Saturday, September 4, 2010

ATA meeting ends well

The Association of Technical Analysts held its monthly meeting in Delhi, today. The topic was different: Speakers were requested to share their current strategies / themes.

Me, Sudarshan, explained the tools I use to analyse the Nifty. I discussed the current theme I am using in my trading.
Sunil Miglani told us how to prepare a shortlist of stocks for day trading.
Rajesh Jain, NSE Member, Private Trader, shared four different short term trading strategies for the Nifty, which he currently trades.

ATA members who were not present will have access to the slides.

This is the first of what we hope will be monthly interactions between members where the participants discuss themes and strategies.

If you are not a member of ATA, then join it now. Visit http://www.taindia.org/ for more details.

3 comments:

kk said...

RESPECTED SIR

I ATTENDED THE 7th MONTHLY MEETING OF ATA. ALTHOUGH, IT WAS MY FIRST MEETING AND TRULY WAS A GREAT EXPERIENCE.
MY FATHER HAS TAUGHT ME ONLY ONE THING """ !JUST BE HUMAN! """ , NOTHING ELSE. YOU CAN'T BE MAHATMA GANDHI, JAWAHARLAL NEHRU etc , BECAUSE THEY WERE THE ONLY ONE. YOU CAN ONLY BE YOURSELF !!A HUMAN!!.

SIR , YOU ARE THE !!!!ONE!!!!

THIS IS NOT SO CALLED ""CHAMCHAGIRI "" . I HAVE NOT SAID THESE THINGS BEFORE AND I AM YOUR CONSISTENT BLOGGER. I AM SAYING IT, BECAUSE I HAVE OBSERVED IT. YOU WERE SO HUMBLE,DOWN TO EARTH ,MEETING EVERYONE, TALKING TO EVERYONE, SHARING YOU PRECIOUS TECHNIQUES WITH EVERYONE . YOUR SIMPLICITY AND HONESTY WAS THERE IN YOUR FACE.

NOW I HAVE REALIZED BEING HUMAN IS DIFFICULT, BEING SUDARSHAN IS EVEN MORE DIFFICULT.

Sunil Malhotra said...

I had read this post in moneycontrol.com message boards as it's about TA, so I am sharing it with you. It's someone else's view. He has also written about Anu Jain which I donot agree as TA is sometimes going with the flow. QUOTE"
Do not believe in Trading - If you are a Trader, Believe me eventually you will go from here losing all your money and confidence... Invention of trading is done by Selfish big brokers....... When they say `Buy Reiance, target 1000, Stop loss 900`...... all the greedy traders buy Reliance and BECAUSE OF THEIR BUYING , price becomes 1,000 and they think Great ..... That broker is genius ! And if the price comes to 900, Stop loss is triggered and they start selling as per broker`s instruction and price falls further BECAUSE OF THEIR SELLING.... They again think that broker was genius in giving Stop loss...... he saved the from further loss !! This way those selfish brokers can exploit the traders and make them buy any bullshit company.... Take example of Anu jain of India Info line who 3 days ago said ` Buy Ind swift Labs, Target 140`..... Price currently is 125... 125 se 140 price ho bhi gaya to kya teer mar legi vo !! Where was she when just 3 months back price was 67.... Was Ind swift labs not attractive at 67 and it became attractive at 125..!!! Great !! I gave a buy call on Ind swift labs when it was at 67 and remember I did not give any TARGETS ... Just I want to ask Anu Jain from where this figure of 140 is coming suddenly and why 140, why not 150 , why not 135......... No, there is a reason behind giving a TARGET... Because fool traders wants to know HOW MUCH they will earn in HOW MUCH time.. They can not wait for one year in these times of everything INSTANT...... Instant Coffee, Instant Pizza ..... and when demand from fools is there for these kinds of TARGETS, obviously supply will come from ... Simple rule of economics...... I see here on Moneycontrol that out of 10 questions, 8-9 questions include the word TARGET..... And big boarders here with 1,000 or 2,000 followers are giving the same bullshit advice of TARGETS and STOP LOSS.
You must have heard about Paradox of life that if you will not run behind money, money will come behind you..... This perfectly applies to stock market.......... Only Pateint investors who are not in any hurry for their shares to go up can earn money here....... But to get that patience, you need to understand Fundamental Investing....... All the legends like Warren Buffett, Benjamin Graham, George Soros and everybody are against Technical Analysis...... If we could tell the future of a share just by reading charts, richest persons would have been Geometricians....... But you will say that Technical Analysis also works and share price and markets moves as per charts......... There is a reason behind this ...... Becuase majority of investors are investing as per charts and price moves according to majority.......... So they think that chart is working.... No, chart is not working ...... It is their COMBINED BELIEF over charts which is working !!! When the price comes to so called SUPPORT , all starts buying and price rises and they think WOW ! what a great support share has at a given level.
Continued in next comment

Sunil Malhotra said...

Continued from 1st Part...
And because of their this foolish behaviour ,we fundamental investors get benefitted........ If all the shares starts trading at their fair value, there will not be any need to do any research..... You can just pick any share randomly........ But No, shares are not trading at fair value..... Because of crowd behavious, some are overvalued and some are undervalued............ Mr Buffett has said one statment which I like very much `` Had the market been efficient, I would have been a Bum in the street with a Bowl in my hand !!``.......... So, in one way , by telling you the above secrets of trading, I am doing big loss for myself........... Because if everybody starts doing fundamental investing, shares will trade at fair value and we fundamental analyst can not make money......... But I do not care for money ........ I have as much as I need.
So, bottom line is that STOP TRADING and learn Fundamental Investing before coming to stock market......... And if you can not learn Fundamental investing, then I will advice you to invest in some other business.......... It is better to earn less instead of losing everythng........ Happy investing"
Unquote
Regards
Sunil Malhotra