Technical analysis and derivatives book by Ashwini Gujral.

The New Technical Trader and Beyond Technical Analysis are what I remember of Tushar Chande’s books .One should be able to get them from amazon.The ideas I acquired from these books alongwith those from Micheal Douglas' books helped in transforming my own trading from an expensive hobby to a highly rewarding profession.

Yes you are right – one should be circumspect in talking about someone that you personally do not know -I am sorry about the personal reference in the earlier message which happened because a friend of mine who knows the person ( been a subscriber I guess) told me he sells snake oil for a living! I understand Tushar Chande is a scientist and holds several U.S. patents for creative solutions to flexible manufacturing problems using high-power lasers and optical fibers.

HI all

Thanks for taking the time to discuss my book. I am glad some of u liked it. I believe a book shud be simple and practical oriented to be useful to the lay investor/trader. As regards selling snake oil, i would like to invite any of you, who is interested to contact me. My e-mail is contact@ashwanigujral.com.

The book has recieved a huge response, thanks to all of u. And i have hence decided to write 5-6 more books in the next 2-3 years. The next one will be called "Chartbook of a trader" and will discuss the various patterns and market momentum, and the way they can be used. Vision books has already signed the above contract for the next 6 books with me.

As regards Indian technical analysis and myself are concerned, it is in good hands, please go through the following letter sent to me by Mr Greg Morris(known for his work on candlesticks):

Ashwani,
Thank you for your email. I had asked Jayanthi(Editor, Stocks and commodities magazine) about you since I have enjoyed your articles on candlesticks in Stocks & Commodites magazine. Yes, I am about to embark on the second edition of Candlestick Charting Explained and I am always looking for solid opinions from others who fully understand the logic or candlesick analysis. With your permission, I would like to run some ideas through you for your feedback as they come available. Let me know.
Thanks,
PS Incidentally, the original hard cover book was published in 1992 and called CandlePower.


Greg Morris
3105 Falcon Heights
10621 Big Canoe
Big Canoe, GA 30143-5131
706-579-3341 StockCharts
706-579-1392 MurphyMorris
309-420-6970 fax
N34.28.655 W084.17.215
http://www.stockcharts.com
http://www.murphymorris.com
http://www.murphymorrisfunds.com

I think i need no bigger certification, Mr Greg Morris, is part of famous www.murphymorris.com site, which is run by Mr John Murphy, the father of mordern technical analysis.

i would be happy if answer any questions regarding the book.

thanks
ashwani gujral

I thought you had written selling as some kind of analogy or I too would not have written so much. Sorry about that.

Thanks for letting us know about Tushar Chande's books. You seem to be quite experienced. Just as one has to optimize one indicator for different stocks, is the Chande momentum oscillator too for certain specific situations if not stocks or a subsitutes for other oscillators. In that case he would not have become famous

There are so many indicators that it can be difficult to seperate the wheat from the chaff and with too much analysis, one can easily lose focus.

I think that Aroon too is also by Tushar Chande. That is quite different from ADX but how exactly does the CMO differ from other oscillators, I would appreciate if you know.

It is said that " Hobbies are more a measure of a man than profession is" or " Make your passion your profession". In this context, I must add that you are a very lucky man( and hopefully lucky in your transactions as well). Many of the great businesses in USA started as hobbies.

For people following this post, Ashwani Gujral has a site www.ashwanigujral.com. The book is more impressive in my view.

Welcome to the forum, Mr Gujral. I have already mentioned some finer points in your book.

One cannot review the whole book specifically but I particularly liked the way you explained ADX, the covered call and 20 DMA.I also found the parameters of MACD(3,10,16) and stochastics((7,10) unique since I did not come across them in earlier books.
What you have written about the myths of Indian markets also made interesting reading

I wish you had also covered the fancy functions of softwares like metastock, maybe more charting exercises, interpretation of future options data, volume based indicators, Mechanical trading systems etc.

Since you have been so practical, you should have also attempted to remove/confirm notions about Elliot wave opinions on which are rangebound.

The book nevertheless is a handome effort:-


My dear Ashwani,
In recent times, yours is one of the best books on trading and managing money
It rightfully exhorts us to go for big profits while saving every penny(keep losses small)
I hope beginners get attracted by it as bees to honey
From that perspective, it is so good that it deserves a mention by CNBC's Mini(Menon)
Because of dearth of Indian authors, you have made things bright and Sunny
It deserves as good a response as the pricegain recorded in 2004 by Balrampur Chini(Share)
I do hope that you won't restrict yourself to one book but quickly come out with many
The gratitude is heartfelt though I may sound funny
Delhiiites should be glad to have around people like you and Mr Sukhani

As for the reference to the snake
The concerned person has expressed regrets and himself applied the brake
Sometimes such things happen like primary share issues which are fake
We can kiss and make up by cutting a cake
We can drink to your and your book's future at Batkal lake
And hope that you continue to write for at least beginners sake.
One will always appreciate people who enable others to improve and protect their stock market stake

I would once again like to thank you for sharing your information and knowledge like Mr Sukhani. I have been to the Vision books shop in Lajpat nagar several times and wondered why there are so few books on Technical analysis and Trading by Indian authors. I have come across people reluctant to share knowledge( like that song Parde me rahne do, Parda na uthaao, Parda jo uth gaya to bhed khul jaayega. allah meri tauba....). In that context, nice to know that you will come out with many more books especially since education in our country on this subject is so unstructured. Please try to do it faster.

Till then

I shall continue to deride and chide
Traders who try to take beginners for a ride
Traders who try to hide
Knowledge and information as if it is their newly wed bride
The subject of Technical Analysis is long and wide
Only with help from you and Creditviolet** can we cope with all trends-ripple,wave and tide
And mention our association/acquaintance with you with pride
One only hopes that people like you and Credit continue to be our trading friend,philosopher and guide.
**Creditviolet of this forum has also been very charitable with his knowledge like you.

very interesting post sh

Thanks for the lavish praise, makes me humble. U seem to be a very colorful personality and people like u make discussion forums a pleasant experience. My latest interview is now available at www.traders.com. A free copy of the Stocks and commodities magazine can be ordered as a trial from that site.

I shall continue to impart trading knowledge and insight to protect if not to enhance investor/trader wealth

take care and happy investing

ashwani gujral

I don’t know about colorful but I had become colorless while trying to learn Technicals for the past six months till I bumped into you and Mr Sukhani. On a more serious note, I also happen to know several people who have become financially colorless(one of them my own Uncle) because of ignorance of the mechanics of the market. Anybody who openly says that “ The share market is the easiest way to lose money and not the other way around” as you have said should be appreciated.

I must also compliment your practical presentation on option greeks in the book without getting too much into methatmatics which makes the subject "greek" to most people, especially beginners.

In my view, education on Technical analysis is a must to dispel the “easy money” myth . When one experiences how difficult it is to predict the market despite so many indicators of different types, the easy money syndrome shall die a natural death.

If you can, try and cover fundamentals too in your next book and come up with something like,"How to think like a fund manager" though I know their volumes and strategies would be different.

I don’t like blowing my own trumpet or making this a mutual admiration society but as actor Shahrukh Khan said once,” You can’t be a show on unless you try to be a show off”, I would like your views on this poetic presentation on Technical analysis( There is at least a verbal synergy between share(stocks) and sher(shayari) and so I hope you won't mind:-

http://www.traderji.com/showthread.php?t=1481

Members of this forum know that I am very fond of analogies(like the verbal one above) and since the analogy on the lady mentioned in your book is one of the best I have come across so far, maybe you would like to take a look at this too

http://www.traderji.com/showthread.php?t=1403

Dear SH50,

It is really surprising to see the word 'excellent' when referring to Microsoft manuals. The company cosistently produces excellent whitepapers and
marketing documents though.

Sincerely,
pu8likk

Hi ,
To All

DITTO

THE BOOK IS COPY OF FEW "VERY OLD" WALL STREET BOKKS USALLY FOUND IN PUBLIC LIBRARY OR FREINDLY BOOKSTORE KEEPER IN $2 AT DISCOUNT USE IT IN NASDAQ AND BECOME BROKE.
IT IS PARTICULARLY INSPIRED BY " TRADING FOR LIVING"
ESPECIALLY "ADX" PART.

hi,to all the members of traderji.com,i have recenty joined your group & hope this relationship will be long lasting and profitable for all.