Hi there I am Wasim from Mumbai

This is my first post. I am currently working as a Business Development Executive in a Forex Consultancy Company. My current profile includes watching the forex market and advising the corporate clients as to when to hedge their exposures so that they can protect their costing and at the same time also make a profit from the market. Also we give trading signals to our retail clients so that they can make profit from the forex market.

Still I am new to the stock market. I have applied for the demat a/c in geojit bnp paribas and waiting for my a/c to be opened. and now I have signup as a member in this community. My goal is not to do intraday but to focus my energy in buying good quality shares when the market is in the correction mode and then selling them when the stock is at its overbought situation and giving indication of reversal. So basically I am focusing on long term scenarios. This is one of the reason for me applying for the Geojit BNP Paribas services because their intraday brokerage is quite high and this will stop my temptation to indulge in intraday {My way of doing Risk Management}.

I would appreciate if people here can help me in getting free charting softwares where I can analyse the Charts in a more accurate way.

Comments and Suggestions are welcome

www.icharts.in - is the best chart software. Just sign up and you may use eod data. It is free for EOD data for stocks and futures and commodities.
all the best
reagards
---anand karuparthi

i think its very sensible you wanting to invest in good quality equity for the log term.

Thank you anand . I will check it out now.

Hmmm Thanks Aryabhatta

BTW when investing in shares. what are the criteria that people usually follow to determine that the share will give good money in the long run.

see according to me you need to combine fundamentals with technicals. Please read the following books for fundamentals:-

1)Little book that beats the market
2)William Oneil's CANSLIM system

for technicals:-

1)John Murphy's book.
2)Martin Pring's book

also i advise you to follow Savant Garde's thread in the equity section.

Thanks Anand. I will take a look at it

Thanks Aryabhatta.

Yes you are right. Even in the forex market. Fundamental and Technical plays a very important role. But the environment in Stock market is very diferent then forex where we have to keep our watch on many stocks to determine what to do.

Are this books available online for downloads?

And I will follow Savant Garde's thread in the equity section. Thank you

Hi Wasim,

Actually i'm full time fx trader, after a number of years i realize now its easier to make money trading fundamentally sound stocks than daytrading fx or indices on my personal a/c. I wish I had as much common sense as you have when i started out. I used to swing trade and long term trade stocks and was doing reasonably well. Then one day some one told me all about fx and how it was a 24 hr market and how the commissions and spreads are so low and the leverage and about how much vast amounts of money they had made and all that and how they became pro trader millionaires ... :lol:

I now realise that isn't so. I am sure on the institutional level you dont use high leverage and u probably get tier 1 interbank spreads.

Anyway regarding books yes i have them but since i recently joined the forum I'm not sure if i can post them here. Can someone please confirm this? if not i am sure u can easily find if u search the net.

Hey good to know that u were also a FX trader. Its very important which platform to use[like spread of xtb is very bad but spread of GCI and Alpari is very good] and practicing in demo a/c before thinking about opening real a/c. Currently I am doing scalping in cross currencies in which spread is very minimal like 2 to 3 pips and currently I am trading on 15 minutes charts only selling on fibonacci resistance and buying on fibonacci support. You can say out of 10 execution 7 to 8 is in profit. I am sure even in my real a/c I can easily make 20 30 dollars a day using 0.10 lot [which is minimal] and using a leverage of 50 and 100 [not more then that because greed can destroy u]. But to open a a/c u require around 50k which is a huge amount for me so no plans right now but in the future.