One more look at which tools to eventually put in the bag.
When you begin work as a construction worker, you purchase just the tools you need in order to keep initial costs to a minimum. As time goes by, and you gain proficiency, you acquire additional tools to augment those already existing. In addition, you see other master carpenters and roofers at work and you see that their tools differ slightly than those you possess. Also, as you work along side those individuals, you gain knowledge as to which tools are available to make your job a bit easier.
Well, common sense dictates that as soon as you gain the required proficiency necessary to your work, and the accompanying wage increase afforded, you will purchase or seek the upgraded tools to make your job easier. Further, as you are still doing the exact same work, it stands to reason that you can accomplish your tasks a bit quicker and with a tad less effort.
Same with trading imho.
You have a Renko 5 tic chart set against a candlestick 5M chart. Each tic (pip) represents $10 per unit on a standard lot. As such, a 10 point move equals $100 on each chart.
Compare the difference in the two. Would it be a bit easier to trade a +10 Plan A on a Renko? Of course it would. How many +10's do you see? Remember, you need only a few moves daily to reach solid account growth goals.
Now, we are finding it relatively easy to isolate those +10's on a MT4 candlestick chart aren't we? So, when you gain experience in a method YOU prefer to trade, what is the next step? Yep, you get better tools and do the same work in less time. Simple common sense.
Regards.
When you begin work as a construction worker, you purchase just the tools you need in order to keep initial costs to a minimum. As time goes by, and you gain proficiency, you acquire additional tools to augment those already existing. In addition, you see other master carpenters and roofers at work and you see that their tools differ slightly than those you possess. Also, as you work along side those individuals, you gain knowledge as to which tools are available to make your job a bit easier.
Well, common sense dictates that as soon as you gain the required proficiency necessary to your work, and the accompanying wage increase afforded, you will purchase or seek the upgraded tools to make your job easier. Further, as you are still doing the exact same work, it stands to reason that you can accomplish your tasks a bit quicker and with a tad less effort.
Same with trading imho.
You have a Renko 5 tic chart set against a candlestick 5M chart. Each tic (pip) represents $10 per unit on a standard lot. As such, a 10 point move equals $100 on each chart.
Compare the difference in the two. Would it be a bit easier to trade a +10 Plan A on a Renko? Of course it would. How many +10's do you see? Remember, you need only a few moves daily to reach solid account growth goals.
Now, we are finding it relatively easy to isolate those +10's on a MT4 candlestick chart aren't we? So, when you gain experience in a method YOU prefer to trade, what is the next step? Yep, you get better tools and do the same work in less time. Simple common sense.
Regards.