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Steve Nison, CMT

Steve Nison, CMT

Steve Nison, who was among the first to receive the Chartered Market Technician (CMT) designation, is a renowned author and speaker who claims the distinction of pioneering candlestick charts to the Western world. Steve has authored three books, including the widely-known Japanese Candlestick Charting Technique.  He is also an expert on Western technical analysis with over 30 years of real-world experience.

Regarded as one of the foremost technical analysts in the world, Steve’s client list includes Fidelity, J.P. Morgan, Goldman Sachs, Morgan Stanley, NYSE and NASDAQ market makers, hedge funds and money managers. His work has been highlighted in The Wall Street Journal, Worth Magazine, Institutional Investor and Barron’s.

Steve has appeared numerous times on CNBC, and his segment on FNN (the precursor to CNBC) brought in the most viewers that network ever had. His sold-out seminars have been hailed as the most valuable and entertaining in the industry. He has presented his trading strategies in 20 countries to traders from almost every investment firm on how to apply – and profit from – these methods. 

Steve has also lectured at numerous universities, including Baruch and Cornell, and has been a guest speaker at the World Bank and the Federal Reserve. He was previously a senior technical analyst at Merrill Lynch and senior vice president at Daiwa securities. He holds an M.B.A. in Finance and Investments.

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            [post_content] => Hello Readers!  

Wishing all of you a prosperous and healthy Diwali in advance. May this festival light up your lives, both personally and professionally! 

The recently concluded CMT 2020 India Virtual Summit was a great successWorld class speakers graced us with their virtual presenceand I can confidently say that there are decades of learnings in the recordings of these sessions that any analyst would benefit from immensely! A big thank you to all the Speakers and participants for making this Summit a memorable one. For all those who missed it, we have compiled some session descriptions and have dedicated this edition of the Newsletter to the Summit. There’s GOLD in these sessions, so do make sure that you go through them before the online video recordings expire on November 16, 2020!   

If you had already registered for the Summit, log back in to your digital event guide to access the recordings. If you hadn't registered for the Summit, you can register to view the recordings here https://cmtassociation.org/events/2020-india-regional-summit/

As a market participant, there are certain concepts that you learn through personal, rigorous study and certain concepts that you learn by simply being a part of the system. I recently came across interesting analogies in Sanskrit and found it quite relevant to us. 

Markata Kishor Nyayam: (Baby monkey principle/law) 

You must’ve noticed that the mother monkey moves swiftly from one branch to another while the baby monkey hangs on with a tight grip so as to not fall. Here, the baby focuses on the grip, while the mother focuses on movement alone.  

Marjaala Kishor Nyayam: (Baby cat principle/law) 

A mother cat carries its kitten in its mouth to move them to safety or to a different location. Here, the onus lies on the mother to make sure that she doesn’t drop or hurt the kitten while holding on to it with a delicate balance of grip and care. The kitten surrenders itself to the mother. 

As traders and analysts we spend countless hours understanding various aspects of the market by holding on to it with a tight grip, as it swings from bull cycles to bear cycles, just like a baby monkey holds on to its mother. There are also times when we understand concepts by being part of the market where the market guides us and helps us, just like a mother cat doesOne cannot always be as tenacious as a baby monkey or as laid back as a kitten. It is a combination of these two approaches that leads to a fulfilling understanding of a subject. 

In order to improve our trade, it is imperative to revisit the involuntary errors we make and work towards overcoming them together: 
  1. I will refrain from saying “I told you so” (this one is particularly difficult in our field) 
  2. I will not compare my Chapter 8 to someone else’s Chapter 20  
  3. I will not blame the market for my errors (this is just convenient. Why would the market single you out?)  
  4. will exit the trade once it has triggered my stop loss; not average it (aren’t all of us guilty of this at some point?) 
  5. I will identify patterns on charts without forcing them (if I just tweak the lines a little, I can make it look like a triangle…maybe) 
  6. I will focus on being unbiased (My way or the highway really doesn’t work here) 
These are some of my New Year resolutions. I figured I might as well get an early start. You are free to borrow and build on them!    Until the next time,   Rashmi Shastry, CMT [post_title] => Technical Insights - November 2020 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technical-insights-november-2020 [to_ping] => [pinged] => [post_modified] => 2020-11-09 15:53:34 [post_modified_gmt] => 2020-11-09 20:53:34 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technical_insights&p=53436 [menu_order] => 0 [post_type] => technical_insights [post_mime_type] => [comment_count] => 0 [meta_id] => 570934 [post_id] => 53436 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:5:"52773";i:1;s:4:"1805";} ) )

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