How I learned that two market analysis tools are better than one

A couple of years ago, I was working as an accountant in a big firm in São Paulo. I was happily working with numbers because I had a natural talent for math and even a kind of passion for organizing data into tables and charts. But I was still unhappy with her 9 to 5 routine. Despite having a stable income and a decent lifestyle, I always felt unfulfilled and longed for something more exciting and challenging. I remember complaining about it to my friends and them wondering, “Lucas, maybe you’re not cut out for an office job.” That evening, I went for a long walk in Trianon Park, thinking about my future. I guess I felt that something needed to change, so I decided to explore other options that could provide me with financial freedom and a sense of accomplishment. And I hoped it wouldn’t involve working as many hours as I did at the time. 

I don’t remember how exactly I found Binomo, but I somehow did and created an account. Curious to try something new, I took the leap and started trading on the news. However, the news event didn’t have the expected impact on the market. It was the middle of the GameStop turmoil, and even major hedge funds and investment banks were caught off guard, not to mention the little old me. 

How WTC reignited my trading spark?

I lost some money on those trades and felt that I’d made a huge mistake. I swore off trading on the news and maybe off trading in general. After this initial shock, I decided to take a step back and re-evaluate my approach. Instead of dropping out of the race completely, I realized that I needed to be more careful in my analysis and research and become aware of other factors beyond the news. 

I started to pay closer attention to the market and kept an eye on technical indicators, as well as the news events that could affect my trades. More specifically, I started using a combination of the MA, RSI, and Fibonacci retracement, and it proved that using multiple tools does actually provide a clearer picture of the market. 

I am now able to balance my time between two jobs: part-time as an accountant and part-time as a trader. Trading has not only allowed me to supplement my income but also finally gave me the feeling that I’ms accomplished something difficult and worthwhile.