Post
Topic
Board Trading Discussion
Re: A single trading tool is not enough
by
CaVO32
on 01/05/2022, 23:02:25 UTC
Based on my own experience this is what i do commonly use.
1. Support and Resistance
2. Trend Lines
3. MA
4. RSI
5. Sticks on hour timeframes and finding out some bias.

This is actually basing on your own preference on what suits you on.
This can be a good indicators to use every time you trade, it compliments the other indicators and you can get more effective result if you do follow these indicators. I've been using a lot of indicators lately because the market is not moving that much and its hard to get the correct data if you are just going to base on a single tool. Knowing the best indicators to use is a must, you should focus on that and learn how to create a good strategy using that indicators.

If I may add, to learn more about the coin you are trading, aside from those indicators, you can visit their social media threads or channels and read what is going on. In most cases, these devs won't publish on their official site about the updates, but they will post it within their social media groups. Because those indicators and other TAs are useless, if for example, the team is planning to do a pump and dump strategy. It may be too late for you to discard the coins you have on hand. But all along, they are giving hints to their social media community that they are about to exit this market.