Is Technical analysis a must know in crypto trading? - page 6.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: Nrcewker on April 16, 2023, 09:10:33 AM

If you accumulate more knowledge be it in technical form or theoretical form, it’s no harm to a person. I mean extra knowledge is never harmful for any human in any way. I am not saying that technical analysis is not required , but without it, a person can trade also. All you need to know is basic knowledge of the coins, it’s history and at what particular time or event it’s price increases or decreases. If a person has basic knowledge on this, then definitely he can do good and profitable trades. Technical analysis help in many perspective, but it’s not always necessary.

You are right to remind that technical analysis is not all to trade but that having the knowledge is helpful and it is going to be an advantage or edge that you may need in the trade. However, regards to knowing the time that coins increase or decrease, I think probably you are referring to bitcoin because of halving that happens every four years and the expectation of a rise comes after each halving, but other coins don't have such specific or expectation like that but to rely on bitcoin bull and sometimes they don't perform as such even with bitcoin bull. The technology of some projects doesn't also become what to look at. Pump and dump coins don't rely on technical analysis or any indicator but your ability to read what is happening. Therefore apart from bitcoin, we can't conclude expectation of increase or decrease of a coin.

CarnagexD

sr. member

Activity: 1498

Merit: 374

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

Trading isn't all about technical analysis. You can also use solely fundamental analysis instead.

The point is, you cannot master the market. You can only master yourself. By establishing your own rules, own system, own decision making process, and most importantly risk management. All put together with your own psychology and there you go. You are able to profit with the market.

You can give any person a working system but still, they cannot trade it profitably. Why? Is it because of the system? The market change? NO. It is because of the trader. The operator. They lack the necessary experience and confidence to get in front of the market.

Quote from: gunhell16 on April 16, 2023, 03:27:05 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

Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency.

Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs,

Reading the chart is completely different from trading. Trading is engaging the market. Reading the chart is only knowing where it is likely to go. You can know its direction but can you trade it? Can you accept the risk? Can you take the probabilities? Can you endure losing positions before it goes to a winning position?

It's easy to win a trade. But it takes mastery and rigid rules to win consistently.

Nrcewker

copper member

Activity: 2268

Merit: 539

If you accumulate more knowledge be it in technical form or theoretical form, it’s no harm to a person. I mean extra knowledge is never harmful for any human in any way. I am not saying that technical analysis is not required , but without it, a person can trade also. All you need to know is basic knowledge of the coins, it’s history and at what particular time or event it’s price increases or decreases. If a person has basic knowledge on this, then definitely he can do good and profitable trades. Technical analysis help in many perspective, but it’s not always necessary.

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: tvplus006 on April 14, 2023, 03:40:11 PM

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

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

Of course, if you consider yourself a trader and do not have a crystal ball to predict the price, then technical analysis will be useful to you. But to trade and make a profit, it is not enough just to look at the chart, you need to understand what is happening in the market.

What is happening in the market could be seen from the TA as well, charts do share that, not just the past, but also tries to predict the future by looking at the past movements as well. That is literally what charts are all about, it looks at what happened, it searches for if that same thing happened before, if it finds any, it looks what happened after that, and then tell you "x happened, last time x happened, y happened, be ready for that" and that's what charts are all about.

I am not saying that it will be a good investment or anything like that, obviously we could have a bad result on this and could maybe face something bigger, but as long as this exists, I think reading charts and checking the indicators are a great way to trade.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

Well technically can't say its a must know because we have all sorts of trading styles and others trade with the help of expert advisors and indicators which doesnt need the extra knowledge , but if you are the hands on kind of trader I would say learn technical analysis to give yourself an edge over the market and just give yourself a winning chance.

All in all go with what works for you!

Quote from: Franctoshi on April 14, 2023, 06:50:28 AM

For me yes, Except you want to be a blind investor into Bitcoin and cryptocurrency without understanding the market.

I don't know about this, are ypu saying all investors out there know technical analysis or how to trade... I don't think so, others use financial advisors or investments managers that do this for them and factor out the risk involved etc.

Yamifoud

hero member

Activity: 2814

Merit: 518

Well, if we want to succeed and reach our goal in trading, then we have to learn many crypto trading tools and so we should have to learn TA.
It has to note that TA is one of the vital tools in trading. We don't have to do it instantly but we can learn this somehow gradually as we are in actual trading. We don't have to be perfect on TA as it was also impossible but at least having this stuff will help us a lot as to we have an idea of what we gonna do next - when to buy and when to sell.

gunhell16

hero member

Activity: 1666

Merit: 453

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

Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency.

Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs,

Huppercase

hero member

Activity: 882

Merit: 549

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

If you lack an understanding of technical analysis, why venture into trading? As a trader, technical analysis serves as your roadmap to the market, enabling you to cautiously generate profits while minimizing losses. Losses are a normal part of trading, but with the aid of stop loss and risk management, they should be kept to a minimum.

You've been around for over two years in the forum and it seems like you still haven't grasped technical analysis. Have you considered buying and holding crypto instead of trying to learn trading? It has been proven that the most straightforward way to profit in crypto is to buy, hold, and sell once you've achieved significant gains or the profit that satisfy you, you should try that isntead.

LastKiss

sr. member

Activity: 2156

Merit: 251

Binance #Smart World Global Token

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

If you're earning a good amount and comfortable with your gut and able to read the chart then just keep going, if you're looking for more knowledge to make your trading risk is lowered then technical analysis, or fundamental analysis is important when you're trading frequently. Any skills in crypto will help you earn more in the crypto space, not only in crypto when you have a lot of skills or knowledge your life will feel handy.

kamvreto

legendary

Activity: 1946

Merit: 1157

Enterapp Pre-Sale Live

Quote from: savetheFORUM on April 15, 2023, 02:24:23 PM

~snip~When it comes to cryptocurrency trading, technical analysis will probably play a vital role depending on your trading habit. If you are a long-term trader, who mostly likes to buy and hold cryptocurrencies for profit, you wouldn't really need to know a lot, but if you are a short-term trader, who trades to get profit in short periods of time, you will definitely need to learn all about technical analysis, chart reading and stuff to help you evaluate market moves more accurately.

Short-term or long-term both need to know more details about trading. Although those who trade long-term are more relaxed, they must also prepare a good strategy when the market is unpredictable. Many who initially decide to do long-term trading but end up with a cut loss, it's because they are not sure where the market will go. Or even those who trade short-term must be more careful and must be quick in determining their position. Profits are fast and risks are also higher. Large capital also determines their profits and losses.

savetheFORUM

full member

Activity: 1134

Merit: 140

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

Everyone has to go through success and failure in their lives for whatever they do or like to do, success gives us the motivation to do more while failure teaches us what we shouldn't do again in the future, so both of these are vital elements in any endeavor one may go through.

When it comes to cryptocurrency trading, technical analysis will probably play a vital role depending on your trading habit. If you are a long-term trader, who mostly likes to buy and hold cryptocurrencies for profit, you wouldn't really need to know a lot, but if you are a short-term trader, who trades to get profit in short periods of time, you will definitely need to learn all about technical analysis, chart reading and stuff to help you evaluate market moves more accurately.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

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

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

It is a way of knowing somewhat what the market might do next. But it is never 100% correct. It is a way of doing the thing, and almost all traders use it. Otherwise, you will have to rely on your own strategy and I think as the market situation changing now and then. So you will have to change or create more and more strategy based on the market condition.
That is why we choose one system which has many different options and strategy, but they fall into one system. AKA Technical Analysis. This is a system to do it in a way that could match many market situations to give you a good understanding on market.

WatChe

hero member

Activity: 994

Merit: 561

Quote from: blockman on April 14, 2023, 12:31:31 PM

In social media, you see a lot of that type of trader. They proclaim themselves as mentors to others but they don't really trade at all. They know the basics of trading and strategies with it but they don't actively trade and apply what they say.
It's because they're not profitable traders and just stayed to be like an influencer but don't really do trades at all and that's how they find the bread and butter for themselves because that seems to be an effective way for them to earn some money out of the market without doing actual trades.

You figured it out very right. Social media influencers over the time have become millionaire or billionaire by teaching there followers skills which they haven't practised. In my country there is a crypto influencer, there is no proof of what he has earned in crypto trading, but his crypto signalling group generates around 100k$ turn-over for him. To me using your own mind is best strategy as it train your mind for future trading.

AnonBitCoiner

sr. member

Activity: 1428

Merit: 326

Eloncoin.org - Mars, here we come!

Quote from: Iloveegusi on April 12, 2023, 09:31:30 PM

Can I learn myself or is important I about them from a professional?

You can learn by yourself there is no need of expert to teach you, at start there will some difficulties but with the passage of time you will understand everything. there are lots of videos on YouTube which can help you in getting knowledge so always try to watch these videos.

I will always give you suggestion that if some of your family member is engaged in crypto then surely get knowledge from him because relatives will teach you in better way. First try to know each and everything about trading and investment before going to start it because there will be difficulties in achieving task if you have lack knowledge.

blockman

hero member

Activity: 3038

Merit: 628

Vave.com - Crypto Casino

Quote from: jeraldskie11 on April 14, 2023, 07:15:37 PM

Quote from: blockman on April 14, 2023, 12:31:31 PM

In social media, you see a lot of that type of trader. They proclaim themselves as mentors to others but they don't really trade at all. They know the basics of trading and strategies with it but they don't actively trade and apply what they say.
It's because they're not profitable traders and just stayed to be like an influencer but don't really do trades at all and that's how they find the bread and butter for themselves because that seems to be an effective way for them to earn some money out of the market without doing actual trades.

Yes, it is true, particularly in our country. They abruptly vanish after receiving the money from the mentees. When the market is bullish, many will give mentorships in SocMed, but when the market is bearish, they will abruptly disappear. They cannot allow their money to survive the bear market because they are aware that they are not lucrative. So let us exercise caution when selecting a mentor. If that's the only type of mentorship we can receive, it's better to perform self-learning and then utilize the money we used to pay for the mentorship as trading capital.

That's why the impression of being bad goes to crypto because of these cons and fake influencers and traders. One day that they'll be busted with these conning actions that they've been doing. It's not always a good day for them and once they're able to have that someone that will push them to the courts for being a fake TA expert and just playing the role of it, they'll for sure going to have their own time for it. You're right, and when the bear market comes and this bull run is done, they'll be gone in the wind and will be out like a dust as if nothing has happened.

jeraldskie11

sr. member

Activity: 1316

Merit: 356

Quote from: blockman on April 14, 2023, 12:31:31 PM

Quote from: jeraldskie11 on April 13, 2023, 09:38:09 PM

Quote from: blockman on April 13, 2023, 05:30:31 PM

In social media, you see a lot of that type of trader. They proclaim themselves as mentors to others but they don't really trade at all. They know the basics of trading and strategies with it but they don't actively trade and apply what they say.
It's because they're not profitable traders and just stayed to be like an influencer but don't really do trades at all and that's how they find the bread and butter for themselves because that seems to be an effective way for them to earn some money out of the market without doing actual trades.

Yes, it is true, particularly in our country. They abruptly vanish after receiving the money from the mentees. When the market is bullish, many will give mentorships in SocMed, but when the market is bearish, they will abruptly disappear. They cannot allow their money to survive the bear market because they are aware that they are not lucrative. So let us exercise caution when selecting a mentor. If that's the only type of mentorship we can receive, it's better to perform self-learning and then utilize the money we used to pay for the mentorship as trading capital.

Unbunplease

legendary

Activity: 1806

Merit: 1159

Knowing technical analysis when trading cryptocurrencies has certain advantages and allows you to make more or less educated guesses about future price movements. But don't rely too much on technical analysis, because manipulators know this too and will try to trap you. Technical analysis must be accompanied by good luck and financial discipline.

stomachgrowls

hero member

Activity: 2982

Merit: 790

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

Even though technical analysis isnt something that precise nor give out guarantees on making or giving positive results into your trading, but having the knowledge about on making yourself that pretty aware on how to make use of these things are important rather than on having no knowledge at all on what it is.We do know that we cant just make out some positioning in regarding with our trading and just getting in without any
basis which is really a bad thing if you do have that kind of consideration. You are just simply making doing some gambling on that case. You should know on how to read up and make some technical analysis
which you would really be needing it up along the way.

Fivestar4everMVP

legendary

Activity: 2380

Merit: 1082

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

First, you are welcome to the forum, i hope you enjoy your participation in the forum discussions all through your stay here..

I didn't go through the comments to get to know what others are saying, but from my own personal experience and opinion as a partial trader, I consider knowing how to do technical analysis to be a must for every serious trader, though no knowledge of it doesn't stop you from trading normally, but for better understanding of the market and for increased chances in making profitable trades, it is very important to know how to do technical analysis of the coin or token you are trading or going to trade.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: Iloveegusi on April 12, 2023, 09:31:30 PM

Can I learn myself or is important I about them from a professional?

You can learn bitcoin on yourself by even reading about it. Learning about bitcoin is different from trading it. So if you want to trade on bitcoin then you will need the chart which can be technical analysis this is like what you trade in any other cryptocurrency. What you need the understanding here is bitcoin understanding is different from trading bitcoin. Understanding bitcoin is to know the technology and how bitcoin transaction works and trading of bitcoin is to buy or sell it, you may need technical analysis to trade

Topic: Is Technical analysis a must know in crypto trading? - page 6. (Read 1044 times)