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Contributor

George Rahal

George Rahal

George Rahal has been writing about financial markets for several years. He began his career in Lazard Capital Markets’ equity research department. He has since been involved in technical research and trading, which he applies in his current role at Landor Capital Management.  He earned his B.A. in Literature from NYU. Mr. Rahal has passed all 3 CMT and CFA exams.

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LETTER FROM THE EDITOR

This month, we have tried to collect examples of thought provoking analysis techniques. Several members have contributed their unique perspectives and our hope is that others can benefit from the ideas they share. This issue is focused on the practical aspects of technical analysis. As a group technicians tend to focus on obtaining practical results in the markets. Being right is secondary to making money. That means the analysis presented may be outdated by the time you read this. They are still valuable examples of the analytical process. We’ve been using this new format for several months and would appreciate any feedback you have. The goal of Technically Speaking has always been to offer interesting information about technical analysis and the MTA, but over time the format has changed. Please let us know what we can do to deliver content that meets your needs by sending an email to editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, December 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:23:26 [post_modified_gmt] => 2020-03-25 17:23:26 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=46950 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 404437 [post_id] => 46950 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:5:"46952";} ) [1] => stdClass Object ( [ID] => 47060 [post_author] => 2 [post_date] => 2011-11-15 12:00:02 [post_date_gmt] => 2011-11-15 17:00:02 [post_content] =>

LETTER FROM THE EDITOR

Our Ethics Corner feature has generated some feedback, and this month we are revisiting the first case study we presented. As expected, there is room for differences of opinion on ethics questions. In part, the growth of international membership in the MTA should guarantee some discussion on ethics. Laws differ among countries and cultural differences are greater than many assume. Perhaps the only undeniable truth in ethics is that people are not all alike. Different people hold different opinions, which is the underlying reason we have a market to trade. While cultural differences must be considered in any situation, the Standards defined in the MTA Code of Ethics are mandatory for all members and affiliates. While there may be a less strict requirement defined in local laws at times, the Code of Ethics requires that the stricter rules of the Code must be the guide. Obviously if the law is stricter than the Code of Ethics, the Code does not offer an excuse for breaking the law. We look forward to continuing discussions on ethics. It is important to our profession to hear as many opinions as possible. By understanding why some scenarios present “grey zones” we can make professional ethics stronger. Please send any comments to editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, November 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:23:13 [post_modified_gmt] => 2020-03-25 17:23:13 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47060 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 406023 [post_id] => 47060 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:5:"46952";} ) [2] => stdClass Object ( [ID] => 47160 [post_author] => 2 [post_date] => 2011-08-15 12:00:50 [post_date_gmt] => 2011-08-15 16:00:50 [post_content] =>

Letter from the Editor

Last month, we carried the news that Julie Dahlquist, PhD, CMT, had been named as the new editor for the Journal of Technical Analysis, which is the scholarly publication of our organization. Many of us look forward to the next issue, as we always have, to learn the details of new techniques in our field and to see examples of in-depth research topics. Research articles can also be submitted to this newsletter. Generally, shorter articles will be found in the newsletter while detailed and thorough examinations of a topic are more suitable for the journal. The monthly publication schedule also allows for immediate feedback to the author from the thousands of members around the world who will see the article. Hopefully you’ll find the research being offered in Technically Speaking useful. We’ve also included member profiles in this issue, which may help newer members see that there is no single career path in the field. MTA members have varied backgrounds, and success is determined by hard work more than any other factor. We strive to provide content that is useful, readable, and varied. If you have ideas for articles you’d like to see, please let us know with an email to editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, August 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-august-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-10 21:23:39 [post_modified_gmt] => 2020-03-11 01:23:39 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47160 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 408696 [post_id] => 47160 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:5:"46952";} ) [3] => stdClass Object ( [ID] => 47256 [post_author] => 2 [post_date] => 2011-04-15 12:00:07 [post_date_gmt] => 2011-04-15 16:00:07 [post_content] =>

Letter from the Editor

We’re featuring a couple longer articles this month, which we think fit well in our newsletter. George Rahal takes a detailed look at quantifying potential rewards relative to risk, an important trading consideration. His contribution is well written and understandable to the novice trading system developer while offering new insights to veteran programmers. Andy Ratkai, CFA, recently prepared a report for his clients that brought together several interesting macro insights. In a way, he ties wave analysis into behavioral finance and raises a number of thought-provoking ideas. Buff Dormeier, CMT, continues to share high quality research on methods for applying volume to market analysis. He recently released a book which adds to the Body of Knowledge of Technical Analysis while offering actionable guidance for traders. It’s also that rare book which is interesting and a fun read. Although we never make guarantees in our profession, I am confident that I could guarantee everyone will learn something form this book as Buff combines historical stories with new techniques. Next month, many members will gather at the Annual Symposium in New York. This event is always well-attended and highly educational. It’s also an opportunity to meet other members, and I hope to meet many of you so that I can learn what you expect from your newsletter. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, April 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-april-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 17:26:42 [post_modified_gmt] => 2020-03-11 21:26:42 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47256 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 410923 [post_id] => 47256 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:5:"46952";} ) [4] => stdClass Object ( [ID] => 47280 [post_author] => 2 [post_date] => 2011-03-15 12:00:51 [post_date_gmt] => 2011-03-15 16:00:51 [post_content] =>

Letter from the Editor

This month, we are simply highlighting the success of technical analysis. The MTA remains at the forefront of the field and its general acceptance throughout the investment community. In this issue, the success of another regional seminar is detailed. These one-day seminars play host to over 200 attendees and will undoubtedly continue to be well-attended wherever they are held. We also feature an article highlighting the technical analysis of noted analysts Jeremy Grantham and David Rosenberg. While Grantham may not admit to being a technician, his work is easily recognized to members of the MTA as technical analysis. Rosenberg has a large audience and frequently offers technical analysis, helping to increase the acceptance of technical analysis among institutional investors. It seems obvious now that the widespread acceptance of technical analysis in the investment community took a giant step forward when the CMT exam process was introduced. Two articles detail parts of that process: Lance McDonald describes studying and Brad Herndon describes grading. Academia frequently looks at technical concepts and uses different terms to describe well-know concepts. As one example, academic papers about momentum are easily recognized as relative strength strategies by practitioners of technical analysis. An article by George Rahal bridges the divide between behavioral finance (in academic terms) and technical analysis. Please let us know what you’d like to see in future issues of Technically Speaking. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, March 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 17:55:30 [post_modified_gmt] => 2020-03-11 21:55:30 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47280 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 411339 [post_id] => 47280 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:5:"46952";} ) )

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