march 2013 - Association of Technical Market …observations of Gann studies and is a simple way to...

2 | ATMASPHERE OCTOBER 2012

CONTENTS

• Letter from the President ‐ Page 3

• Editor’s Note ‐ Page 4

• Using Point and Figure Charts to Improve Your Existing Trading Approach III – Using Murrey Math Lines by Abnash Singh ‐ Page 5

• Point and Figure Traps: Clear rules for defining trapped bulls & bears by Prashant Shah‐ Page 9

• Book Review ‐ ADXcellence By Sumeet Jain‐ Page 16

• Forthcoming Events ‐ Page 18

• Past Events’ Update ‐ Page 19

• ATMA Webinar Series ‐ 3

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.

NOVEMBER 2012 ATMASPHERE | 3

LETTER FROM THE PRESIDENT

Dear Colleagues,

Yet another financial year comes to a close and there is much accomplished with clear prospects for yet an even better year ahead for

us. To reflect briefly: your ATMA hosted two large mega‐events featuring global speakers at the BSE International Convention Hall with

an illustrious partner, the BSE Brokers’ Forum, we shifted to a much bigger and nicer office for our Executive Team, right next to the

BSE Trading Hall, we created the world’s first E‐Library on the subject of Technical Analysis, we established not only a pan India reach for our monthly chapter

meetings, but also formalized the expansion of our partnership with the MTA, Inc. to now include Nepal, Bangladesh and Sri Lanka within our span of work.

We have gone onto creating a powerful delivery mechanism for high quality webinars which can accommodate up to a 1000 participants. Needless to

emphasize, that this high quality monthly publication coming by each month, is a winning feather in our cap, as well.

With endless growth, reach and activity materializing ATMA like any other progressive organization is ever ready to absorb good minds and good hearts. We

are keen to expand our Board of Trustees, expand our volunteer committees, and recruit more people to enhance our Executive Teams. Please do step

forward with any recommendations or nominations that you believe will bring value to ATMA.

A professional is one who can be relied upon for regular work. ATMASphere by this yardstick has come to become a professional piece of work. A great

initiative is one that is owned widely by its beneficiaries. It is time now that ATMASphere finds a larger participation and thus ownership. To enhance the

quality of contributions and the quantity of contributions for even better reading materials, I am asking the Editor to initiate appropriate monthly awards for

the best contributions.

Sincerely,

Sushil Kedia

4 | ATMASPHERE NOVEMBER 2012

EDITOR’S NOTE

In this issue ‐

Abnash Singh introduces us to Murrey Math Lines and explains their usage on Point & Figure Charts.

Prashant Shah explains trap patterns in Point & Figure Charts with illustrations.

Sumeet Jain reviews ‘ADXcellence’ by Charles B Schaap.

Please let us know what you are doing and allow us to share your application of the tools of technical analysis to the readers of ATMASphere by sending an email to editor@atma‐india.net. You can subscribe to ATMASphere completely free by clicking here.

Sincerely,

Meghana V Malkan


USING POINT AND FIGURE CHARTS TO IMPROVE YOUR EXISTING TRADING APPROACH – III – USING MURRAY MATH LINES

BY MR. ABNASH SINGH

Murrey math lines (MML) is a relatively new trading indicator showing

supports and resistances, and helps in finding trends and trend changes. The

indicator was developed by T. Henning Murrey and has some similarity to

Fibonacci retracement and pivot points. MML was created based on the

observations of Gann studies and is a simple way to implement Gann.

Murrey math lines comprise 9 equidistant lines which run parallel to one

another. MM lines from the bottom are at the levels 0/8, 1/8, 2/8, 3/8, 4/8,

5/8, 6/8, 7/8 and 8/8. 0/8 is the oversold line and 8/8 the overbought line;

these are the hardest lines to cross and around 75% of the time, the crossing

triggers price reversal. The range between 3/8 and 5/8 is the normal trading

range and price tends to consolidate at these levels before falling (3/8 line)

or rising (5/8) beyond this trading range.

Like Fibonacci retracements, when the price is between two lines, the upper

line is considered as resistance and lower line is considered as support. When

the price rises above 5/8 and touches 6/8, it has a tendency to reverse to

retest the 5/8 level before heading high. The same is also applicable to

downtrends; the price tends to reverse to retest the 3/8 level before heading

down.

Caution: Murrey Math lines are a set of support and resistance lines and like

any such line are NOT predictive. Which means that when you trade with

these lines, there is a risk inherent in the trade, which is mitigated by the

"likelihood" of price moving in the direction suggested by Murrey. Hence,

any trading strategy based on Murrey Math lines or MML must have a strong

risk management or stop loss overlay to avoid losing capital


Plotting the lines: Please check the Amibroker formula’s given in the link

http://www.tradewithme.me/trading‐systems‐iv‐‐murray‐maths.html.

Detailed explanation of the Octave theory and logic is beyond the scope of

this article. The chart in Figure 1 is courtesy Big Mikes Trading Blog.

Trading Murray Math (MM) lines:

Simple rules to trade MM lines are as follows:

‐ Always look for a test of a MM level and a retracement before

entering a trade.

‐ Bounces from 0/8 and 8/8 with a follow through passing 1/8 and 7/8

lines are high probability success trades.

‐ Price bouncing from the mid line 4/8 and rising above or falling

through are alternative trades. As this is usually the market price mid

range, ranging periods can lead to many unproductive trades.

‐ Downside breakout that falls below 0/8 and crosses the breakout line

‐2/8 or crosses 8/8 and the upside breakout level +2/8 are additional

trading points.

Point and Figure application:

For the purpose of trading, the 0,1,4,7,8 /8 and +2/8 and ‐2/8 levels are the

appropriate lines to plot.

The inherent noise cancellation and the inbuilt retracement based breakout

logic of point and figure method enables MM lines trading to be done

conveniently. See the charts in figures 2 and 3.

Figure 2 shows a conventional bar chart for Nifty Futures, where 2 trades are

either missed or are faulty. By their very nature that Point and Figure buy

and sell signals are generated as double tops or double bottoms that include

a retracement before the buy or sell signal is generated, the signals

generated comply with the MM lines trading logic very well, which is helped

with the noise cancellation feature of PnF.

See Figure 3 for trades as seen on Point and Figure charts. Notice how the

signals are generated without any ambiguity.


Abnash is a seasoned industry professional with over 30

years of experience in the IT industry working in various

leadership roles in reputed organizations. He has a

background of both IIM and IIT and after completing his

last work stint, grew his interest in trading to a full‐

fledged business with his online presence

through www.TradeWithMe.Me. His focus is on trading and educating

others in the stock markets.


The Dream... has come True! Almost!

World's FIRST E‐Library of Technical Analysis

अ न दान ंमहा दान ं; व ा दान ंमह ारम | अ नेना णक ऽु थह , यावा जीवं हू व या ||

Giving food to a hungry person is indeed a great donation, but the greatest donation of all is to give a person education. Food gives but a momentary satisfaction whereas education empowers the person for his entire life.

Each ATMA Member is at this point going to be able to give as much to each other as each is going to be receiving in course.

The Dream, that is how I have always called it for myself, the establishment of an E‐Library that contains not just research papers and manuscripts but commercially published good books on subject areas related to us, is now within reach. Almost there..! Yes! Books on Technical Analysis, Trading Strategies, Quantitative Finance, Back‐testing, Algorithmic Trading, Investment Psychology, Hedge Funds, Behavioral Finance & lots more!

Even before succeeding at launching ATMA, I have aspired with my blood, flesh and soul to be able to bring up this concept. In fact, right at the day of our launch we inaugurated an E‐library that contains many decades of research papers and journals! But the commercially published books could not be integrated so far and a true professional self‐service e‐library has had to wait. With painstaking work some of us scrounged and searched endless websites, made endless calls liaisioning and networking with some of the best publishers across the globe trying impressing upon them India is a safe country and we are as ethical as any other professional enterprise in any other corner of the world to be allowed to host a digital library of books

Endless evaluations of legal structures, payment formalities, technologies and this sweat and toil of nearly 20 months is now fructifying! The world's most reputed, largest and oldest vendor of E‐libraries has considered positively all our pitching and discussing and despite the fact that we may be there smallest customer today agreed to mail over a contract to us!

This vendor has digitized the top 10000 libraries around the world! And yes, your very ATMA is going to be now served by this very vendor! Not only are we going to buy and stock up E‐books and audio books we will be in time able to generate funds to have training videos in this online library.

The work ahead, for all of us..

Make out a list of the top 20 books you wish to see on this library and if you wish to make the list of top 20 books you have read as a Technical Analyst, trader or a markets person make that too! Make a list of top authors if full names of books don’t come to mind immediately. Make your wish lists! Mail them to librarywishes@atma‐india.net & they will automatically be forwarded to all volunteers working with me and Gunjan Dua on this DREAM PROJECT.

Write out your lists Email to TEAM Let team compile Team draws map Evolutionary Goal

Charity begins at home and do the

व ा दानं now! Let your opinion, ideas, desires be known.

The Challenges ahead..!To build a highly useful collection of e‐books that make our money work well for us in this massive ongoing investment, we have to carefully select every good book available and yet also avoid frivolous or very esoteric purchases. Building a great library is an evolutionary goal. Come participate in this path‐breaking initiative that will change the orbit of our Association, forever. Well, there may not be enough money, enough books, enough types of books, enough of this or enough of that, yet what you will along with patience over time to live through when there will be enough of everything, have one thing now which will never come again: be the architects of the world's first e‐library on Technical Analysis.


P&F TRAPS: CLEAR RULES FOR DEFINING TRAPPED BULLS & BEARS

BY MR. PRASHANT SHAH

I wrote on Nifty and Point and Figure Catapult pattern in November month newsletter and explained that one can find them more affordable and tradable in high low P&F charts than close only charts due to horizontal nature of the pattern.

I am discussing P&F Trap pattern in this edition. We often use the words Bull traps and Bear traps in conventional charting patterns. We usually mean pattern failures or false breakouts when we say that.

Pattern Explanation:

Point and Figure Traps are 4 column patterns that are very clear and simple to understand. Example of Bull trap and Bear trap P&F pattern are shown in Figure 1 and 2 respectively. In simple words, Bull Trap is a pattern where Double Bottom sell signal is generated immediately after Double Top buy. And Bear Trap is a pattern where Double Top buy signal is generated immediately after Double Bottom sell.

Figure 1: Bull Trap Figure 2: Bear Trap

For those who are new to P&F charting, Double Top buy signal is generated when current column of ‘X’ rises above the top of previous column of ‘X’. And Double Bottom sell signal is generated when current column of ‘O’ breaks below the previous down column of ‘O’.

Bull Trap is a bearish reversal pattern and Bear Trap is a bullish reversal pattern. Immediate reversal signal is important and hence it is a 4 column pattern. 6 column patterns are variation of Trap pattern and should be treated quiet differently.

Examples of Pattern occurrence:

Figure 3 shows example of Bear Traps in 1% box value chart of Nifty closing prices along with subjective trend lines. Bull Traps are shown in Figure 4 of same chart of Nifty. Observe the trading opportunities and piece of information it can provide in subjective analysis. Subjective lines are drawn to observe the patterns in up trending and down trending prices.


Figure 3: Bear Traps shown in 1% x 3 Box Nifty Point and Figure Chart

Figure 4: Bull Traps shown in 1% x 3 Box Nifty Point and Figure Chart

It is difficult to define Traps such clearly in any other charting method. P&F Trap pattern provide information immediately that traders have got stuck in recent breakout.

Logic of formation – Comparison with Candlestick charts:

It is important to understand the formation in other charts when Trap pattern has occurred in P&F chart. The width of the bar or candlestick pattern depends on chosen box value in P&F chart.

Have a look at Figure 4. P&F and Candlestick charts are plotted for the same time period. P&F chart of Nifty is of 0.25% box value. There are 2 bear trap patterns that have occurred during October – November 2012. Observe the candlestick chart of same period. Situation of Trap can also be seen in candlestick chart but easy to observe in P&F chart.

It is also interesting to know that Bear traps in uptrend form mini bottoms and so vertical counts can be taken from such pattern breakouts. That can help traders for price direction and target.

P&F chart plotted in Figure 5 is High Low chart of box value 10. Two Bull Traps have occurred in Jan – Feb 2013 in P&F chart. Observe width of the pattern in candlestick chart compared to Figure 4 due to lower box value in P&F chart. Knowledge of Traps in P&F while trading even short term candlestick patterns can help. These chart comparisons can help one in understanding the logic of formation of Traps in P&F charts.

I have seen Trap patterns in very low box sizes of P&F charts when shooting star or engulfing pattern have appeared in candlestick chart. Sometime price patterns that are not easily found in bar or candle charts can easily been observed in P&F objective formations.


Figure 5: Nifty Daily candlestick chart and 0.25% x 3 Point and Figure Chart

Figure 6: Nifty Daily candlestick chart and 10 x 3 High Low Point and Figure Chart

Trading Traps:

Trap alone can also be traded but it is important to check magnitude of the pattern to check affordability. Figure 7 shows Wide and narrow trap formations.

Trap Stop loss will not be affordable if pattern breakout column is relatively longer. There is no point in taking a trade if exit is practically not affordable. Pattern A shown in the Figure 7 is a Bull Trap pattern with relatively longer columns at breakout. If stop loss is kept when pattern is negated than practically this is not the affordable opportunity. These are wide traps. Pattern B is a relatively narrow and easily tradable.


Figure 7: Nifty 0.25% x 3 P&F Chart

I believe affordability is very important factor in trading. Pre‐defined or well defined entry and exit scenario is very important aspect of trading in any time frames. Talking about targets and direction is about business of gossips and different from trading.

Blue resistance line shown in Figure 7 is 45 degree trend line. Bull Trap occurring at resistance is important information and adding to affordability aspect of trading.

Importance of Filters:

Traps can be filtered with other tools in Point and Figure charts such as Moving averages, Envelopes, Bollinger bands etc. One important feature of P&F is 45 degree trendlines due to its fixed aspect ratio.

Figure 8 shows Bull Traps in 45 degree down trend and Bear Traps in 45 degree up trends of 0.25% box value of Nifty. I have shown vertical counts from breakout columns. As mentioned before, Bull Traps in Downtrend and Bear Traps in uptrend can give us the opportunity to count because they also form mini tops and bottoms respectively.

Figure 9 shows Bear traps in down trend and Bull traps in uptrend in the same chart. It will help to observe that trading Traps against the trend is not advisable. Plot different box value P&F charts and try this. I can assure that observation will be very interesting.

Figure 8: Nifty 0.25% x 3 Point and Figure Chart


Figure 9: Nifty 0.25% x 3 Point and Figure Chart

Traps are reversal patterns. Bear traps in up trending markets and Bull traps in down trending markets can be traded as pull back system. A Bull trap in extended trend is a sign of some toppish formation in prices and breach of recent 45 degree internal line after the same is a worrying sign for bulls.

Traps on ‘close only’ charts should be preferred for trading. Series of horizontal columns and intraday volatility can generate frequent Traps in High low charts. Traps on closing basis are more important.

P&F analysis can complement any kind of analysis and must prove important weapon in a trader’s arsenal. All the P&F charts I have used here are daily 3 box reversal P&F charts. Next time will write on some interesting formations of 1 box P&F charts.

Prashant Shah is a Chartered Market Technician (CMT)

and Certified Financial Technician (CFTe) recognized by

MTA and IFTA respectively. He is having more than 8

years of Capital Market experience and currently

working as Associate Vice President with IIFL in Pune. You can reach him at

[email protected].


ATMA Social Awards

Winning is so important, for all us, every day. Yet a winning attitude is ever more important throughout our lives. How about a win‐win. You win, your fraternity wins and everyone can win? Well that’s exactly what is happening with the ATMA Social Rewards...

ATMA Social Rewards

This simple idea is in full swing now. You will notice the Activities in ATMA Social Rewards information box on the www.atma‐india.net on almost every page and yes on the home page itself too. Just click on the button in there and start winning. Simple as that. A Reward is the award and the best thing is you can choose which one....

Competition is good…

More so when one is competing in a win win enterprise such as the ATMA Social Rewards.

You can notice the points earned by you and others in the Leaderboard. You can earn points every day.

Growing Catalogue...

Redeeming of points as per the catalogue to claim valuable gifts and prizes is simple. Try it, today.

Wide variety of useful materials to win, any day, any time...

So many good things to win. Ramki Ramkrishnan, an ATMA trustee has kindly

added five copies of his best‐seller E‐book, the Five Waves to Financial

Freedom recently for all to win. Kora Reddy has promised to the catalogue

five copies of personalized in your name, autographed copies of his book on

Quantitative Trading too. More and more is coming. Polish your social media

skills and do visit the website of an organization you own, daily. Win‐Win....

yes you can win.

The MyATMA private network on our website is in full swing too. Have you

been not posting things on the groups you have joined there, have you not

been sharing videos or other content on your Facebook type walls, have you

not been inviting friends and using the Personal Messaging feature there....

oh I see, you don’t see how the points on MyATMA can be encashed....

hmmm... that is going to be coming too soon. Keep polishing your social

networking skills on MyATMA and keep accumulating those points, they will

be usable as a very very private and special MyATMA Rewards also start,

which only our members can participate in. Oh yes, the karma points on the

Discussion Forum too will be encashable in some grand scheme. ATMA is a

winning idea and a win‐win with each of its owner the larger design of things

in the pipeline.


Most important priority: Career Development of ATMA Members

Why are we after all part of this grand exercise called the ATMA, the Association of Technical Market Analysts?

To be excellent, to be renowned for our pedigree embellished with great knowledge and ethical conduct, to be sound in our approach at what we do in our profession, to be trusted, to be reliable, to be empowered with an all encompassing feeling of being organized together as a big team?

Yes, perhaps all of this is true! Yet, 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, skills and attitudes to succeed at the career each has chosen!

Right at the inception this vision was incorporated into the design of our website. 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. etc. All of us must TORTURE TEST this tool, now and as many problems or errors or deficiencies are found must be noted and written to webmaster@atma‐india.net. Have patience while you critique the deficiencies! Don’t stop at just pointing out what is lacking, but have the tenacity to stretch your thinking into proposing a solution. 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.

Now, the more important point:

Those amongst the ATMA membership who have a vision, a strategic string of thoughts in place, who have had their brush with changing several jobs and who would know how the inner world of HRM might be working, please polish your shoes and step forward your best foot!

I have to build on an EMERGENCY basis a POWERFUL, 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, Facebook, LinkedIn, Klout, 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.mta.org

I need a team of strong‐willed, 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. If I can stretch my brain and body so far, what stops you mightier younger, energetic smarter folks to beat me blue and black?


BOOK REVIEW – ADXcellence REVIEWED BY SUMEET JAIN

Author: Charles B Schaap

ISBN‐10: 0977713210

About the Author: Charles B. Schaap, Jr., D.O. is a northern California native

and grew up in the beautiful Russian River valley. The son of two, small‐town

physicians, he practiced medicine for 15 years before transitioning to the life

of a full‐time trader of equities and futures. He is the author of ADXcellence‐‐

Power Trend Strategies (2006) and Invest with Success‐‐Big Profits for Small

Investors (2008). Dr. Schaap has written numerous articles for trading and

investment publications, broadcasted many educational webinars, and is a

sought after speaker at international conferences on trading.

ADX was developed by J. Welles Wilder and first discussed in his 1978 book

“New concepts in Technical trading systems. So here is a book entirely on

ADX. Many basic concepts on DMI and ADX can be easily found on the

internet today. Almost all of the charting softwares available today plot ADX.

Many trend followers also use ADX as a primary tool.

The big difference is this book offers is the understanding about ADX. Right

from stock selection to its usage in trading systems and spotting attractive

trading opportunities, proper entries and exits. All using the ADX, yes, this

book covers it all. There are many books available in the market that try to

explain overall picture and do not get into the details. That is not the case

here. You will find everything that exists about the ADX indicator here. There

are a lot of graphs in the book and while going through you would never miss

that. Nice pictorial presentations about crossovers have been put.

ADXcellence explains you everything about the indicator. What is not

covered in this book then? Well if you are looking for money management

concepts and details on position sizing, they are not covered here. Some

important concepts like expectancy of trading strategies mentioned in the

book are also missing.

In all the book consists the most succinct and straightforward discussion on

ADX. A must read for trend followers and we recommend that this book must

be read. And for those who are into Trend following systems, it is a must

have in your reading list.

Mr. Sumeet Jain is a Senior Manager, Institutional Research Desk, Asit C Mehta Investment Intermediates Ltd., Mumbai. You can reach him at [email protected]


"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. I’d love to speak to the group someday"

‐ Katie Stockton , Vice President, MTA

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!

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, the delegates and the volunteers will all be women. 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, it would also be a first of its kind anywhere in the world, Educational Monthly Meetings only for women!

Women in Technical Analysis

A Necessary Initiative:

Are markets a man’s world? Is Technical Analysis a man’s domain? Answer is clearly no, since markets as the final masters are the ultimate level playing field. Yet, for various legacy reasons markets have continued to be dominated by men, so far.

Increasingly a larger and larger percentage of women are excelling at markets and we do know many good Technicians such as Connie Brown, Louise Yamada, Katie Stockton to just name a few have made their mark on the globe! It’s time for India to discover its own Ms. Browne, Ms. Yamada & Ms. Stockton!

The goal clearly is also to include any number of women Technical Analysts you know and who are not yet ATMA members, to bring to the main‐stream. Speak to them, 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, only 24 are women. That's an abysmal number. 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, but would guess that networking, professional link building and such other extracurricular activities haven’t been easier for women.

Here is a special initiative for You ‐ the women Technical Analysts of India, way more organized, crisper and resourceful than what has been done so far for the general membership, at large.

We've have instituted a separate committee altogether titled, "Women in Technical Analysis". 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, please do suggest.

So here is a special committee to be comprised ONLY of women, FOR the women and BY the Women at the ATMA. Your mandate as a Committee is way larger: To represent, ascertain, decipher and then achieve the goals for Women in Technical Analysis.

Oh the Women Technical Analysts of India, write to us for membership enquiries on: membership@atma‐india.net and for volunteering on volunteer@atma‐india.net!


8th ATMA PUNE MEETING

Date: 6th April, 2013

Venue: MCCIA Trade Tower, ICC Complex

Assembly Hall, Mumbai

Timing: 1.45 pm to 5.00 pm

Speaker: Mr. Sanjay Narayan Mahajan, ex‐ATMA Pune Chapter Head. An ex‐Cognizant employee and a Chemical Engineer, he is the founder of “Sumo Gains’’, a Research, Advisory and Training company providing training in Technical Analysis. He is currently pursuing his CMT certification.

Points of Study in Brief:

• What is Hybrid Analysis?

• Why, When & for whom the combination of Technical and Fundamental Analysis research could yield optimum results?

FORTHCOMING EVENTS


8th ATMA KOLKATA MEETING

Date: 2nd February, 2013

Attended By‐ 16 participants

Held at – Mangalam Business Centre

Topic of study – Volume, Open Interest & Volatility

Presented by – Mr. Vivek Joshi, Technical Research Analyst by profession with an experience of around eight years now. A PGDBM from IMT Ghaziabad and a science graduate, he writes his own blog http://madaboutstocks.blogspot.com.

Focus of the Meeting:

� Importance of the volume, open interest & volatility indicators

� How to analyze volume, open interest & volatility

� How does volume, open interest & volatility help in better analysis of Markets.

28th ATMA MUMBAI MEETING

PAST EVENTS’ UPDATES

Date – 16th February, 2013

Attended By‐ 60 Participants

Held at – Assembly Hall, St. Xavier’s College Topic of Study – Risk management techniques in trading using Average True Range and Vol bands Presented by – Mr. Gnanasekar Thiagarajan, Head ‐ Commtrendz Research, a commodity research and advisory company. He was a market maker in the G7 currencies, quoting prices constantly. A consultant and advisory board member, MCX, he writes a fortnightly column for The Economic Times blog site on Global commodities and Forex markets. He was recently awarded “The Best Market Analyst”, for the Commodity markets by the FM of India.


� A risk management system, which uses the Average True Range and combines it with other statistical models to identify false trending moves.

� A reliable model called Volatility bands to place ideal stop loss points for both intra‐day and positional moves.


11th ATMA BANGLORE MEETING

9th ATMA KOLKATTA MEETING

Date: 17th February, 2013

Attended By: 40 Participants

Held at: Sri Bhagawan Mahaveer Jain College

Topic of study: An Unconventional Approach to Technical

Analysis

Presented by ‐ Mr. Bharat Dugar, CMT and a portfolio manager,

heconsiders technical analysis to be the key input in the stock

selection criteria. Tweaking of existing technical analysis axioms

to make them more effective has been his forte.


• An unconventional & fresh look at basic technical analysis

• Simple Bar Setups

• Chart Patterns

• Indicators

� Relation between fundamental data of USA & India

• Economic Indicator

Date: 9th March 2013

Attended By: 20 Participants Held at: The Palladian Lounge Topic of study: Rise with Elliot Wave and Open Discussion of Trading Set‐Ups

Presented by – Dr. Sanjay Sinha, M.V. Sc (Micro) Gold medalist, PGDFM, MBA (IM). He is a Director with M/S. Narnolia Securities Ltd. & exclusive regional partner of M/S. Motilal Oswal Securities Ltd.

Mr. Sushil Kedia, B.Com. Graduate CWA, PGDBM, M.Sc. (Fin Eng), FRM, CAIA, CMT. A Founder President of the Association of Technical Market Analysts, he serves on the Board of Directors of the Market Technicians Association, Inc. and is first Asian ever to be elected to this position.


� How to analyze the Trend in all time frames

• Use technical tools in combination with fundamental tools to

determine direction of trend


7th ATMA PUNE MEETING

29th ATMA MUMBAI MEETING

Date: 10th March 2013

Attended by ‐ 20 Participants

Held at – B V Rao Hall, Pune

Topic of Study ‐ Combining Fibonacci & Time Cycles with Elliot Wave

Presented by – Vishal Dalvi, B.E, MBA, CMT and a co‐founder at Waves Research & Advisory Pvt. Ltd. An Affiliate member of Chartered Financial Analyst Institute and is a CMT Level II candidate, Vishal worked with Infosys Technologies Ltd. for two years as a software engineer. Currently he is an active trader and manages Fund at Waves Research & Advisory Pvt Ltd using various technical tools


� Housing Price Index (HPI)

� Consumer Confidence Index (CCI)

� Consumer Price Index (CPI)

• Combining it all together

Date: 23rd March 2013

Attendees‐ 43 Participants

Held at – Xavier’s Assembly Hall

Topic of Study: Amplifying Technicals using Econometrics

Presented by – Mr. Shubham Agarwal, Head of Technical Research at Motilal Oswal Securities Ltd. A CMT, and a CFA, He is a regular face of various media channels / newspapers and his methodology of research puts him in a league of his own.


• Why conventional technical patterns and studies are becoming redundant?

• Understanding social behavior using econometric models

• Correlation and z‐score indicator

• How to synergize econometrics and technical analysis for greater objectivity

• New paradigm in inter market analysis


12th ATMA BANGALORE MEETING

Date: 24th March, 2013

Held at: Sri Bhagawan Mahaveer Jain College,

Conference Hall, Bangalore

Topic of Study ‐ Stock picking for Intraday Trades

using Technical Screeners

Presented by ‐ Mr. Anuraag Saboo a Technical Analyst,

at TradersCockpit.com is responsible for driving the Technical

Analysis Software roadmap at TradersCockpit.com. A PGDM from IIM,

Bangalore and Electrical and Electronics Engineering from IIT Chennai,

he has been actively trading Equities and Commodities on Indian

exchanges for over 6 years.


• Fractals and Pivots

• Stochastics and Candlesticks

• Multi‐Time Frame Scanning

• Super Trend Indicator etc.

• Multi‐Time Frame Scanning

20th ATMA DELHI MEETING

Date: 23rd March 2013

Attended By ‐ 65 Participants

Held at: India International Centre (Annex Building) Lecture Hall 2, New Delhi

Topic of Study ‐ Rule based Trading

Presented by ‐ Mr. Bharat Chugh, founder of B. C. Consultants (BCC), a reputed and trusted provider of financial services to its clients. He has built a state of the art infrastructure with world class tools such as Advance GET and Meta stock. He has developed many innovative Products and Investment strategies that have stood the test of time.


• Know what to trade, when to trade & how to trade.

• Investment derivative strategy to maximize return from the India growth story.


ATMA WEBINAR SERIES 1



Topic of study: Relative Strength Index –

New Insights

Presented by ‐ Mr. Vishal Malkan, founder of

‘Malkansview’ an Institute which provides training in Technical

Analysis & Behavioral Finance. A CMT, he is a proprietary trader

across various asset classes. He trains & mentors professional traders

and is a Faculty at BSE Training Institute, D&B Training Solutions, NSE,

etc.

Focus of the Webinar:

� Divergence is a Myth

� Range Shift Behavior

� Reverse Divergence & Price Targets




Topic of study: Ichimoku Kinko Hyo

Presented by ‐ Mr. Anil Padia, Head‐ R&D Dept, Kedia Shares and

Stock Brokers. He is currently training the Treasury Department of

Rosy Blue Ltd. to manage their Forex (hedging & prop. desk)

operations and is empanelled with ICICI Direct to train their clients in

Derivatives and Technical Analysis.


� Ichimoku Kinko Hyo trading system ‐ a multi‐functional trading

system that identifies the Trend at its nascent stage & filters the Non‐

Trending phase out.

� Measuring the strength of the trend & providing

Resistance/Support levels where positions can be initiated or

liquidated.

WEBINAR SERIES





Topic of study: Jiseki Trading & Risk Management

Indices

Presented by ‐ Mr. Mukul Pal, Founder of Orpheus Capitals is a CMT,

MBA Finance. An active trainer and speaker, he has conducted

training programs for Thomson Reuters, Oil and Gas Forum Romania,

Bombay Stock Exchange and Canadian Society of Technical Analysts.


• Jiseki Trading ‐ a statistical approach to short term trading.

• Creating Orpheus Risk Management Indices, developed by Orpheus Capitals.

• The ORMI Index


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