knowledge, except for the fact that you hire or employ market analysts which will also cause you some money to do so.
Literally you need to know when you should enter or exit the market without relying on someone else's analysis and to tell you what to do.

palle11

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Quote from: LastKiss on May 11, 2023, 05:47:56 PM

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis.

If you don't learn the strategy to trading then how can you know if you are copying the right trade or wrong trade? Copy trading is the reason some people assume trading to be the same thing as gambling because they only rely on the success of what they have copied from even unknown source instead of taking time to study and learn the market rudiment which is technical analysis. It is important that a trader learn that even though some rely on just fundamental but which ever way it better to have one of them as a trading strategy.

Timmzzy

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We dont just have that alone in the foundation of trading any financial MARKETS be it crypto,forex, and stocks. we have sentimental analysis, fundamental analysis as well but with all of these they are just 10% confluence to trading. The most of it all is RISK MANAGEMENT. having a good risk management gives u and edge to technical analysis in any situation, and you most learn to control emotions and have patience.

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Quote from: MIner1448 on May 11, 2023, 02:48:44 PM

If you use technical analysis, then it can help you make more informed trading decisions based on the analysis of price charts and other data. Technical analysis can help you determine price direction, support and resistance levels, and when to buy and sell.
However, if you prefer fundamental analysis, then technical analysis may not be that important to you. Fundamental analysis focuses on factors that affect the market, such as company news, events, and financial statements, and can help you determine which assets may be overvalued or undervalued.

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis. Well, learning won't be easy at first but if we have that knowledge our trading results definitely different rather than not using it.

Fatunad

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Quote from: bitgolden on April 22, 2023, 03:04:43 PM

Quote from: savetheFORUM on April 20, 2023, 01:54:14 AM

Quote from: wxa7115 on April 19, 2023, 03:36:19 AM

The optimal path is to learn from someone else, as they can protect you from making a great deal of mistakes which end up costing newbies a massive amount of money.

However finding such a person is incredibly difficult, to begin with you will need someone close to you to be an expert trader, and if that was not difficult enough you will also need for that person to be willing to teach you, which is not common at all as people remember very well how much it cost them to acquire the knowledge they have and they are not willing to part with it for free.

It's obviously difficult to find someone who is willing to teach you all the tips and tricks and the special technical techniques without charging you a dime. In a world like today where people open free groups to teach people trading or give trading signals only to promote their premium groups where people will need to pay money to get so-called VIP signals.

So it's probably better if someone takes the oath to learn everything by themselves by watching videos or reading articles or other resources if they can't afford to pay the fees charged by the mentors.

I did that, I mean I didn't do the teaching, I did the learning part. I met with a friend via crypto, and he helped me learn about it all. I hate learning from videos or from texts, because I can never learn anything about it. But when it comes down to learning from someone? Like actually being able to ask questions to that person when you do not understand something, that is a totally different situation.

With text or video there is no return, I may not understand something and all I can do is read it again or watch it again, but when there is another person then you can ask the question and they will answer you properly, or find another angle to help you. This is why learning from someone is much better if you trust they are actually good.

We know that not all the time we do have a friend that knows about trading and if theres one then there's no assurance that they would really be teaching you from top until into the bottom or surely does have the intent on teaching you everything and we know that it does really require that ample time and effort them to teach up someone who doesnt really have that idea on what really it is.Yes it is true that on the time that you would really be having some questions then if you do have someone who you could asks to then it would be good to have those kind of realtime interaction whereas you do compare it out when you do learn on your own but we know that not all we do have a friend like that. This is why we dont really have other options but to learn on our own since everything could really be found or searched up on internet and the rest of the learning would really getting from real experience and this is where it would vary whether you would really be handling yourself well or not.

Technical analysis learning is really that needed or really that crucial when it comes to trading because we know that this market isnt really always having the news or fundamental which we could really depend on.
This is why it is really that crucial or needed.

MIner1448

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If you use technical analysis, then it can help you make more informed trading decisions based on the analysis of price charts and other data. Technical analysis can help you determine price direction, support and resistance levels, and when to buy and sell.
However, if you prefer fundamental analysis, then technical analysis may not be that important to you. Fundamental analysis focuses on factors that affect the market, such as company news, events, and financial statements, and can help you determine which assets may be overvalued or undervalued.

Fatunad

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Quote from: Bushdark on May 01, 2023, 12:53:25 PM

Quote from: Litzki1990 on May 01, 2023, 10:17:56 AM

Technical analysis is not required for trading, only certain ideas and experience related to trading can be achieved in trading. Different people usually have different ideas and experiences about trading. There is no specific way to learn about trading. That is, we usually study as different professions, ie for studying doctor and engineering, we have to study a specific subject, in the case of trading, there is no such specific subject. Trading is a specific platform but there are different ways to learn about it and gain experience, usually trading in the way that is easier for them.

We may think that technical analysis is not required to trade in the Cryptocurrency market because most time the market is mostly based on pump and down which is most majority of the whales in the market does to make severe profits from the market.
Technical analysis is a most for a trader to trade the cryptocurrency market apart from so many numerous group that indulge in pump and dump making some investors think that the coin is moving very well.

We need to know that cryptocurrency market is mostly manipulated by the whales that have large token portfolio in the market. Thusnhas made many traders think that having a good knowledge in technical analysis is not needed. We need to know what we are doing so that we can be able to make the right decisions.

You cant really be that ending up on being that profitable nor sustaining on this market if you do have this kind of approach on which you are really that making yourself on being a gambler because you do believe that
trading is really just that up and down thing but it doesnt really look that way on which it would really be just that right that you should really be that mindful about on how to sustain yourself on trading.
This isnt something like that you could deal with up easily which you could just simply position yourself without any basis. TA + FA is really that relevant for you to learn because
if you dont then what are the things that you've been using? Pure guess or speculation? This isnt how to deal up with this market.

Dealing up with an unpredictable market should really be taken seriously and not really just like on having that kind of behavior on just like when you do play gambling. This isnt the right approach
because if you do come into this kind of point then we do have that kind of assumptions on what would be the results.

Josefjix

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yes

Quote from: Litzki1990 on May 01, 2023, 10:17:56 AM

Technical analysis is not required for trading, only certain ideas and experience related to trading can be achieved in trading. Different people usually have different ideas and experiences about trading. There is no specific way to learn about trading. That is, we usually study as different professions, ie for studying doctor and engineering, we have to study a specific subject, in the case of trading, there is no such specific subject. Trading is a specific platform but there are different ways to learn about it and gain experience, usually trading in the way that is easier for them.

Understand and the operations of the market, definitely profits will be the orders of the day. In cryptocurrency, there are two basic types of trading strategies: technical and fundamental analysis, the latter of which is only triggered by chart analysis. We learn most of the fundamentals and technicals of trading step by step, they're bulky and learning never stops, regardless of how long you've been in this field. Technical analysis is a difficult trading approach that must be studied. The majority of trading charts are formed using technical analysis, which aids in learning how to read a chart and place appropriate trades.

Bushdark

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Quote from: Litzki1990 on May 01, 2023, 10:17:56 AM

Technical analysis is not required for trading, only certain ideas and experience related to trading can be achieved in trading. Different people usually have different ideas and experiences about trading. There is no specific way to learn about trading. That is, we usually study as different professions, ie for studying doctor and engineering, we have to study a specific subject, in the case of trading, there is no such specific subject. Trading is a specific platform but there are different ways to learn about it and gain experience, usually trading in the way that is easier for them.

We may think that technical analysis is not required to trade in the Cryptocurrency market because most time the market is mostly based on pump and down which is most majority of the whales in the market does to make severe profits from the market.
Technical analysis is a most for a trader to trade the cryptocurrency market apart from so many numerous group that indulge in pump and dump making some investors think that the coin is moving very well.

We need to know that cryptocurrency market is mostly manipulated by the whales that have large token portfolio in the market. Thusnhas made many traders think that having a good knowledge in technical analysis is not needed. We need to know what we are doing so that we can be able to make the right decisions.

Franctoshi

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Quote from: Iloveegusi on April 12, 2023, 07:14:01 PM

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

You are on the right track, as for me it is necessary you have the knowledge about technical analysis as a trader as well as an investor before starting trading or investing, as it gives you an edge over knowing what to do at any given time, basically when to buy and sell in the market.

Quote from: CryptoGodSon on April 12, 2023, 08:26:42 PM

No Technical Analysis its not the most important thing in crypto space.

Try to read chart in 1hour chart on TradingView and learn about candlesticks, then if u think ur good at it try to combine it with Ema 200 and RSI index and Stochastic RSI.
Try to guess whats price its gonna be after 4hours.

Lolz, when reading Charts, learning about candle sticks as you've mentioned and using RSI index and Stochastic RSI indicators, what do you think you are doing?, Simply technically analysing the market because those tools are Technical indicators meant for technical analysis, As technical analysis involves market analysis using Chart patterns, indicators and historical data to analyze the market.

Litzki1990

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Technical analysis is not required for trading, only certain ideas and experience related to trading can be achieved in trading. Different people usually have different ideas and experiences about trading. There is no specific way to learn about trading. That is, we usually study as different professions, ie for studying doctor and engineering, we have to study a specific subject, in the case of trading, there is no such specific subject. Trading is a specific platform but there are different ways to learn about it and gain experience, usually trading in the way that is easier for them.

Topic: Is Technical analysis a must know in crypto trading? - page 3. (Read 1094 times)