All language subtitles for 4. Become An Expert In An Indicator

One thing that may seem very obvious, but is they're actually very important and part of your continuing

education after the course is to become an expert in the indicators that you choose.

You may have a small university cares that you're really trading on a lot and really know that deeply.

You know, really, it's a really good idea to do that, to really know the indicators inside out,

really identify with those particular indicators are in your your main toolbox as far as trading, hug

them, love them and really understand to them.

And be wary, too.

If you don't listen to others who say, like, well, that's not the best indicator, you should use

this.

You can see like in the course right now that all indicators are good and maybe in certain situations

some are better than others or certain timeframes or whatever it might be.

And those are all contained in the indicator or tool lessons.

But if you're seeing somebody come out strong some something, you know, just be wary of that maybe

it's working for them or the way that they trade or the time frame, the trade or the types of securities

they trade.

It might work for them, but it doesn't necessarily mean it's going to work well for you.

So you want to be an expert in indicators that work for you.

And even with that, that, let's say primary indicator, that is your primary one that you love and

you really know.

Well, always good to have a confirming indicator, something different to help confirm it to you.

So you're kind of an expert maybe in more more than one type of indicator.

Also, some indicators you can reflect how frequently you trade, for example, some might be more obvious

or some might be a better type of of choice there in terms of ones that reflect how you want to trade.

But also what you might want to be learning about is first becoming an expert, an indicator.

Let's look at a couple of examples of that to kind of reinforce that.

So as you remember from the lesson on gaps, we have breakaway gaps, pullbacks, runaway gaps.

We have all sorts of good stuff in the Gap lesson, and some people just trade just on gaps.

Now, the thing with trading on gaps is gaps are rarer, you know, there.

So that would equal less trading.

So if you want to be a more frequent trader, you know, or really trade a more narrow a smaller group

of, let's say, securities, as opposed to a larger group, you might not see the opportunities as

much as much to actually do trading, though, when you do see them, they're great opportunities.

Just the gaps by their nature are are rare.

And as you add more candlestick patterns, for example, then you might equal some more trading opportunities.

So maybe I really trade gaps and that's what I am.

But I might look at one or two or three candlestick patterns that I really know inside out real well.

And so if I see a a rising window or I see something, then I know how I want to act.

For example, here, do you see these candlestick patterns?

Do you remember which ones are which?

It's OK.

You don't have to remember the names.

You just kind of have to understand the the concept at this point as far as what's happening with them,

with whether they're trending up or turning down or there might be a change in the trend.

We'll put the labels on here.

We've got the hammer, the hanging man in the Harami Harami was the the pregnant one.

So you can as you learn those, that's where you're going to be more of an expert and really see these

happening, let's say, on your chart, if you chose to be an expert on candlestick trading candlestick

patterns and you would see, for example, more candlestick patterns would be more common than, let's

say, than gaps.

But just understand that might impact how much you're training and the thing that can impact how frequently

your trading is.

The types of security can impact the frequency of trading.

Example, things like a Bollinger bands, which is a volatility indicator.

The more volatile your security, the more trading opportunities there are, because there's always

going up and down, going up and walking up a band, walking down a band, all that stuff.

And that's why things like Bollinger bands are popular with security, such as technology stocks and

cryptocurrency is popular with those.

Same with Fibonacci, are popular because of the volatility.

It gives them more opportunities for trading.

Then if something is not volatile at all, utility stock possibly, or something like that, it's not

going to have as many times or maybe as long a length as far as walking the band versus something like

you're seeing an example here as far as something a more volatile.

Well, there's lots of opportunities to to trade on that.

So I understand that if you like oh, I like this one type of trading indicator or tool.

Sometimes I can pack how much you frequently want to trade.

Now, if you're not a very active trader, you trade maybe once a week or once a month or whatever might

be.

Bollinger bands might be perfect.

And if you're volatile looking, volatile, security could be they're great.

They're terrific.

But if I'm trading something that's a more less volatile securities and I'm only looking at a small

number of those that I'm looking at once or twice a month, you'll maybe for an opportunity, because

that's the amount of time I have.

You might not see as many opportunities where you might see more opportunities with, again, something

like a chart pattern or a candlestick pattern, something that's more common.