Is Technical analysis a must know in crypto trading?

[panganib999]

Not really that integral if you’ll ask me. Technical Analysis to me is more of glorified predictions and less a surefire way to reap profits in trading. It basically just helps you create better predictions than not having it, and in the world of cryptocurrency industry where everything is as degen as it gets it doesn’t really hold that much weight cause every bloke with a bag of money could just buy and bloat a coin’s value like it’s nobody’s business. As with what happened to $PEPE. In my opinion, your sights should be set on other disciplines in the trading world like timing your buys and sells, diversifying your portfolio with coins that hold long-term relevance, as well as other IRL disciplines like self-control and avoiding FOMO. That’s where the real money is at.

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[sana54210]

Literally, there's nothing much anyone that calls himself or herself an investor/trader can do in this crypto industry without either having the knowledge of fundamental or technical analysis side of trading, if not both, whether you are a long term, mid term or short term Bitcoin/crypto holder or investor you need this basic knowledge because I wonder how you would succeed here as an investor/trader without the knowledge, except for the fact that you hire or employ market analysts which will also cause you some money to do so.
Literally you need to know when you should enter or exit the market without relying on someone else's analysis and to tell you what to do.

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

[Findingnemo]

No.

But if you're planning to become a trader then acquiring knowledge about it can be helpful in case if you need. To learn this you can just start with YouTube and practice what you saw in demo trading accounts and if increases your consistency then just keep learning and become a master at it.

[lalabotax]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

[doomloop]

Both can be combined and if we do that we can get better results, We can also copy other people's strategies if I'm not wrong for those people who don't want to learn technical analysis.

If you don't learn the strategy to trading then how can you know if you are copying the right trade or wrong trade? Copy trading is the reason some people assume trading to be the same thing as gambling because they only rely on the success of what they have copied from even unknown source instead of taking time to study and learn the market rudiment which is technical analysis. It is important that a trader learn that even though some rely on just fundamental but which ever way it better to have one of them as a trading strategy.

There is basically no need for someone to copy someone else's trades if they learn to do the analysis themselves, doing technical and fundamental analysis will give you an idea of the market and its movements so that you can place your trades accordingly, and someone who copies trades from others is basically trading illiterate and doesn't know how things work in the first place.

Just like you, I'm also not in favor of copying someone else's trades or following signals provided by someone either free or by charging money, you will have way more confidence if you are doing your trades on your own instead of copying someone else.

[beerlover]

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

That is the truth, too many people make that mistake and during bull run it looks like a good idea but in reality it is as bad as it gets and should be avoided as much as possible. People are going to end up with some sort of bad result if we keep this going but the reality is that they are going to stop during bear run and call these influencers fakers and scammers, but then when the bull run comes they are going to see few of them do fine, which is normal because we all do fine during bull run, and they are going to jump right back into their arms again.

It is easy to prevent people not follow influencers during bear run, we need to figure out a way to show how influencers are faking it during the bull run as well in order to protect these newbies.

[stomachgrowls]

I agree that you need to learn more about TA in order to trade and you would need to not just learn about it but also gain experience on it as well. I have said before, start with demo so that you could use it, and see if you are doing well, if you are then start small and grow eventually for your trades.

Too many people join the crypto world, read some influencers tweets, buy something and sell that based on what that influencer says. If they are right and they do make money, they start to put in even more, I have seen people turn 500 bucks into 5k and that made them so crazy that they took out a huge loan on their freacking house to do it, because they thought it would continue that way and lose all their money eventually. It's just not sustainable that way.

That is the truth, too many people make that mistake and during bull run it looks like a good idea but in reality it is as bad as it gets and should be avoided as much as possible. People are going to end up with some sort of bad result if we keep this going but the reality is that they are going to stop during bear run and call these influencers fakers and scammers, but then when the bull run comes they are going to see few of them do fine, which is normal because we all do fine during bull run, and they are going to jump right back into their arms again.

It is easy to prevent people not follow influencers during bear run, we need to figure out a way to show how influencers are faking it during the bull run as well in order to protect these newbies.

Be wary on whats happening around if we do speak about scams and frauds on which we should really be sensible at least on what in regards our actions because if we do act accordingly which is really that be based
up on what we are dealing with and of course trying out to avoid on things which you do seem odd and shady the there would be no possible problems that would be encountered. Speaking about TA, then it would really be always be that relevant because this is the common approach or the way you would really be dealing up with this market specially that it is really that truly unpredictable.

There's no way that you could be able to know on where it would be going on just simply seeing the price. If you wouldnt tend to know about TA, then how you would really be able to approach out
on trying to have that position here on this space? You cant really just fully rely with having pure guess and random decisions whether you would be buying or selling because this isnt
really how this market works nor behaves. You would really be needing that kind of approach to make yourself having that lesser risks.

[AmoreJaz]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.
i am also guessing that most old timers here started to trade without knowing any TAs, and then, just learned some later on in their trading journey. or better yet, some don't need TAs as they are using the knowledge what they acquired throughout the years.

[Fivestar4everMVP]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

[Mauser]

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 don't think that knowledge of technical analysis is mandatory for every trader. It can help a lot if we know about it, as it helps with identifying trends and decision making. But if we have no experience with, there are still other ways to analyse the market. One way is to trade on gut feelings, which is not a good idea. I would advice against making investment decisions based on emotions. There are basically 3 ways for traders to make their decisions, based on technical analysis, guessing or fundamentals. Especially for more long term focused traders it can be helpful to use mostly fundamentals for their decisions. As a more short term orientated trader I would definitely recommend you start looking into technical analysis. There are plenty of good books out there for beginners that can teach you a few easy to use indicators.

[ancafe]

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.

That means you have been on forum for quite a long time and should have had a lot of experience or could say that by now the standard of daily trading or long term investing has brought you to a conclusion.

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

From your whole story I don't think you are suitable for day trading because for day trading you need sharp analysis to read market movements and even though people can learn to know how. But you have been on the forum for almost two years and should have quite a bit of trading experience, so I conclude that you are better suited to be involved in a long term investment in bitcoin.

For daily trading in my opinion teknis analysis and fundamental analysis are important so that you can reduce the risk impact of the trades you run. When you place the standard of long term investing an understanding of technical analysis is not that important because all you need is to be calm when the market goes into a sharp downturn especially the investment you are making in bitcoin.

[Pamadar]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.
i am also guessing that most old timers here started to trade without knowing any TAs, and then, just learned some later on in their trading journey. or better yet, some don't need TAs as they are using the knowledge what they acquired throughout the years.

Most of the time experienced really teaches us to find ways to gain more knowledge and to continue our journey inside trading.

I see your point and it's undeniable that there are traders who at first they just place their position without knowing TAs
they might win some position and lose some till they learn more and seek for possibility to learn how to anticipate better,
if you really wanted to succeed, you needed to exceed in finding the right ways to invest and execute your trade.

[CapGelatik]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

it is very important for us to learn technical analysis especially in crypto currency which has high volatility,
before I knew and studied technical analysis I clearly only followed Fomo and the results I could not make a difference in my life,
and since I studied technical analysis I am grateful I can changed my life even I made a business in the real world.

[ZAINmalik75]

P.S I have really poor knowledge so I hope am not breaking any of the rules posting here.

No woory as you are not breaking any rule also you are at right place where you will get legit answer from experienced old member.

Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

No doubt it's important because Cryptocurrency are high volatile and  it's just like indicator which will help you for better Understanding of underlying trends ,patterns and also help you to make more informed decisions during trade of buy and sell.
But some time due to wrong or weak technical analysis mostly trader done lose so to avoid such kind of loss you should go for buying coins on the basis of  fundemental Analysis as there are less less risk like Bitcoin but the term is you should hold it for long term..
But for better understanding of  Technical Analysis you should visit here

[Coinworld.story]

Technical analysis is like a road sign for you, if you don't have a traffic sign when crossing a new lane, then you will get lost. Relying on hunches is ridiculous in trading, no gut feeling can predict it will go up or down. It's the same as playing gambling.

At least you have to have technical analysis even though it's basic, because it absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you won't be able to do it. it is easier to lose your money if you neglect technical analysis. If you have bad analysis you need to keep learning and understanding gradually, trade and you will gain experience and learning over time.

[Oilacris]

If you understand more about this, this will be very good and will actually really help in many ways, especially for determining at what rate to set positions or what cryptos to take. but basically, understanding TA is not enough, we also have to understand better how to deal with various fundamental problems which are also quite important to understand. And TA will help you with many things in market analysis. .

But, not all people care about this and still willing to learn adn understand about something new to them. So, they may be able to analyze whatever the market. and

the truth is, most people here don't care about TA. they learned how to trade without this knowledge. as long as you know what you're dealing with, you can execute your order. but if you want to improve your trading profits, better learn some of these TAs, if you want to reduce your losses.

Technical analysis is a very good feature in the trading market, but like said, most traders don't give a damn about it, but then again, we all must and know that, those traders who don't give a damn about technical analysis are the not so professional ones, any professional traders will never joke with technical analysis because it is from there we learn when to eventually buy or sell in the open market.

it is very important for us to learn technical analysis especially in crypto currency which has high volatility,
before I knew and studied technical analysis I clearly only followed Fomo and the results I could not make a difference in my life,
and since I studied technical analysis I am grateful I can changed my life even I made a business in the real world.

Having no knowledge about technical analysis is something that it isnt really that that complete because you cant just rely with news or fundamentals forever since we know that not all the time on

which this market do really have those news on which you would really be needing to have that technical approach which is something that you would be realizing on how its relevant.
Of course you would really be needing to know on how to make use of it and how to make out analysis out of it.Although it might not really that something you could really rely on
because precision is never been known but somewhat it is really that relevant for you to have this kind of approach on things because price is way too unpredictable and there's
no way that we could tell on where it would be going.

Doesnt matter whether you do use TA or FA only or having both combinations as long if you do see this to be beneficial then it would really be your call on what you would gonna use.

[Bushdark]

Technical analysis is like a road sign for you, if you don't have a traffic sign when crossing a new lane, then you will get lost. Relying on hunches is ridiculous in trading, no gut feeling can predict it will go up or down. It's the same as playing gambling.

At least you have to have technical analysis even though it's basic, because it absolutely must be known by anyone who wants to be involved in the world of trading, without analysis you won't be able to do it. it is easier to lose your money if you neglect technical analysis. If you have bad analysis you need to keep learning and understanding gradually, trade and you will gain experience and learning over time.

There is no way we want to become a trader without know technical analysis because it anchors those things we are going to be seeing in the market chart just like the candle stick, graphs, indicators and other tools that are necessarily to be use as a trader. All traders need to have good ideas about the technical analysis or else lose focus that will not be adequate for one to trade the market and make profits. Those of the mighty and pro traders we are seeing in the market, they learn trading to the core especially the technical analysis that is used mostly in trading as an important tools.

[omgitsmehehe]

Learning from a legit source and getting the require tool for trading the market independently, it's a gradual process with estimated budgets.  Ofcourse technical analysis is the one important thing we should as traders, there's no time for reluctancy. Technical and fundamental analysis are the two basic concepts a trader must know before going into trading. It's definitely a complex path concerning trading but the newbies and pro traders ought to know the basic necessities of trading, I'm already acquainted with these trading strategies.

[awik p]

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

[RajeshKarwa]

In trading, technical analysis is very important but is not flawless. It should be utilised with fundamental analysis and risk management measures. Many traders utilise technical analysis to make educated judgements about whether to purchase or sell assets.

TA entails analyzing previous price and volume data to detect patterns, trends, and probable future price changes. It allows traders to evaluate market mood, support and resistance levels, entry and exit positions, and other factors.

Thanks !!