#TradingTools101 - Ruling the market with the tools of the trade! 📊

Every trader understands that the right tools are as crucial as timing. This #TradingTools101 piece will discuss the following tools we think almost are essential: moving averages (MA), RSI, MACD, Bollinger Bands, and volume tools. These tools assist you in following trends, spotting reversals, and confirming your entries and exits with confidence.

For example, MAs can help reveal bullish or bearish transitions (by investigating MA(7) vs MA(25)) explaining how MAs function as a sort of gauge of current momentum; determining if something is currently bullish or bearish. RSI tells you when an asset has been overbought or oversold. MACD is also useful if you want to track momentum without necessarily relying on one tool to stake your position.

You can have an edge in trading if you employ multiple tools instead of relying on the analyses of just one tool. Once you know what your indicators are, you've walleted a strategy, and are then basing your buy/sell decisions in data instead of emotion.

📈 Do you have a favourite trading tool? Let us know in the comments!