use of polymorphism OOPs consept

Question

hi all,
what the specific requiremnets when we should go for static poly, and when dynamic polymorphism.
 
in my opinion ,
AS we all know that the static polymorphism means overloading and we use it when we want that it should two methods with same name and different signature.
and dynamic polymorphism means overriding so when we want some functionality need to be implemeted separately by diferent class according to the requirement then we go for it ..
 
 
i want some more opinions and please be specific ..
thanks