What does the world of music and the world of day trading have in common (besides relentless practice and repetition needed to succeed in both)?
We all know what musical instruments are all about. So what in the world are instruments in the trading circles?
It’s what you trade!
There are tons of different things you can trade, and they are called instruments.
For example, my instrument is the ES Mini Futures (which is the S&P 500 index).
Here are a few others:
FX currencies – this arena alone has several dozens instruments such as the US dollar, Euro, Japan Yen, etc…
Indices – Russell 2000, Dow, S&P 500, NASDAQ, etc…
Commodities: Crude, Precious Medals, wheat, soy, sugar, etc…
All these are instruments that can be traded individually. Just like in music you have different instruments to play on.