28. Building Your Technical Toolbox
OK, so now you have grasped the concepts of technical analysis and can put several to use in making your investment decisions. The next step is to balance your approach to analysis with the proper tools.
Like quality carpentry, quality technical analysis requires the right tool for the right job. While a hand saw can cut wood to build a table, a power saw with built-in guides can do it with a much higher degree of precision. Conversely, the back end of a screwdriver can pound a nail, but choosing the right tool, a hammer, protects both the carpenter and the tool. This chapter will outline what tools should be in a good technical toolbox.
Technical Tasks
Technical tasks are simply the analyses ...
Get Technical Analysis Plain and Simple: Charting the Markets in Your Language, Third Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
