Is Technical analysis a must know in crypto trading?

[tygeade]

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.

It doesn't have to be just experts, I would say "people who are on the way to be an expert" could be also considered as well. I know that it is not going to be easy for any of us to be an expert overnight but we could simply just learn TA and that means we are on the way to become one.

Obviously it will take some time but when the time comes we are going to reach there and which is why we should be learning it, without ever learning TA then we can't ever be experts so we are not even on the way of being one. I rather be an expert, but if I can't be an expert then at least I would love to be on the way to become one instead of just doing nothing and staying idle about it. This is why learning TA is a big step forward to be a lot better at trading.

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[stomachgrowls]

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.

It doesn't have to be just experts, I would say "people who are on the way to be an expert" could be also considered as well. I know that it is not going to be easy for any of us to be an expert overnight but we could simply just learn TA and that means we are on the way to become one.

Obviously it will take some time but when the time comes we are going to reach there and which is why we should be learning it, without ever learning TA then we can't ever be experts so we are not even on the way of being one. I rather be an expert, but if I can't be an expert then at least I would love to be on the way to become one instead of just doing nothing and staying idle about it. This is why learning TA is a big step forward to be a lot better at trading.

There's no such thing about having a path to be that easy on making yourself to be an expert.There's no such thing about shortcuts when it comes to learnings and you would really be needing to pass up all the possible

challenges and things to be on the way on making yourself way more better.We know that TA's might not really that 100% precise but its not something that you should neglect on specially when you are dealing with
this  market. You cant really be that so confident and trying out to make price speculations without any tools that you've been using.

On this way then you are just simply doing gambling if ever you do make out some trading decisions without any basis and its not something that you should really minding on.

[JeffBrad12]

Technical Analysis certainly helps, I know that many of the traders in term of expanding their knowledge are always hesitant since it's gonna take tremendous effort and that's true, even if you know the technical analysis it certainly doesn't guarantee that you gonna be successful since nowadays coin aren't really following general TA anyway. but knowing technical analysis will certainly helps in some case if you could recognize some pattern, then you could make decision accordingly, nowaday TA has become the tool of whales knowing whats the individual traders are gonna be doing so they could drain these individual traders money.
but i'd say, whether TA is a must know, then I'd say not really, mainly because you could do fine with just right positioning, even in investing it will be less relevant.

[GeorgeJohn]

Can I learn myself or is important I about them from a professional?

You can learn on your own, what is needed in all these, its concentration and consciousness,  so many people do acquire theirs knowledge in any thing they are doing through online education not manually,  but if you know the one that will be preferable to you, you can as well and do it.

[wxa7115]

Can I learn myself or is important I about them from a professional?

You can learn on your own, what is needed in all these, its concentration and consciousness,  so many people do acquire theirs knowledge in any thing they are doing through online education not manually,  but if you know the one that will be preferable to you, you can as well and do it.

The optimal path is to learn from someone else, as they can protect you from making a great deal of mistakes which end up costing newbies a massive amount of money.

However finding such a person is incredibly difficult, to begin with you will need someone close to you to be an expert trader, and if that was not difficult enough you will also need for that person to be willing to teach you, which is not common at all as people remember very well how much it cost them to acquire the knowledge they have and they are not willing to part with it for free.

[Bushdark]

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 very good when we learn the necessary things we need to know for us to be a good trader in the crypto market. There are many things to learn from the market and if we are too much of a hurry, we might not get the full knowledge that is a prerequisites for us to be a good traders. It is good for us to have a strong knowledge in technical analysis so that we are not going to be confused about the market and what the market is currently doing. Technical analysis is a must to learn as a trader in the market because is containsost it the vital things we need to know.

[Baoo]

Technical Analysis certainly helps, I know that many of the traders in term of expanding their knowledge are always hesitant since it's gonna take tremendous effort and that's true, even if you know the technical analysis it certainly doesn't guarantee that you gonna be successful since nowadays coin aren't really following general TA anyway. but knowing technical analysis will certainly helps in some case if you could recognize some pattern, then you could make decision accordingly, nowaday TA has become the tool of whales knowing whats the individual traders are gonna be doing so they could drain these individual traders money.
but i'd say, whether TA is a must know, then I'd say not really, mainly because you could do fine with just right positioning, even in investing it will be less relevant.

That’s a great point of view. Furthermore, technical analysis is one the key to succeed in trading field but it does not guarantee a profit. In fact, It is really important to do some researches in the beginning and understand what trading crypto is  also it is essential to learn the crypto market and the way to read charts, after that try to set or build multiple strategies. In addition to that, it is preferable to start with a low capital and choose a solid decentralized exchange and with practice you will definitely gain more experience at the moment you boost your capital. Always take it step by step and make it simple without making hasty decisions.

[savetheFORUM]

The optimal path is to learn from someone else, as they can protect you from making a great deal of mistakes which end up costing newbies a massive amount of money.

However finding such a person is incredibly difficult, to begin with you will need someone close to you to be an expert trader, and if that was not difficult enough you will also need for that person to be willing to teach you, which is not common at all as people remember very well how much it cost them to acquire the knowledge they have and they are not willing to part with it for free.

It's obviously difficult to find someone who is willing to teach you all the tips and tricks and the special technical techniques without charging you a dime. In a world like today where people open free groups to teach people trading or give trading signals only to promote their premium groups where people will need to pay money to get so-called VIP signals.

So it's probably better if someone takes the oath to learn everything by themselves by watching videos or reading articles or other resources if they can't afford to pay the fees charged by the mentors.

[tvplus006]

The optimal path is to learn from someone else, as they can protect you from making a great deal of mistakes which end up costing newbies a massive amount of money...

A beginner has to pay for his ignorance. And he faces a dilemma, either spending his money on training, or paying off each time on transactions that have brought a loss. And despite the fact that the answer is obvious here, the beginner is still trying to do self-study, since he is still confident that this way he will save his money.

[Renampun]

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

I'm sure there is a lot of advice given to you through posting on your topic and it is very important (technical analysis) apart from that another thing that is very important in trading is the fundamental factor, this is to prevent you from making investments that are not as they should be and You can read a little about the fundamental factors in the article below;

Cryptocurrency investing can be a great way to diversify investments, but figuring out which cryptocurrency is suitable and which isn’t can be challenging. To make an informed investment decision, it is important to know how to analyze cryptocurrencies.

source--

technical + fundamental analysis are two very important things in trading (not only bitcoin trading but altcoins trading too) so don't get tired of continuing to learn and increase your knowledge about trading because everything that is successful in trading now comes from zero knowledge.

[sana54210]

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 very good when we learn the necessary things we need to know for us to be a good trader in the crypto market. There are many things to learn from the market and if we are too much of a hurry, we might not get the full knowledge that is a prerequisites for us to be a good traders. It is good for us to have a strong knowledge in technical analysis so that we are not going to be confused about the market and what the market is currently doing. Technical analysis is a must to learn as a trader in the market because is containsost it the vital things we need to know.

I agree, if you want to make money right away then you are going to lose money right away. There are too many people who do not understand that as a concept. You need to take your time and make a profit whenever you can and that should be the common thing for you.

If you end up not making any money that is because you rushed into it. However, if you decide to take your time and focus on what you could do with what you have, then you could make a lot more profit. Just learn TA and learn anything else you can, learn everything you can, and you will gradually become better and better. In that situation when you start to trade for real, then you will know what to do and you will be able to make an income from it as well.

[duckalis]

If you want to go a little deeper into technical analysis, I recommend reading such useful books as:
"Currency Trading For Dummies" by Brian Dolan;
"Trading Chaos: Maximize Profits with Proven Technical Techniques" by Justine Gregory-Williams and Bill M. Williams;
"Trend Following: How to Make a Fortune in Bull, Bear, and Black Swan Markets" by Michael W. Covel.

[carlfebz2]

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 very good when we learn the necessary things we need to know for us to be a good trader in the crypto market. There are many things to learn from the market and if we are too much of a hurry, we might not get the full knowledge that is a prerequisites for us to be a good traders. It is good for us to have a strong knowledge in technical analysis so that we are not going to be confused about the market and what the market is currently doing. Technical analysis is a must to learn as a trader in the market because is containsost it the vital things we need to know.

I agree, if you want to make money right away then you are going to lose money right away. There are too many people who do not understand that as a concept. You need to take your time and make a profit whenever you can and that should be the common thing for you.

If you end up not making any money that is because you rushed into it. However, if you decide to take your time and focus on what you could do with what you have, then you could make a lot more profit. Just learn TA and learn anything else you can, learn everything you can, and you will gradually become better and better. In that situation when you start to trade for real, then you will know what to do and you will be able to make an income from it as well.

When you are on haste or simply being hasty on whatever you've been dealing with then you are really that susceptible into lots of errors and mistakes which would case up lose of money and this is why you should really be that mindful on using up things which would really be relevant in towards onto the career that you are pursuing ex. trading on which it would really be that relevant that you would make use of
technical indicators because you cant really just simply trade on this market without having these kind of consideration of using up these tools and indicators which it would be simply be pertaining that you are
just playing gambling all along. Its not something that you can just simply put up a position and wait for some positive results, it doesnt work on that way.

[South Park]

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

Would you dare to fly a plane without going through pilot school, practice on simulators and practice  your flying skills with a teacher? If your answer is no then why is that the case? Because you will crash, right? Now imagine the same when it comes to trading and technical analysis and you will have your answer, if you want to become a trader you have no other option but to learn how to read the charts and learn how to combine the different indicators into some coherent strategy, otherwise you will have no hope of success at all.

[Natalim]

And one way for a trader to become successful in this carrier is to prepare themselves.
 - learning TA
 - chart reading
 - time-frame

There are a lot of things that we need to do OP but the important thing that we need to master is to learn Technical Analysis as it weights more than any trading tools.

Perhaps, you can try OP without TA. Maybe in this way you could appreciate how important it was when you are in actual trading.

[death69]

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

Would you dare to fly a plane without going through pilot school, practice on simulators and practice  your flying skills with a teacher? If your answer is no then why is that the case? Because you will crash, right? Now imagine the same when it comes to trading and technical analysis and you will have your answer, if you want to become a trader you have no other option but to learn how to read the charts and learn how to combine the different indicators into some coherent strategy, otherwise you will have no hope of success at all.

Would I dare venture into piloting without flight school, simulators, or practice, given my vertigo on a humble seesaw? I reckon that's a deafening no. But trading? Oh, my confidence soars. Sure, no "trader academy" or countless hours dissecting charts and technical analysis for me. But who requires that when armed with a fortuitous rabbit's foot and gut instincts, right?

Alright, I jsut kidding (sort of). Truth be told, there's no express lane to triumph in trading. Similar to aviation, it demands time and dedication to hone skills and acquire knowledge. Mastering chart interpretation and technical indicators, you can concoct a logical strategy, elevating success chances. Undoubtedly, risk is inescapable, but the proper tactics minimize losses and amplify gains.

So, trading enthusiasts, ditch luck and intuition. Embrace hard work, acquire prowess, and rocket toward prosperity!

[TheGreatPython]

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

main points are Technical analysis is also a must in the crypto market and it is a principles  also applied, For me I use it to learn what the emotion of the market is and how the price cap of crypto currencies will be affected.

Though emotions and market sentiments play their role too, technical price analysis is an integral part of trading cryptocurrencies or any other asset or commodity. One who is interested in trading cryptocurrencies will definitely need to learn all the ways and techniques that one can use to gain more profits or have an idea of when to buy and sell.

Going only with market sentiments might turn out to be negative sometimes, so combining both market sentiments with technical analysis can give you an understanding of how the price can react and where it will move next.

[Bushdark]

Technical analysis is a good tools that traders had been using in trading for so long before now and we need to make sure that we as a trader we need to know what technical analysis is and how to use it. This is a big topic in the market as a trader we need to know what we are doing or else we might not have good understanding about the market. Technical analysis constitute a lot to information we need to know about market structure and how they tend to form and give the market what it look like on a normal day.

[bitgolden]

The optimal path is to learn from someone else, as they can protect you from making a great deal of mistakes which end up costing newbies a massive amount of money.

However finding such a person is incredibly difficult, to begin with you will need someone close to you to be an expert trader, and if that was not difficult enough you will also need for that person to be willing to teach you, which is not common at all as people remember very well how much it cost them to acquire the knowledge they have and they are not willing to part with it for free.

It's obviously difficult to find someone who is willing to teach you all the tips and tricks and the special technical techniques without charging you a dime. In a world like today where people open free groups to teach people trading or give trading signals only to promote their premium groups where people will need to pay money to get so-called VIP signals.

So it's probably better if someone takes the oath to learn everything by themselves by watching videos or reading articles or other resources if they can't afford to pay the fees charged by the mentors.

I did that, I mean I didn't do the teaching, I did the learning part. I met with a friend via crypto, and he helped me learn about it all. I hate learning from videos or from texts, because I can never learn anything about it. But when it comes down to learning from someone? Like actually being able to ask questions to that person when you do not understand something, that is a totally different situation.

With text or video there is no return, I may not understand something and all I can do is read it again or watch it again, but when there is another person then you can ask the question and they will answer you properly, or find another angle to help you. This is why learning from someone is much better if you trust they are actually good.

[Quickex Exchange]

It's not an absolute must-know, but it's definitely helpful. By studying past market data like price movement and trading volume, we can make better decisions about potential future price movements, identify trends, and decide when to buy or sell.

However, traders who focus more on fundamental analysis tend to be more succefull, which looks at the underlying value of an asset, considering factors like project development, adoption, and market sentiment. In the end, whether you use technical analysis, fundamental analysis, or a mix of both really depends on your individual trading style and preferences.