Know everyone are fantasied with today’s date but for me today stand as a milestone. Yes, I completed 2 year out in stock market. One thing that I always ask: what I learnt in this year, is there something new? How it might help me? Every days is a new day for me, learning something new different from others.
For many people Technical Analysis might be a piece of cake, they might have learnt by a relative, friend, college or any training program. But, a college guy who specialize himself in marketing. Take a weird step on 12th dec 2010 saying “I will enter Stock Market”. It might be a easy thing for many people whose parents, relative, friends are into this market and they just need to approaches their respective people. I was one guy who didn’t have any such source but had a determination for learning it. Trust me friends, determination is the only thing that is needed in life. I am not a motivational speaker but it is a myth of life.
How I actually learnt Technical Analysis?
Whenever people find me, they ask me one frequent question. Where you learnt Technical Analysis? You worked in any company? And such question. Today, I will let you my secret. How I learnt Technical Analysis?
It was on 8th dec I actually decided to enter market. On 12th dec I sent a request to join a group owned by a lady called Darpana Sharma. The group found to be resourceful. I found some potential guys who worth following. Then I sent them a friend request, added them and for 6 months or so. I just observed them. The way they place there stop-loss, the way they take their decisions, entry point, strategies and levels. I am a student of psychology (Cognitive Psychology), and it was a easy task for me to decode there thought process using reverse engineering. I classified my people into categories
AmitMalhotra-A perfect Strategist
Abhivandan Nagia- A Superhuman
Team Eaibs -Godfather of magical supports and resistance
Dilp Jain- Trading with NEWS
And there are number of people along with these people, I can’t name them all. But do have a great respect to call them my Dronacharya. These people were Brokers, Analysts, traders etc.
Simultaneously I started reading books suggested by CMT(MTA) for their examinations. I felt really easy to read them, I used to read them and look for pattern formation out in market. Till September 2011 I quietly decoded these people. Then to practical’s I started applying what I learnt. I personally felt some difficulty applying what I learnt.
A Journey With ATMA
I was a great fan of MTA. I always used to dig MTA website, then I found Association of Technical Market Analyst which is a Indian chapter of MTA. I was in a huge dilemma to join into ATMA or carry my current psyco- reengineering process. I took an initiative to get into ATMA. I majorly used to explore MTA’s knowledge base during my initial days. But today association have its own library with number of books, website, and podcast for members. As I have told you I was having problem applying what I read. Because applying knowledge is different than what we actually read out in books.
One turning point came when ATMA started to conduct Regional meetings it was a golden opportunity for me to be there every time. The reason why because I was been surrounded with the people who can’t follow what I am speaking, whenever I used to take words like Head & shoulders, Triangles, indicators and all people saw me as if a I am alien. The people who surrounded me were from marketing, they knew brand management, advertising, sales etc. ATMA was the only option. People out in ATMA are really cooperative with open heart for everyone; few are at peak active all the time.
My personal words
My personal words
- You make profit/ loss, keep an account.
- Always have control on your emotions, never give a chance for your emotions
- Keep your ego at bay
- Love what you do, stock market is not mandatory for all
- Marks and degrees are bullshit. Experience and knowledge are the key factors
- Don’t hurry making money. 1st Back-test, at least work on knowledge aspect remember Abraham"If I had six hours to chop down a tree, I'd spend the first four hours sharpening the axe".
- Determination and confidence are 2 phase of same coin.