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

[Elfinito]

Understanding the chart would help you understand where the next market is going up or going down.
the chart helps in predicting the market volatility

 

[Sariana23]

Majority of the people are not ready to do this. Everybody is with get-rich-quick mindset and they are not patience to learn the basic things. And they will eventually fail after the whole thing's.

You are absolutely right @kayode10, we are all looking for money, but you should not invest in cryptocurrencies without knowledge, I have not spent the right time to learn in detail, for that reason I have not taken the decision to invest large amounts, as it is a risk that I will be taking not having knowledge.

 

[kayode10]

Majority of the people are not ready to do this. Everybody is with get-rich-quick mindset and they are not patience to learn the basic things. And they will eventually fail after the whole thing's.

And get rich quick mindset is not good for someone who wants to make consistent income online. Is take patience before someone could make good amount online.

 

[Oliver4smile]

Not understanding the chart for investing in a particular crypto currency before going into it is just like walking on a busy road blindfolded, you may actually walk your way through by chance, but you may also end up injuring yourself or even getting killed by speeding vehicles

 

[kayode10]

I hate reading charts and that's the reason why I don't invest in cryptocurrency trading and Forex. I would rather engage in affiliate marketing or get paid to post programs.

 

[Sariana23]

Not understanding the chart for investing in a particular crypto currency before going into it is just like walking on a busy road blindfolded, you may actually walk your way through by chance, but you may also end up injuring yourself or even getting killed by speeding vehicles

You are absolutely right, it is like walking without direction, as I have seen that all people orient themselves by means of graphs, I wanted to know the level of its importance. You have expressed a good example, if we do not know we can end up run over.

 

[Ceeny007]

Reading the charts help to make informed decision but if you can't you can still seek help from people who know more and can read charts

 

[Sariana23]

Reading the charts help to make informed decision but if you can't you can still seek help from people who know more and can read charts

Although I have been researching and already have more knowledge, I always seek guidance from my brother until I feel confident, good suggestion @Ceeny007, at the time of trading you are risking your capital, you must have good knowledge for it.

 

[Sisinsefi]

I also AI have a little investment on crypto, I don't understand the market but I I have someone who monitors the market time to time for me. I'm learning it anyways, not yet mastered it.

I have a small investment in cryptocurrencies but I don't know the charts well. Many recommend following them to know when to make a wise decision. While I understand that it is a curve that goes up and down according to supply and demand, I don't know more than that, so I would love to know your opinions and insights.

 

[Sariana23]

I also AI have a little investment on crypto, I don't understand the market but I I have someone who monitors the market time to time for me. I'm learning it anyways, not yet mastered it.

Soon you will learn, here the members stand out with good posts and comments where you can get guidance, there are also many related videos that can help you, meanwhile I'm glad you have someone to guide you in your small investment.

 

[YERUS]

I have a small investment in cryptocurrencies but I don't know the charts well. Many recommend following them to know when to make a wise decision. While I understand that it is a curve that goes up and down according to supply and demand, I don't know more than that, so I would love to know your opinions and insights.

It is very important that you understand the charts well to make success at it.
It is best to use the demo account for trial and error if still in the training phase.
I will even recommend you allow an expert trade for you to avoid losses.

 

[Abigael]

I think understanding charts is the number one skill that is required in cryptocurrency trading. This is because they are used for analysis so as to know when it is best to but or sell your crypto.

 

[Sariana23]

It is very important that you understand the charts well to make success at it.
It is best to use the demo account for trial and error if still in the training phase.
I will even recommend you allow an expert trade for you to avoid losses.

Thank you for your recommendation @YERUS, indeed it is highly recommended to have guidance from experienced people, as this decreases the probability of losses.

I think understanding charts is the number one skill that is required in cryptocurrency trading. This is because they are used for analysis so as to know when it is best to but or sell your crypto.

The comments that members have left me, reaffirm your recommendation, before any movement in cryptocurrency you should know the graphs to know when to make the best decision.

 

[Toyoabasi]

I have a small investment in cryptocurrencies but I don't know the charts well. Many recommend following them to know when to make a wise decision. While I understand that it is a curve that goes up and down according to supply and demand, I don't know more than that, so I would love to know your opinions and insights.

It is possible to invest in them if you do not know the charts, you can simply get yourself an expert to manage your accounts.
But, if you're trading personally, it is advisable that you know the charts very well. Without knowledge of the charts, you may run many losses.

 

[Kelly5]

If you choose to invest into cryptocurrency without looking at the chat or following the trends, it will be more likely that you're gambling with your investment. There is no how you would trade the market without making recourse to the chats

 

[Sariana23]

It is possible to invest in them if you do not know the charts, you can simply get yourself an expert to manage your accounts.
But, if you're trading personally, it is advisable that you know the charts very well. Without knowledge of the charts, you may run many losses.

As I have described in the topic, it is a small investment but I have not operated with cryptocurrencies, even so I understand the importance of having the necessary knowledge, so as not to incur unfortunate losses. Although in view of the volatility of these, it can happen at any time.

If you choose to invest into cryptocurrency without looking at the chat or following the trends, it will be more likely that you're gambling with your investment. There is no how you would trade the market without making recourse to the chats

Of course you are absolutely right @Kelly5, even though many believe that investing or operating in cryptocurrency is a game, you should still have the basic or sufficient knowledge to enter this world.

 

[Heatman]

Understanding the charts when it comes to cryptocurrency trading is one of the easiest way you can actually invest successfully and not lose your money because without the knowledge, diving into the market is suicide.

 

[Nass]

It's very important to understand what ever you are doing in cryptocurrency, some people only knows investment they don't know charts and other activities or duties they supposed to be doing.

 

[Heatman]

Although some cryptocurrency trading charts can be deceiving, when you think the trend is going to be going up high then all of a sudden it will go down. So you have to be very observant with this chart in order not to make a mistake when you enter a trade.

 

[Sariana23]

It's very important to understand what ever you are doing in cryptocurrency, some people only knows investment they don't know charts and other activities or duties they supposed to be doing.

Although some cryptocurrency trading charts can be deceiving, when you think the trend is going to be going up high then all of a sudden it will go down. So you have to be very observant with this chart in order not to make a mistake when you enter a trade.

Although with the knowledge of the charts it is very likely to have positive results, it is also possible to fall into losses in view of the volatility of the currency, but it is still safer to generate profits than to invest without the necessary knowledge.