srisara said:
Amit I am awating for your reply on this...Satya
Satya, a few points I would like to say to you...
First, a pice of software is merely a piece of software till the person using it gets into the depth of what it was designed to do...meaning it'll crunch the numbers only. The numbers remain numbers till one learns to decipher them from a really wide perspective, like the circumstances in which they were generated, a historical rear view, and from that, a foresight. I am sure there are many who have Metastock or Advanced GET etc. but how many are there who can really glean some gems of analysis from them I wonder. It's like giving a violin in the hands of an expert and a novice. You seem to belong to the South and must surely know the difference!
To get to your request for my Excel data. What there is here, is the EOD data going back to 256 odd columns, as many as one sheet of Excel can hold, plus a couple of linked sheets that go back that many more columns, say, about two years of data in all. Needless to say the exercise has been extremely tedious and time consuming, opening Bhavcopy archives from the NSE site and copying and pasting. Further, as there are scrips dropped and added everyday almost, it has been a struggle to organize the rows containing data, in correct order against the Symbols in the first column. Over and over again the data was messed up and I had to start afresh. Now I have figured a way around this.
What I am getting at here, is the long hours spent doing this have helped train my eyes to look for patterns in the lakhs of cells containing numbers, and pull out some interesting ones while missing out many more Im sure. That is the extent of my Excel file. Its a system I have organised and learnt to use. And before this I had to read many books on TA to understand how the various indicators work and what the logic is in them, like MACD, ROC, RSI Moving Averages etc, various important theories, and a lot more indeed.
I dont wish to sound superior, or as if I am unwilling to share what I have, and discouraging you for that reason, but I really dont see how all the data in the Excel file is going to be of any use to anyone who has not worked his/her way through the building up of it and understands how to build upon it, more so without a good understanding of TA.
My suggestion is, learn as much as you can the various facets of TA first, and how to interpret them on the charts. You can get hold of software and EOD data from many different sources, once you are on your way. Practice along, read and learn as you go. Thats the only way.
Secondly, I am more than a little concerned at the lack of proficiency in tech analysis, together with a limited understanding of the nature of the derivative market, plus a marked degree of impudence and nonchalance with which some people here play and make calls on derivatives. Warren Buffet, the great guru of the markets has called derivatives the Financial Weapons Of Mass Destruction. You may be quite aware of this fact I believe, recalling some posts in the past.
My advice here is, refrain from playing here unless you are very sound and experienced in TA and derivatives, both. Otherwise it is speculative and a gamble, and extremely dangerous. Don't ride your luck on this. You may get away buying and selling stocks in the cash market on tips and calls and make profits or book some losses, but derivatives are most unforgiving when the tide turns against you.
I do hope you will understand all the various issues in this post without a grudge, even if you disagree with anything I have written.
Good luck and all the best.
