gunhell16
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April 16, 2023, 07:27:05 AM |
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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
Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency. Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs,
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Yamifoud
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April 16, 2023, 09:01:56 AM |
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Well, if we want to succeed and reach our goal in trading, then we have to learn many crypto trading tools and so we should have to learn TA. It has to note that TA is one of the vital tools in trading. We don't have to do it instantly but we can learn this somehow gradually as we are in actual trading. We don't have to be perfect on TA as it was also impossible but at least having this stuff will help us a lot as to we have an idea of what we gonna do next - when to buy and when to sell.
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Woodie
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April 16, 2023, 11:42:32 AM |
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Well technically can't say its a must know because we have all sorts of trading styles and others trade with the help of expert advisors and indicators which doesnt need the extra knowledge , but if you are the hands on kind of trader I would say learn technical analysis to give yourself an edge over the market and just give yourself a winning chance. All in all go with what works for you! For me yes, Except you want to be a blind investor into Bitcoin and cryptocurrency without understanding the market.
I don't know about this, are ypu saying all investors out there know technical analysis or how to trade... I don't think so, others use financial advisors or investments managers that do this for them and factor out the risk involved etc.
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tygeade
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April 16, 2023, 12:40:50 PM |
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...Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Of course, if you consider yourself a trader and do not have a crystal ball to predict the price, then technical analysis will be useful to you. But to trade and make a profit, it is not enough just to look at the chart, you need to understand what is happening in the market. What is happening in the market could be seen from the TA as well, charts do share that, not just the past, but also tries to predict the future by looking at the past movements as well. That is literally what charts are all about, it looks at what happened, it searches for if that same thing happened before, if it finds any, it looks what happened after that, and then tell you "x happened, last time x happened, y happened, be ready for that" and that's what charts are all about. I am not saying that it will be a good investment or anything like that, obviously we could have a bad result on this and could maybe face something bigger, but as long as this exists, I think reading charts and checking the indicators are a great way to trade.
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Nrcewker
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April 16, 2023, 01:10:33 PM |
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If you accumulate more knowledge be it in technical form or theoretical form, it’s no harm to a person. I mean extra knowledge is never harmful for any human in any way. I am not saying that technical analysis is not required , but without it, a person can trade also. All you need to know is basic knowledge of the coins, it’s history and at what particular time or event it’s price increases or decreases. If a person has basic knowledge on this, then definitely he can do good and profitable trades. Technical analysis help in many perspective, but it’s not always necessary.
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CarnagexD
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April 16, 2023, 01:46:14 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
Trading isn't all about technical analysis. You can also use solely fundamental analysis instead. The point is, you cannot master the market. You can only master yourself. By establishing your own rules, own system, own decision making process, and most importantly risk management. All put together with your own psychology and there you go. You are able to profit with the market. You can give any person a working system but still, they cannot trade it profitably. Why? Is it because of the system? The market change? NO. It is because of the trader. The operator. They lack the necessary experience and confidence to get in front of the market. 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
Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency. Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs, Reading the chart is completely different from trading. Trading is engaging the market. Reading the chart is only knowing where it is likely to go. You can know its direction but can you trade it? Can you accept the risk? Can you take the probabilities? Can you endure losing positions before it goes to a winning position? It's easy to win a trade. But it takes mastery and rigid rules to win consistently.
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palle11
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April 16, 2023, 03:53:31 PM |
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If you accumulate more knowledge be it in technical form or theoretical form, it’s no harm to a person. I mean extra knowledge is never harmful for any human in any way. I am not saying that technical analysis is not required , but without it, a person can trade also. All you need to know is basic knowledge of the coins, it’s history and at what particular time or event it’s price increases or decreases. If a person has basic knowledge on this, then definitely he can do good and profitable trades. Technical analysis help in many perspective, but it’s not always necessary.
You are right to remind that technical analysis is not all to trade but that having the knowledge is helpful and it is going to be an advantage or edge that you may need in the trade. However, regards to knowing the time that coins increase or decrease, I think probably you are referring to bitcoin because of halving that happens every four years and the expectation of a rise comes after each halving, but other coins don't have such specific or expectation like that but to rely on bitcoin bull and sometimes they don't perform as such even with bitcoin bull. The technology of some projects doesn't also become what to look at. Pump and dump coins don't rely on technical analysis or any indicator but your ability to read what is happening. Therefore apart from bitcoin, we can't conclude expectation of increase or decrease of a coin.
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mvdheuvel1983
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April 16, 2023, 04:12:55 PM |
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Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Newbies should learn technical analysis. It is the simplest technique to track and decipher price movement, in my opinion, and serves as a pointer for many other market indicators. - it is the simplest technique to observe and interpret price movement. Any dummy by just at the chart can tell the direction of the price. - it is the simplest technique to determine whether you should buy or sell because just by looking at the chart you can tell the direction of the market. - if you want to know when to enter or exit the market, technical analysis is the first port of call. - Managing risks is not excluded too. Technical analysis is highly important, as you can see. Beginners should learn it, while seasoned traders should continue honing their skills in it.
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DevilSlayer
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 16, 2023, 05:10:24 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
Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency. Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs, Don't forget the consistency, you cannot master something without these things: burning desire to master some skills like technical analysis skill, faith to yourself that you can achieve what you want, giving the best that you got and lastly being consistent. Do you guys aware that this is where a lot of people struggle and fail wherein they let go their dreams and decided to not pursue it because they do not have consistency. It is one of the hardest things to master in any subject, consistency requires discpline and only few people have discpline to pursue their dreams and goals in life. When I was still beginner in crypto trading, I thought that it was easy to become successful in this field but I was wrong because it is really hard and I also experienced before that I almost gave up and not pursue the trading but I persist and I know became one of those profitable traders. My persistence is really hard but once you master and earned it, it is all worth it. Remember guys that failure is part of the process and it can help you to more faith in yourselves.
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death69
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 16, 2023, 06:15:20 PM |
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...Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance
Of course, if you consider yourself a trader and do not have a crystal ball to predict the price, then technical analysis will be useful to you. But to trade and make a profit, it is not enough just to look at the chart, you need to understand what is happening in the market. What is happening in the market could be seen from the TA as well, charts do share that, not just the past, but also tries to predict the future by looking at the past movements as well. That is literally what charts are all about, it looks at what happened, it searches for if that same thing happened before, if it finds any, it looks what happened after that, and then tell you "x happened, last time x happened, y happened, be ready for that" and that's what charts are all about. I am not saying that it will be a good investment or anything like that, obviously we could have a bad result on this and could maybe face something bigger, but as long as this exists, I think reading charts and checking the indicators are a great way to trade. As they say, the key to foreseeing the future is examining the past. In Bitcoin trading, that translates to scrutinizing charts like a hawk. Sure, it might appear mundane. But believe me, there's an indescribable thrill in dissecting data, channeling your inner Sherlock Holmes. And if the tides turn, at least you enjoyed the ride, right? It's not often you morph into a detective, attempting to outwit the market. So, my friend, unleash those charts. And bear in mind – even if you don't hit the jackpot, you'll have a fantastic tale to share.
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gabbie2010
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April 16, 2023, 06:16:31 PM |
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I am a supporter of the idea that you need to be able to do various types of analysis, and this is what affects the results of the work. For example, I tried my hand at market analysis on a demo account of Amarkets broker so that it would not affect my results.
Both fundamental and technical analysis are important tools for aiding profitable trading it's good the OP knew technical analysis, however the OP will have to be kept abreast with latest news and reports related to trading because fundamental news drives the market positively or negatively, though some traders only utilized technical analysis based on candlestick patterns formed which reveal or predict the next likely trend of the market after the fundamental news after a through analysis, personally I tried to learn every detail related to trading of course the internet contain all the available information needed for trading.
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blockman
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April 16, 2023, 06:56:50 PM |
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In social media, you see a lot of that type of trader. They proclaim themselves as mentors to others but they don't really trade at all. They know the basics of trading and strategies with it but they don't actively trade and apply what they say. It's because they're not profitable traders and just stayed to be like an influencer but don't really do trades at all and that's how they find the bread and butter for themselves because that seems to be an effective way for them to earn some money out of the market without doing actual trades.
You figured it out very right. Social media influencers over the time have become millionaire or billionaire by teaching there followers skills which they haven't practised. In my country there is a crypto influencer, there is no proof of what he has earned in crypto trading, but his crypto signalling group generates around 100k$ turn-over for him. To me using your own mind is best strategy as it train your mind for future trading. It's because it's easy to create some enticing videos just showing off their so-called gains over time but will never show where they actually came from. This is the reason why many are misled by these influencers thinking that this market is too easy for anyone to make a profit even not having basic knowledge of crypto and trading. They're hyping the market without validating the resources they have and making it like an actual gain they make in trading, they might have some gains but they're not showing their losses which are more than what they're showing to their audiences. We're in the digital days where every content can be done online and can be sold depending on its niches like these fake signals and basic information that can be learned over time for free but these influencers making them look like they're the geniuses and not giving the real source of that information. As if they've learned it the hard time, showing a bunch of money bills and making emotional videos that will move the audiences as if they're the solution to their money problems and they've found it through crypto trading without reminding them that they can lose all of their money.
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molsewid
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April 16, 2023, 07:55:31 PM |
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there are several people that I know who is successful in trading that does not using TA in which I believe is optional as long as you knew to read and understand what is the project you are investing . because if you are putting money in Great project then the chance of losing is very tin, you may not earn instantly but in the long run? surely there is a positive thing to happen.
Yep, i think it is really okay not to use TA if it is not effective for you? then rather than using TA then try to use other techniques that can help, even simple candle stick reading is helpful. Some use different methods such as EMA and Vol, everyone can learn that it is just that if we are newbie we should stick to a good strategy at first and then as time passes by our knowledge will broaden.
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Hamphser
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April 16, 2023, 08:53:21 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
When dealing up on a volatile and unpredictable market then it is really just that right that you should really be that having some knowledge on using up some tools on which you could be able to make use while you do make up some trades because this isnt something like gambling which you could really just simply put up some bets and then roll out.We arent doing gambling which means that you would really be needing for you to make use of analysis which is something that would really be lessening up the risks involved because if not then you would really be definitely making lots of mistakes and errors towards your trades. You would be finding out for yourself on how important off these things on the time that you've decided on stepping your foot into this market and you would be able to know its relevance.
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teosanru
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April 16, 2023, 08:58:57 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 analysis is a basic requirement for any type of market trading on exchanges. It gives you historical data and is based on the fact that history repeats itself, so yes it's essential. Unless we are in a bull run and all the coins are going up, in such a case you'll see trading of little use as no matter where you put your money it's going up only.
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crzy
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April 16, 2023, 09:29:27 PM |
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It is vital and its meant to reduce the risk as you analyze when to buy and sell in the market. Trading is not complete without analysis not unless you do gambling then TA is not necessary. If you want to succeed in TA, you can also do FA so you can know what to buy as well. Trading is very risky, you have to do your part to be more effective because that is for your own benefit.
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Twentyonepaylots
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April 16, 2023, 10:24:14 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
Everything can be learned as long as it is always accompanied by perseverance, dedication, determination, and above all, passion. Because when you have all this, it is not unlikely that you will easily understand the so-called technical analysis when you are doing actual trading here in cryptocurrency. Because the knowledge of understanding technical analysis or whether it is fundamental, it is an advantage to an individual trader when you know how to read charts and analyze graphs, The thing with technical analysis is that you should really put an effort to learn and understand it. It is not that necessary in trading but it would be advantage for you to have these technical aspect of trading to be fully and deeply understand so you can make your trading be less risky. Being a trader really needs to make an effort whether understanding this analyses and making your own strategy because in the end its all up to you how you would read the market so that you can make much of the current situation of the economy to gain profit from trading.
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LogitechMouse
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April 16, 2023, 10:24:50 PM |
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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
Experts in trading know technical analysis, or at least they know how to read charts, and use indicators that will help them in their trading journey. However, learning technical analysis alone isn't enough for you to success. I'm not an expert in trading, but I tried crypto trading already, and what I will say is that it really is needed aside from the fact that you need to focus on the fundamental side as well because there are some news that can make the price of the coin go up significantly, and that would mean opportunity for you as a trader. On the other hand, TA isn't a must know because you can still use fundamentals to trade, and vice-versa. I guess learning technical analysis would be beneficial for you if you really want to give crypto trading most of your time. I mean if you really want to be a successful crypto trader then you must learn Technical analysis aside from the fact that you need to learn how to be emotionless when it comes to trading. When I was trading, I also use my gut whenever I'm making decisions. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Technical analysis isn't a vital thing when it comes to crypto trading, but it would be beneficial for you if you will learn it.
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Kelvinid
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win lambo...
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April 17, 2023, 11:17:56 AM |
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Well, if we want to succeed and reach our goal in trading, then we have to learn many crypto trading tools and so we should have to learn TA. It has to note that TA is one of the vital tools in trading. We don't have to do it instantly but we can learn this somehow gradually as we are in actual trading. We don't have to be perfect on TA as it was also impossible but at least having this stuff will help us a lot as to we have an idea of what we gonna do next - when to buy and when to sell.
- it is necessary - it is difficult to predict the market without TA While we are in trading, then it is a must also to learn Technical analysis or else, don't blame the market for why we lose but instead, blame ourselves for why we underestimate the market. Yes, there is no perfect TA, however, we do this as it was needed in trading and we come to this idea as it has a huge impact on making our decision.
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irhact
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April 17, 2023, 10:43:34 PM |
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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
Trading with just gut feelings is a very wrong way to trade cryptocurrency market, you're trading with emotions by doing so and we're advised against trading with our emotions as it can make you lose money very easily. If you understand charts then you should be able to predict the movement of the market, concentrate on understanding the charts. If you're able to make predictions from the charts then you can go far trading but you'll need more to become a professional. Technical analysis are very important to understand as that's what differential most traders from the average traders just using their gut feeling to gamble as trading.
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