Aiming for the trader's success by creating awareness of the 3M's: Mind, Money & Method by 
Hello everyone,
This is with reference to the Live Technical Analysis Workshop, that I will be conducting in Barcelona just after the ITC.
- Venue: The University of Barcelona
- Date: Saturday November 1st 2008
- Time: 08:30 AM to 04:30 PM
- Cost: EURO 200.00 (including food and workshop material)
You can get the complete details here: http://www.fibforex123.com/Barcelona_workshop.htm
{For traders attending the FXstreet.com International Traders Conference (Barcelona October 29 to 31) there is a discount and the cost is 150 € only!}
To give everyone a brief idea of the usefulness of the topics that will be covered, I am putting up a sneak preview of the topics.
Topic.1 - Advantages and drawbacks of the common indicators, and identifying the proper situations in which to use them. (For example - use the RSI to determine breakout levels, rather than look at the overbought/oversold situations.)
RSI - The advantage of the RSI over other oscillators such as the MACD, Slow Stochastic, is that it is smoother and is not as susceptible to distortion from unusually high or low prices. Plus it can be used to interpret price action in 4 different ways.
But like other oscillators, the basic drawback is that it loses its effectiveness in trending markets. This is because the RSI tends to remain in the extreme zones during a trend, giving false overbought/oversold signals.
Thus, one should take the strong points of the RSI and use them in a different way to overcome these drawbacks.
The peaks/valleys generated by the RSI give effective breakout levels.
In the workshop, you will learn a simple technique to correlate these levels with the price action, which will confirm a breakout from a range.
More tips later -:)
Sunil.