 Letter from the President - Page 3  Editor’s note - Page 4  Indicator In Focus: Trend Analysis Using The RSI by Andrew Cardwell – Page 5  Four Emotional Battles With the Markets by Deepak Shenoy - Page 10  Option Trading Using Charts by Abhiji Phatak- Page 13  Book Review by Sumeet Jain- Page 19  Forthcoming Events - Page 21  Past Events’ Updates - Page 22  Past Webinar Updates - Page 23

This newsletter is produced by the Association of Technical Market Analysts. All comments and editorial material do not necessarily reflect the organization's opinion nor does it constitute an endorsement by the Association of Technical Market Analysts or any of its officers, of any products or services mentioned Sources are believed to be reliable at time of publication, but not guaranteed. The Association of Technical Market Analysts and its officers, assume no responsibility for errors or omissions.


OCT 2013

Sincerely.10 X of the usual pricing of such programmes provided elsewhere. I continue to solicit a wider participation from our membership in owning our various initiatives and creating a wider leadership basis. outside of the banking system. commercially. Head of Forex Treasury at Reliance Industries Ltd. we have been able to squeeze down the participation fee for delegates to an unbelievable 0. Thus. Members and non member patrons of ATMA will likely benefit much by reviewing the video recordings of his presentation on our website. Asia’s biggest currency trader. In time.LETTER FROM THE PRESIDENT Dear Colleagues. as per Euromoney polls for the last three years. I look forward to our membership taking full advantage of such opportunities. a disciplined execution of tested rules. ATMA has been able to assemble together an unprecedented learning programme in the tutelage of Manish Jalan. to the hilt. The agenda for the ATMA continues to expand and I will likely never be able to over-emphasize the significance of volunteerism. that you celebrate your achievements and the unique faculties each of you has been bestowed upon with. I earnestly look forward to a thicker participation in this publication process from all stakeholders. spoke at the recent Mumbai monthly meeting. Algorithmic Trading. if they could not attend this meeting. Sushil Kedia OCTOBER 2013 ATMASPHERE | 3 . we may be able to take forward such programmes in other vibrant chapters too. Excellent readings continue to be compiled regularly by our Editor and the present issue goes a step forward further in this direction to continue to keep ATMAsphere an industry leading publication. Greetings of the Festive Season! Here is a wish for you and your family this Diwali. a well known Algo Trader by way of a two day workshop in Mumbai in the coming month. Given our not for profit nature. is the next logical step to application of study of market action. “Thyaguji”.

We expect you to continue writing and at the same. Please send in your contributions and feedback to editor@atma-india.net. Deepak Shenoy elaborately describes the four emotional battles that the traders face at marketplace. ATMASphere is only expanding the subscribers’ list each month. You can also subscribe to ATMASphere completely free by clicking here.EDITOR’S NOTE In this issue 1. 3. 2. Sumeet Jain reviews “Trade Chart Patterns like the Pros” by Suri Duddella.the legend – explains the concept of Divergence and Ranges on RSI with chart illustrations. Meghana V Malkan . We are truly thankful to each of you for the publication’s success. Andrew Cardwell . Sincerely. motivate your fellow members in the technical analysis fraternity to do the same. Abhijit Phatak illustrates how the basic tools of technical analysis can be employed to analyse and trade options’ charts.

ATMASPHERE | 5 . momentum would fail to make a new high (or low). and give early warnings of a trend change.INDICATOR IN FOCUS: TREND ANALYSIS USING THE RSI BY ANDREW CARDWELL The ideal indicator would be one which offered the capability to identify and monitor the current trend. should be predicated on whether it is for shorter term or longer term trading. It is also one that is most often misunderstood. That momentum would peak before price in an uptrend or bottom first in a downtrend. misused and underrated. the Bulls are ready for a reversal of trend and the start of a Bullish stampede to the upside. highlight overbought and oversold extremes within that trend. As a completely independent trading program it can be used for identifying: Trend. However. most traders fall prey to this concept of divergence and see it as the end or reversal of the prevailing trend of the market. After a correction as price made a new high (or low). Basic price/momentum divergence can and does help to identify an extreme overbought or oversold condition in the market’s momentum. Divergence (Bullish/Bearish). DIVERGENCE The RSI was originally developed by Wells Wider (Trend research. Moving average systems would be considered trending studies. The Relative Strength Index (RSI) is such an indicator. as they smooth volatility to help OCTOBER 2013 of hibernation and want to sink their claws into what they feel will be the next Bear Market. Hendersonville NC) in the late 1970’s. and not confirm the new price movements. Momentum oscillators are usually considered to be trading indicators. 2. and Price Targeting. the length of the moving average selected. identify and monitor the current trend. The RSI can be used as either a completely independent trading model or an enhancement of your current technical approach. Of course. When Bearish Divergence develops. be categorized as either trading or trending technical studies. The basic premise was two-fold: 1. Most technical indicators employed by traders can. as they use market volatility to identify overbought or oversold valuation levels. As Bullish Divergence develops. Trend Change and Reversal. the Bears come out The RSI is probably one of the most dynamic and powerful indicators available to today’s traders. or time period assigned to the oscillator used. This non-confirmation is characteristic of most momentum based indicators and has been duly noted and accepted as divergence. it is available on almost every technical analysis software program. Support and Resistance. in general. Overbought/Oversold Levels. It was designed as a momentum oscillator to help identify divergences (non-confirmations) between price movement and momentum. One of the most widely used. offering the best of all worlds.

All would be right with the world if markets were to reverse from simple divergence. multiple divergences can and do develop. trend analysis. But there are times when sentiment and momentum are so strong that the market continues to make new highs (lows). he or she would need deep pockets and eventually exhaust his or her trading capital. When market conditions develop. Identify the current trend and keep the trader positioned property in the direction of that trend. However. If a trader attempted to take positions based solely on divergences. After these brief respites the market is then ready to resume its normal upward (downward) trend. but those are just two of its analytical applications. IMPORTANCE OF TREND Most traders and analysts use RSI as an oscillator to identify overbought/oversold levels and divergences. give early warning of a possible impending trend change. Since markets generally trend approximately 60-70% of the time. which will keep the RSI at overbought (oversold) levels for extended periods of time. which only lead to corrections of the overbought (oversold) condition of the market. anxious traders are ready to call for a top (bottom) and reversal of trend. 2. are usually sharp and swift. and. Momentum and price corrections. identification and change should be foremost in the mind of the . The RSI’s more dynamic and significant contributions as a tool are its ability to: 1. whereby the trader can reverse the position. in strongly trending markets. With each successive new high (low) and divergence formed. when they do materialize.

we use the following as guidelines: RANGES OF RSI: 1. When positioned properly with the trend there are also fewer trading decision that have to be made. any surprises which may develop in market activity are usually in the direction of the intermediate and longer term trends. and trade in the direction of that next trend is the skill which traders must develop to be successful. Using the 14 period value on close as the standard for most of the markets we follow. or 21. 3. By having a position in tune with the trend. The parameters for the RSI values are 0-100. 14. Since markets trend. depending on the period value selected by the trader’s perspective. The original value of the period established by Welles Wilder was 14. or 9.trader. which was based on being the half-cycle length of the 28 day or lunar cycle. Extremes for overbought and oversold levels vary slightly. 5. 7. The ability to recognize a trend change quickly. 4. reverse a position. “Normal” Range: 30 – 70 “Uptrend (Bull Market): 40 – 80 Downtrend (Bear Market): 20 – 60 Trading Range: 40 – 50 points RSI RANGES OCTOBER 2013 ATMASPHERE | 7 . the trader will have the opportunity to participate in the bigger market moves which generate larger profits. 2. Day traders or shorter-term traders will generally employ values such 3. and longer term traders usually use either 9.

60 shows as overbought and 20 as oversold. momentum normally takes prices to lower levels due to liquidation and the absence of buying. For an oversold market the range may be from 30 down to 20 or 10. but he will also stay with the trend longer than he normally would have and hold a position for We consider the “normal” range to be the levels between 30 and 70. which is where 60 – 70% of trading activity takes place. When sentiment is extremely maximum capital appreciation.bullish. When sentiment is extremely bearish. Applying the same 40 point ranges for downtrends. The levels for an overbought market can range from 70 up to 80 or 90. depending on the time period selected. When a market is in a gradual uptrend (or downtrend) the RSI will normally ebb and flow within this range as the market trends higher (or lower). . Taking the average of the overbought and oversold values we established 80 and 20 as better values for consideration of overbought and oversold levels. not only can a trader identify uptrends from downtrends. As long as the range of 60/20 remains intact. so when markets start to move we must adjust for this shift in sentiment and psychology. we should continue to see lower lows and lower highs. The standard 14-period RSI normally stays within a range of80 and 20. momentum takes prices to higher levels. Uptrends show 80 as overbought and 40 as oversold. Using the same 40 point range based on the 30 and 70 point values. As long as the market stays within the 80/40 range (uptrends). we should see prices make higher highs and higher lows. We adjust the range of RSI to account for these higher levels. Taking note that the range has shifted from 80/40 to 60/20 should be a strong indication that the trend has shifted from being in an uptrend to being in a downtrend. By employing range analysis to RSI. People are bullish by nature.

and even though you made money on the trade you offset the position much too soon. If you lost money on a trade. As a very respected and sought-after lecturer. THE “3 KEYS TO SUCCESS” If you include the guidelines which I have presented here for RSI range analysis. have the patience to wait for the signal and the discipline to stay within the parameters of your program and stay within yourself. you were probably short in an uptrend (80/40) or long in a downtrend (60/20).com. As an exercise to further educate yourself. Patience and Discipline. (www. he has presented at some of the most prestigious worldwide financial conferences. Inc. I believe you will find that they will help you make better trading decisions and stay in tune with the trend. always remember OCTOBER 2013 ATMASPHERE | 9 . As a final note.cardwellrsiedge. take the time to go back and review your trades over the last 6-12 months and apply the 80/40 and 60/20 range rules.com) provides consultation and commentary for his RSI course students and his Cardwell Private Client Group. He has taught his proprietary RSI Basic and RSI EDGE courses to individual to students in 27 countries. Andrew Cardwell.” Trading Program. You will probably realize that you were positioned properly in a trend. president of Cardwell RSI EDGE.the “3 Keys to Success.. You can reach him at cardwellrsi@gmail. Follow your trading program.

(Note: there is much more incentive for manipulators to keep prices high. despite clear evidence that she was sexually molested. Brett Steenbarger. is what should happen eventually. the crisis in Europe etc. you hear voices of support that the markets are full of manipulators who are keeping prices low. even now. (I’m not against great startup ecosystems. only to be rejected” We tend to do this all the time. The Disastrous Denial To any market player. When a stock starts to fall. she reaches out to him. But even there. Stocks move against your careful analysis. and the first reaction that we get is one of denial.in and is republished here with the permission of the Author. to pretend that what we need to happen. there is a tendency to focus on being entrepreneurs and gathering brownie points from the mere status. refuse to sell because the India story is still strong. Japan and China. because it will discourage new entrants. In general that is true. than from the actual startup itself. ignoring reality in the face of something more attractive. there were . and frequently humiliated. Among startups recently. and will not use the term "abuse" to describe what she went through. She insists that she must have done something wrong to upset him. and then. in “Accepting the Obvious” gives an example of a victim of childhood abuse: “A victim of abuse in childhood insists that her father was caring and minimizes the pain of her childhood.FOUR EMOTIONAL BATTLES WITH THE MARKETS By Deepak Shenoy This article was originally published in the MarketVision Chronicle at http://www. I heard one of those in the startup “ecosystem” mention that we shouldn’t talk about how low past and recent exit valuations have been. so everything against our view seems just fleeting and temporary. The denial of the great startup non-story is simply another concept where we will ignore the facts to enhance our needs. we tend to blame a market fall on FIIs exiting.marketvision. I’m concerned we are kidding ourselves if we ignore the horribly low numbers that exits have seen) The startup market is a market with real money being made – the statement that the best is yet to come is as good as saying that India is just emerging and the best is ahead of us. physically beaten. It’s easier. for our brains. Traders face psychological battles every day – here’s four of them that you might identify with. and there are far more instances of market players manipulating to the upside) Even at a broad level. They surprise both in the direction and magnitude of the move. She undergoes periods of depression when. America. and has been true of every great story – Europe. most market moves are astounding.

leveraging themselves hugely in the process – a recipe for eventual disaster when the index moves by a larger amount than expected. and in the process. and it was apparent that at least on the Nifty (where options are the most liquid) there were long periods of no-trades-available for someone only interested in buying options. The lesson is to question ourselves. but they don’t fit my qualification criteria. Dialogues go like this: Investor: My stock went up 5x! You: Wow. Sometimes there are just no stocks out there to buy. and move on.5%. Maybe that works for some people. the Nifty had moved over 10% .1%. 2011 and 2012 saw less than 10 such weeks each! OCTOBER 2013 With the drop in volatility. In the face of facts.000 stocks in its portfolio. You can’t afford the denial. option premiums fell. even if you average weight your stocks. It’s not what you did that’s as important as what you learn from it and what you intend to do. got absolute risk. The number of big move weeks – when. since I have 1. set themselves up for massive failure.1% of my portfolio in it. A pure option buy based strategy would have failed miserably in these years.had peaked in 2008 and 2009 (with over 19 such rolling periods each). only because I want to trade stocks? There are sometimes months when the markets don’t move. Sure. and in the bargain. I had only 0. You must have made a killing! Investor: well. or too much It’s said that one of the most successful funds at any time once had more than 1.4%. If there wasn’t an entry point anywhere. that he couldn’t sleep properly if he didn’t have a trade on – so he’d take on a Nifty trade just for the heck of it. At this time. Even for option sellers (like those who wrote straddles) premiums fell so much they would have to take many more positions to get the same absolute return. ATMASPHERE | 11 . Why trade when there is no trade Traders get addicted to the adrenaline of trading. so it’s now 0. and time decay ate a substantial portion of option premium. there is no trade – should I dilute my criteria just because I want to trade? Should I choose stocks. in a period of a week.people that denied there ever was a problem. where success is a sell point away and adds both to profits and to self-esteem. to admit we were wrong. Cash is a position. A trader once told me. They took trades because they had to get the absolute return. so I made 0. Putting on too little money. when there is booming market in commodities instead. having that many positions means. you will do it every other day. 2010. there may be some stocks somewhere that went MACD positive or something.000 stocks. I get a lot of mail asking me which stocks to buy. instead of living in the past. to focus on the next step ahead. that you will have positions worth 0. In life you don’t often stand at crossroads – in the markets. during a lull in the markets. And more importantly. but honestly. there is no reason to take a trade. Like a friend says: I have a position.

000 worth of a stock. Now you eagerly await even a small sign of weakness so you can short the dirty fellow again. The bank deposit grows at less than inflation. and unless you are in deep doo-doo you won’t sell it for money (you’ll sell to buy another house. but in an emotionally distressed state (“Revenge!”) it is important to first find the easiest way to calm down. profits will come. Look even at generic asset allocation. and even gave you a loss as your stop was hit. usually a bigger one so you have no cash left). A friend told me he would trade 1000 shares of a stock at a time. it’s only a place to stay. or buy into stocks because they look good. The only real investment you have is in equities. You bought a stock. a house is the biggest investment. Then it reversed and went up. thinking: Damn. My strategy to deal with this is to go back to the plan. If you change the perspective that bank deposits and a house are not investments. and trading. tomorrow is a different day. We put in such amounts because we receive a tip from a friend. I have made that mistake many times. If you have a portfolio of Rs. You might have gone short one day. It’s an ego battle to desire the upside (the stock went up 50%!) but to have a very small downside at the same time. and the losses will hurt emotionally (not so much financially). Now you want to do the karate chop and fight back again. You bought it again. and that’s already a disproportionately small amount. but he couldn’t get himself to trade lesser than that amount. and you buy Rs. bank deposits come second and equities a distant third. Revenge trading can be absolutely horrible for your pocket. and each time I die a little.in) which focuses on in-depth analysis on markets. There are times to question the plan. and the market opened down. But the house is not an investment. He lives in Bangalore and tweets as @deepakshenoy . his capital had dwindled. To most people under the age of 50.You. but had gone through a rough patch. you are wasting the money – the returns do nothing for you. The point is that if you put in meaningless amounts into a stock. It turned back and hit your stop. Another emotional nuance is the embracing of size. buying 1000 shares was too much exposure. Deepak Shenoy is the founder of Capital Mind(http://capitalmind. the results will be meaningless. Now. it hits your stop loss. The profit was great but as the day progressed you saw the markets turn around and eat all your paper profits away. Revenge is for the Movies Jackie Chan often inspires the early trader. 10 lakhs. This is how they list their investments. macroeconomic. . I say to myself that if I follow the plan. The next trade is a different trade. but with so little money in that a loss won’t look too bad. Now I’ll have to pay for his coffee also. to give us the satisfaction that we got in. 10. allocation metrics will change.

Trading options without an understanding of the Greeks .investopedia.is synonymous to flying a plane without the ability to read instruments. Options trading in India was restricted to those following the Options Greeks. It is still a highly debated topic and many are not yet ready to believe that such trades are possible. The easiest way of trading options based on charts is by following the basics of Technical Analysis (higher tops. since the past few years. Theta.) Most strategies that are used to trade based on cash or futures charts can be used for Options too (e. Investopedia goes further and says . You can find it here http://www. which includes various parameters such as Delta. Over the past few years. Vega. If one has the additional quality of identifying chart patterns it is very helpful in getting good trades in Options. and if done correctly.g.com/university/option-greeks/ However. traders in India are now able to get continuous charts of individual Options for all stocks and indices that are traded in Options. I have made quite a few observations as regards interpreting these Options charts.) OCTOBER 2013 ATMASPHERE | 13 . This is how a typical Options chart looks like (an hourly chart of Nifty 5800 Sep CE). There were (still are) Options calculators to find out the scientific value of Options.OPTION TRADING USING CHARTS BY ABHIJIT PHATAK Until a few years back. Gamma. Moving average crossovers etc. higher bottoms etc. Trend lines. one can get good trades with a very low risk set-up (which is what every trader looks for).the essential risk measures and profit/loss guideposts in options strategies .

and that can be the full risk for the trade.5. it makes sense to buy a CE here. 60. to be hedged ahead of an important event. 2500 per lot. Rather than using a margin of Rs. a day before the credit policy was announced. .I have tried to present how one can use Options charts to identify good trades. in which one requires only Rs. It is very essential that a trade in futures needs At around the same time. Following is an example of how Tata Steel could have been traded in Options based on a Trend line breakout in the cash / futures as well as Options charts): The August futures contract gave a breakout from a trend line above 207. Just to give an example – if one was long in Nifty futures on 19th September.5. Another very commonly used strategy in Options is for hedging. and if the trade is to be reversed only on a trigger as per the trading system.000-70.000 required for a futures contact. the 230 CE gave a breakout from a trend line above 2. the longs would have been carried till the morning of 20th September.

can be used to get very good trades. The 6100 CE expired at 0. ATMASPHERE | 15 . One would have lost just Rs. just before the policy was due to be announced.25 am after which it was showing Nifty 6100 Sept CE: OCTOBER 2013 The data for Open interest in various Options can also be studied on charts. thus giving full profit of that Rs 100 premium which was used to go short. one could have gone short in the CE anywhere between 95 and 105.Nifty futures (September): Studying Open interest in Options: Based on the chart of the 6100 Sep CE given below. Following example highlights how the trend in the Open interest could have been used to get a good trade in August: signs of a recovery. and if interpreted well.25 on 28th August at around 10. Nifty was in a downtrend till a day before the August expiry and made a low of 5108. 20 in the CE short. The stop loss for this hedge could have been the previous day high which was near 125. but this helps in holding the long in futures till the impact of the policy on the market is clear.

10 (a risk of just Rs. it was quite apparent that the Open interest in these options started dropping soon after. or 5300 CE from 10 to 109. which also gave an indication that Nifty is likely to recover the losses. . One can imagine the profits in the CEs – 5200 from 30 to 209. A drop in Open interest here means that those who had gone short in these CEs. and the expiry was at 5409. 1500 per lot) and the 5300 CE for Rs. Nifty Aug 5200 CE: If one was observing the Open Interest in the 5200 Aug and 5300 Aug Calls. 500 per lot).The Open interest in these kept falling all the way till expiry the next day. The 5200 CE was available for less than Rs 30 (a risk of just Rs. were now covering them.

interesting strategies to trade options with ‘low risk setups’. This straddle gave a sell signal at around 350 on 5th September and expired on 26th September near 16. Following is an example of a September 5900 straddle plotted with a Moving average crossover to identify trades to go short.The chart is for the combined premium of the 5900 CE and the 5900 PE. He has been studying Options charts for the last 7-8 years and have come up with some Another good strategy to use Options charts is to get good Straddle shorts.com or you can follow him @ ap_pune. He can be reached on ap1963@gmail. OCTOBER 2013 ATMASPHERE | 17 . There are many more such trade setups that a trader can employ and use Options charts for good gains. Abhijit Phatak is a Chemical Engineer based in Pune. Nifty Aug 5300 CE: The above was an attempt to highlight the different ways of identifying trades in Options based on extremely low risk set-ups.

now and as many problems or errors or deficiencies are found must be noted and written to webmaster@atma-india. A powerful JOBS-BOARD exists where not only our members can build their fully visible CVs they can also build additional CVs with anonymous values in key fields such as name of current employer etc. skills and attitudes to succeed at the career each has chosen! Those amongst the ATMA membership who have a vision. . the Association of Technical Market Analysts? To be excellent. but have the tenacity to stretch your thinking into proposing a solution. Google Plus? Why can’t we bring in some Partner of a global recruitment firm to teach our younger ATMA members how to write good CVs and cover letters and how to network to be on the frontline for discovering the best jobs? Go take a look at the Career Development Centre on the website of our parent organization the http://www. what stops you mightier younger. Difference between criticism and leadership is that leaders identify what is missing and figure out how to fix it! Own ATMA now! Some few of us at the fight are getting bored of being its solitary owners. LinkedIn. INDEPENDENT & FUNCTIONAL Career Development Committee Why can’t we host some webinars inviting Social Media Gurus who can teach ATMA members how to promote themselves in a dignified way on Twitter.net. If I can stretch my brain and body so far. to be trusted. energetic smarter folks to beat me blue and black? Right at the inception this vision was incorporated into the design of our website. to be empowered with an all encompassing feeling of being organized together as a big team? Yes.mta. to be renowned for our pedigree embellished with great knowledge and ethical conduct. perhaps all of this is true! Yet. please polish your shoes and step forward your best foot! I have to build on an EMERGENCY basis a POWERFUL. who have had their brush with changing several jobs and who would know how the inner world of HRM might be working. a strategic string of thoughts in place. All of us must TORTURE TEST this tool. to be reliable. independent minded mad men and women who have a solitary goal: beat Sushil Kedia & his early team & create an admirable Career Development Centre which is at least at par with the MTA and perhaps way more!! Get going ATMA! Long way to go and yes the world must yield the place to us the Technical Analysts that we deserve! Does ATMA belong to you? If not. who does it belong to?! Then within the Job-board is a feature for incorporating the profiles of your companies with a nice write up and logo you can make yourself a featured employer on this powerful tool that this mad 43 year old man could envision even at inception when he had no ideas of how a website is built. all of this is aimed at one key goal and all of these goals will be fulfilled ONLY if each and every ATMA’ite is empowered with the abilities. to be sound in our approach at what we do in our profession. Have patience while you critique the deficiencies! Don’t stop at just pointing out what is lacking. the more important point: Most important priority: Career Development of ATMA Members Why are we after all part of this grand exercise called the ATMA. Facebook.org I need a team of strong-willed.Now. etc. Klout.

Rather. All the patterns are clearly depicted on charts with proper explanation. stops and exits are mentioned separately in point-wise manner. Rules of entry. Right from the basics like charts construction to start with. The author may be reached at sumeetsj@gmail. for a Trader”. Trust me this phrase sums it all. You will be overwhelmed by the magic. Channels. look out for patterns and try to trade. Why patterns? Why not indicators? What is the statistics? What is the success ratio or percentage? How do I trade using patterns? Will they suit my time frame? What will be the targets? Where will I place stops? All these questions are answered in the first 20 pages. then into Harmonics. All in all if you are looking for something based purely on price action then this is the book for you.BOOK REVIEW: TRADE CHART PATTERNS LIKE THE PROS Author: Suri Duddella ISBN-10: 1604027215 (ISBN-13: 978-1604027211) This book is clearly “By a Trader. Asit C Mehta Investment Intermediates Ltd. Believers of “Random Walk Hypothesis” say that if you change the Aspect Ratio of the charts these patterns might change and the studies may become erroneous. Mumbai. Institutional Research Desk. They just work beautifully. ATMASPHERE | 19 .. Elliott Waves and then Exotics. And then the book starts. Mr.com. This OCTOBER 2013 small attention to detail changes the overall look and feel. Event based patterns is something that is covered in the end and deserves a separate mention. the right approach would be to plot a chart. A very crisp book which in the first few pages answers most of the questions practioners of Technical Analysis have. This book is a must have in a trader’s library and I most certainly recommend it to the readers. Sumeet Jain CMT is a Senior Manager. All the doubts which should arise after acquiring the knowledge are answered first!! The thirteen chapters sum it all up. dwelling into Fibonacci. Bands.

ATMA will fund an extra monthly meeting on any good educational topic EACH Month for AT LEAST the next 12 months under the Women in Technical Analysis series where the speaker. for various legacy reasons markets have continued to be dominated by men. write to us for membership enquiries on: membership@atma-india.Katie Stockton .Women in Technical Analysis A Necessary Initiative: Are markets a man’s world? Is Technical Analysis a man’s domain? Answer is clearly no. "I am surprised & IMPRESSED that you have critical mass to hold a women-only meeting! It’s a wonderful thing if you can pull it off. Browne. let them know the exceptional work ATMA has been producing and get them to become members so that there are at least a 100 women members of ATMA in the very near future to take your representation to at least 20% and hopefully as numbers grow the spiral effect will someday take you closer to 35% or even more than 50%! Of the 500+ members of ATMA active at this point. professional link building and such other extracurricular activities haven’t been easier for women. "Women in Technical Analysis". Louise Yamada. Educational Monthly Meetings only for women! So here is a special committee to be comprised ONLY of women. but would guess that networking. to bring to the main-stream. way more organized. only 24 are women.net! Soliciting Women Volunteers: While a formal new fully empowered Committee is being built as “Women in Technical Analysis” you are welcome to join all other Committees too! Increasingly a larger and larger percentage of women are excelling at markets and we do know many good Technicians such as Connie Brown.net and for volunteering on volunteer@atma-india. Speak to them. at large. If you can think of a better name that may be turned easily into a good & RESPECTABLE acronym using the first letters of each word. Katie Stockton to just name a few have made their mark on the globe! It’s time for India to discover its own Ms. the delegates and the volunteers will all be women. Ms. ascertain. decipher and then achieve the goals for Women in Technical Analysis. If you can think of a better name that may be turned . "Women in Technical Analysis". FOR the women and BY the Women at the ATMA. A well appointed 80 seater conference hall with all modern business amenities in perhaps one of the most secure & safe buildings of Mumbai – right at a well known Commodity Exchange is being worked out as a permanent venue! This would make Mumbai the only city in the world of Technical Analysis where there would now regularly be TWO monthly meetings. That's an abysmal number. Yet. it would also be a first of its kind anywhere in the world. We've have instituted a separate committee altogether titled. The truth is a far bigger percentage of women are technical analysts than the percentage women members in ATMA! Why? I don’t have any good answer. Yamada & Ms. MTA Oh the Women Technical Analysts of India. Your mandate as a Committee is way larger: To represent. Stockton! The goal clearly is also to include any number of women Technical Analysts you know and who are not yet ATMA members.the women Technical Analysts of India. We've have instituted a separate committee altogether titled. I’d love to speak to the group someday" . so far. please do suggest. since markets as the final masters are the ultimate level playing field. crisper and resourceful than what has been done so far for the general membership. Vice President. Here is a special initiative for You .

Maharashi Karve Road.Maharashtra Speaker . Introduction to Algorithmic Trading (AT) 2.the amount would be Rs. 2013 (from 9. He is also a consultant with Dun and Bradstreet. Directors / Owners of Member Firms of BSE . Lifecycle in Development of AT 4. Mumbai .050 for 2 days.for two days (inclusive taxes) Members . Global Trends in AT 4.000/.Mr. 15. he is the Managing Director and Co-Founder of Samssara Capital Technologies LLP. Jargons used in AT 2.Rs.30 pm) Venue . Bombay. Churchgate. Topics to be Covered on Day 1 1.the amount would be Rs.30 am to 5. The NSE. Business Aspects of AT 3.PVM Gymkhana & Gymnasium.50% Discount .10. He has over 9 years of expertise in the areas of profitable systematic quantitative trading strategy development. Manish is a seasoned speaker in the areas of algo trading and quant trading with investors and traders globally.33% Discount . Bank of America. ATMA and KPOs like SGAnalytics on building models for hedge funds globally. 7.FORTHCOMING EVENTS CERTIFIED ALGORITHMIC TRADER PROGRAM {ATMA – CAT} Date – 7th and 8th December. Mathematical Elements of AT 3. Introduction to Risks in AT Registration Fees: Non-Members . Manish Jalan.400021. Topics to be Covered on Day 2 1. a B Tech and M Tech in Mechanical Engineering from IIT. Where India stands in AT OCTOBER 2013 ATMASPHERE | 21 .500 for 2 days.

High .PAST EVENTS’ UPDATES CHAPTER Indore DATE 14/09/2013 SPEAKER Vivek Gupta TOPIC Rationality to Irrationality CHAPTER Bengaluru DATE 29/09/2013 SPEAKER Vishwanath Gangavati TOPIC Pivot point Trading using Technical Analysis Kolkata 21/09/2013 Kaushik Sen Following Market Trends with the Help of Options Kolkata 19/10/2013 Manish Pareek Integrating Macroeconomic Principles with Technical Analysis Mumbai 28/09/2013 Rajeev Darji Insight on Chart Pattern Analysis Ahmedabad 20/10/2013 Mukul Pal The New Passive Delhi 28/09/2013 Mukul Pal The Active Money Management System New Delhi 26/10/2013 Ajay Aggarwal High leverage. Low Risk .

return and Low Stress OCTOBER 2013 ATMASPHERE | 23 .

II and III.PAST EVENTS’ UPDATES (CONTD…) CHAPTER Mumbai PAST WEBINAR UPDATES DATE 21/09/2013 DATE 26/10/2013 SPEAKER Venkat Thiagarajan TOPIC USD/INR Outlook SPEAKER Vikrant Goyal TOPIC Trading using Japanese Candlesticks Bengaluru 27/10/2013 Dr. Musa R Kaiser Technical Analysis OF Fundamental Analysis of Nifty 28/09/2013 Subhadip Nandy Using Bollinger Bands to Day trade 05/10/2013 13/10/2013 Siddhali Desai Training for CMT Examinations – Levels I. .


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