1. First create new project in Adobe Flex Builder 3.
File -> New -> Flext Project give some name (say Binod_ShareTrading) and click on Finish.
2. Paste you local XML into src folder (say addressbookdata.xml)
3. Right click on Binod_ShareTrading project and click on properties -> Flex Compiler and come to Additional compiler arguments: and put this info
-locale en_US -use-network=false and click on Apply and OK.
Now it will inform to httpserice that do not look on internet for the given XML file.
4. Now start your code in Binod_ShareTrading.mxml (May be different in your case)
<?xml version="1.0" encoding="utf-8"?>
<mx:Script>
public function checkUserAndPassword(name:String,pass:String):Boolean{
<mx:Rotate id="rotate" angleFrom="-180" angleTo="0" easingFunction="Elastic.easeInOut" duration="2000" />
IMP : Here in the above code you can also find the conversation between XML file to ArrayCollection.