NexusFi: Find Your Edge


Home Menu

 





What You Know vs How much you know about it


Discussion in Traders Hideout

Updated
    1. trending_up 287 views
    2. thumb_up 1 thanks given
    3. group 1 followers
    1. forum 0 posts
    2. attach_file 0 attachments




 
Search this Thread
  #1 (permalink)
 
Darvish's Avatar
 Darvish 
New York
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader
Trading: Futures
Frequency: Every few days
Duration: Years
Posts: 128 since Mar 2023
Thanks Given: 111
Thanks Received: 98

When it comes to trading and using indicators, it's not about having a ton of knowledge; it's about understanding the few things you know. Think of it like this: you don't need a toolbox full of fancy tools if you can master the hammer and screwdriver.

Here's why less is more:

1. Clarity: With fewer indicators, you avoid clutter and confusion. You can see the market more clearly and make better decisions.

2. Focus: By honing in on a few key indicators, like order flow, VWAP, price, and moving averages, you can deeply understand how they work together. This focus can give you an edge over traders who spread themselves too thin.

3. Efficiency: Knowing a lot about a few tools means you can act quickly. You don't waste time second-guessing or looking for confirmation from multiple sources. This speed can be crucial in fast-moving markets.

4. Consistency: Sticking with a few reliable indicators helps you develop a consistent trading strategy. Consistency is key to long-term success, as it helps you refine your approach and learn from your trades.

So, don't get caught up in the hype of having all the latest indicators. Instead, master a few and understand them inside out. This deep knowledge will serve you better than a surface-level understanding of many tools.

Chaos at one level of magnification is harmony at a higher level of magnification.
Started this thread Reply With Quote
Thanked by:




Last Updated on May 19, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts