Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
Thanks so much.
i dont rely on TA, rather check the market from time to time to see the general trend.
They are all technical as far as I am concerned. Either you are checking trend reversals with candlestick patterns or indicators, or you are making use of indicators, or whatever, as long as you are trying to check the trends and work with it in your favor, you are still analyzing the market.
You do not need to start drawing series of line from one end to the other, before you consider yourself doing technical analysis and in fact these days, people have gotten to rubbish the idea of technical analysis as they just plot whatever they wish to want to plot on the chart. What is important the most is to have a strategy and be able to stick with it in entering a bull market or getting out of a bearish market?