Seasoned traders will tell you; there is no such thing as a trading Holy Grail. I strongly disagree. It’s true there is no perfect trading indicator, but there can be a perfect trading toolbox. Once you find a set of day trading tools (technical analysis indicators) that compliments and enhances your unique trading style, you will have created, you own personalized Grail. However, this quest takes time. There are no short cuts.
Trading Wisdom comes with time. It is a combination of Knowledge + Tools + Experience. As your skill and experience increases, your toolbox will change. This process is the same for any craftsman. You start with the trading equivalent of a screwdriver, hammer, and nails; read trade journals, and maybe even apprentice under a Master Trader or two or three. Eventually, your skills improve and so does your demand for more sophisticated trading tools.
A trading indicator is no different than any other tool. It is only as good as the person who wields it. Some people need only a screwdriver, a hammer, and some nails to get the job done. Others require advanced power tools.
The key to trading success is to create a trading system based on matching the right trading instruments to your personality and budget. When these two elements merge, you have the perfect system or as we like to call it – the Trading Holy Grail tool box.
I wish I could tell you there’s one silver bullet. But, then again, if such a unique solution existed and I had it, we would not be writing this article. I, instead, would be resting on my yacht next to the island I had just purchased. 😎
Your quest to find the trading Holy Grail will be no less perilous and rewarding than Arthur’s knights experienced in the pursuit of their grail.
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