They need naming and the names need explaining but most important; you should get familiar with the sounds they give your audience so that you know how to give a funk or romance vibe.
Major & Minor | Add Numbers | sus Chords | Powerchords | Stroke Chords | Octaves | Mixolydian
Red Hot Chili Peppers fans can hear the Major character in ‘Scar Tissue’ followed by the Minor sound in ‘Californication’.
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Radiohead´s millions of OK Computer fans should notice the Major in ‘No Surprises’ and Minor in ‘Exit Music For A Film’, very different moods.
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When you see chords named you will not usually see them named ‘Major’, that is considered the default and are just named such as D or E. The D minor chord is written as Dm, E minor as Em.
Now the added numbers; you often see chords like E7 and C9 each of which have their own characteristics, but what does it mean?
The three C Major notes:
Guitar: 
The three G Major notes:
Guitar: 
Em7 adds the 7th note of the minor scale:
Guitar: 
‘Am I Inside’ by Alice in Chains. Verse is mostly an Em7 arpeggio.
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Cadd9 (C9) adds the 9th note of the major scale:
Guitar: 
‘The Tourist’ by Radiohead. Every chord in the verse has add9 over it.
Warning: Addictive Harmonies!
A sus2:
Guitar:
For Asus2 the B string is left open.
C5 Powerchord:
Guitar: 
When you remove that characteristic major or minor harmony the sound goes very straight and solid. If you hear a guitar thrashing out with masses of overdrive you can be pretty sure that they are playing powerchords because the full majors and minors sound messy and broken on high gain.
Smells Like Teen Spirit by Nirvana.
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Note; although powerchords are only two notes, they are usualy played with three strings to fill up and brighten the sound, the yellow spot on the pictures above are the optional Octave.
It is the same principle as the suspended and numbered chords but written differently because it is the very root of the chord rather than the harmonies above.
In the simple C major scale these notes are C-D-E-F-G-A-B-C
So as you see in the letters the 1st and 8th are both C.
When we look at it like that, the five string C major chord played on guitar only achieves three notes:
It is such a common chord type in guitar music that everyone with 6 metal strings in their hand just calls it E7 because it rolls off the tongue easier than 'E mixolydian 7th'.
That is why you see other chords specified as C major7th when they shouldn´t need to be.
If you are confused or want to debate it...
