Post
Topic
Board Trading Discussion
Re: A single trading tool is not enough
by
Hypnosis00
on 30/04/2022, 10:12:25 UTC
To get the best out of any analysis confluence between multiple tools is best because it gives a clear picture of where to possibly set take profit and set a stop loss in case of reversals. For me i Iove support and resistance and so I combine trend lines, moving average, time frame and indicative candle stick making sure my chart is as neat as possible and any signal outside this i avoid it. This keeps my trading discipline in check.

What are your own it can be beneficial to someone else.
Some will consider using more than 1 trading tool gives them great results but for the other traders, ain't never works. Even for me, If I was been satisfied with the result upon using a sing trading tool, I certainly don't look for another as this is not necessary anymore. Sometimes, the use of different trading tools will only confuse us and lead to a wrong decision.

Of course, we can try, at least we can see what would be the result. But as a beginner, we aim to focus on one.