To some, technical analysis is a mystical method used by individuals to look into the future. Much of the glamour comes from the use of technical analysis as a predictive tool. While predictions can invigorate in a manner such as taking a joy ride, the end result will often feel like a ride gone bad. Although less exciting, the better use of technical tools can be likened to the tools a doctor uses to diagnose the condition of a patient. Similarly, a technical analyst applies his tools to determine the present condition of the market. Once a diagnosis has been made, a trader has a guide on how to approach a market. The understanding and application of tools is an important step in the development of an analyst or a trader. Properly used, various technical tools allow the drawing together of pieces of evidence to determine the market's present condition. While no one can guarantee the correct analysis of a market, the more evidence you gather, the better your odds. Once the evidence is gathered, diagnosing a market often ends up in a process much like jury deliberation. Each piece of evidence is considered; some will be accepted as valid, others may be suspect. Often one or two pieces of evidence prove to be the key in making a final determination. Once an analysis is made, based on the preponderance of evidence, a trader is ready to plan a course of action. TOOLS OF THE TRADE: The purpose of the series is to expose the reader to various analytical tools and to allow an insight into their applications. Hopefully the reader will have a better understanding of why a final diagnosis of a market's conditions has been reached.
4 thoughts on “Traders Toolbox: Trading tools for today's markets”
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Adam, I have had only a short period of time to quickly look at thae traders toolbox information. I do know any time a trader of your status trys to help the rest of us, that is something special. Thank you for your efforts, Sincerly, Chris
Hi,
Thanx for ur great info. Can u plz send me the link for Traders Toolbox.
Thanx
Alaeddin
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Alaeddin,
The Traders Toolbox will be a series that Adam will be posting. It's not a link, but a series of tools/lessons to follow. We will be consolidating and archiving all of the information so stay tuned. Let me know if I can help with anything else.
Best,
Lindsay Thompson
Director of New Business Development
INO.com & MarketClub.com
I have tried to join your two week free services but it wont allow me because I am from NZ. Therefore I dont have a state or a zip code.
How can I overcome these problems?
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Please send me your postal address and I will manually sign you up for the free trial. Send to
li*****@in*.com
.
Best,
Lindsay Thompson
Director of New Business Development
INO.com & MarketClub.com
I have clicked on to the link for Traders Toolbox with no result.
How do I get it?
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Wil,
Check you email as I have just sent you the information you requested.
Best,
Lindsay Thompson
INO.com & MarketClub.com