What is Technical Analysis and how can it help your trades?

“Technical Analysis” is a complicated-sounding name for a very basic approach to trading. Simply put, it is the study of security prices in order to make better trading decisions. The primary tool of the technical analyst is a chart showing price and volume. By identifying patterns over time, technical analysts are often able to predict the direction of the market, and specific securities. Of course no one can predict the future, but remember successful trades are about beating the odds and making more winners than losers, and protecting one’s profits. Technical Analysis provides that edge to a great deal of successful traders. In the pioneering days of technical analysis, charts were painstakingly hand drawn. Fortunately computers now perform the tedious aspects of charting. To be sure, many charting software programs have come and gone, but MetaStock has set itself apart for over 30 years as the choice of serious traders.
The primary tool of the Technical Analyst is a chart showing price and volume... among other things.