Chart reading really necessary in trading.

[Prince]

No matter what asset you are trading, you need to know how to follow charts. The ability to read trading charts is part and parcel of trading, and the more you understand about technical analysis, the better a trader you can become. Like all things in life, the more you practice, the more you enhance your skills.

 

[Alisco]

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 sir forex trading is not a gambling it's professional way of making money digitally with foreign currencys, agreed. But what can you say about Binary in forex?

 

[Genie01]

Binary options is like hitting the casinos.
I have tried gambling and I have come to understand that I am not a good gambler, the results in. Gambling are not sustainable in the future.

 

[tyrim88]

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.

In Bitcoin trading an investor can decide to use any strategy that he deem fit to use in the cryptocurrency market,but the use of chart is one of the strategy that any good trader would want to study and then take a market position.

 

[eenya00]

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.

You also need to understand fundamental analysis which is very important as well as this would determine your success to a large extent on this crypto space

 

[Georgeadawara]

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.

Yes you're pretty right and correct about saying this, because in all form of trading, been it cryptocurrency or forex trading it needs one to read chart in other to make analysis.

 

[eenya00]

I believe that chart reading is very important in crypto currency trading but I do not know if some pro traders normally make use of it while trading but it is a very useful tool for trading

 

[tyrim88]

Yes you're pretty right and correct about saying this, because in all form of trading, been it cryptocurrency or forex trading it needs one to read chart in other to make analysis.

That is just one among the various strategy that a trader can employ to tackle the market,that would be if you have mastered how the market move by properly interpretation of the chart in the market.

 

[Georgeadawara]

That is just one among the various strategy that a trader can employ to tackle the market,that would be if you have mastered how the market move by properly interpretation of the chart in the market.

Yes you're absolutely right, The market is lucrative and is base on the theory of demand and supply, which said the higher the demand the higher the price and vice versa, that's why proper analysis is needed.

 

[tyrim88]

Yes you're absolutely right, The market is lucrative and is base on the theory of demand and supply, which said the higher the demand the higher the price and vice versa, that's why proper analysis is needed.

That is one of the reason that makes the price of cryptocurency to always rise of fall,the demand and supply is one of them,then the aspect of government policies of a particular country is another.

 

[Alisco]

Binary options is like hitting the casinos.
I have tried gambling and I have come to understand that I am not a good gambler, the results in. Gambling are not sustainable in the future.

I have learn about the binary options In forex,the whole trade looks more of gambling because it's more of production and probability. Is there any difference between binary options and gambling?

 

[Genie01]

There is a wide difference between the two. In trading you can replicate the results and the results are under your control. But in binary options it isn't the case

 

[Gandiba]

It is not just necessary, but something that is always important in our being able to become what we are today.

We need to focus so much on greater value trading reading charts.

 

[Smiles20]

There is no way you are going to be a successful trader if you do not know the basics like support and resistance. Having a good knowledge of the chat is very important.

 

[Setho]

A lot of the things that you need to know like buying and selling zones are better indicated on the trading chart. This is why it is actually useful for you to spend some time to learn it.

 

[Gandiba]

It is necessary because it guide you on making the right decisions since you get to interpret what is happening to the market. It is one of the most essential things in trading bitcoin.

 

[Nomad]

In order to become a successful trader, you are required to have knowledge of the market. You wll know about the market only when you can read and understand the signals. Trading is not just about being low and selling high, you need to have the ability to understand when the market is low and when it will go high.

 

[Planbizzle]

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.

Trading professionals may find chart reading to be a useful technique for market research and trying to predict price moves. Trading decisions can be enhanced by searching for trends or patterns in the charts that might give traders information into the path of price fluctuations.