What is technical analysis and thoughts about the crypto trainers driving a Lamborghini

While dipping my toes into the trading world of crypto recently, I keep on seeing quite a number of people selling crypto trading courses online on the ads while I was listening to music online. They show their fancy cars and stare at the charts seriously, promising to teach me how to trade crypto to make me rich. But are these crypto trainers driving their Lamborghini for real? I did some studies and here's my thoughts on this matter.

Before revealing anything, here's a disclaimer. I am a small time crypto trader who do a bit of swing trading and lose some of my savings. I am not a full time day trader.

In day trading to see the returns faster and to take more risks, it is to try to earn from the errors of others as whether prices goes up or which in a short period may not be the accurate reflection of the worth.

For example, let's use the most popular one: the morning star pattern. So, this is a pattern based on the candlestick chart. I know you don't know what it is, but that doesn't matter. Just know that based on past trends, there is a chance that the buyers may be turning the price from going down to going up. So, a trained trader predicts it will go up and buys at that time.

Now, here's the thing: that is known as an indicator, and there are many, many indicators. A trader needs to know them and apply them to predict the movement, but it's never, ever 100% accurate. This is known as technical analysis. But the most important things is for traders to set a specific plan to buy and sell and what not, not based on emotions but solely on the risk management plan. You can learn technical analysis from books or Udemy courses but the real main issue is your emotions. If you sign up for a course by a fake crypto trainer driving a Lamborghini, It means you have already lose because you cannot even manage your emotions!