Technical analysis is a method of reading price charts and a way for traders to make trading and investing decisions.
There are a number of fast and easy ways new traders and investors learn technical analysis.
The 6 best ways to learn technical analysis are:
- Read Free Technical Analysis Articles On Financial And Investing Websites To Build A Basic Understanding
- Watch Technical Analysis Educational Videos On YouTube For Learning More Advanced Concepts
- Follow Well Known Traders And Educational Technical Analysis Twitter Accounts For Real World Examples
- Read Books About Technical Analysis To Further Enhance Your Understanding
- Take Courses On Technical Analysis To Get A Professional Education On It
- Practice Applying Technical Analysis By Using A Free Technical Analysis Tool Provider
These steps are the best ways to start and learn technical analysis at a very low cost.
Starting out by reading website articles will give new traders a taste of the basic concepts of technical analysis before moving on to more advanced methods of learning.
1. Read Free Technical Analysis Articles
The first great way to learn technical analysis is to find various websites that offer technical analysis tutorials.
There are a number of great websites that offer technical analysis education for their readers, an example being stockcharts.com chart school.
Reading articles, guides and tutorials from these websites is a great way to start learning technical analysis as a complete beginner because:
- New traders can easily read and re-read new technical analysis concepts: Reading text can help a new trader or investor learn new concepts and re-read them if they don’t initially understand the information.
- Images in articles help show technical analysis being used: The images of price charts and technical analysis helps new traders and investors see technical analysis being applied to charts.
Articles from financial websites are a free way to learn the very basics of how technical analysis, technical indicators and chart patterns work.
2. Watch Technical Analysis Educational Videos On YouTube
The next great way to learn technical analysis is to watch free videos on YouTube.
There are a number of YouTube channels for learning technical analysis that will help teach beginners to advanced level technical analysis concepts, for example, “The Chart Guys” YouTube channel.
YouTube channels are a great way to learn technical analysis because:
- It’s easier to learn through video rather than text: Most new traders and investors find watching videos much easier for learning technical analysis rather than reading text.
- New traders can ask questions and get answers in the YouTube comment section: Depending on the YouTube channel, new traders can ask questions under the technical analysis educational videos and get answers to their questions.
- Videos can be replayed if a trader needs to be reminded of information: Videos can easily be replayed if they are stuck on a particular concept within technical analysis.
3. Follow Educational Technical Analysis Twitter Accounts
Following technical analysis based Twitter accounts is another great way of learning technical analysis.
There are many technical analysis based Twitter accounts to learn for both beginners and more advanced traders, an example being @TheChartReport Twitter account.
Following Twitter accounts is a great way to learn technical analysis because:
- Twitter accounts can offer real-time technical analysis of markets: Twitter accounts can post price charts of markets including stocks, futures, currencies, cryptos etc. with real-time technical analysis annotated on the chart.
- Gives new traders direct access to technical analysts and chartered market technicians: Twitter is a great way for new traders to have direct access to professionally qualified people in the technical analysis field.
- Allows new traders to ask questions directly to experienced traders: Some Twitter accounts will happily respond to questions asked which is very helpful for rookies.
4. Read Books About Technical Analysis
Another top way for learning technical analysis is to read books on the topic.
There are many technical analysis books to learn everything about the topic, a popular example being “Technical Analysis Of The Financial Markets” by John Murphy.
Books are a great way to learn technical analysis because:
- They cover the topic of technical analysis in detail: Books cover everything from different types of charts, technical analysis indicators and chart patterns to educate the reader.
- They are written by experts: Books tend to be written by experts so it’s helpful for new traders to know the information they are learning is correct.
- They help with note-taking: Books on technical analysis help readers easily take notes on the important parts.
5. Take Courses On Technical Analysis
Another great way of learning technical analysis is to take courses on the topic.
There are many top technical analysis courses that a new trader or investor can take, an example being “A Beginner’s Guide To Trading Using Technical Analysis” course by The Chart Guys.
Learning technical analysis by taking courses is great because:
- It offers new traders a professional method of learning: Courses tend to offer professional and highly structured lessons on technical analysis.
- It thoroughly covers the topic: Courses tend to thoroughly cover the topic of technical analysis with all areas being taught.
- It offers quizzes and exams to test what you know: Courses offer tests and quizzes so new traders can test all the new topics they learned within technical analysis.
- It provides a new trader with access to instructors: Taking courses on technical analysis is beneficial for traders because they can ask the instructor questions on areas they might be stuck on.
- It offers qualifications and certificates: Taking and passing a course on technical analysis has the added bonus of offering certificates for proof a new trader understands the topic.
Practice By Using A Free Technical Analysis Tool Provider
A final great way of learning technical analysis is to use free technical analysis tool providers and practice using indicators and chart patterns on live price charts.
There are many technical analysis tools to practice using technical analysis, an example being Tradingview.
Using a technical analysis tool provider is a great way to learn because:
- It helps new traders actually apply technical analysis in real life scenarios: Using a chart program allows traders to practice using indicators and patterns to real price charts.
- It turns technical analysis theory into practice: The other methods all teach the theory behind technical analysis but actually using technical analysis software helps with the practical application of it.
- It forces a trader to improve their technical analysis skills: Regularly applying technical analysis to real time charts helps to improve their skills and work on their weak points.
Following these methods of learning technical analysis will provide a new trader with all the education they need on the topic.
There are both free and paid ways to learn technical analysis.
As a complete beginner with no idea about technical analysis concepts or theories, it’s best to start out by reading articles on websites before moving on to YouTube, books and courses later on.