Hello from a technical analyst

[mbsingh]

Hi! Nice to be in the market, provided you know what you are doing. Playing here looks easy. Looks can be deceptive is the best suited phrase for it. Every one is out here to rob you of your money. Stock markets are the world,s most difficult arena to be in. Master the tools of the trade. or take profesional help.
I would recommand a book "Trading for a living" By Dr.Alexzander Elder. It is one of the best book. Amust have and every one should have under the pillow everynight and in the hand through out the day. Every word is important in that book.

Dont risk without calculating it. And to calculate you have tomaster master many formulas you get through books and meeting successful traders. People who are most successful in their respective field loose more here.

reason is simple they fail to understand basics of this field and compares this with their own field.

regards,
MBS

 

[sh50]

Good stuff though most of it is given in trading books but always pleasure to revise basics. Surprising fact is that there is no proper TA education in India.

 

[mbsingh]

Yeah! it's true its all in the books. How many traders read the books that counts. you may revise it to refresh your memory but for a few this could be eye opening and life changing.I think you would agree. Traders generally dont buy books. Books looks expensive as most of the good books are in the range of Rs 1500 5000. But they have value. People compare the cost of stock market books with the general books. That's why these books look expensive. Value is totally different thing and most ignore it easyly. Lets examine the correct way to judge the value of any thing. For example there is a house with 1000 Sq feet area with 2 bed rooms. Its value is directly proportionate to the place where more opportunities available to live a livelyhood. The same house may fetch a rent of Rs 1500 in a village Rs 4000 in a town but same house would go over Rs 10000 in Mumbai. Why! because a town has more opportunities than a village and a metro has much more opportunities than a town. Similarly 100 page general book might not get Rs 100 but a stock market related or any other specialize knowledge book can sell for Rs 1000 Rs 5000 or may be Rs.10000.
I have purchased books for Rs 250 and Rs 5000. I always find value in them may be some time less than i expected and some time more. It is all in your attitude. What you think goes to your mind. whetever once goes in, cant be taken out. A negative thought can not be erased in the brain but One can dilute it with pumping in more positive. Have a nice trading. MBS

 

[bakshi43]

Dear Mr Singh
I am also a trader based at NOIDA. I have come to this field very recntly. Can you please suggest me some good book on TA and also on traders psychology.

 

[mbsingh]

Hi Bakshi43! Buy a book "Technical Analyses explained" by martin pring.You can find this book locally for approx. 1000 rupees. Buy "Trading for a living " by Dr. Alaxzander Elder. It is not available off the shelf but with some efforts you can get it through Indian news agency or some other source or on internet.

 

[mukeshsingh]

i think information provided by you are really great sir,
i am student and are investing very little to learn .

i am pursuing CFA and very much intrested in equity analysis and technical analysis
could you suggest me some thing to acquint about the market . iwould be very thank ful if you choose me as your disciple

your sincerely

mukesh singh

 

[faifar22]

I agree with the above viewpoint. However I could like to add that the Indian Stock Market is not only technical but also RUMOURS. It is always and it will be ever that " ONE BUYS ON RUMOURS AND SELL ON CONFIRMATION OF RUMOURS" no doubt one shouldd not ignore the fundamentals but keep the markets mongers in mind

keep

 

[BHARTIJH]

I am really surprised that no body mentioned the book written by Ashwini Gujrat, " How to make money trading derivatives". It is one of the finest book avaialbe for tradign F&O in indian market.

Any other Indian Market Specific book for tradign F&O if anybody know pls let me know

 

[Saint]

Yeah! it's true its all in the books. How many traders read the books that counts. you may revise it to refresh your memory but for a few this could be eye opening and life changing.I think you would agree. Traders generally dont buy books. Books looks expensive as most of the good books are in the range of Rs 1500 5000. But they have value. People compare the cost of stock market books with the general books. That's why these books look expensive. Value is totally different thing and most ignore it easyly. Lets examine the correct way to judge the value of any thing. For example there is a house with 1000 Sq feet area with 2 bed rooms. Its value is directly proportionate to the place where more opportunities available to live a livelyhood. The same house may fetch a rent of Rs 1500 in a village Rs 4000 in a town but same house would go over Rs 10000 in Mumbai. Why! because a town has more opportunities than a village and a metro has much more opportunities than a town. Similarly 100 page general book might not get Rs 100 but a stock market related or any other specialize knowledge book can sell for Rs 1000 Rs 5000 or may be Rs.10000.
I have purchased books for Rs 250 and Rs 5000. I always find value in them may be some time less than i expected and some time more. It is all in your attitude. What you think goes to your mind. whetever once goes in, cant be taken out. A negative thought can not be erased in the brain but One can dilute it with pumping in more positive. Have a nice trading. MBS

Hi mbsingh,
Very nice writeup....Am a voracious reader myself and totally agree with the fact that one can dilute the negative with pumping in a lot of positive.Being self taught in this field,books have been my greatest companion and guru.In a time of crisis,that one point in a book has pulled me out of trouble.At a time of over confidence after a string of huge wins,one point in a book has put caution back in the head and to be careful.
Even though they're all in the books,I still find great value when a fellow member posts tidbits from books or advice on some tech/fundamental analysis,etc.or an article on Risk or Money Management.
Thank you,mbsingh.......and keep em coming.Enjoy your posts!

Happy Trading
Saint

 

[kripakar_k]

hi,
can u suggest some good books?