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Trading Tools

Regardless of what type of market analysis a trader uses, there is a set of tools needed in order to do the job effectively. Traders can not do everything themselves and need certain tools to carry out particular functions to get them through the day. Not having them could mean failure. Obvious basic tools are a computer, phone or tablet, additional monitors, internet access, a charting package, technical analysis tools and an execution platform.

Less obvious perhaps are a checklist, a cheat sheet, a trading journal, a stock screener, a calendar, a currency correlation tool, specific reports, a market hours timetable, a news squawk, a handy tool to calculate pivot points or an optimal position size calculator. Whether they are charting tools, or news gathering tools, whether they are high-tech tools or low-tech tools, whether you find them online or offline, serious traders rely on various must-have tools to support them. Selecting the right ones is crucial for smooth and efficient trading.
EXCAVO EXCAVO TOP BTCUSD, W, Education
BTCUSD: Elliott Wave
10831 42 280
BTCUSD, W Education
Elliott Wave

1. The Elliott Wave Principle posits that collective investor psychology, or crowd psychology, moves between optimism and pessimism in natural sequences. These mood swings create patterns evidenced in the price movements of markets at every degree of trend or time scale. In Elliott's model, market prices alternate between an impulsive, or motive phase, and a ...

MagnusTradingGroup MagnusTradingGroup BTCUSD, 30, Education
BTCUSD: Tutorial: Fib Extension Tool
6008 6 13
BTCUSD, 30 Education
Tutorial: Fib Extension Tool

You can use it for different things. my main use for it is to project targets based on impuls legs. not always will price follow the AB=CD target. instead it often reverses before reaching point D. This tool can help you identify alternative targets. Technically speaking the shown example of usage isn't called a fib extension but a fib expansion. you can get fib ...

Mutondi Mutondi BTCUSD, 240, Education
BTCUSD: To Indicator or Not To Indicator?  - Eduseries Week 2
220 2 14
BTCUSD, 240 Education
To Indicator or Not To Indicator? - Eduseries Week 2

"I trade like I bath" - the words of a self-created guru trader who wanted to convince me to join his "Premium Group" a while back. Although by his very nature the gentleman was a scammer and made more money through "teaching", those words lead me on a path which to a greater level of certainty in my own trading and analysis. (By the time we had that interaction ...

xcache xcache PRO XBTUSD, 15, Education
XBTUSD: Example of the measure rule. Bear flag on $btc 15m.
99 0 8
XBTUSD, 15 Education
Example of the measure rule. Bear flag on $btc 15m.

Here's how I use the measure rule. Shown on the 15M chart for $btc.

Technician Technician TOP ICSA, 3M, Education
ICSA: According to jobless claims, recession is unlikely before 2019
1170 9 85
ICSA, 3M Education
According to jobless claims, recession is unlikely before 2019

Jobless claims indicator has been a reliable indicator of recessions. By examining a historical chart that goes back to 1960s we see a similar pattern in the behavior of claims and recessions. Every single recession the U.S. encountered in the underlying period was preceded by a rise in jobless claims. The chart above draws the quarterly jobless claims. The ...

nahuel89p nahuel89p ETHBTC, 15, Education
ETHBTC: Crypto Monitor since BTC 1830 bottom
160 2 3
ETHBTC, 15 Education
Crypto Monitor since BTC 1830 bottom

BTC is shown off-scale (black). All alts in % scale, starting from BTC last rock bottom.

KellyBacile KellyBacile BTCUSD, D, Education
BTCUSD: BTC Aug 1 fork: the Exodus of the Hodlers?
1506 3 13
BTCUSD, D Education
BTC Aug 1 fork: the Exodus of the Hodlers?

As many of you are aware, BTC will be implementing a protocol on August 1st entitled Bitcoin Improvement Proposal 148 (BIP 148). This proposed user activated soft fork, or UASF, will implement segregated witness, or SegWit (does every crypto term have an acronym?), and ease Bitcoin's scaling limitation. However, there are many nodes that do not support SegWit, and ...

DollarBuddha DollarBuddha PRO GBPUSD, 60, Education
GBPUSD: Trading the News: How Dueling Speeches Affected the GBPUSD
53 0 8
GBPUSD, 60 Education
Trading the News: How Dueling Speeches Affected the GBPUSD

Just wanted to document how tracking the news should be an important part of EVERY trader's practice... Take for example, an hourly chart of this week's GBPUSD... In particular, notice how this week's MOST significant price action corresponds with two major speeches by UK officials. In the first instance, BoE governor Mark Carney delivered a "dovish" speech ...

cal268 cal268 PRO 2662, D, Education
2662: Over thinking is your enemy
72 0 4
2662, D Education
Over thinking is your enemy

Some analysts use many indicators to help them for decisions making. Some are not. It depends how much experience they have in this field. When I was learning civil engineering, my lecturer told all his students to remember this rule. "We don't need calculators or portable computers to to calculate bending moment when we are on site, the foremen and labours will ...

oakman oakman EMRATIO, M, Education
EMRATIO: Civilian Employment to Population Ratio -great tool
90 0 8
EMRATIO, M Education
Civilian Employment to Population Ratio -great tool

The head and shoulders formation is a classic sell setup that traders are familiar with. A close below the neck line is a sell signal for traders. Well, as you can see this was a signal of an economic downturn and it predicted it in the summer before the market crash in the fall. This would have alerted people to prepare for the impending doom and for traders to ...

timwest timwest PRO POP, D, Education
POP: $POP - United States Population Trends - Using TradingView Data
199 3 18
POP, D Education
$POP - United States Population Trends - Using TradingView Data

General education: Plotting fundamental data. POP gives you the population data for the United States. You can put the scale to log-scale so you view the same percentage changes in the data across the data series. What you can see here is a slightly different view. The pace of growth from 1975-1986 continued forward until today shows were are on that same ...

timwest timwest PRO SPX500, 3M, Education
SPX500: When Continuing Claims for Unemployment Bottoms, S&P500 Rallies
587 2 42
SPX500, 3M Education
When Continuing Claims for Unemployment Bottoms, S&P500 Rallies

The market is always worrying about various data series and the impact on the stock market. Today, this one was inspired by a Tweet by someone I follow on Twitter that I respect. The point of this chart is to show you the batting average of "What Happens When The Unemployment Claims Bottoms Out"? Technically, we don't know this is the bottom yet, but you can ...

Daniel.B Daniel.B VXLE, D, Education
VXLE: Just a post for new traders to read =)
767 5 20
VXLE, D Education
Just a post for new traders to read =)

Worth a read, don't be lazy lol =D Disclaimer: I do not benefit from any of these books or from amazon.com -The Risk of Trading: Mastering the Most Important Element in Financial Speculation (Wiley Trading) -Global Macro Trading: Profiting in a New World Economy (Bloomberg Financial) -The Psychology of the Foreign Exchange Market (Wiley Trading) -Day ...

JasperForex JasperForex PRO EURUSD, 30, Education
EURUSD: Non Charting Tools for Forex Traders
3132 42 40
EURUSD, 30 Education
Non Charting Tools for Forex Traders

I am listing the tools I use daily, during my trading schedule, when I trade the Forex market. I am using general descriptions in this list since I am not endorsing any particular paid service, or website. Tradingview A high quality charting platform with all the price charts and many powerful yet intuitive tools. Every single trade I take I chart it here first, ...

MagnusTradingGroup MagnusTradingGroup BTCUSD, 30, Education
BTCUSD: Fib Extension Tool
461 0 5
BTCUSD, 30 Education
Fib Extension Tool

You can use it for different things. my main use for it is to project targets based on impuls legs. not always will an ABCD pattern have the AB=CD 1:1 ratio. CD will often be in a fib ratio to AB like indicated on the chart. using the tool you can find different levels quickly and even set your own custom level values. You can find it in your drawing toolbar by ...

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