TRADING FOR BEGINNERS SERIES - #1 Why I use technical analysis to profit
I've been trading the Betfair sports exchange and profiting for 3 years now. Last year I bought my first Bitcoin and discovered the crypto universe. I applied my technical analysis skills and trading expertise and have been profiting ever since. Trading is my absolute passion and you might not believe me when i say this but, yes, the profits are a big reason I do it, but I absolutely love using analysis to predict price movements and I hope you will too.
The key to profiting from cryptocurrency is having at least a basic understanding of technical analysis and the skill of trading. In this series I intend to introduce the concepts and methods in a bitesize, understandable way.
Technical analysis puts most people off because all they see are complex graphs with lots of lines drawn all over them and a lot of people give up before they even try. People then pay for an'expert' to predict the market when in reality these 'experts' are using technical analysis and the laws of trading to make probable predictions or they just blindly trade off of blind faith often buying high and selling low. They may get lucky initially and make a profitable trade but without proper understanding the will slowly ebb away at their investment.
I hope you follow this series and please follow me :)
up voted and followed
Awesome thanks. Hoping to get next post up tomorrow :)
Welcome to the community! Follow me at https://steemit.com/@bitgeek
thanks :)
Welcome to Steemit!
thanks :)
I enjoyed your article and look forward to reading more. I trade betfair as i have been banned by all of the bookies lol and have been dabbling with cryptos for the past year but struggle with technical analysis so looking forward to further articles.
My betfair trading skills have definitely helped me to trade crypto but ive quickly leanred than technical analysis is more crucial than on betfair. The main difference being that the prices behave in a more predictable way so it can actually be easier to predict movements.
Welcome to Steemit. I have been wanting to learn more about trading for some time. I will definitely be reading your series.
great to hear. thanks.
Following.. Looking forward to see more posts regarding technical analysis and how to read the lines.
You did very well in bringing your experience to anyone who is starting out! Bitcoin is the least volatile or was up to a little time ago among all cryptocurrencies! Trade with these currencies, in addition to technical analysis, precisely price action, because indicators are just helper! There are internal, external, major and minor factors that one needs to take care of and of course, make the marketing of the currency itself help! Congratulations on your experience.