It depends on what kind of trading you want. If you are a typical day or futures trader then technical analysis is preferred to master. There are also professional traders who don't even use technical at all because of the longer trading period and reduced psychic effects. To use fundamental analysis is sometimes more complex, which must follow the important economic calendar in the world.
Trading is risky, so to be on the safer side, we need to obtained good knowledge that will aides the smooth mapping of trading charts. Categorically, we ought to know the market season, currently is the bear season and there's sign of incoming bull in the market. Mastering both trading strategy would be difficult at first but with time, gaining some knowledge of fundamental will also do some backup help. Technical analysis is more accurate than fundamental analysis because news only comes twice in a week, specifically CPI. Unlike FOMC that do comes first week of every new month. 
Topic: Is Technical analysis a must know in crypto trading? - page 8. (Read 1007 times)
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
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 I have to answer this from your post title, is some what related to as "asking someone if he would take breakfast for the day"?
Yes of course! Anyone that woke's up in the morning needs a breakfast it could be any food. Such is TA, you can't do without Technical Analysis as long as trading is concerned in crypto trading or Forex trading, they are essential tools that guide you to a successful trading. Without you developing a passion for TA then your trading journey might not be smoother as you may think.
Reading charts is not learned from school AFAIK. People only learned it when they have the interest to learn about it or just have the motivation to make money.
It is entirely different if you are motivated and interested in learning anything. However, self-learning in trading is difficult; you will have to experience numerous losses in order to learn. Many merchants pretend to be self-taught, but the truth is that they are too arrogant to admit that they were directed or taught by someone. Consider this: we have a profitable mentor who has trained us, but it is still tough for us to be constant in the market. Self-learning is beneficial, but it is preferable if we are taught.Quote
There were success stories posted on the forum, particularly on the Forex forum where they were just following the free trading systems shared by some users. Eventually, they learned more about the indicators and how to use them to speculate the market.
AFAIK, most forex traders rely solely on price action. So it is hard for them to be profitable if all they know is an indicator . The indicator is somewhat sluggish; it simply reports on the last price movement in the market. It is rare for someone to declare that they have been profitable as a result of free trading information. So be cautious, because some people simply steal other people's success and then claim it as their own. 
Can I learn myself or is important I about them from a professional?
You can take both but I would say that having someone even though it was not a pro-trader but already have an experience in trading, will help you to easily understand trading. But of course, doing research could actually give you more ideas if ever he misses it or not mentioning it. Because the truth is that learning can't be done instantly but it is continuous. And you can build confidence if you have enough knowledge and TA is one of the vital things that you need to learn, perhaps master it if possible. 
The comments here are free, and many people seem to see them and analyze the price. Do not take these analyzes as investment advice.
As soon as these members mention information, go to Google Learn about it and try to share your information.
In a short period and within 6 months you will learn a lot and then you can develop a strategy on your own.
These boards you can search:
As soon as these members mention information, go to Google Learn about it and try to share your information.
In a short period and within 6 months you will learn a lot and then you can develop a strategy on your own.
These boards you can search:
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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
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
OP, technical analysis in trading and Bitcoin technology are two different things; I see that you are missing the two words together. When you talk about Bitcoin technology, it entails understanding all the programs and processes that make the system operate efficiently, but the technical analysis you are talking about in trade is a combination of some trading tools that make you get a good insight on price movement and also be able to predict the direction of the market at different time intervals.
So yes, it's a must to know how to use some technical trading tools and how to combine them. But that's not only what will make you a successful trader; you will also build your own trading strategy that works better for you, like the best time to trade, favorite crypto pairs to trade, when to take profits, how to manage your money, and how not to allow your emotions to influence your decisions in the crypto market.
I fully agree with this
Price it’s not the case here
Price it’s not the case here
@CryptoGodSon I think you wanted to quote the above reply. See how to quote.
It depends on what kind of trading you want. If you are a typical day or futures trader then technical analysis is preferred to master. There are also professional traders who don't even use technical at all because of the longer trading period and reduced psychic effects. To use fundamental analysis is sometimes more complex, which must follow the important economic calendar in the world.
Can I learn myself or is important I about them from a professional?
There is a lot of material you can find on the internet, everything about bitcoin, about the market, so you can become an investor, a trader. You can learn everything by yourself. You can also learn from experienced people, which will help you learn faster, but beware of online experts, as most are scams.
The cryptocurrency market is like any other industry, to make a profit requires knowledge, and that is the only way for you to succeed. If possible, you should learn them all, technical analysis, fundamental analysis...all of them will benefit you in any case.
If I was the OP I will try to focus to learn the basics on some websites with renown among traders and investors, and then learn more specific knowledge from books, as no only those books explain more in detail every single aspect of becoming a trader, but they are more realistic about the money which can be made out of the markets.
there are several people that I know who is successful in trading that does not using TA in which I believe is optional as long as you knew to read and understand what is the project you are investing .
because if you are putting money in Great project then the chance of losing is very tin, you may not earn instantly but in the long run? surely there is a positive thing to happen.
because if you are putting money in Great project then the chance of losing is very tin, you may not earn instantly but in the long run? surely there is a positive thing to happen.
Thank you...... So can you please recommend any means or method I can go about it since someone just highlighted that some are scams
Technical analysis is like a road sign for you, if you don't have a road sign when you cross a new path, then you will be lost. Relying on a gut feeling is ridiculous in trading, no gut feeling can predict it will go up or down, unless you are betting. Technical analysis is basic knowledge that absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you will not be able to do it. it is easier to lose your money if you ignore technical analysis. If you have a bad analysis, you need to continue to learn and understand gradually, trade and you will gain experience and learning over time.
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
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
The study of trading here in cryptocurrency is not easy to understand, and the application of technical analysis is also not so easy to understand. It takes time, time, and dedication for you to do well as an individual trader in this industry.
I've been studying it for several years now because I still don't understand a lot of it, but despite what I'm doing, somehow I'm still experiencing profit weekly in trading.
Not important or a must know but it can help you a lot since TA helps you to understand and recognize patterns in the market which can help you make an informed decision on what's the next step in your trading. You can't rely too much on it though as it's not really a foolproof tactic when trading, remember that crypto market is a volatile market and you can't really underestimate that volatility because it will catch you off-guard. All in all, it's up to the individual if they want to learn how to do TA or not.
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
You know how to read chart? That means you are a forex, commodity or stock trade. Those deals with price of something. Crypto also deals with price of something which are cryptocurrencies. If you use chart for those, you will also use chart for crypto analyses. But I will advice you not to go beyond bitcoin for now. Learn bitcoin price history and use the charts and indicators reading of forex for bitcoin technical analysis too. Fundamental and sentiment is also in crypto. Take note of that.Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
However, personally I feel only technical analysis is not enough for your trading. You must learn about fundamental analysis too. Because without good fundamentals, you will put your money at risk. If an asset has good fundamentals, even if your technical analysis is wrong, you can hold it (like Bitcoin) and still have chance to get profit by holding your bitcoin long enough to cover your mistake in technical analysis.
Fundamental analysis is very important, but it is not about people learning it like technical analysis, it is more about reading news, known how CPI and interest rate can affect the price of bitcoin and crypto in short term, relating exchange inflow and outflow of a coin on exchanges to possible price drop or increase, and also knowing if miners and investors are accumulating or not etc.Welcome to the forum. I think technical analysis can be a useful tool for traders to make decisions, but it's not necessarily a must-know for crypto trading.
A trader that do not know technical analysis is like a car that is travelling that has not break and accelerator.
Welcome to the forum. I think technical analysis can be a useful tool for traders to make decisions, but it's not necessarily a must-know for crypto trading. True, it can help you understand market trends and identify potential buying or selling opportunities, but I think ultimately your psychology at work is your gut feeling at work and personal experience plays a large part in your decision making. It's always good to have a thorough approach to trading and be open to learning new things. So, don't worry about breaking any rules and keep exploring the crypto market!
Can I learn myself or is important I about them from a professional?
There is a lot of material you can find on the internet, everything about bitcoin, about the market, so you can become an investor, a trader. You can learn everything by yourself. You can also learn from experienced people, which will help you learn faster, but beware of online experts, as most are scams.
The cryptocurrency market is like any other industry, to make a profit requires knowledge, and that is the only way for you to succeed. If possible, you should learn them all, technical analysis, fundamental analysis...all of them will benefit you in any case.
Technical analysis is like a road sign for you, if you don't have a road sign when you cross a new path, then you will be lost. Relying on a gut feeling is ridiculous in trading, no gut feeling can predict it will go up or down, unless you are betting. Technical analysis is basic knowledge that absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you will not be able to do it. it is easier to lose your money if you ignore technical analysis. If you have a bad analysis, you need to continue to learn and understand gradually, trade and you will gain experience and learning over time.
Reading charts is not learned from school AFAIK. People only learned it when they have the interest to learn about it or just have the motivation to make money.
Totally agreed. I've seen many ppl wanting to trade and make money because they are seeing others do it, but got no interest in TA or whatsoever. The urge to learn must come from the inside.Technical analysis is not necessary if you invest on fundamentals
AFAIK, technicals are equally important like fundamentals. We cant succeed by knowing about one but not the other. Atleast we need some basic knowledge of technicals like breakout/down patterns and candlesticks to make things easier to judge. legendary
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Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Technical analysis is not necessary if you invest on fundamentals, that is, instead of betting on whether the price is going to go up or down, what you do is inform yourself about what you are going to buy, in this case bitcoin, and when you realise that it has a great future, you buy it for a long time. Then, in TA you don't need it at all. Add to that the fact that more than 95% of traders, no matter how much TA they know, lose money.
If it's for entertainment, fine, but if you expect to make money with it, you have to know that the odds are very low.
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
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 it's a must know, but at least you should have a grasp of TA for starters.
And that's why there are holders in the bitcoin market, those individuals who doesn't want to complicate things on their end. Just going to buy thru DCA or whatever they can, and then HODL for it and then they sell during the bull run to take profits.
While on the other hands, there are individuals who actively trade in this market, and those are people who are into this technical analysis side.
Reading charts is not learned from school AFAIK. People only learned it when they have the interest to learn about it or just have the motivation to make money.
There were success stories posted on the forum, particularly on the Forex forum where they were just following the free trading systems shared by some users. Eventually, they learned more about the indicators and how to use them to speculate the market.
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