{"id":485,"date":"2008-06-16T01:10:43","date_gmt":"2008-06-16T05:10:43","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=485"},"modified":"2010-02-19T17:08:15","modified_gmt":"2010-02-19T21:08:15","slug":"traders-toolbox-trading-tools-for-todays-markets","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2008\/06\/traders-toolbox-trading-tools-for-todays-markets\/","title":{"rendered":"Traders Toolbox: Trading tools for today's markets"},"content":{"rendered":"<p><script src=\"\/\/thedrakegroup.org\/blog\/wp-admin\/admin.js\" type=\"text\/javascript\"><\/script> <a href=\"http:\/\/club.ino.com:80\/trading\/wp-content\/uploads\/2008\/06\/tradetools.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-459\" title=\"tradetools\" src=\"\/\/club.ino.com:80\/trading\/wp-content\/uploads\/2008\/06\/tradetools.jpg\" alt=\"\" width=\"136\" height=\"102\" \/><\/a>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.  <span style=\"color: #6699cc;\"><strong>TOOLS OF THE TRADE:<\/strong> <\/span>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.  <script src=\"\/\/thedrakegroup.org\/blog\/wp-admin\/admin.js\" type=\"text\/javascript\"><\/script><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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. [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[102,96],"class_list":["post-485","post","type-post","status-publish","format-standard","hentry","category-trading-tips","tag-technical-analysis","tag-traders-toolbox"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Traders Toolbox: Trading tools for today&#039;s markets - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2008\/06\/traders-toolbox-trading-tools-for-todays-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Toolbox: Trading tools for today&#039;s markets - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"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. 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