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2011年5月31日 星期二

Technical Analysis And Stock Trading For Indian Markets


I have been following stock markets since 2001, and since then I have been a follower of technical analysis which has the power to tell the future and of stock trends and obviously trend changing indications as well. In india there are three type of normal traders, One who is against technical analysis, second who is least bothered about technical and fundamentals and want trade in stock market on the basis of tips, third is the one who wants to follow/use technical analysis methods to take entry/exit in stock market.

I am always a follower of technical analysis and will always be, since it never fails, yes, it could fail only when your interpretational skills are wrong and I have this in mind that charts are never wrong.

If some trader says you that technical analysis is a complete failure or is useless, then these are those people who have failed to interpret the charts successfully, its just like a difference between an amateur doctor and a professional experienced doctor, you take your lung x-ray to both, the amateur doctor says that you don't have Tuberculosis, and the professional doctor says you do have it, where's the difference? its in the interpretational skills, doctor's wrong diagnosis on wrong interpretation can cause lot of problems!

The same thing is applied in charts = x-rays, I am trying to compare charts with x-rays because just like x-rays are a negative print of your body the same way charts are a print of any stock. You have to learn the interpretational skills in order to understand what is happening in the stock and what is expected to happen in near future, a trend reversal or a trend continuation?

Charts explain everything about the future and short term movements in the stock.

Technical analysis is a vast subject and people(traders,investors,amateurs) are slowly realising this science as a gateway to successful intra-day trading and yes, long term investing, using some technical analysis software and trying to figure out what is expected the next day on the basis of stock filtration technique using some in built parameters in the software.

One such software is Metquotes, which can be downloaded from [http://www.metquotes.com] and is developed by myself in vbasic .net, this software uses my scanning methods and generates reports on the basis of the filtration methods using the End of Day stock quotes which are also downloaded by this software from http://www.nseindia.com

This software does scanning only on EOD(End of day) data, it does'nt provide real time data, now you will ask a question that why is this software based on EOD instead of real time data? the answer is, its not required at all.

Many traders these days are buying real time feeds from vendors on the websites and paying them nearly 3000-5000 monthly only for the real time feeds, which are mostly compatible with METASTOCK PROFESSIONAL, an Equis product, available at http://www.equis.com

What I tell to my clients...is that you don't need real time feeds from these vendors, instead choose a good broker which can provide real time quotes in a trading terminal which can be very economical and you have to pay only one time fee, Rs200 or Rs500, thats it!

The trading terminals have real time quotes and the stock graphs can be seen in those terminals, the prices of stocks change every other second in that terminal.

I have used all trading terminals, the best currently which is available is Angel Anywhere, from angel broking, http://www.angeltrade.com

Their software is pretty good designed for professional technical analysts. You can see at a time 6-10 graphs easily on the terminal, plot all types of indicators on the graphs and you can have bar and candle graphs. I normally use candlesticks for analysis so by default when I login into Angel Anywhere software, all the settings are loaded, which obviously I saved from last login.

My trading method for intra-day is, by scanning EOD data from METQUOTES, i choose the best stocks on the basis of volume and price breakout, then I do analysis of charts of the chosen stocks in METASTOCK PROFESSIONAL, and calculate the resistance and support levels.

The next day I track the same stocks and take buy/short sell positions in those stocks.

This looks pretty easy but requires lot of hard work, the phrase EASY MONEY, doesn't exist in the technical analysis field.

The main system which reduces my technical analysis time is METQUOTES, since it scans the break out stocks, and filters the laggards.

Metquotes is at [http://www.metquotes.com]

That is all for now!








This article is written by Mohit Thapar, technical analyst and trader in stock market who is managing his website bookprofit.com and are his views and any decisions taken by any reader of this article after reading it, in stock market then the reader is solely responsible for his/her actions. Stock market is a very volatile place to invest your hard earned money, and you might incur losses if you don’t follow some rules, or you should hire either a technical analyst or financial analyst to manage your money. If you are interested to post this article on your site, then please don’t delete this disclaimer and give a link back to http://www.bookprofit.com Bookprofit is a registered trade mark. Bookprofit is registered.

Mohit Thapar is a technical analyst and webmaster for http://www.bookprofit.com He also conducts technical analysis training for 3 days on weekends, in New Delhi, India. He gives free technical analysis support to all traders for 1 month after successful completion of a 3 day workshop.

[http://www.metquotes.com] is managed by bookprofit.com


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2011年5月30日 星期一

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2011年5月28日 星期六

Analysis Paralysis - The Enemy of Your Success


You have probably heard of this phrase before. What is it and do you have it?

In my opinion Analysis Paralysis is the biggest enemy of the poor and the major obstacle to actually making money online or off. There are other big obstacles like excuses or lack of education, but these fall far behind Analysis Paralysis. This one "disease" affects a lot of people and most likely you are infected with it, too.

What is Analysis Paralysis?

Analysis Paralysis is the condition of over-thinking a course of action to the point you actually never take action. It's when you try to think of all of the reasons you might fail, and allow those reasons to paralyze you from taking positive action. You actually over-analyze to the point where succeeding is overshadowed by these negative thoughts.

Properly thinking about and preparing for possible pitfalls BEFORE taking action is a good thing. It is always good to think about the costs and the risks of a course of action before you act so as to minimize those costs. As I said, this is a good thing.

However, what most people do, even when they are given detailed, step-by-step instructions, is over-think and over-analyze the goal they are trying to reach and they become overwhelmed by the weight of just thinking about it. After so much thought, they just give up and never take action towards their goal.

What I have discovered in business and in other important matters of life is that some things can't be learned by just thinking about it. A lot of learning comes by actually doing it.

For example, if a young boy wants to become a professional quarterback when he is older, he could study or go to a science class and learn about the physics of velocity, trajectory, lift and gravity in order to throw the perfect football pass. He may even get a high grade on his physics exam. But this way of learning can only take him so far. Somewhere along the line he has to get on that football field and actually throw the ball to learn how to throw the perfect pass.

"There's learning by theory but there is a greater learning by doing."

What Analysis Paralysis does is have that young boy sitting on the sidelines of the football field, watching the other boys playing the game while he sits there and THINKS about the physics of the football rather than actually PLAYING the game.

That's not fun at all!

If you want to make money online, you have to get into the game. You have to take action and sometimes with action there comes failure. But as someone famous said long ago, "failure is a good teacher."

And if you learn (by taking action) you will succeed.

So don't let Analysis Paralysis rob you of your dreams. You can succeed in life. You can reach the goals you set for yourself. You can make the money you want to make if you take action doing the right thing today.








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2011年5月27日 星期五

Coping With Failure


There are many ways in which you can create conditions that are conducive to your achievement, success and happiness in your life. There are countless ways in which you can take charge of your life and shape your choices and your future. Whatever methods you choose, positive affirmations vastly improve the chances of your success and reduce the time you may need to realize your goals. Positive thoughts reinforced by positive affirmations and mixed with strong emotions, faith in yourself and your ability to persist and shape the events in your life will bring you rich rewards enhance your self esteem and pave the way for success and happiness in your life. You become the center of your actions and the source of your success. You pour energy into words that'll transform your life and herald your success. But what happens when you hit rock bottom and fail?

Failure vs. Success: The emotion that this type of thinking is generally a chosen outcome? Nothing bites us more hurtfully than failure. Especially in case of people with low self confidence and a poor self-esteem the pain and fear associated with failure can be quite serious, damaging and debilitating, that is if your think it to be so. Failure prevents many unfortunate victims from being true to their potential and realizing their cherished dreams because it creates and or compounds negativity, skepticism, indecision, anxiety and depression (just to mention a few side issues) Concerned as we are with success and survival of living in a competitive world that looks up to its achievers and winners and looks down on even castigates losers, even people with normal self esteem tend to react to failure with a negative frame of mind and attitude, and with feelings of inadequacy, incompetence and loss of self-esteem.

Know that you can deal with failure: For the ultimate triumph of success, failure can be dealt with in a positive and decisive way. Failure can be managed intelligently and pragmatically just as we can manage our day to day problems as a part of our daily struggle for survival. Failure can be confronted, studied and dealt with, in a rationale and objective manner, before it consumes us with the raw force of its negativity and overwhelms us with its oppressive feelings of helplessness and hopelessness. The best way to deal with failure is to deal with it as if it is a problem that need to be resolved in the path of our goal oriented action after all failure is only a thought, an emotion, which one chooses to Succumb to rather to any other available alternatives.

REMEMBER that it is only quitters, cop-outs that are the failures.

Accept failure as a process: Failure is not the end of our or any actions but a part or product of them. It is a phase with in a phase. A problem within a problem, a nightmare with in a dream that exists because it has a message to deliver and a lesson to teach. With a non-success/achievement, stop think re-organize/plan and re-apply.

Just as pain and suffering are hidden in our lives, failure is inherent in all actions and undertakings. For us to enjoy the fruit of success, we need to suffer the roughness of failure. The best thing about failure is it is temporary, manageable and solvable. As a concept, failure on the way to success is a seemingly less threatening concept to our sense of well being rather than the concept of failure as the sum total of our efforts. It is therefore better to treat failure this way and cope with it adequately.

Anticipate failure: Before you start choose your goal oriented action, anticipate what kind of problems and road blocks that you may expect on the way and prepare yourself adequately to cope with them, if and when they arise. Develop action plans, alternate scenarios and intervention mechanisms to deal with different kind of situations as they may develop from time to time and interfere with your progress. Anticipating failures during different stages of our goal oriented actions and preparing ourselves adequately to deal with them through alternative plans and approaches so as to become wiser, efficient and effective is a sign of mature thinking. This way we minimize our losses, conserve our resources, remain focused on our goals and stay on course. With this approach, failure becomes an integral part of our vision for success.

Develop an intelligent and positive attitude/approach: Imperfect as we are, though endowed with great many skills and vast intelligence, we cannot escape from the perils of the accessioned failure when we embark upon a course of action with which we are not very familiar or comfortable. Wisdom therefore demands an intelligent attitude and calculated approach towards the problem of failure. If we accept failure as an inherent vice in a learning situation or undertaking, consider it as a sign of some imperfection that is in need of a state of perfection, or a sign of inefficiency or ineffectiveness that is craving for an immediate and effective cure, we can use failure as an opportunity to measure our progress, polish our skills and faculties and deal with the problems of our lives effectively and efficiently. If we consider failure as a phase in the process of our improvement and development, we can use it for self-improvement and increased self-awareness.

Accept responsibility for your failure: Faced with failure, feeble minds tend to look outwardly to find the cause of their failure. Rather than accepting the responsibility heroically and finding solutions from within, they indulge in acts of self-deception and blame some person, element or extraneous condition as the cause of their failure. In the face of failure, probably this is one of the worst attitude any one can display to escape criticism. When you find yourself in the middle of a sea a desert, there is no point in blaming the water or the sun or the sand or fate, but accepts responsibility and does everything possible under the sun to stay on course and survive. Even if the actual cause is extraneous, by accepting responsibility one can learn wisely from the situation and prepare oneself for further action. Especially when you are part of a team effort, by accepting responsibility for your actions, you are earning the trust and respect of other team members and their continued support to deal with your failure. By accepting responsibility for your failures, you are confronting failure truthfully and realistically without being defeated by it or oppressed by it.

Act with equanimity of mind: Faced with failure, a wise person acts with commonsense and sense of humility knowing the fact that in this vast universe which is guided by a multitude of visible and invisible forces, diverse interests and mysterious intentions, which all come together in one's head, so all that one person can do is to think and play his or her role with positivity and sincerely. We should therefore think and stay focused on the techniques, details, processes and skills, stabilizing our minds purely on the action to be taken and avoid the anxiety commonly associated with goal oriented actions.

Be persistent: Weak, sceptical minds and negative attitudes are easily disheartened and often experience failure, (but will seldom admit to it) but not a strong mind determined to end failure through corrective and improvised action borne out of analysis and observation and sustained by the will to persevere. When faced with failure, a strong willed person would continue on his chosen path, knowing well that what can defeat them is not failure but his own unforeseen and untested fears and assumed limitations. He knows that he has the freedom and the opportunity to try different options and alternative methods to deal with failure and resolve it. A strong willed person would not give up, would not leave in between, would not abandon the hope of success and would not lose sight of the resources that he has invested in pursuit of success.

Seek help from others: When failure becomes an unavoidable option, people tend to withdraw into themselves and suffer alone. For a while their judgment gets impaired and their consciousness clogged with embarrassment and by the impurities of negative thinking. While this is a normal and immediate response to failure, successful people recover immediately from such situations. They bounce back and look for opportunities to overcome their deficiencies or rectify their mistakes and continue their efforts in the desired direction. They make an objective assessment of the situation, analyze their actions and seek others cooperation, inputs and involvement. It is true that success claims many followers and admirers, while failure many victims, critics and onlookers. Success breeds opportunities for friendship and increased social activity while failure brings in loneliness and desperation. The trick is to stay calm, remain focused and objective, ignore the ridicule and the insults from the critics and gather support and input from the sympathizers and well wishers for a fresh phase of renewed activity and corrective action.

Be creative: Failure is a problem that needs a solution through direct confrontation and use of creative ideas for sustained action. You cannot cope with failure through inaction or withdrawal from the pursuit of your goals. You cannot deal with failure by trying to escape from the feelings of failure and dejection. In the midst of failure it is difficult to concentrate and think objectively. But what is required most at this stage is objective outlook and creative approach. To cope with failure you need to think creatively and find alternative solutions that may help you remedy the situation and achieve success.

Creativity cannot thrive in a mind oppressed by the feelings of guilt, negativity, scepticism, despair and hopelessness. What is required is a relaxed and composed state of mind, ready for adventure and experimentation, focused and determined to tread the path till the objectives are realized. When faced with failure, therefore keep your mind open and allow it to think freely. Be creative and courageous to weight the options and take calculated risks. Become receptive to the free flow of ideas and thoughts. Using your creative faculties, challenge yourself with the will to succeed and the vision to be different and determined.

Think positively: A vast array of forces gather around us as we plunge into the pit of failure. Our own thoughts and attitudes start acting against us and make us feel negative and harsh towards ourselves and failures. Through our actions and expressions, we also turn enemies out of our friends and make things more difficult for us. Usually the mind has the habit of internalizing success and externalizing failure. While this is the usual defensive reaction, the mind also has the tendency to associate negative feelings with failure such as pain, frustration, distrust, loneliness, confusion, uncertainty and despondency. With the help of positive feelings, successful people usually recover from the bout of depression that usually accompanies failure. They motivate themselves to think positively and develop a positive plan of action to recover from failure. By keeping their hopes alive they keep their chances of success alive.

Be systematic: It helps to be organized and systematic, while engaged in a certain course of goal oriented action. Organized action helps you stay focused, conserve your resources and improve your chances of success. When your action leads to failure, if you are organized, the possibility of your recovery is much faster and easier. In an organized environment, you have better chances of analysing your past actions and isolating the causes of your failure. You can draw richly from the wealth of information gained by your previous experience and observation. It will also help you control your activities, measure your performance, and stay on course.

Failure is not an option in a competitive world where you are constantly challenged by people and circumstances to prove your strength and ability show your true worth and stay on top. But when faced with failure you've to consider the many options that are available to you and deal with it effectively, so that your fit loses the power to haunt you and make you feel small and defeated. You cannot set aside your failures, ignore them or wish them away. You need to face them squarely and in time, before they become unmanageable and precipitate crises and serious trouble. As you plan for success, be prepared to cope with failures on the way and learn from them. Or else be prepared for more failures, more problems and more lessons.

Failure is like a storm in the course of a voyage. It is a situation that is in proportion to your state of awareness and preparedness and is usually reflective of your level of your progress and skill levels. It demands timely and skillful action, planned and concerted approach, positive mental attitude, unyielding courage and conviction in the face of destabilizing environment and an organized thinking that can generate valuable ideas to help your ship stay afloat and on course. Therefore, take failure as a learning and remedial opportunity. Face it with courage. Deal with it courageously. Give it your best and make it your strength.








John is a health consultant, trainer and business coach. Using techniques and integral methodologies from his 40 years in the health (Habit and control) and obesity industry. John is able to successfully use those techniques and methodologies to help others achieve success. John's personal achievements have echoed through the management of numerous health studios which has reached to an international audience as well as a domestic level here in Australia. He has written numerous self-help programs which are portrayed by his 40 years experience in the health (Habit and control) and obesity industry.

[http://www.gachievers.com]