I've been trading for about a year give or take and have studied for over 2. I would like to know what tools you guys use to trade. What do you find that assists you in your trading in general?
I've never realized this but I almost never use any trading tools to trade apart from VWAP (Which I really don't know its underlying meaning. I can't even say I use VWAP honestly as I don't know it's true value, utility and uses, just that it's good if a stock stays above it.) I never used any technical tools like bollinger bands and EMAs for example and still don't know how any of them work like at all(or even what many of them stand for at that). This could be because I'm always using a laptop and on power etrade currently.
Anyways, I usually trade stocks ranging from the $3-$10 range for reference. They're usually top gainers that I trade and have tons of attention. Or they're stocks that seem to be gearing up for a parabolic move. I've been trading them for so long, I've seen their behavior and I feel like I know how they'll act, so I jump in when it dips/consolidates. But I never use tools, I only DRAW LINES on the chart that show me where support and resistance could be in said stock (candle lows that have been touched 2-3 times and act as a place a stock can't get under and resistance that the stock seems to not be able to break).
I'm reading about the markets 247 and have done this for over 2 years(read about the market for over 70 hours a week. Yes. You could even say 90 hours....). Because of this, I feel like I've got a good feel for the markets (sure, I don't know some of the more intricate things in the markets, what CDs are or something like senior secured controvertible notes but you get the main idea). I also have been trading for 1. I trade off what I mentioned but don't use tools. What's your perspective and outlook on this? Advice?
Submitted July 03, 2021 at 10:09AM by geowd https://ift.tt/3yoMWsL
