noorman0
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April 13, 2023, 07:15:37 AM |
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It depends on what kind of trading you want. If you are a typical day or futures trader then technical analysis is preferred to master. There are also professional traders who don't even use technical at all because of the longer trading period and reduced psychic effects. To use fundamental analysis is sometimes more complex, which must follow the important economic calendar in the world.
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Dr.Bitcoin_Strange
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April 13, 2023, 10:09:20 AM |
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P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
OP, technical analysis in trading and Bitcoin technology are two different things; I see that you are missing the two words together. When you talk about Bitcoin technology, it entails understanding all the programs and processes that make the system operate efficiently, but the technical analysis you are talking about in trade is a combination of some trading tools that make you get a good insight on price movement and also be able to predict the direction of the market at different time intervals. So yes, it's a must to know how to use some technical trading tools and how to combine them. But that's not only what will make you a successful trader; you will also build your own trading strategy that works better for you, like the best time to trade, favorite crypto pairs to trade, when to take profits, how to manage your money, and how not to allow your emotions to influence your decisions in the crypto market. I fully agree with this Price it’s not the case here
@CryptoGodSon I think you wanted to quote the above reply. See how to quote.
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hugeblack
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April 13, 2023, 10:24:38 AM |
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The comments here are free, and many people seem to see them and analyze the price. Do not take these analyzes as investment advice. As soon as these members mention information, go to Google Learn about it and try to share your information. In a short period and within 6 months you will learn a lot and then you can develop a strategy on your own. These boards you can search:
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Hypnosis00
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April 13, 2023, 12:18:26 PM |
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Can I learn myself or is important I about them from a professional?
You can take both but I would say that having someone even though it was not a pro-trader but already have an experience in trading, will help you to easily understand trading. But of course, doing research could actually give you more ideas if ever he misses it or not mentioning it. Because the truth is that learning can't be done instantly but it is continuous. And you can build confidence if you have enough knowledge and TA is one of the vital things that you need to learn, perhaps master it if possible.
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jeraldskie11
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April 13, 2023, 02:35:29 PM |
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Reading charts is not learned from school AFAIK. People only learned it when they have the interest to learn about it or just have the motivation to make money. It is entirely different if you are motivated and interested in learning anything. However, self-learning in trading is difficult; you will have to experience numerous losses in order to learn. Many merchants pretend to be self-taught, but the truth is that they are too arrogant to admit that they were directed or taught by someone. Consider this: we have a profitable mentor who has trained us, but it is still tough for us to be constant in the market. Self-learning is beneficial, but it is preferable if we are taught. There were success stories posted on the forum, particularly on the Forex forum where they were just following the free trading systems shared by some users. Eventually, they learned more about the indicators and how to use them to speculate the market.
AFAIK, most forex traders rely solely on price action. So it is hard for them to be profitable if all they know is an indicator . The indicator is somewhat sluggish; it simply reports on the last price movement in the market. It is rare for someone to declare that they have been profitable as a result of free trading information. So be cautious, because some people simply steal other people's success and then claim it as their own.
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Cryptomiles1
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April 13, 2023, 03:03:06 PM |
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Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here. P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
First I have to answer this from your post title, is some what related to as "asking someone if he would take breakfast for the day"? Yes of course! Anyone that woke's up in the morning needs a breakfast it could be any food. Such is TA, you can't do without Technical Analysis as long as trading is concerned in crypto trading or Forex trading, they are essential tools that guide you to a successful trading. Without you developing a passion for TA then your trading journey might not be smoother as you may think.
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borovichok
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April 13, 2023, 03:06:31 PM |
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It depends on what kind of trading you want. If you are a typical day or futures trader then technical analysis is preferred to master. There are also professional traders who don't even use technical at all because of the longer trading period and reduced psychic effects. To use fundamental analysis is sometimes more complex, which must follow the important economic calendar in the world.
Trading is risky, so to be on the safer side, we need to obtained good knowledge that will aides the smooth mapping of trading charts. Categorically, we ought to know the market season, currently is the bear season and there's sign of incoming bull in the market. Mastering both trading strategy would be difficult at first but with time, gaining some knowledge of fundamental will also do some backup help. Technical analysis is more accurate than fundamental analysis because news only comes twice in a week, specifically CPI. Unlike FOMC that do comes first week of every new month.
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electronicash
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April 13, 2023, 03:31:20 PM |
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today you just watch just about anything on video-sharing sites and learn technical analysis by watching tutorials is somewhat ideal for everyone who has a phone.
all there is to have is an interest to learn to trade. which is also difficult to have when you have nothing to invest though. you definitely need some push and money to play around as capital.
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rby
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April 13, 2023, 05:00:38 PM |
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Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here. P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
In cryptocurrency trading, we have technical analysis and fundamental analysis. While some people believe that fundamental analysis is the real and needed analysis to excel in the crypto-currency market some other people believe that it is the technical analysis that is the main analysis that drives the market but in my own opinion both technical and fundamental analysis augment each other and they do not contradict each other. Whatever happens in the fundamental is what is represented in the technical. So having the knowledge of both will be exceptional for you to excel in cryptocurrency day trading.
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death69
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April 13, 2023, 05:23:45 PM |
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As for your question on technical analysis - well, picture it like using a map to traverse a jungle. You could meander aimlessly, fingers crossed, but why gamble?
Naturally, it hinges on your trading approach. If intuition is your jam, TA might not be your brew. But for risk reduction and informed decisions, a dose of TA works wonders.
Imagine TA as training wheels on a bicycle. You could ditch 'em, but why court scraped knees? A little practice, and you'll be pedaling like a champ.
Give it a whirl. Who knows - you might astonish even yourself.
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el kaka22
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April 13, 2023, 07:06:15 PM |
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It is not a must if you are a long term investor like me, but it is good to learn if you have the time. I mean there is really no reason not to learn it, how you can learn it is on google and youtube and free for all, so there is absolutely no reason not to learn it. After you learn it ,there is this added bonus that you will be better at trading as well, but you could still do long term investment if you want to.
I personally learned it and still do long term investment but sometimes I try trading here and there, whenever I feel like it. That is why it is better to have it and no reason not to, which is why it would be great to focus on something like that. I am not sure if it will be a good idea to go along without learning it.
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stomachgrowls
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April 13, 2023, 08:22:23 PM |
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Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here. P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
If you are really that having zero knowledge in trading and if you do wanted to have a good grasps when it comes to technical indicators then it wouldnt really be t hat bad on finishing up the course which is on BABYPIPS.COM. This might be particularly focusing on FOREX but this is something that do share up on the same idea on how technical indicators should be used and should really be treated up. Dont make yourself that having that feeling sorry or whatsoever because this is a free market.You can do everything you do want and make or use of your own ways and its none others business on what you would be doing.
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blockman
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April 13, 2023, 09:30:31 PM |
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Can I learn myself or is important I about them from a professional?
You can learn it on your own and there are a lot of video materials where you can learn it for free or even pdf files that you can start reading which are given for free as well. There's a different between learning it to a professional but they'll also just teach you the basics of it and most likely, they're not active traders anymore but just stayed as an educator that aims to help new traders that are on their way. And of course, it could come with some fee and it might not be free. One of the best teachers is to learn it with actual trading as you try to read and make your own TA also, do not forget that no TA can beat the market.
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Myleschetty
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April 13, 2023, 10:11:02 PM |
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No Technical Analysis its not the most important thing in crypto space.
Technical analysis is a must know for cryptocurrency traders that want to go a long way in the market or want to have outstanding knowledge about crypto trading. Do you know why? Technical analysis help trader develops trading strategies and makes knowledgeable decisions by combining historical market data, like price, trend, and volume to make the right decision it will also help the reading of chart and candlesticks uses.
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Bushdark
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Social media moderator/chatter
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April 13, 2023, 11:00:18 PM |
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Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here. P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Technical anal6is a must for us to learn how to trade. Just like we have the forex market that solely dependent on technical and fundamental analysis. In cryptocurrency the market does not only depend on the fundamental rather the technical analysis that gives us clue of the possible direction the market is intending to go. Trading is one aspect we need to know thoroughly for us to be able to keep making consistent profits from the market. Technical analysis include the indicators, price patterns, and other constituents of the market that is different from the fundamental.
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jeraldskie11
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April 14, 2023, 01:38:09 AM |
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There's a different between learning it to a professional but they'll also just teach you the basics of it and most likely, they're not active traders anymore but just stayed as an educator that aims to help new traders that are on their way.
It appears that one cannot be referred to as a professional trader if he is not actively trading. Because, as a professional trader, he should be active because it is his primary source of income, and he has demonstrated that his trading strategy is profitable. So he is not a skilled trader; he is most likely a trader who is losing money, so he started a mentorship program to earn money instead of trading. As a result, he can only teach his mentees the basics. I urge that you acquire a mentor when you start trading because I don't want you to be like others who ruined their careers due to " self-learning". Just make sure you find a mentor who is truly profitable and who will educate you from the heart, not just to take your money.
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xSkylarx
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April 14, 2023, 04:31:13 AM |
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Technical analysis is a basic thing that needs to be learned in trading; i mean, most tutorials have this as this is where we start, like with the proper usage of indicators and how to integrate them into our strategy, or even just our strategy and additional gut or feeling, but there are also others who do naked trading and just trade based on a candlestick pattern. But you as a newbie, it is better to learn it too. I mean, it is a tool for you in trading, and you should also try it, and if it isn't working on you (which is impossible), then try fundamentals.
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Faisal2202
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April 14, 2023, 06:18:15 AM |
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Hello everyone am new here, ...so I hope am not breaking any of the rules posting here. Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Welcome aboard iloveegusi, i hope you may grow, prosper and learn a lot though this forum, No you are not breaking any law by posting any topic here, but you have to keep the types of your post in your mind before posting it on any thread, like i can see, you posted a question bout technical analysis on the trading discussion which is a good sing that you have introduced yourself with the forum rules. And i have a jumbo tip for you, Do not plagiarism on this platform. Now coming back to your query, of is Technical analysis is necessary or not. it is damn necessary, actually most of the traders use two types of analysis before hand when they took entry in any kind of assets or digital currency. Which is Fundamental analysis and Technical analysis. In the first one (fundamental analysis) person get familiar with all the economical events and observe all the News cycle and try to find behavior on big whales accounts bia tools, to understand the broad image of crypto market. And after getting a good sign to take entry, You further goes to technical analysis, in which you observe charts of the specific token, asset or security you have chosen to buy, sell, or hold whatever. You observe the charts, and apply different tools to deduct decision making patterns out of those charts. you must have good skill on it because it the main heart of the body. Overall, it's not that difficult and AFAIK, it is more predictable than fundamental ones. because charts depend on fundamental and fundamental depends on news cycle, government's steps towards crypto, rule and regulations, etc. which are unpredictable at some points.
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Kelvinid
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April 14, 2023, 10:10:25 AM |
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Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Technical Analysis is vital in trading and a must to know prior to starting trading. Might it find hard and not work great at first but you will know later how important it was when fully engage in the market volatility. But yes, even you know TA, don't make yourself very confident that you are totally safe and not incur losses because whether you like it or not, this will happen to any of us. But if we talk about how useful is this in trading, this is one tool for our success.
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Oshosondy
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April 14, 2023, 10:18:01 AM |
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It depends on what kind of trading you want. If you are a typical day or futures trader then technical analysis is preferred to master.
Scalping is having shorter durations for opening and closing positios than day trading. With scalping, you only need some seconds to some minutes to open and close position. It requires technical analysis too. Swing trading is what we can consider as long term trading in which you can open a position for days up to a week or more. Swing trading also requires technical analysis too unless the market drop significantly to the point that you know that if you open a position, you will be favoured as the market go just in your direction taken of your opened a position. If you do not want technical analysis, just invest. But investors still make some simple technical analyses.
Which only means the person is not a professional trader. Some people can consider themselves as a professional traders until they learn more to know that they know nothing before. You now what ignorance is. There are also professional traders who don't even use technical at all because of the longer trading period and reduced psychic effects. To use fundamental analysis is sometimes more complex, which must follow the important economic calendar in the world.
You probably means investors, not traders. Some investors even still check the chart before investing. Good traders can not do without technical analysis.
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