How important is it to understand the charts for investing in any cryptocurrency? Can or should you invest without knowing them?

[Kaffyfolla]

In order to get the most out of your trading experience, reading and understanding charts is an essential skill. For seasoned traders, this is something that comes easily with the countless hours spent reading and deciphering patterns and charts. For someone who is new to space, learning technical analysis can be a daunting task and quite intimidating.

In order to have a better understanding of technical analysis, it is important to know the fundamental ideas behind Dow Theory which has developed over the last 100 years to be the foundation for technical analysis. The theory states that the main movements may last from a year to several years and they may be Bullish (rising in value) or Bearish (losing value). It also states that news can alter market conditions and that crypto prices quickly incorporate new information as soon as it becomes available. The movements in price are also not random and follow trends and these trends will continue until definitive proof confirms that they have ended. One last piece of information form the Dow Theory is that Stock market averages must confirm each other and that volume is just as important as the price

 

[Sariana23]

You better understand everything clearly before going into it. It is very important to read and understand them,not understanding them is just like speaking to a deaf man he will definitely not understand anything.

---

Of course, there are many recommendations I have received on the subject, the most predominant being the need to understand the charts so as not to incur losses.

There are different ways to source for signals before you trade in forex and cryptocurrency other than using chart. I have a friend who make use of breaking news to invest in cryptocurrency and Forex.

It is true, I have a friend who also invests in cryptocurrencies, just with the information of online news. So far he has done well, although he told me that he will start doing more research to learn and have two points of view.

I dont really know much about reading chart to study and understand crypto currency coin before investing , I just banked on the little knowledge i have about crypto currency and just invest.

That's what I did, of course I didn't plan to invest until I started to get paid in Litecoin and I have had my benefits. Now I am evaluating whether to stop or withdraw my payments from the cryptocurrency.

In order to get the most out of your trading experience, reading and understanding charts is an essential skill. For seasoned traders, this is something that comes easily with the countless hours spent reading and deciphering patterns and charts. For someone who is new to space, learning technical analysis can be a daunting task and quite intimidating.

In order to have a better understanding of technical analysis, it is important to know the fundamental ideas behind Dow Theory which has developed over the last 100 years to be the foundation for technical analysis. The theory states that the main movements may last from a year to several years and they may be Bullish (rising in value) or Bearish (losing value). It also states that news can alter market conditions and that crypto prices quickly incorporate new information as soon as it becomes available. The movements in price are also not random and follow trends and these trends will continue until definitive proof confirms that they have ended. One last piece of information form the Dow Theory is that Stock market averages must confirm each other and that volume is just as important as the price

Interesting your information @Kaffyfolla, it is really very complete your review of the importance of graphics and the changes that happen in it. Something that has caught my attention is that "news can alter market conditions" although it is very sound information, I did not know it was part of Dow's theory, thanks for your input.

 

[Immilash]

Of course, there are many recommendations I have received on the subject, the most predominant being the need to understand the charts so as not to incur losses.

It is true, I have a friend who also invests in cryptocurrencies, just with the information of online news. So far he has done well, although he told me that he will start doing more research to learn and have two points of view.

That's what I did, of course I didn't plan to invest until I started to get paid in Litecoin and I have had my benefits. Now I am evaluating whether to stop or withdraw my payments from the cryptocurrency.

Interesting your information @Kaffyfolla, it is really very complete your review of the importance of graphics and the changes that happen in it. Something that has caught my attention is that "news can alter market conditions" although it is very sound information, I did not know it was part of Dow's theory, thanks for your input.

That's it. I have never invested on cryotocurrency but I think it would be great to understand be the charts before investing. But if I may ask you, do you invest without knowing the charts?

 

[tyrim88]

It is very important that you understand every thing about what your are doing in cryptocurrency. If you are investing you can invest without knowing how to use the chart but if you are trading then you have to go ad learn how to use the chart before you can start trading

That is just the basic thing to do,because except you are buying and storing for future appriciation,you really need to learn about the chart table and the dynamic fluctuations in the market if you must do daily trading.

 

[Sariana23]

That's it. I have never invested on cryotocurrency but I think it would be great to understand be the charts before investing. But if I may ask you, do you invest without knowing the charts?

The truth is yes @Immilash, I started receiving my payments in cryptocurrencies and accumulated them in my wallet. When I decided to withdraw the money I had doubled the amount which gave me great satisfaction. Although I don't know the charts very well, I was guided by the price of the crypto.

 

[Immilash]

The truth is yes @Immilash, I started receiving my payments in cryptocurrencies and accumulated them in my wallet. When I decided to withdraw the money I had doubled the amount which gave me great satisfaction. Although I don't know the charts very well, I was guided by the price of the crypto.

That's very great. If you can understand how to invest without knowing the charts it still well. All we are trying to avoid is failure. If you would invest without knowing the charts and without failing it still ok.

 

[HayKay]

It's never advisable to invest in any business venture without knowing anything about it not to talk of a terrain as volatile as crypto.
Don't ever enter without understanding the rudiments. Trading is even worse off.

 

[Emmy]

I also don't understand the chart because I'm not into trading. Only those that vast knowledge about crypto know about the chart and how the trade goes. I only stick to investment which is very small also.

 

[Sariana23]

That's very great. If you can understand how to invest without knowing the charts it still well. All we are trying to avoid is failure. If you would invest without knowing the charts and without failing it still ok.

I had always refused to invest in cryptocurrencies, despite advice from friends and recommendations from forum members. When I saw the need to receive them I started to show interest, even so I do not have enough knowledge to operate.

It's never advisable to invest in any business venture without knowing anything about it not to talk of a terrain as volatile as crypto.
Don't ever enter without understanding the rudiments. Trading is even worse off.

You are absolutely right, one should not invest without knowledge, in my case I had no choice and in the end I made a profit. Now that I have a little more interest, I have been researching and learning little by little.

I also don't understand the chart because I'm not into trading. Only those that vast knowledge about crypto know about the chart and how the trade goes. I only stick to investment which is very small also.

For now, I am just like you, with small investments and waiting for the right moment to withdraw the profits.

 

[Immilash]

I had always refused to invest in cryptocurrencies, despite advice from friends and recommendations from forum members. When I saw the need to receive them I started to show interest, even so I do not have enough knowledge to operate.


You are absolutely right, one should not invest without knowledge, in my case I had no choice and in the end I made a profit. Now that I have a little more interest, I have been researching and learning little by little.

For now, I am just like you, with small investments and waiting for the right moment to withdraw the profits.

That's interesting. If im the one I don't think iwill make profits. I'm the type that seeks ideas before venturing into anything but for you it seems like there's no need to have enough idea before investing.

 

[Sariana23]

That's interesting. If im the one I don't think iwill make profits. I'm the type that seeks ideas before venturing into anything but for you it seems like there's no need to have enough idea before investing.

I don't think I made myself clear, I did not invest. In the forum, I was paid in cryptocurrencies and I left them there, which left me profits. Now every time I receive the coins I leave them for a considerable time, as long as it is on the rise. Otherwise, I change them to stable currency or dollar.

 

[Immilash]

I don't think I made myself clear, I did not invest. In the forum, I was paid in cryptocurrencies and I left them there, which left me profits. Now every time I receive the coins I leave them for a considerable time, as long as it is on the rise. Otherwise, I change them to stable currency or dollar.

That's great. But to get Frank I don't really understand what you are saying I don't understand the point you are trying to make can you explain again please.

 

[greenie]

I don't know if my online friends who are fans of crypto coin are using that chart. But some of them said that they are tracking the trend and trying to predict if the direction of the trend is going up or going down. That is most likely without the benefit of the crypto chart.

 

[Sotherefore]

There is no need for people to understand the chat before they can invest in cryptocurrency but you only have to look for a good entry point to invest that is just all, you don't invest when the coin has increased massively... You don't really have to most especially if you are investing for long-term purposes.

 

[Sariana23]

That's great. But to get Frank I don't really understand what you are saying I don't understand the point you are trying to make can you explain again please.

I did not mention Frank, as you describe.
I leave my profits in the wallet for a while, when it goes up, I withdraw my profits. I hope you understand that.

I don't know if my online friends who are fans of crypto coin are using that chart. But some of them said that they are tracking the trend and trying to predict if the direction of the trend is going up or going down. That is most likely without the benefit of the crypto chart.

This is what I have done so far. But it never hurts to learn a little about everything, including graphics.

There is no need for people to understand the chat before they can invest in cryptocurrency but you only have to look for a good entry point to invest that is just all, you don't invest when the coin has increased massively... You don't really have to most especially if you are investing for long-term purposes.

So far the amount I have in my wallet I leave it while the currency goes up, then I change it to dollar. I don't trade, I just hope to increase my earnings.

 

[Syldan]

Well, it's most often discussed, that knowledge is one of the most essential elements which makes a business or any form of investment to give a positive result. Without knowing much about the cryptocurrency, you may end up at lost.

 

[Good-Person]

I think that understanding how the cryptocurrency markets work is the main thing you must know before you start trading in cryptocurrencies and understanding and reading the charts is the key to analyse the price of coins in a proper way. However, when it comes to cryptocurrencies, nothing is guaranteed and the predictions of many experts could turn out to be incorrect.

 

[Syldan]

It's not a better idea or advisable for anyone to invest into any form of cryptocurrency of which he has no idea or knowledge about how it works. He may end up losing if not all his money without profit.

 

[Laurentta]

It is mainly important to understand charts when trading with crypto currency and not when investing in it. However IG will do you no harm to also learn about the charts.

 

[Kaffyfolla]

Cryptocurrency isn’t just a novel investment option, and in many ways represents a different world altogether compared to traditional stocks and bonds. Between unfamiliar acronyms, emerging technologies, and keeping up with memes and tweets, just learning the basics takes time, even for seasoned traditional investors.