Chart reading really necessary in trading.

[Honny143]

First and foremost, I am not a trader; I am a crypto investor who buys coins on dips. My question is whether chart reading is necessary in crypto trading because so many professional traders use these charts before making any trades, and they predict market conditions up to 70% accurately using these charts. Is chart reading helpful in trading? If you know of any other strategy where we don't need chart reading and can make money from trading, please comment below.

 

[Heatman]

Yes, whenever you want to trade, it's very important that you do your charting diligently. You must understand price movements in order to know where is going to be your perfect entry into any trade and also know where to put your stop loss and take profit.

 

[Honny143]

Yes, whenever you want to trade, it's very important that you do your charting diligently. You must understand price movements in order to know where is going to be your perfect entry into any trade and also know where to put your stop loss and take profit.

Yes sir, when any professional trader reads the chart, he knows the market conditions through candles. Candle colour pattern is key in chart reading. If any candle indicates green or red, according to the current candle color, traders put their order long or short, and almost 10 out of 7 or 8 trades pass. In this way, they make a huge profit from trading.

 

[Bookwormlux]

It is really necessary, especially for those who want to know what they're doing. If you don't care and want to go about things recklessly, then you can ignore the charts.

 

[tyrim88]

When it comes to cryptocurrency the strategy you put in might be quite different from what the other traders,so you choose the one that you can.

 

[Danny4cash]

Im not a trader but I have some experience in bitcoin trading and forex trading. And I have many friends who are trading bitcoin. I don't there's other strategy to trade than reading chart. Reading chart is not necessary. It's only done to understand market trend.

 

[Genie01]

There are traders that have their specialty in trading the news ,they may not usually check the charts but would just make their decisions based on the fundamental figures. But it is always advisable to combine both for better outcome.

 

[UsmanAmoyo]

For those that want to be profitable in the long term, it is very necessary to learn how to read and interprete the charts , it would save one from unnecessary loses and make the system more profitable.

 

[Treborika]

To be honest enough I don't do trading. I consider trading to be more risky and somehow gambling like. However the folks that do it have it saying that chat reading while trading do help them

 

[Genie01]

To be honest enough I don't do trading. I consider trading to be more risky and somehow gambling like. However the folks that do it have it saying that chat reading while trading do help them

Don't get it wrong,There is a strict line between trading and gambling.
Trading is a skill and it is a profession and not gambling.
The truth is, we use statistical probably to make profits.

 

[Imran_Noori]

Don't get it wrong,There is a strict line between trading and gambling.
Trading is a skill and it is a profession and not gambling.
The truth is, we use statistical probably to make profits.

Yes It is true, all of the professional traders use some strategies and graphs before trading but for a beginner a wise choice would be investment, it needs time to learn trading.

 

[HayKay]

Except you want to trade the news or market volume, you'll need to trade using the charts or learn chart analysis at the very least. Patterns can be formed and studied when movements are observed across time.

 

[Bigron]

First and foremost, I am not a trader; I am a crypto investor who buys coins on dips. My question is whether chart reading is necessary in crypto trading because so many professional traders use these charts before making any trades, and they predict market conditions up to 70% accurately using these charts. Is chart reading helpful in trading? If you know of any other strategy where we don't need chart reading and can make money from trading, please comment below.

Chart reading is an essential aspect of cryptocurrency trading which sometimes goes under the radar, in my opinion. The charts give you a fair idea of how the market is doing and enables the trader to predict patterns which can be used to gain profit

 

[Genie01]

Chart reading is absolutely essential I believe,
This is coupled with the fact that the new always paints in the direction of the charts and it would definitely help one in making profits.

 

[GoldenLady]

First and foremost, I am not a trader; I am a crypto investor who buys coins on dips. My question is whether chart reading is necessary in crypto trading because so many professional traders use these charts before making any trades, and they predict market conditions up to 70% accurately using these charts. Is chart reading helpful in trading? If you know of any other strategy where we don't need chart reading and can make money from trading, please comment below.

I use RSI and candlesticks, trying to modify the strategy. It's true that a lot of information is in the charts as well. Knowing technical analysis is one of the key things that would ensure your success as a crypto trader.

 

[UsmanAmoyo]

I use RSI and candlesticks, trying to modify the strategy. It's true that a lot of information is in the charts as well. Knowing technical analysis is one of the key things that would ensure your success as a crypto tr

I have used RSI coupled with bollinger bands before but it doesn't just work well for me.
It was after discovering about ICT and smc that I became profitable.

 

[Setho]

There are so many things that you can see and interpret in the charts and as such you should be somebody who can understand candlestick patterns and bullish or bearish signs.

 

[Sotherefore]

As an investor you may not really need it but as a trader there is no how you will be able to trade the market without putting the chart into consideration. In that case you will be trading blindly.
For investors you may not really be in need of the chart but for traders there is no how you will be trading without the use of chart, if not then you will be trading blindly.

 

[tyrim88]

Yes, whenever you want to trade, it's very important that you do your charting diligently. You must understand price movements in order to know where is going to be your perfect entry into any trade and also know where to put your stop loss and take profit.

Definitely on the trading platform if you really know how to read chart very well,it will be an advantage to use it and study how the market will go,some other persons would have their own startegy like percentage increase or decrease in price.

 

[Sincerem]

Yes professional traders will use it when they are trading the crypto-currency market and every traders who is willing to take trading as their professional career should be familiar with chart Reading