INTRODUCTION

Getting yourself intimated on how to read crypto charts is an imports skill you must have if you want to get into trading.
Learning the technical analysis and other of such jargons that comes with the crypto chart could most at times prove intimidating to persons who are just entering into trading.

Building the right skills on ways to read the crypto charts is an art. This skill will not only help you to track the price of your favorite coin, but will actually tell you so much about the trend of the market as well. For persons who want to fully go into crypto trading, these charts could serve as a very important tool when they are used in the right way. For many traders of crypto, these charts are importan if they are to make important decisions.
A crypto chart can be defined as visual tool or diagram that shows the necessary data so as to help traders understand the movement of the cryptocurrency price.

These data presented on the tool are done in such a way that traders can see the patterns in the market movement and this also helps the graders to picture what the total momentum to the cryptocurrency market looks like - ie. whether it is bullish (which means that the price of coin is going up as a result people buying it) or bearish (which is means that the price of a coin is going down as a result of people selling the coin out).

So, the theory of the chart is to help know where the market is headed at some point, predict what the price will be in the future to as to help traders know when to HODL, buy or sell. This chart is of two main types which are linear charts and candlestick charts.

FROM HOMEWORK LESSON

AFTER I BOUGHT BTC A COUPLE OF DAYS AGO AT A PRICE OF USDT 62K AND SUDDENLY, I SEE THAT THIS SITUATION OF THIS CHART ABOVE, WHAT WOULD I HAVE DONE BEFORE READING THE LECTURE GUIDE?

Let us take into consideration the candlestick chart above, normally It will cause me to panic as a result of the sudden decrease in the price of BTC from USDT 64,854.00 to USDT 54,585.22 which is of a difference of USDT 10,268.78 in just a matter of few days. Truth be told, the next thought I will have will be just to withdraw my remaining money since I wouldn't want to experience further loss as a result of my lack of expertise.

But, as a result of my going through the Lecture guide, although I might still panic, but I understand that I made a mistake from the very start by investing more than I could afford to lose and allowed greed and my emotions to take a better part of me, because trading on cryptocurrecy, it is a normal thing for the price of a coin to rise and fall, which I must have in mind before taking any step. After reading the lecture, I will just wait for some because the price will still go back upon which I can still make a huge profit

LESSONS I LEARNT FROM THE MISTAKES MY FRIRND MADE IN TRADING?

After Muhammed was introduced to cryptocurrency by a trader who made a huge gain from the platform, he was so excited that he got fully interested in cryptocurrency without even sitting down to fully understand how it works and counting the cost. All he was just interested in was that he can invest his money into cryptocurrency and after few days, weeks or month as the case may be, boom, he will become a rich man.

But reverse was the case after he made the investment (of over ten million) because at the point that he invested, he bought BTC at a very high amount as many people where also buying not knowing that the price will soon go down as a result of some big companies making purchase of the coin in a large amount of which many investors will want to sell theirs. Because my friend didn't take time to regularly study the movement of the market through the chart to know when to sell, he ended up losing a lot since he only came to find out after some time.

The lesson that I learned from his experience is that, although other people make huge gain from investmen ing in crypto, I shouldn't just rush to invest by allowing my emotions to control me, but I should carefully study the movement of the market before investing and even if I want to invest, I should not invest more than I can afford to lose.

THE STATEGIES DISCUSSED IN THE LECTURE THAT I FIND BENEFICIAL TO TRADERS

The strategy that I find most beneficial to me is never to invest money that I am not willing to lose.I have seen certain persons invest money they could not afford to lose such as their school fee, some even invest money meant for special occasions like their wedding and it didn't work out well for them because they were so excited without considering some major strategies to adopt in investment after hearing that people make a lot money in cryptocurrecy and the just ended up in a sorry state. I also learnt that I should not be frustrated into trading more because the last one didn't yield well.

AFTER SEEING THE POST OF ELON MUSK OF TWITTER WHICH STATES THAT ONE CAN BUY TESLA CARS WITH BTC, WHAT WILL I DO?

Before reading the lecture, I would have just rushed to buy one for myself if I had BTC that is worth of the car that I desire.
But after the lecture, I got to understand that the movement of the price of BTC may drop as a result of so many investors wanting to sell off their BTC to the company. But, the value will later rise as a result of scarcity. So, I will rather patiently HODL my BTC until then which will result in huge gain for me.

@fendit
@steemcurator02