It's not good to invest in what you don't know that's why it's always advisable to know what you are investing in so that you will not regret investing in it.
How important is it to understand the charts for investing in any cryptocurrency? Can or should you invest without knowing them?
- Thread starter Sariana23
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- Thread starter
- #82
It is a very good advice, "you should invest in what you know" however, according to some members to invest is not necessary to know the charts, they are necessary to trade.
Knowing the charts well is not a prerequisite to make money from cryptocurrency because you can invest on the popular ones like Bitcoin and make profit.
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You are right. It's not really good to invest in something that you don't really know like the price chart reading of cryptocurrency. The secret for success in cryptocurrency is buying low and selling high.
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Seriously, from where does Dan Brown have a human beings behave there is no way you're going to be able to please and satisfy everybody but as long as there are few people who standing in back you don't really have anything to worry about.
Seriously, from where does Dan Brown have a human beings behave there is no way you're going to be able to please and satisfy everybody but as long as there are few people who standing in back you don't really have anything to worry about.
That is the best thing, without doing this we would only be gambling with our hard earned money. Then end up running into consistent losses.
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Following cryptocurrency charts can be exhausting. What I would advise is to rather take note of strong projects especially Bitcoin and Ethereum if you want to leave your money for up to a year as crypto.
It's very good and Important understand the charts because venturing into cryptocurrency fully but it's not a must before you invest.
- Thread starter
- #89
Thanks for your advice, I'm on it for now, I've had the investment for a while now and hope to leave it there. However I was curious about the charts and the importance of knowing them.
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Anyone who just ignorantly invest into any business, crypto included without first having at least basic knowledge should be regarded as a novice
- Thread starter
- #91
I agree with your opinion, in my case I invested because I was paid in crypto and decided to leave it there, so I am learning and that is the reason for my question on the subject, many here are newbies. However you do not leave me your opinion regarding the graphics and its importance in the investment.
this is actually a fact.i have been involve in the cryptocurency for sometime,though not that too advance in the trade,but have been making use of price appriciation by investing when there is a dip.I think you can still make your gains even without knowing the chart very well.
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I agree with you that without learning about the price chart you are like going into gambling the hard earned money. All we have to do is study the technical and fundamental analysis.
In spite of the fact that it's anything but a major issue on the off chance that you don't have a clue about the crypto outline as of now, yet I recommend you to learn, so you can decide when to purchase and sell your crypto, so you can put resources into crypto all the more hopeful and get the most extreme benefit.
It's good to always understand the chart if you are a trader because that's the only way of you can interpret what is happening in the market before you placed a trade.
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When it comes to trading the cryptocurrencies market, knowing the charts is one thing you should take very seriously and it something you must look at before making any trade or investment decision
We've established the fact that one needs basic knowledge to be able to invest in crypto but what about the advanced trading like futures, I heard you learn from experience
Newbies need to learn the chart before they can confidently trade. Only the professional traders can trade without using the chart but to be more successfully, chart reading is an important tools for successful trading.
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- Thread starter
- #99
I will take your advice into account, as I have read about the importance of graphics and you are right. Since having such knowledge, I am more likely to make profits because I will know when to invest and withdraw profits.
Confidence is what gives the impetus to make a decision, so I take your words to act. Mostly when trading, as in investing it is less important.
It's not about the saving, it's about what you do with the saved money. Do you spend it on luxury or do you invest? Do you buy liabilities or assets? No matter how much you save up, if you don't use it well you'll remain poor
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