ATMA Talk 23-May-15

[Surya Reddy]

Hi team,

It was not so exciting session at ATMA, but my take away...

1. Divergences are working for them .. (On Composite Index)

       He can send the code for composite  index on Metastock. You can reach him at  kal...@percentageplays.in

2. They were efficient in capturing BB squeeze

3. Fundamentals drive technicals.

4. As an example : very risk to short Colgate, as 70% with company, 25% with Institutions, and only 5% available for operation to get volume.

5. They have tested 500 profitable systems, but identified only 2 to be better.

Best Regards,

Surya

[Surya Reddy]

Sorry,Guys.

Missed a point here. They trade for  HnS Break outs, and critical for arriving a view is the volume of at the right shoulder.

Rounding bottom also works for them.

Strong recommendation is to read Magee.

The point I want to highlight is, when it is working for them, why not for us ? (If at all we feel its not working :-) )

Best Regards,

Surya

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[Balakrishna Rao]

Surya,

Some more points:

- For highly volatile stocks, if stock goes up with low volatility, then it is the best place to short. Here I think he is referring to the daily volatility of the stock that you can get from the Bhavcopy. He also said that they have a system that plots volatility vs price. 

- Composite index indicator is developed by Constance Brown and is more accurate than RSI. Surya pls get this code from him.

- He said something on the 2B pattern - I think he said its works well both for both top and bottom.

- Some books that he mentioned - Mark Douglas - Trading in the zone;  Alexander Elder - Trading for living; Van Thorpe - Trading your way into financial freedom; ... if any of you have read any of these books, pls let us know your feedback.

Balki