Post
Topic
Board Trading Discussion
Re: A single trading tool is not enough
by
GreatArkansas
on 02/05/2022, 07:08:18 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.
(....)
There are some traders that don't have a lot of tools or indicators while analyzing the chart because it will just make your chart look messy, which I agree with.
But there are some traders who are a fan of it as long as every indicator you are using got used and is not redundant with others.
If non-chart related, other tools like the platform that tracks volume, or inflows to exchange our outflows, like some on-chain analysis or some funding rates trackers for some exchanges. I believe they are useful too as long as you know how to use them.