Trading indicators

Hello everyone!

Unlike above gif image, I have never traded before. It's a world which I don't know. When I look at my personal finances, I am rather a person who buys ETF's for the long run and who isn't speculating on short term price movements. When I started to learn about stocks and such, I tried some stock picking though it was relatively fast that I learned that it wasn't something for me. I don't want to spend a lot of time investigating the financials and analyzing the market. My financial knowledge isn't big enough either. Conclusion: I became a passive investor.

Yesterday I read an article about the Hive internal market of @asgharali: 𝗦𝗮𝘃𝗲 𝗼𝗻 𝗙𝗲𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗛𝗶𝘃𝗲 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁. As I always am eager to learn something new, I decided to check it out. By the way, definitely check out his article as I think it's great to learn about Hive's internal market if you don't know it. For those of you now aware, you can access the Hive internal market through clicking on 'Market' when you're looking at your wallet on the PeakD front-end:

I expected that it would be more difficult to reach its internal market but as you can see, it's quite easy. As said, I don't know anything about trading, so decided to ask our good friend ChatGPT to tell me a bit about indicators used in trading currencies. He threw several technical, fundamental, sentiment and volume indicators at my head. As stated, I am an absolute noob, so didn't know which one would be good or not.

Therefore, I asked chatGPT which one he would choose if he had to choose the best general indicator. He came up with the Relative Strength Index (RSI). Besides mentioning the indicator, he explained why he had choosen it as well:

1. Simplicity: It's an indicator which is easy to interpret. It ranges between 0 and 100 and when a currency is overbought, it will near 100. When a currency is oversold, it will go towards 0.
2. Versatility: The indicator can be used in several different timeframes so could be used in a lot of cases.
3. Potential reversal: The indicator will give an indication when a potential price reversal is possible.
4. Complimentary: You can utilize the RSI as a complementary tool, combined with other indicators.

Overall, it seems like a good basic indicator. After reading all of it, I thought to still stay away from trading. I should first learn more about trading before throwing Hive at it. Nothing withholds me though to keep learning and who knows sooner or later I will try it out again. Feel free to share some tips in regards to trading or in regards to good sources to learn about trading.

As always, thanks for stopping by! As it's Saturday, have a wonderful weekend and enjoy it with your loved ones. Maybe even drink a beer. ;) I will probably have a couple of good Belgian ones. If I do so, I will write about it tomorrow.

#sbi-skip