Technical Analysis tools for Stocks and Options trading
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Technical analysis has become extensive in recent years. Technical analysis works 60 to 70% of the time, and this is because fundamental events (earnings reports, lawsuits, mergers or acquisitions and many more events) always trump any technical pattern. However, in the absence of fundamental events, which is 60% to 70% of the time, technical analysis works because traders don't have any other information to go by.
There are several categories of technical analysis - Price indicators, Support and Resistance levels, Momentum indicators, Volume indicators, Oscillators and Statistical price movement indicators. This is again an area where the KISS rule applies - Keep It Simple S-----. We cut through all the noise and show you some of the key indicators you should study and that's all you really need to make informed entry and exit decisions. Technical analysis is a self-fulfilling prophecy and gives deep insight into crowd behavior. The more people follow Technical analysis patterns, the more they are likely to take action in some sort of co-ordinated manner.
Hope you enjoy this comprehensive suite of 10 very important Technical analysis tools. You will undoubtedly prefer some over the others, and that's fine. The key is to use the correct type of indicator for the specific situation you're trying to analyze.
The analysis and practical application of these Technical analysis tools are demonstrated on a Live trading platform with several examples. In that regard, this is a very practical guide to understanding Technical analysis tools.
List of Technical analysis tools covered for Stocks and Options trading
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|Section 1: The Technical Analysis Toolset course|
Introduction and OverviewPreview
Support and Resistance are two of the most popular technical indicators. This video studies the psychology of Support and Resistance.
We use the S&P 500 Spyder ETF (SPY) 1 year chart. We identify strong support levels at the 110 level and study the battles being waged at that level. Support points represent battle areas, and even though buyers are expected to come in and buy at those support levels, it does not mean that the stock will go up from that point. It depends on the intensity of the battle that is waged at that level. If you wanted to buy a stock at a support point, you'd wait to see who won the battle - buyers or sellers, because it could go either way. Once the result is decisive, that's when you move in.
The MACD is a powerful Momentum indicator to be used best in longer term trades.
Use the MACD to stay in a winning tradeIdeal for swing trades for a few weeks. Learn how to use the best features of the MACD whether you trade Stocks or Options.
Master the proper application of Oscillator indicators to determine oversold or overbought conditions. Get entries and exit right. Oscillators can be a useful addition to your technical indicator arsenal. In this video, two of the more important Oscillators are analyzed in detail - the RSI and the PercentR.
Standard Deviation is widely used in the financial markets to study different price movement patterns, especially in the Options markets.
The statistical concept of Standard Deviation is widely used in the stock markets, and follows the principle of the bell curve of a normal distribution. In fact, this concept is applied in various contexts - understanding Volatility, Probability, and estimating ranges for stock price movements. In this video, we cover how standard deviations are represented on a trading platform and what their importance is. Although standard deviation calculations reflect past prices and does not predict future price moves, its always good to have an idea of how a particular stock moves.
Bollinger Bands are a very popular technical indicator that can signal reversal points. Bollinger Bands are based on Standard deviation parameters.
Bollinger bands are a Technical analysis tool that provides helpful information about stock price movements. Specifically, the bands can be configured to show if a stock has moved past its 2-standard deviation points. The statistical definition of 2 standard deviation moves tells us that such a move outside the bands is likely to happen only 5% of the time. In this video, we show you what a Bollinger band is, how it can be configured, and how to glean insights from Bollinger bands. Specifically, Bollinger bands can provide good signals for trend reversals.
Also called OBV, this is an important indicator that shows money flows in and out of stocks.
With Volume being such a key (and often under-utilized) parameter in the markets, one indicator stands out for a couple of specific uses - identifying Reversal points in a stock.
The indicator is the On-Balance Volume (OBV). To explain it simply, it tries to measure if money is coming into a stock or going out. It adds the current day's volume to the a running cumulative total if the day was up (which means there was more buying activity). And it subtracts a day's volume from the running total if it was a down day. By doing this, it adds a layer of analysis that combines price and volume in one indicator.
For the most part, the indicator simply confirms the price trend. Where it is most useful is when it shows a divergence from Price.
How to effectively use Fibonacci retracements to give you an edge on trade entries and exits. Fibonacci is not as complex as you thinkUse the most important features of Fibonacci. And learn to apply Fibonacci retracements for maximum profit potential.
Understanding how strong or weak the Market internals are can be crucial to positioning trades aligned with the markets. Study the "breadth" of the market. Position your trades based upon the internal strength of the markets. This Free video gives a roadmap of what to look for when it comes to market internals.
Volume is one of the most under-utilized indicators. Use the Volume Profile to identify support and resistance clusters. Volume can identify critical zonesIdentify support and resistance clusters. Put higher probability into your trade entries and exits
This video explores the Probability analysis tools on the Thinkorswim platform. This is especially important for Option sellers. Probability analysis goes to the heart of understanding how the markets work. In the Options market, probability analysis plays a big role if you assume the position of an Options seller. Bear in mind, you are the Insurance company when you're an Options seller, and the business model of insurance companies is deeply rooted in statistical and probability analysis. We take you behind the scenes on the Thinkorswim platform and show you some cool tools on the platform. Even if you're a Stock trader, this analysis will help you think about markets in a mathematical and statistical manner.
Technical Analysis Quiz
Knowledge. Strategy. Execution.
Hari Swaminathan is the founder of OptionTiger, a cutting-edge Options education and trading company based in Washington D.C.. Hari is an entrepreneur, everyday person and a self-taught Options expert for over 8 years. Hari has a Bachelors degree in Engineering from India, and MBA degrees from Columbia University in NYC and London Business School in the U.K.
More than ever, its become important for everyday people to take control of their financial situation, and create additional income in a smart, risk-controlled manner. This is precisely my mission. Through knowledge, education and investment discipline. Options are powerful, but they have a learning curve. I've broken down all the complexities of Options in simple language that everyone can understand. The courseware uses real trade examples, always highlighting the pluses and minuses of every investment situation. Options provide the best way to take advantage of bull cycles, bear cycles and everything in between.
As someone that has self-learnt Options and through making mistakes, I can tell you Options trading is not something you should take lightly. You will hear people talking of fantastic triple and quadruple digit returns. I'm here to be brutally honest with you -
- Be very very careful in the first 12 months of Options trading.
- This is when everyone is the most vulnerable to losing money.
- Your main objective during this time is to focus on learning this craft and not lose money during this time.
Having said that, if you can get past the first 12 months and acquire the expertise in a systematic manner, true financial independence awaits. Options are a mathematical and strategic game much like Chess, and no amount of technological advances can make this skill obsolete, because the fundamentals of Options are never going to change.
You can trade Options from anywhere in the world, regardless of how old you are. You never have to worry about job security any more because you have a skill that can produce consistent wealth month after month.
But you have some serious but exciting work to do before you can get there, and I'm here to help you in this journey.
Watch my Free Course for Options Trading Beginners where I draw out a detailed roadmap of what this 12-month journey looks like, and the specific strategies you should master during each step of this learning process.
Watch my Free Mini-courses or my YouTube channel , all of which have the highest quality of education material.
And join me in my UDemy courses, where I share cutting-edge theoretical knowledge mixed with practical insights, strategy and impeccable execution through live trading examples.
If you have any questions at any time, please feel free to message me on Udemy.
The order to follow on my Udemy courses
Comprehensive guide to Financial Markets, Investing and Trading
Options Trading Beginners Bundle (3-course Bundle)
Advanced Options Concepts
Options spreads and credit spreads Bundle
Technical analysis and Chart reading Bundle
After this, the order does not matter. You can take any of the courses as per your interest.