Education is the Key

[MidNite36]

In crypto space education is the key, leave those BS people are talking about

1. Charts don't lie
2. Don't ever think about following the Herd.
3. Emotions is the real money killer.

When people are talking about that exact same outcome it doesn't always happen, the opposite is what will happen..

Charts don't lie, people do.

[mk4]

If you're talking about charts in the concept of trading — then sure, charts don't lie — because they don't tell much in the first place.

[Daniel91]

MidNite36, of course, education is important, but so is experience and emotion control.
It's not enough just to know how to analyze data in charts, you also need to have a good strategy and investment plan and a clear exit strategy.
Knowledge and education are important but not enough.
It takes time and experience for an investor to be ready for all market challenges.
Good luck with your crypto investment!

[MidNite36]

MidNite36, of course, education is important, but so is experience and emotional control.
It's not enough just to know how to analyze data in charts, you also need to have a good strategy and investment plan and a clear exit strategy.
Knowledge and education are important but not enough.
It takes time and experience for an investor to be ready for all market challenges.
Good luck with your crypto investment!

Thanks, Daniel, it's why I mentioned that emotion is the real money killer, unable to have control over emotion is what leads to loss of money with zero knowledge achieved back, there are some loss lessons that leads to gaining some understanding but not with emotions, the move was base on FOMO.

[Findingnemo]

Charts don't lie but it never tell us what will happen in the future so anyone thinks that prediction is important based on the technical analysis to be more successful then its a lie. And about the topic what you define as education?

You're talking about either the knowledge or process?

[SatoPrincess]

In crypto space education is the key, leave those BS people are talking about..

The importance of having an education in a subject cannot be overstretched. I believe if a lot more people understood crypto there wouldn’t be panic selling when they see a little dip.

Charts don't lie, people do.

Trading charts only show information that can help you analyze the market and decide when to buy or sell. Your ability to accurately read trading charts will determine if you can make profitable trading decisions

[Oluwa-btc]

Consistency
Control over your emotions
Patience.

As said by Daniel91, have a good plan and strategy, don't be greedy.
Education is the first step in all, but you need additional qualities that will define you in tough days.
Hopefully you stay on the right path chasing your Crypto goals. Good luck mate (Ahead)

[sheenshane]

When people are talking about that exact same outcome it doesn't always happen, the opposite is what will happen..

Charts don't lie, people do.

Because they're claiming themselves to an expert in prediction which is the fact that isn't.
I tend to agree that the chart will not lie and all price history of the price was recorded there but the chart won't tells to anyone what will happen in the future.  Though there are many people who believe that the chart will use as a tool to speculate the market price but that still remains to guess the price, there's no guarantee that you will have an accurate result.

That's a perfectly right answer, education is the key to how we do understand the market behavior even though it's unpredictable.

[Luzin]

Charts don't lie but it never tell us what will happen in the future so anyone thinks that prediction is important based on the technical analysis to be more successful then its a lie. And about the topic what you define as education?

You're talking about either the knowledge or process?

That's right, all this time the chart only helps us guess where the price will move. With chart analysis we have a guide on when to exit or enter the market. So that this minimizes our losses. But beyond that, there are many that we cannot predict such as Whale which has large funds that can change the state of the market. Then education without practice or implementation will then be ineffective, therefore doing it directly will be more effective.

[Darker45]

To a certain extent, I agree.

But, in all fairness, charts truly don't lie. They're a historical record of Bitcoin prices over time. They're based on facts. They're not created by people out of their imagination. But what we make of those charts are subjective. We can make a hundred and one different predictions out of them.

You don't follow the herd for the sake of following them. I suppose it's not that bad to be with the herd for as long as you are with them not because of going with the flow but because your analysis points to the same direction the herd is going.

When it comes to money, emotions are indeed a hindrance or an obstacle. Most often, if we want to come up with the most reasonable decision, it is better to shut our emotions down.

[tranthidung]

1. Charts don't lie

Yes and most of models are wrong. It's easily to build up models based on past data but it is not easy to build up a good and correct predictive model. There is margin of errors, deviations from a model but no matter how accurate it is, don't bet all your capital because of any model.

2. Don't ever think about following the Herd.

Sometimes, it is good. Example panic sell. If you smell that there is news which will trigger panic sell on massive scale, you should move before the crowd or do it as soon as possible, just like earliest panic seller. It is not harmful and you can buy back with more amount of coins or tokens. It means you take advantage of crowd effects.

3. Emotions is the real money killer.

If you make your decisions solely based on emotion, greed or fear, sooner or later you will lose your capital.

[Lida93]

Education is the roadmap to success and no man can excel without it. As for emotions in business it won't take anyone far, even in real life affairs cause it will always end up in pains. Not to talk of in business.

[Despairo]

Charts don't lie but whales can manipulate it just like what happened to UST and Luna that attacked by institutional company to punish the project ideology. This is just an isolated case but manipulation is very common in crypto due to its thin orderbook so no matter how bearish or bullish the coin is. There might be a chance that the technical analysis on chart will always show an accurate result especially the long time frame.

You really think the whales was behind of UST and LUNA crash? hell no, the CEO and the team are the behind of the crash. Although we see they're cooperative and likely want to make their coins to be top 10 again, also promise their holders that their coins will recovered and not failed. But how do we know behind it? This is why I don't like anything that's centralized since you're need to trust 100% about his words and I'm not the person like that.

[DdmrDdmr]

<…> 1. Charts don't lie

Well … it depends ...

We could resort to Mark Twain’s There are lies, damned lies, and statistics which I tend to use as a personal text, when I don’t find a better use for that space. Charts often represent numbers, and in order to take a given chart for granted, we need to be sure that the underlying data is correct, was properly gathered, and that the representation is adequate (*) for interpretation beyond doubt. On top of that, charts will tend to fail to provide a context on their own, which in BTC is crucial in many cases as strong fundamentals can easily sway trends.

(*) A counterexample would be Purdue Pharma’s deliberate use of a misleading representation when charting data to support their marketing claims that their drug product wasn’t addictive. In order to do so, they used a logarithmic  scale instad of a linear scale, this giving the wrong and smoother impression with their data.

[KingsDen]

In crypto space education is the key, leave those BS people are talking about

Education is the key to what?
There is a clear distinction between education and knowledge per say. What we do is to learn and improve our skills, we do not attend professional higher institutions for crypto.

1. Charts don't lie

Yea, charts don't lie. But charts isn't manufactured on the fly. There are data that every chart is based to ascertain its accuracy. So when the data is faulty, charts will lie and that is why the market often relegate some strategies and that is why we must back test.

[hugeblack]

1. Charts don't lie
2. Don't ever think about following the Herd.
3. Emotions is the real money killer.

Personally, I agree with you on the last option, which is controlling emotions, but the rest of the available options I can say are:

It is impossible to repeat the same patterns/Charts, the market is not an arithmetic equation because it has many random variables and we have a lot of outliers due to epidemics, wars, supply chains and other problems, so it is impossible to repeat patterns or help predict in the medium and short term.

As for following the herd, you can benefit from it to make profits, as retail investors represent a good percentage of the total daily trading. ) and thus more sales.

[Mpamaegbu]

When people are talking about that exact same outcome it doesn't always happen, the opposite is what will happen..

Like pepping spirits, walls have ears and market markers and manipulators are always listening; that's the logic that could explain why things go opposite. My thought on that, however, is that many people who chorus a particular market or price direction may not even be TA traders who actually take time to monitor charts. There are people who just want to chant what others say without knowing what informed it. Again, I believe that despite the fact that there's no perfect situation anywhere in the world and that charts may not always be accurate; it's not any wiser trading without them. Doing that is pure gambling.

[BIT-BENDER]

When people are talking about that exact same outcome it doesn't always happen, the opposite is what will happen..

Charts don't lie, people do.

Now this is contrary you telling us that what they say the opposite always come true, I am guessing it should also apply to what you just say, really you have no advice here I am sorry to say, you haven’t even put an ounce of work, research into this post you just dropped it maybe based on the fact it sounds like a pumped up post to you, for real I would advice you to first to a good research on the topic you trying to dispense.

[SatoPrincess]

In crypto space education is the key, leave those BS people are talking about

1. Charts don't lie
2. Don't ever think about following the Herd.
3. Emotions is the real money killer.

It depends, following the herd can be profitable if executed properly like the saying “buy the hype sell the news”. Number 3, I completely agree with. The mind matters when trading. Emotions can make you enter/exit a trade prematurely, when personal feelings get mixed in trading it becomes difficult to be clear mind to make decisions. But can we truly trade without allowing our emotions get the better of us?

[Rengga Jati]

Education is the Key

Education is important, as the basic thing that we should have even before coming to the crypto world and moreover invest in any coin. We need to deal with this to get knowledge about the crypto industry. However, education only is not enough, education without a good mentality in controlling our emotions will also mean nothing. It needs balances, not only about knowing that we should have but also how we can control our emotions very well and wisely, because if we are only smart but we are impatient, greedy, and cannot control our emotions, we can end up losing and being stressful.

Charts don't lie, people do.

The chart doesn't lie, but anything that can change immediately that makes the ending is not the same as we expect from the chart. There is also another factor that influence the market and we need also to pay attention beside the chart,that is the news (wide from good or bad)