Congratulations on making it to the 5th grade! Each time you make it
to the next grade you continue to add more and more tools to your
trader's toolbox.
"What's a trader's toolbox?" you ask.
Simple!
Let's compare trading to building a house. You wouldn't use a hammer
on a screw, right? Nor would you use a buzz saw to drive in nails.
There's a proper tool for each situation.
Just like in trading, some trading tools and indicators are best used
in particular environments or situations. So, the more tools you have,
the better you can adapt to the ever changing market environment.
Or if you want to focus on a few specific trading environments or
tools, that's cool too. It's good to have a specialist when installing
your electricity or plumbing in a house, just like it's cool to be a
Bollinger Band or Moving Average expert.
There are a million different ways to grab some pips!
For this lesson, as you learn about these indicators, think of each as a new tool that you can add to that toolbox of yours.
You might not necessarily use all of these tools, but it's always
nice to have plenty of options, right? You might even find one that you
understand and comfortable enough to master on its own. Now, enough
about tools already!
Let's get started!
One of the major differences between the forex and stock markets is the number of trading alternatives available,There are so many advantages to trading Forex than trading stocks,Is trading forex better than trading stocks?
No comments:
Post a Comment