What are the steps in understanding technical analysis?

Lanatsa

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Quote from: tygeade on July 24, 2023, 09:56:30 AM

Quote from: justdimin on July 23, 2023, 04:11:39 AM

Quote from: Peanutswar on July 21, 2023, 08:33:23 AM

There's a lot of sources right there in the internet you can take video courses like fundamentals and technical analysis there are some posts in social media offering a book that you could read related how to manage your money with trading properly, just use the internet in just a second you can now get the information you want to. Some people offer their services like boot camps (personally I'm not a fan of it ideal to learn by yourself), somehow there's a different story that they succeed in life but some others don't. Take time to learn and take it slowly not as always there's a shortcut like here in trading you need experience, patience and knowledge with your trades.

This is the right approach but you need to be careful about it because if you are not then you are going to end up losing a lot of money on it as well. Unfortunately there are a lot of people who still do not know how to make money and how to study, if they find something very cheap and terrible and study from there then they are not going to learn most stuff.

I do not know if there is a consensus on which website or video that is the best on teaching these stuff but it should be very important to make sure that you end up studying at the right place. If not, then you are going into the war with no shield, against people with swords and axes and shields, which will make you more vulnerable and you are going to lose out most probably.

Studying from wrong sources could make you lose a lot of money as well, I can't really specifically say something about which ones are the best ones because I do not want to suggest something and then it turns out not a good one and all that, I rather not take that headache right now in my life. But at the end of the day, we are talking about something that would be easy to find online and you could ask people around if it's a good one or not.

If you pick a bad source, then even if they do what you guys are saying, which is study and learn, then they are going to still lose a lot of money. I hope that it doesn't get to that point and we get to see the situation a lot better for newbies. We need a very famous website for something like this.

Would really be that depending on you because lots of methods and indicators that we do really have which is available. There's no shortcut when it comes to this on which on every thing that you do encounter
or would be able to learn is something that you would really be needing up to absorb and would really be realizing on what would be their usage and their relevance. Technical analysis is something that might that
not precise but on the time that you would really be needing these things because not all the time the market would really be having news and events if you are really that aiming for fundamentals.

How to learn? Everything is really that available for you to learn and its been provided. It would really be just depending on how you would really be learning those things.
It would be hard but its not something that impossible for you not to learn because each of those tools does have specific usage. It would really be
that depending on how you would be making that trial and error on every technicals that you would be using.

tygeade

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Quote from: justdimin on July 23, 2023, 04:11:39 AM

Quote from: Peanutswar on July 21, 2023, 08:33:23 AM

There's a lot of sources right there in the internet you can take video courses like fundamentals and technical analysis there are some posts in social media offering a book that you could read related how to manage your money with trading properly, just use the internet in just a second you can now get the information you want to. Some people offer their services like boot camps (personally I'm not a fan of it ideal to learn by yourself), somehow there's a different story that they succeed in life but some others don't. Take time to learn and take it slowly not as always there's a shortcut like here in trading you need experience, patience and knowledge with your trades.

This is the right approach but you need to be careful about it because if you are not then you are going to end up losing a lot of money on it as well. Unfortunately there are a lot of people who still do not know how to make money and how to study, if they find something very cheap and terrible and study from there then they are not going to learn most stuff.

I do not know if there is a consensus on which website or video that is the best on teaching these stuff but it should be very important to make sure that you end up studying at the right place. If not, then you are going into the war with no shield, against people with swords and axes and shields, which will make you more vulnerable and you are going to lose out most probably.

Studying from wrong sources could make you lose a lot of money as well, I can't really specifically say something about which ones are the best ones because I do not want to suggest something and then it turns out not a good one and all that, I rather not take that headache right now in my life. But at the end of the day, we are talking about something that would be easy to find online and you could ask people around if it's a good one or not.

If you pick a bad source, then even if they do what you guys are saying, which is study and learn, then they are going to still lose a lot of money. I hope that it doesn't get to that point and we get to see the situation a lot better for newbies. We need a very famous website for something like this.

justdimin

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Quote from: Peanutswar on July 21, 2023, 08:33:23 AM

Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There's a lot of sources right there in the internet you can take video courses like fundamentals and technical analysis there are some posts in social media offering a book that you could read related how to manage your money with trading properly, just use the internet in just a second you can now get the information you want to. Some people offer their services like boot camps (personally I'm not a fan of it ideal to learn by yourself), somehow there's a different story that they succeed in life but some others don't. Take time to learn and take it slowly not as always there's a shortcut like here in trading you need experience, patience and knowledge with your trades.

This is the right approach but you need to be careful about it because if you are not then you are going to end up losing a lot of money on it as well. Unfortunately there are a lot of people who still do not know how to make money and how to study, if they find something very cheap and terrible and study from there then they are not going to learn most stuff.

I do not know if there is a consensus on which website or video that is the best on teaching these stuff but it should be very important to make sure that you end up studying at the right place. If not, then you are going into the war with no shield, against people with swords and axes and shields, which will make you more vulnerable and you are going to lose out most probably.

Nrcewker

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Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

YouTube will be the perfect place to see real time example for the above things that you have mentioned. They will show you practically and will teach you in a efficient manner. I don’t want to recommend or promote any video, as I am sure finding such a video won’t be difficult. Moreover if you are a newbie I would suggest not to dive into so deep at start. Just analyse and gather information from your own and at last trade with caution. The more you can avoid losses, the more profit you will get in future.

palle11

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Quote from: bittraffic on July 21, 2023, 11:50:48 AM

Its best if you make it simple and not learn the concept along with BTC. Just read it all in FOREX market trading analysis as they have more tutorials and details of how indicators work.
Not to worry since indicators in forex nor stock market still works the same in crypto market.

Once you established your knowledge in how the economy works and what moves the prices, its when to go buy (long) and when to sell (short) with the help of indicators. And then you can come back to crypto, its all the same the difference in futures trading in crypto is taking a loan from the exchange seem literal.

This is a good suggestion and I agree with it. I think people who want to trade crypto market should first understand how forex trading works and with that training they could either combine it with crypto, stock etc. Forex market is more robust and understanding and the indicators used in cryptocurrency trading are default indicators of forex and stock trading because cryptocurrency is relatively new to the ones mentioned above. Therefore, to have a grasp of these indicators from forex trade will be an edge to a crypto trader . They are same indicators, same parameters, usage etc like RSI in forex is RSI in cryptocurrency, same as MA etc.

DoublerHunter

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Quote from: molsewid on July 21, 2023, 04:37:50 PM

Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There's a lot of books and YouTube videos that might help. You can now enjoy watching chargs because e it is very hard to understand at first try you may encounter losses that maybe for streak but then just a little bit more of patience learning to read is a daily advantage. It is really hard when you try to start learning at first, but if that website has free coins or rounds each day maybe use that instead of using real money right away.

^ There are indeed plenty of books and YouTube videos available that can be valuable resources for learning about crypto trading and technical analysis. Also, watching charts and interpreting market movements can be challenging at first, and losses are not uncommon, especially for beginners. However, patience and continuous learning are key to improving your understanding and skills. It is very important to remember that to learn trading with a long-term perspective and not get discouraged by initial setbacks.
I think it is also useful when using demo accounts or platforms that offer free coins or rounds each day can be a great way to practice and gain experience without risking real money. This could allow you to familiarize yourself with the trading process and try out different strategies until you feel more confident in your abilities.

molsewid

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Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There's a lot of books and YouTube videos that might help. You can now enjoy watching chargs because e it is very hard to understand at first try you may encounter losses that maybe for streak but then just a little bit more of patience learning to read is a daily advantage. It is really hard when you try to start learning at first, but if that website has free coins or rounds each day maybe use that instead of using real money right away.

Mr.right85

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Quote from: bittraffic on July 21, 2023, 11:50:48 AM

Its best if you make it simple and not learn the concept along with BTC. Just read it all in FOREX market trading analysis as they have more tutorials and details of how indicators work.
Not to worry since indicators in forex nor stock market still works the same in crypto market.

Once you established your knowledge in how the economy works and what moves the prices, its when to go buy (long) and when to sell (short) with the help of indicators. And then you can come back to crypto, its all the same the difference in futures trading in crypto is taking a loan from the exchange seem literal.

That could work with regards to understanding the indicators or various technical analytical tools themselves but not so much when it comes to training the market. Different constraints moves the forex and bitcoin market.
For forex market, we can find fundamental analysis analysis playing such huge rope in altering the trend of a trade as news has obvious effects on the price action in the charts but, when it comes to the crypto market,
The market movers is undetermined and that makes news less effective as we can see in forex which means, trying to trade them the same way may not apply effectively.

bittraffic

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Its best if you make it simple and not learn the concept along with BTC. Just read it all in FOREX market trading analysis as they have more tutorials and details of how indicators work.
Not to worry since indicators in forex nor stock market still works the same in crypto market.

Once you established your knowledge in how the economy works and what moves the prices, its when to go buy (long) and when to sell (short) with the help of indicators. And then you can come back to crypto, its all the same the difference in futures trading in crypto is taking a loan from the exchange seem literal.

gabbie2010

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Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

Welcome to the World of crypto trading of course you have to be aware that crypto trading is a very risky venture and to scale through it will take a lot of sacrifices and personal efforts to become profitable that is if you are trading with a high leverage which isn't advisable for a newbie. Technical analysis includes how indicators works studying each of those indicators and how they work with the price, however bear in mind that majority of those indicators are lagging thus you shouldn't rely mostly on them before taking a trading decision, moreso studying the Price Action of candlestick is also an indicator infact it's the best in technical analysis, exhausted candlestick patterns is an indication of likely price reversal and many more of this can be found on YouTube endeavor to learn.

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Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There's a lot of sources right there in the internet you can take video courses like fundamentals and technical analysis there are some posts in social media offering a book that you could read related how to manage your money with trading properly, just use the internet in just a second you can now get the information you want to. Some people offer their services like boot camps (personally I'm not a fan of it ideal to learn by yourself), somehow there's a different story that they succeed in life but some others don't. Take time to learn and take it slowly not as always there's a shortcut like here in trading you need experience, patience and knowledge with your trades.

JasGrady

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Learn the basics, study different chart types and take screenshots lastly preactise risk management.

SquirrelJulietGarden

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Quote from: Stepstowealth on July 03, 2023, 03:24:13 PM

I am not a professional trader yet, but I think that as traders try to pay attention to becoming better in technical analysis, some attention also need to be given to becoming better in fundamental analysis too. A trader who knows both technical analysis and fundamental analysis well will be a very good trader with little errors to correct to make them close to perfect.

Before you start with technical analysis, you must finish your fundamental analysis. Without that step, your technical analysis can be very useless if you are analyzing a scam project with likely a rug pull anytime. Technical analysis only works with non scam projects and with high trading volume because there will be not black swan event, rug pull and with high trading volume, it will be harder to manipulate.

The total marketcap of this market is very small if you compare it to traditional markets which have bigger trading volume, marketcap and longer history. So even biggest cryptocurrencies in this market are still easy to manipulate.

It is where on-chain analysis can help you.

Quote

To keep up with fundamental analysis, you need to be very up to date, and be able to determine if a news has a big economic impact or not, because not every news or event is relevant.

Reading news, stay updated with news are for day traders and technical analysis, not for investors and fundamentals.

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Quote from: pakhitheboss on June 20, 2023, 12:55:59 AM

Fundamental Analysis - Tacking news, regulatory changes, and technological developments fall under it.

I am not a professional trader yet, but I think that as traders try to pay attention to becoming better in technical analysis, some attention also need to be given to becoming better in fundamental analysis too. A trader who knows both technical analysis and fundamental analysis well will be a very good trader with little errors to correct to make them close to perfect. To keep up with fundamental analysis, you need to be very up to date, and be able to determine if a news has a big economic impact or not, because not every news or event is relevant. I know you are asking about technical analysis @OP, but I am just trying to also stress the importance of fundamental analysis.

Mr. Magkaisa

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- As far as I know there are many combinations or contents of having technical analysis, there are tools that will be needed that are related to the technical of course. You can't be ignorant by reading it on a chart or graph of an exchange platform or in the trading view.

It means that if we know how to use these tools, even if they are not accurate, we can somehow predict the direction where its value or price will go in the market.

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Quote from: o48o on July 02, 2023, 06:06:59 PM

Quote from: odolvlobo on June 20, 2023, 12:19:33 AM

Technical Analysis is astrology for traders. It is dressed up to look like a science, but it is really just based on myth, fantasy, wishful thinking, and confirmation bias.
People who promote Technical Analysis are just trying to extract money from the fools who will believe anything they see, or at best they are trying to impress people with their fake expertise.

Well actually it's based on probability and statistics. It's a whole another argument if TA lives in a bubble and isn't connected to reality at all. But pure TA just studies probability, i doesn't care about fundamentals or real world events at all. Combining fundamentals to TA is whole another thing.

You say it is based on probability and statistics, and perhaps you actually believe that. But can you show me?

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Quote from: odolvlobo on June 20, 2023, 12:19:33 AM

Technical Analysis is astrology for traders. It is dressed up to look like a science, but it is really just based on myth, fantasy, wishful thinking, and confirmation bias.
People who promote Technical Analysis are just trying to extract money from the fools who will believe anything they see, or at best they are trying to impress people with their fake expertise.

Well actually it's based on probability and statistics. It's a whole another argument if TA lives in a bubble and isn't connected to reality at all. But pure TA just studies probability, i doesn't care about fundamentals or real world events at all. Combining fundamentals to TA is whole another thing.

There are number of ways people are trying to predict the chart. Old chinese patterns, elliot wave and psychology of market, and some people just follow the MA, which is like common man's TA. Some follow confimations that trigger bots and are self fulfilling prophecies. There are always patterns. Otherwise there wouldn't be successful traders.

I don't believe any indicator alone is accurate enough to confirm trades. I just buy something that i see having more marketcap value later on.

TA is far from magical thinking or tea leaves, but i totally understand why it seems to be indistinguishable from it.

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Quote from: Bushdark on June 30, 2023, 04:22:10 PM

Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There is no need of you looking for step by step to learn how to understand the technical analysis. This is a very important analysis that is used in the market to predict price and how the market can fluctuate over a certain period of time. You don't need to think on the steps that is required but what you need to know is to understand how to use indicators, candlestick pattern and others to predict the market. It is not easy to learn these on your own rather you need to learn from either online of physical class to aid your understanding about the market.

Perhaps, there is, and that is you need to learn first the basic of trading. It is really hard to figure out the use of that trading tool if you don't have any idea what trading is all about. Technical Analysis is not really hard to learn if we are motivated to do that. It is all about the collection of the past and trying to speculate on what will happen next. And with the help of a price chart, we are able to predict the possible scenario that comes next. You can learn it alone but much better to have a mentor that guides you and would answer back your questions.

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Quote from: Fatunad on June 29, 2023, 06:41:03 PM

Quote from: Silberman on June 29, 2023, 02:01:36 AM

Backtesting is key, very often we see people following the strategy of someone else blindly and they do not even know if the strategy is any good or not, and the only way to know this is by verifying this by ourselves, now I know that if someone does not have specialized software to do this then they will need to do this by hand, and this is a very long and boring process, but it has to be done, as in this way you will realize that a great deal of the strategies being shared on the internet are no good and you will save yourself from losing your money.

Backtesting is indeed the key on which you could really be able to apply with into demo account if you are really that tending to learnt up on those technical indicators without really liking on losing or making use of live funds on which you are really that trying to learnt up on how those indicators would or should be working.It isnt really that bad for you to have that kind of step first if you are really that planning to learn TA.
Its true that learning TA would really be that relevant towards this market. You cant really be able to find yourself that feasible or able to sustain this unpredictable market if you cant be able to handle yourself that well
because you would really be just eventually be making gambling if you do make out positions without having those analysis and basis on why you have done such thing. TA might not be precise but it
doesnt mean that you shouldnt really be learning it up. You would be finding its relevance on the time that you do touch up with this market.

You do not even need a demo trading account, as long as you can have access to the previous movements of the markets you could paper trade an asset for years or even decades and see if the results are positive, then you could do this on several markets and observe once again the results, this is a very long process but if you do it then you can determine if a strategy is good or not without risking your money, something which is invaluable for a trader which is just starting out their career.

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Quote from: Mayor of ogba on June 19, 2023, 11:36:36 AM

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

There is no need of you looking for step by step to learn how to understand the technical analysis. This is a very important analysis that is used in the market to predict price and how the market can fluctuate over a certain period of time. You don't need to think on the steps that is required but what you need to know is to understand how to use indicators, candlestick pattern and others to predict the market. It is not easy to learn these on your own rather you need to learn from either online of physical class to aid your understanding about the market.

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