Saleh Nasser, CMT, is an executive director and the Chief Technical Strategist of Pharos Holding. Prior to joining Pharos, Saleh was the Chief Technical Strategist of CIBC from 2001 until 2008, and he was a member of the CIBC investment committee, as well as a member in the CICapital investment committee. He worked as a chief technical analyst in Flemings CIIC from 2000 until 2001 and he was responsible to follow-up on Egyptian Market and Global equities markets, as well as training traders and employees on short-term and intermediate-term trading tactics.Saleh completed his CMT designation from the Market Technicians Association (MTA) in 2001. He is currently a CFA level 3 candidate.Saleh is the director of the education committee of the International Federation of Technical Analysts (IFTA). He also heads the education committee of the Egyptian Society of Technical Analysts (ESTA) and is the past president of ESTA. Saleh is the originator of the CETA Professional Program which belongs to the Egyptian Society of Technical Analysts, and which is one of three international degrees that are accredited by IFTA as equivalent to the CFTe.In 2003 he was invited as a speaker in Washington DC, to talk about his new indicator (Deviation Oscillator) in the annual IFTA international conference that was hosted by the Market Technicians Association (MTA) of the United States of America.Saleh was also invited as a speaker and keynote speaker in many seminars and conferences which were hosted by Bloomberg, Reuters, Elmal Newspaper, and other conferences that were hosted by the Egyptian Stock Market.
Markets have been more difficult to trade lately, especially with the increasing volatility, more specifically during the past few years. One of the tools that technical analysts have been using since a long time is ?mathematical indicators?. Many traders have been using indicators in their classical form without making much changes either in their calculations, or interpretation. Our speech will deal with new ways to interpret and use indicators; in addition to trying to understand how to use indicators in the best possible way to try avoiding bad signals (or whipsaws) as much as we can. One of the main issues with technicians for example is depicting overbought and oversold areas. As most of us know, it is difficult to depict an overbought situation during an uptrend, or oversold during downtrend; we will discuss this issue and search for the golden indicator that enables us to do that. We will also see how to overcome some whipsaws by very simple tactics (the 4,9,18 will be used as an example). By the end of the speech we will make a little brainstorming about some issues that have been always mentioned as facts, and think together if the information that we have always been taught are correct or not.
Playing with indicators
- Using Stochastic with MACD during an uptrend
- Slight modification on the 4,9,18 system to overcome whipsaws
- The best Overbought and Oversold indicator ever
- Using the +DI and ?DI spread to catch divergences
- Food for thought: The stochastic is ?not? a momentum indicator