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.
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.