Women of all ages can achieve financial freedom by learning technical analysis

Meghana V Malkan

The word freedom means the power to act, speak or think as one wants. When put into the financial context, this translates into the ability to live one’s desired lifestyle with enough passive income to support it.

Financial freedom may mean different things to different people. For a woman, apart from worrying about the food on her plate, it means a few other things as well.

Conventionally, finances have been part of the male domain, be it managing the family assets, co-ordinating with the wealth managers and so on.

This is one of the primary reasons that the wealth generation activities have so far eluded women, much until the last decade.

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But, with the arena now opening up, one witnesses the presence of women in mainstream investment fields across asset classes – be it real estate or the stock markets. Because ultimately, financial independence is 'fundamental independence'.

We live in a modern age where the professional independent women want to claim her share of independence. Well, most of us do. This is a widely accepted fact that women make better money managers.

The ability to diversify extremely well, the skill to balance multiple things at a time and an eye for details have them going way ahead than men as far as finances are concerned.

What then could they do become a front runner in taking up this responsibility? The key is to learn – since knowledge is always the key. Learning to make one’s own independent investment decisions was never so easy.

One can learn to analyse the movement of financial markets using a simple form of analysis called the Technical Analysis. The reason why technical analysis could be the most preferred way to analyse the markets are –

1. Technical analysis is called the study of Price. Price is derived by traders and investors all over the world trading on the same platform. Studying price is akin to the backdoor study of the fundamentals of a company.

2. It needs no prior background of finance or accounts. Anybody can learn to read and study the price movements on the charts. It scores way ahead on the simplicity front.

3. Technical studies are comprehensive. One may use them independently to trade as well as invest successfully. They also factor in the risk aspect effectively.

These factors make technical analysis easy to learn and implement by lay-person. There are a plethora of resources in the form of books, online material and free software to learn and practice the tools of technical analysis.

So take the first step. Learn. There is no better power than to discover confidence with yourself.

(The author is trading coach at Malkansview)

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are her own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.