In the story of David and Goliath, David convinces King Saul to let David fight Goliath. King Saul places the King’s armor on the boy David. It was too big, he did not know how to fight with it on, and he was not comfortable with it. So David took it off.
In the forex, it is easy to use indicators we have not tested and are not comfortable with. We can easily get caught up using too many indicators, which limit our ability to respond to the market.
David approached Goliath with the tools he was familiar with, his faith, his knowledge of having already fought a lion and a bear, one sling, and five smooth stones.
Do you think he was crazy?
With these tools, he found Goliath’s vulnerable spot… his forehead. Most of Goliath was covered with armor. That one stone penetrated his forehead and knocked him unconcious. Then David cut off his head with Goliath’s own sword.
Sometimes we might feel like David (trader) going up against Goliath (forex). We need to use the tools we are comfortable with, the knowledge of our past trading successes, and the faith that we can do it again.