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.

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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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Quote from: Kelvinid on June 29, 2023, 09:44:06 PM

They wanted instant and so they will find a way to make their life too easy. That is why many traders become successful because of that thinking and they keep struggling hard as they don't want to spend more time learning and searching. It was too impossible to succeed if we fail to acquire all the things needed in trading - knowledge, skills, and TA. We must have to carry all of these things as it was necessary. Aiming for success was jus a dream if we don't work hard and push our limits.

Seeing how the instant way is done. there are many instant ways to learn tarding and instant ways that only follow other people's advice, follow signals but have no knowledge of trading.
Those who succeed in the instant way certainly understand how the crypto market works.
Hard work and learning to be able to develop will provide benefits, rather than just relying on others and wanting instant results.
The Chinese wall was not built overnight, it took several years. Nothing is truly instant.

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Quote from: wxa7115 on June 26, 2023, 09:10:47 PM

People of today want everything to be summarized in just a few paragraphs, and something as complex as trading cannot be simplified to that degree regardless of the level of skill a trader may have.

They wanted instant and so they will find a way to make their life too easy. That is why many traders become successful because of that thinking and they keep struggling hard as they don't want to spend more time learning and searching. It was too impossible to succeed if we fail to acquire all the things needed in trading - knowledge, skills, and TA. We must have to carry all of these things as it was necessary. Aiming for success was jus a dream if we don't work hard and push our limits.

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

Quote from: tjtonmoy on June 27, 2023, 02:53:55 PM

TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

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.

tjtonmoy

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

~Snip

I have always said this and I have experienced it too. The things that you learn by yourself, you will never forget that. Simply just copying someone else's work will only give you temporary success. The results will be amazing if that thing works, but later on, we just forget how to do it again. I agree with you. It takes a lot of time to get a grasp of something, but it is the only way we can gain success in the long run. People are always trying to get success through shortcuts, For this, they learn temporary things. But they never understand that the talent you possess will stick with you no matter what and no one else can take it away from you.
This is what makes each of us unique. Learning something from the ground up and mastering it will always give us an advantage and keep us apart from common people. Create your own path and own brand. So that others will follow your path. This is the key lesson in our life. It's no different in learning technical analysis too. So the best advice is, no matter how hard it is, stick to it and see through to the end. Success will come after you.

Silberman

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Quote from: tjtonmoy on June 27, 2023, 02:53:55 PM

TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

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.

tjtonmoy

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TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

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Quote from: AmoreJaz on June 26, 2023, 06:28:27 PM

Quote from: Franctoshi on June 26, 2023, 03:57:42 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.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

also, he can always do a quick search over the internet because there are tons of info that he can read already. no need to buy hard copy of books regarding trading. he can always read and see it for himself. some are asking the easy route because they are in a hurry to earn profits. so learning slowly and knowing the basics will be your initial step in understanding the market, not only in crypto but other markets as well.
it is not tedious to learn these days, we are in the digital age where you can search mostly the things you want to know about any topic you want to explore with.

And funnily enough having so much knowledge at our disposal is now being counterproductive, after all what is the point of having such a huge amount of knowledge accessible to us when people do not want to take the time to actually go through it and learn it?

People of today want everything to be summarized in just a few paragraphs, and something as complex as trading cannot be simplified to that degree regardless of the level of skill a trader may have.

sheenshane

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Quote from: benalexis12 on June 26, 2023, 09:57:45 AM

Technical analysis in crypto trading is not easy to understand right away. But if you really want to learn this, you must have an account in trading view so that at least you know what basics you should know in this matter.
Before you understand this, you must know how to read a chart on a graph such as a candlestick, trendline, indicators and other tools like this so that you can have an idea of where the Bitcoin price direction is going, not accurate but at least know you somehow

Understanding technical analysis in crypto trading can indeed be challenging initially, but with the right research and resources, you can grasp its concepts effectively. The common step is to create an account on a platform like TradingView, which offers a range of tools and features to analyze price charts, and by familiarizing yourself with the basics through such a platform, you can gain trading knowledge on this. Because learning these candlestick patterns, trendlines, and indicators may take time and there's no shortcut to it.

Next, followed by demo account trading and also it could be a copy trading that will help you to improve your trading skills by gaining experience and knowledge. So good luck.

AmoreJaz

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Quote from: Franctoshi on June 26, 2023, 03:57:42 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.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

also, he can always do a quick search over the internet because there are tons of info that he can read already. no need to buy hard copy of books regarding trading. he can always read and see it for himself. some are asking the easy route because they are in a hurry to earn profits. so learning slowly and knowing the basics will be your initial step in understanding the market, not only in crypto but other markets as well.
it is not tedious to learn these days, we are in the digital age where you can search mostly the things you want to know about any topic you want to explore with.

Fatunad

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Quote from: Franctoshi on June 26, 2023, 03:57:42 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.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

It would really be that a broad topic and a wide range or type of indicators which you would be needing to familiarize or knowing with which it wouldnt really be taking a short time. This is why patience and dedication on
learning up these things is needed. It might really be that looking interesting at first but on the time that you would really be finding for it to be many then you would really be starting on getting bored with it and would
be having those impressions that you dont need to learn up everything.Well its true that TA's arent that precise but doesnt mean that you should stop on learning because sooner or later you would really be able to make use of these indicators or tools because not all the time on which the market would really be just that depending on the fundamentals. There are really that moments which TA is really that something sensible to be used
which it would really be that wise for you to be versatile on these kind of times which making out some adjustment would be always recommendable.

Woodie

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Rollbit.com ⚔️Crypto Futures

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

-First things first, know how to read candles ,charts,
Trading terminology (Probably the baby steps of trading and you can make use of a paid course or free resources such as youtube and the alike )
- secondly familiarize yourself with platform you be trading on, be it tradingview , metatrader,ctrader etc and then get to choose your tools based on strategy..like the Fibonacci, moving averages, trendlines etc
- Once all this is in place and you have you craft, practice practice practice!

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

and also know how to enter a trader.

People have several techniques on how to enter a trade, this can be done via Multitime anaysis, you can also use the Fibonacci for optimal trade entries, others scalpe with no stop loss which is high risk but saves you from those stop outs.

Good luck

Franctoshi

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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.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

Faisal2202

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Payment Gateway Allows Recurring Payments

Quote from: Hamza2424 on June 22, 2023, 03:50:16 PM

Practice learning skills, which will help ou to gain massive experience in a small interval of time. Trading is easy but trade management is rough.

What do you mean by trading is easy but trade management is rough, As AFAIK, both have no big differences so how they could have easiness levels differences? Maybe you are writing in some other context but my POV is, Trading means performing trades and Trading management is, managing trades, and we all know what managing trades means, it means, when to trade, in which coin to trade, with how much money we should trade and with how much risk etc. etc.

And all of these activities also came under the roof of trading, well leaving it here. I move on to OP's query.

My suggestion is, to learn graphs (candle's movements and learn the patterns), after learning patterns, try them on any demo account or you could use the back trading method to observe the accuracy of your pattern analysis. It might look difficult but once you learned maybe two or more, then you will be able to learn more. Because somehow, they are interconnected, yeah! One more thing you might find two different names of the same candle pattern, so do not confuse with it.

benalexis12

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Technical analysis in crypto trading is not easy to understand right away. But if you really want to learn this, you must have an account in trading view so that at least you know what basics you should know in this matter.
Before you understand this, you must know how to read a chart on a graph such as a candlestick, trendline, indicators and other tools like this so that you can have an idea of where the Bitcoin price direction is going, not accurate but at least know you somehow

justdimin

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www.Crypto.Games: Multiple coins, multiple games

Quote from: nur rochid on June 22, 2023, 10:29:39 PM

if we want to learn technical analysis, I think there are many references that can be studied. at first we have to understand support and resistance, because in that area we can usually use it to make money. but what is difficult is to set targets and stop losses that are mixed with emotion. and afterwards by doing practice we will automatically have experience, and that can be used to find our identity in trading according to our own style.

The OP wants to learn the "steps" which means we should start at the beginning but I think support and resistance are among the intermediate lessons already. We should not rush when it comes to learning how to trade because trading is not like investing which is only simple.

Support and resistance are important in trading together with the others. They are essential to help us earn a profit in trading. Anyone can set a target. It's only easy to do but it's hard to stick to it especially if our target is kinda unrealistic so it would be better to lower it first and accomplish them before we move on to the next level. Emotion is one of our enemies in trading so we must learn to control it or avoid it as much as possible.

jeraldskie11

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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.

If you already know the basic information how to use an exchange site. You can now proceed to the chart of Bitcoin/Usdt pair, and for better view I recommend https://www.tradingview.com
TradingView">Tradingview

1. Identify Market structure and make sure you're using macro time frame to see the bigger picture. If the trend is creating HH and HL meaning it's uptrend but if LL and LH meaning it's downtrend.

2. If you see a break of structure to the weak high, you have to wait for pullback to the demand zone. Demand zone is where you can find your entry, the target is the weak high and the stop loss is below the HL.

3. You can add indicators as your confluence to increase the probability of winning a trade such RSI, Volume, EMA and many more.

If you are not a fast learner person, I would recommend to join a mentorship program than to watch on YouTube because it's just makes things more complicated.

GreatArkansas

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Quote from: adaseb on June 22, 2023, 10:37:57 PM

(...)
Technical analysis is not perfect. You need other methods for taking a trade such as fundamentals or order flow. With crypto it’s more transparent than something such as stocks which have tons and tons of insider trading and manipulation.

For me, there could be also some "luck" here, which for me comes with a very small percentage, it's like that's why we have to stop losses just to be safe because we don't know what will happen, so some "luck" got some room with small percentage when you are trading.

About understanding technical analysis, I can say that it can be a useful way for traders, it's effective for most traders. You can start or continue learning technical analysis and use it to make your trading decisions every time.

BD Crypto

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BTC Rocks

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.

First you should read various articles from other crypto experts and you can watch some YouTube videos which is related to technical analysis. I saw several videos with good quality.

Then you need to visit TradingView website and try to learn about indicators , pattern, flags and support and resistance level and practice what you have learnt from articls and videos. Here you will also find many good analysis which are posted by the expert with proper details.
After that you should exercise yourself about what you have learnt. Try to draw patterns, support and resistance zone and and learn about volume chart. Then apply your lessons in Demo Trading. You can do demo trading in Bybit, swyftx and also in other platforms.The more you trade the more you will be experienced.

adaseb

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Just understand that if it was that easy by Simply buying when price hits some moving average or selling When price hits some RSI then everybody would be very very rich.

Technical analysis is not perfect. You need other methods for taking a trade such as fundamentals or order flow. With crypto it’s more transparent than something such as stocks which have tons and tons of insider trading and manipulation.

nur rochid

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if we want to learn technical analysis, I think there are many references that can be studied. at first we have to understand support and resistance, because in that area we can usually use it to make money. but what is difficult is to set targets and stop losses that are mixed with emotion. and afterwards by doing practice we will automatically have experience, and that can be used to find our identity in trading according to our own style.

Hamza2424

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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.

First of all, as many of the users suggested you choose a view to analyze the market trends, there are different trade view platforms as the popular ones, trading view, CMC, and even exchanges do offer basic market analyzing tools on their Dashboard. Once you are done with the platform now you need to learn about the tools and indicators for proper analysis and trend prediction. If you already know the basics you can start demo trading by analyzing the market on the view platform.

Practice learning skills, which will help ou to gain massive experience in a small interval of time. Trading is easy but trade management is rough.

Quidat

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DGbet.fun - Crypto Sportsbook

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.

Before making some trading account on certain brokers or platforms then you should be starting up with the very basic which is to learn up about terminologies.
It would really be that recommendable on trying to surf and finish up the course on babypips.com. Although this one isnt really that solely focusing out on crypto but rather its on forex
but it is really just that overall the same on how technical indicators should be used or when it would be used and other stuffs. The real deal or target on here is to get that
sufficient information on things and even on candle reading which it would really be that crucial once you do dive in into crypto space.
Just remember out that you shouldnt really be rushing out yourself on making money because this is usually the primary mistake of someone who do make some rush up
just because they are really that too eager on earning money which is really that very wrong.

justdimin

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Mr. Magkaisa on June 22, 2023, 05:27:11 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.

- Honestly, what you are asking is not easy to understand immediately for a beginner entering Crypto trading. In order for you to have an understanding of this, you must first have an idea, even a basic one, so that you can understand what others will tell you here.

You can only understand this somehow if you are in the actual trading view, and to see it you must have an account on Binance, Bybit, and other exchange site platforms. And when you also learn about technical analysis, at the same time, you will learn fundamental analysis, of course, and other tools that will be used in trading activity.

Learning about TA is a months and months long work and in order to be able to do that, you need to make sure that you know what you are doing and if you are doing a good job then you will realize that you are getting better at understanding it. Not a lot of people can understand it completely which means that it is not going to be a simple job.

I think it is better if you could focus on what you could do, and that means we are talking about making as much profit as you could after you learned it. How do you understand you learned enough to trade? Well, there are two ways, one is you will learn it by seeing, like you would write down on a piece of paper when you will buy it without buying it, and then check later if you were right. Second is spending just a tiny amount to trade and see if you could.

Mr. Magkaisa

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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.

- Honestly, what you are asking is not easy to understand immediately for a beginner entering Crypto trading. In order for you to have an understanding of this, you must first have an idea, even a basic one, so that you can understand what others will tell you here.

You can only understand this somehow if you are in the actual trading view, and to see it you must have an account on Binance, Bybit, and other exchange site platforms. And when you also learn about technical analysis, at the same time, you will learn fundamental analysis, of course, and other tools that will be used in trading activity.

bittraffic

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One that I first learn is what the indicators are saying. This is very important and you can also learn this by just watching those guys who are also providing technical analysis.

I think it's the RSI that is the easiest to learn as it can be used in all TF. The moving averages are just to see where the trend's direction is. When to buy and when to sell is the next that you need to determine and with the help of indicators still, you will be able to decide when to execute buy and sell.

jrrsparkles

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Quote from: wxa7115 on June 21, 2023, 03:55:33 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.

I think you have a major misconception about TA, TA is not something which you can learn by following some simple steps which can be described in a single post, there are is an enormous amount of literature about TA, you could read a book about TA during every single day of your life and you will still not finish the huge number of books about this topic.

So make sure that learning TA is something you want to do, but more importantly do it for the right reasons, if you are thinking about becoming rich with it as fast as possible, the only thing I can assure you will learn from it instead is to lose your money as fast as possible.

Technical analysis is nothing but predicting the future of market movement and ofcourse everybody knows that it's impossible to predict the future with accuracy but still it plays a part if the fundamentals met the criteria of an asset for example here we talk about bitcoin which has the price history of over 10 years and we are assuming its future growth based on it.

Technical analysis is simple and complicated too depends on how much we include it into our decision making. And TA is not really mandatory for someone to be a trader however they will understand the concept when they are into the market.

bitgolden

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Leading Crypto Sports Betting & Casino Platform

Quote from: palle11 on June 21, 2023, 06:21:29 AM

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.

No it is not wishful thinking.... TA is part of the techniques that traders adopt to understand the market and trade on it. It is more also like FA which is fundamental analysis, this is strictly based on news and sentiment of the market and opinions of investors which is cumulated in their emotions. TA itself is chart based and we can't treat chart with wave of the hand, just like other fields that use charts to navigate their challenges. Charts are used in engineering field and other fields.

I think understanding TA and the indicators/charts etc is not that hard, as long as you know what you are doing then you should be doing a good job. There are a lot of people who have absolutely no idea what they are doing or what they are talking about, which causes a lot of trouble, if they knew what they were doing and actually provided something about it then it would have made sense but unfortunately not a lot of them actually do know what they are talking about, most traders that even use TA end up with a problem and that main problem is the fact that they are looking at the chart wrong way.

We mocked all those who draw lines on charts because they are not doing a good job and the result will most likely be a bad one without a doubt if they don't know what they are doing.

dansus021

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personal advice

register trading view
watch youtube videos or read articles from website out there like babypips.org or investopedia to know the basic
backtest your strategy
combine or pick indicator that you think suitable for you
fail - believe me is needed
backtest again
trade with cold money trade with money that you can afford to lose

there will be bunch of youtube video and you don't need combine all the indicator in one chart maybe 1-3 is okay and use your own style you will find it

Bananington

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Technical analysis can't and shouldn't be as technical, if a layman can't grasp the subject context.
I don't know if you think there are any specific analysis to make before starting trade or owning some Bitcoin.
Of course, you would have to have made and agreed to a formal way to invest in the coins you want to use, I believe an account on the exchange you want to use should be registered and proper KYC verified.
The device to use is another aspect, either it is a laptop, desktop or phones and tablets.
Finding like minded traders willing to direct and teach, invest to get some coins. Grow your knowledge by doing personal research and joining communities as these.
You good to go! It begins with the quest to understand first.

Questat

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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.

These are the things you need,
* have a plan
* must do actual/real trading
* courage to take risk

Once you are in actual trading and while you are reading the chart and market development, you are already building how to analyze the market. And that is how TA is made and you can learn more of this if you are active in the market and the more you spend on the chart, the more you improve your analysis.

@sriyan

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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 are a few things you can try out.

Eg: Take the BTC/USD chart

1. You can back-test the BTC chart with different incidents that happened in the crypto market(News, SEC regulations)
2. Then apply the different trading setups for your chart.
3. Create your own strategy by back-testing the charts
4. Apply your strategy.
5. Always take the profits.
6. Exit the market end of the market cycle.

palle11

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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.

No it is not wishful thinking.... TA is part of the techniques that traders adopt to understand the market and trade on it. It is more also like FA which is fundamental analysis, this is strictly based on news and sentiment of the market and opinions of investors which is cumulated in their emotions. TA itself is chart based and we can't treat chart with wave of the hand, just like other fields that use charts to navigate their challenges. Charts are used in engineering field and other fields.

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

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.

This is different. People can speak positive about TA and not selling out TA to anyone but those call groups are those who extract money from the fools.

wxa7115

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Bitcoin is GOD

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.

I think you have a major misconception about TA, TA is not something which you can learn by following some simple steps which can be described in a single post, there are is an enormous amount of literature about TA, you could read a book about TA during every single day of your life and you will still not finish the huge number of books about this topic.

So make sure that learning TA is something you want to do, but more importantly do it for the right reasons, if you are thinking about becoming rich with it as fast as possible, the only thing I can assure you will learn from it instead is to lose your money as fast as possible.

UchihaSarada

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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.

As a newbie in the cryptocurrency space, don't trade.

Don't want to be a cryptocurrency trader when you don't have knowledge about this market, don't have knowledge about technical indicators, analysis for trading.

Even you have knowledge about this market, about technical analysis, you might not get profit from trading. Trading is only profitable for very little part of traders like 1% to 20% of all traders. Do you want to be 80% to 99% of failed traders?

What percentage of day traders fail?

It is only about trading. By trading, you leave your coins on centralized exchanges and you might lose your coins if exchanges go down.

Flexystar

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

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.

This kind of makes sense isn’t it. All the brokerage firms making buzz about the tools they have about the price prediction and so called trading view. You pick any app over the internet, everyone will have trading view and basically they become expert in the field immediately. In reality all they have is open source UI and algorithm which runs same set of information and gives the results to us. I don’t know but you don’t even need to worry about the TA to be done by all yourself. The Call and put options / way of trading is even crazy. The software tells you how many of them buying and selling and they tell us to follow the same. Isn’t this is spooky?

Litzki1990

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First of all welcome to the crypto world. Your focus is on trading. You might be wondering how to get into trading. Since you are new to trading, you need to gain a good understanding of trading first. Apart from acquiring a good understanding of trading, you need to apply that understanding practically. To put your idea into practice, you need to have an account on any exchange. After opening an account in the exchange, you can put your idea into practice by depositing some amount of money there. Thus if you apply the concepts in practice step by step you will become a skilled trader.

Alisha-k

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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.

Technically Analysis is a skill you acquire by consistent learning

It’s like a course you offer in school then when you apply it in practicals and you make good profits, we can then say you’re good in TA

You can start from watching YouTube videos from experts

Reading ebooks and other articles online

I’ll advice you do all these before attempting to trade

pakhitheboss

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I am not trying to discourage you in any way with this reply. Becoming a cryptocurrency trader is not as easy as you think. Apart from technical analysis, you need a few more skills to succeed in trading. I am going to list them down and I hope you work on them before venturing into trading.

Risk Management - Managing Risk requires some basic skills like how to use stop loss, position sizing and always maintaining a disciplined approach.
Fundamental Analysis - Tacking news, regulatory changes, and technological developments fall under it.
Patience - You would need a lot of patience. Controlling your emotion is very compulsory otherwise you might take a wrong decision.
Financial Management - You will need to work on budgeting, profit/loss calculation, and risk allocation

odolvlobo

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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.

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.

Bitcoin_Arena

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1. Create or own a tradingview account for a start. There are also similar charting tools like cryptowat.ch, coinalyze.net etc
2. Do some reading about the different technical indicators and chart patterns from sites like Investopedia, babypips.com
3. Watch YouTube videos regarding technical analysis. Do not follow financial advice, but rather learn how they carry out technical analysis live. Some of the YouTubers are just shills trying to get referrals so be careful
4. Start practicing the different strategies which you think might best suit your trading style using demo/paper trading accounts (available on different platforms such as tradingview, MEXC, OKX, Bybit etc.)
5. You can now start practicing using real money, but money that you can afford to lose. Practicing is the only way you can completely learn how to analyze and trade.

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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.

Topic: What are the steps in understanding technical analysis? (Read 485 times)