What are the essential trade tools to be present in a traders toolbox ?

No friend, dont put a mental block to yourself telling that the understanding if beyond our control, this will block us mentally. I was of the same thought when i started and infact never learnt fibonacci tool for more than a year. Its almost after that i learnt it from baby pips. Try baby pips website they have explained it in a simple manner and once learnt it is very much easy to handle and analyze. I feel fibonacci should not be neglected because those are the critical levels which the traders all over the world will be looking for entering or exiting the trade.

Time is the critical factor in learning no matter which ever field it is. Defintely just knowing the theoretical part and not implementing the same is of no use anywhere, we need to learn to play along with the indicators and the market. Manipulating in the manipulation market :lol interesting, what do you mean exactly ?

Anything while learning should be made simple for our understanding and application. Undoubtedly the history repeats, we should know the three basic kind of chart patterns which could be either leading to reversal, continuation or any direction movement. Seeing these chart patterns on a larger time frame is always beneficial. Another tool contributed from our japanese friends.

Ah now that comes handy correct. Regarding the drawdown in the equity, it falls under following the primary rule of trading i.e., applying moneymangement and trade according to the equity. The things are clear most of the times, its just that we complicate ourself and bust our account. Its better to always first to analyze and then trade or place our positions.