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Seeing there are a number of people in here interested in how to use charts to their benefit, I figure I'd make a Topic on charts specifically for XRP.. First rule: Charts do not decide the price of XRP. Don't think that by drawing an arrow pointing upward, that the price is going to follow your opinion. That's my first complaint with TA. Sites such as Tradingview.com has hundreds of users plotting fancy charts like the one below in which the users constantly 'conclude' that the price is going to go up (blue arrows). This is NOT the purpose of technical analysis. TA's main purpose is to convince yourself to hold while your investment price is dropping. This concept is rarely mentioned in TA websites. Second rule: When drawing a chart, don't draw what you WANT to see. Draw what is there and then interpret it to the best of your ability. Third rule: TA is extremely powerful and accurate once you learn how to use it. Someone once said, the reason so many people dont like TA is because they dont understand it. Very true. Fourth rule: Keep the chart as simple as possible (refer to Rule #1) Fifth rule: You will not always be correct. Although chart analysis can assist in your investment decisions, TA is not 100% accurate (just like everything else in life). Do not plot a chart, draw some lines, sell your house, and put it all on XRP because you think the chart is going to make you a million dollars. This is not the purpose of TA. Sixth rule: DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE.
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Now that we have the basics down on charts HERE, let's begin to explore ideas on how to become a better investor. None of this is investment advice.
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Hi all, Just learning about this and have finally managed to get my account setup. Can someone please help out with the 50 credits required to activate my wallet? I feel bad asking but I see there's some good folk here so fingers are crossed. r3GYAxP8my19EcPdXShGnW77eow7yBW5xf is the code I was provided. Thank you
