everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?
The question is, can you read the chart when you are on an exchange site platform? Because if you don't know or have no idea how to understand it, it's obvious that you're either a newbie or you're just basing your trading income on guesswork and luck. In short, you're just pretending to be a trader just to make others think you're a crypto trader. That's how it used to be for me.
But do you know that an individual trader who enters crypto trading must be able to read? For that to happen, you must first learn the basics of trading and also know at least some of the tools here, because this is what we will use to identify the direction in which the price of a crypto that we want to trade is likely to go.
The knowledge most traders have about trading in general is too shallow, lets look a one of the most simple indicators that exist, the simple moving average, also known as SMA, many traders use this indicator, but do they truly understand it? Do they know how it is calculated? Can they calculate it by hand? What is supposed to indicate? How it can be used with other indicators to produce accurate signals? What other indicators use the SMA as part of their own formulas? Very few people can answer those questions, and with this in mind it is not really surprising those people get bad results.