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Despite what you hear from the experts, P/E ratios, profit projections and the like do not directly impact market performance. It is investors reactions to those fundamentals that are the overriding influence on prices. Much of the time traders and investors react to the emerging fundamentals in the expected way but many times they do not. That`s where technical analysis can be extremely helpful because it cuts through the hype, distortions and misrepresentations of the talking heads and off the cuff experts by studying the action of the market itself. Prices are determined by psychology and psychology moves in trends. Technical analysis assumes that those trends perpetuate and attempts to identify those reversals at a relatively early stage, riding on that new trend until the weight of the evidence shows or proves that a new trend is underway.
This book explains what that evidence is, and how you can put it all together for more profitable trading and investing. Since the attitude of people to the emerging fundamentals is all important and because human nature is more or less constant it`s possible to apply the principles of technical analysis to any historic period, time frame, market or stock in any country in the world. However, this book has been written specifically for Indian traders and investors and is lavishly illustrated with examples of Indian stocks and indexes. It also contains unique Indian market indicators specifically designed for traders and investors in the sub continent. Intended both as a basic introduction to the subject and for intermediate traders and investors this book begins by describing the basic building blocks and going on to cover the subject from A to Z.
It includes in-depth discussions on:-
1. Trend indicators such as price patterns, moving averages, trendlines, candlesticks etc
2. Oscillators (momentum) described in general terms as well as a discussion of specific indicators
3. Pring`s own indicators the KST and Special K
4. Volume
5. Relative strength
6. Sector rotation and intermarket relationships
7. Unique market breadth indicators specifically designed for the Indian stock market
Since the objectivity is of paramount importance in successful trading and investing the book also includes chapters on contrary opinion and how to master your emotions. Reading this book is certainly no guarantee of financial success. However, the faithful application of its principles in a patient and disciplined way will greatly increase your odds of success.
About the Author
Martin J. Pring entered the financial markets in 1969 and has grown to become a leader in the global investment community. In 1981 he founded Pring Research, and began providing research for financial institutions and individual investors around the world. Since 1984, he has published the Intermarket Review, a monthly market review offering a long-term synopsis of the world`s major financial markets. Martin pioneered the introduction of videos as an educational tool for technical analysis in 1987, and was the first to introduce educational, interactive CD`s in this field.
Over the past 34 years, his research has led to the development of reliable financial and economic indicators for timely and effective forecasting. Martin`s personal Barometers for the Bond, Stock and Commodity markets have identified major turning points since the 1950`s on a timely basis and have outperformed the buy/hold approach by a wide margin.
For many years, Martin`s primary interest has been educating students of technical analysis in the basic and finer points of this art. He enjoys mentoring students of technical analysis from the college level to professionals already in the field, sharing the wealth of knowledge he has gained through his own experience and research. In this regard, he has spoken on technical analysis to the Darden Business School, Golden Gate University, and University of Richmond, VA.
He is also chairman of the Pring Turner Capital Group a conservative money management firm dedicated to allocating assets according to business cycle conditions. isbn-9789350230220
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Pages : 612
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