Analytical Tools Useful For Traders!

Discussion in 'General Trading Discussion' started by TraderAnalyst, Nov 1, 2019.

  1. TraderAnalyst

    TraderAnalyst Senior Investor

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    Today retail traders are trying to determine right entry or exit prices for their trade execution decisions with the help of various analytical tools. Such as: many traders are relying upon technical analysis, using various short term resources such as pivot points, candle stick charting, moving average, MACD and various charting tools.
     
  2. J_C_Anderson

    J_C_Anderson Senior Investor

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    As for me, technical indicators are very useful. In fact, there are two main ways to utilize them:
    - As an additional confirmation for the entry signal provided by other system (e.g. chart or candlestick patterns),
    - as a main element of the strategy.
    By the way, such strategies based on indicators could be easily automated.
    Nowadays there are a lot of indicators, so it is a bit difficult to get familiar with them, especially for a newbie trader. So, if you have no experience with indicators previosly, you can start with various reviews and articles providing general information about indicators, their types, features and purposes. Then, knowing these basic elements, you can watch video materials to learn how to use indicators properly in your trading process.
     

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