Day Trading Futures

[XRAY27]

I was fortunate to have been trained by one very senior trader and one of the best Eliott Wave Analysis expert. He trained me and another trader friend who was very arrogant and I learnt a lot from this great teacher and a fine gentleman. He taught me to be humble, to be always ready to learn, always have a second plan of action ready if the most preferred one fails, always be flexible in the market etc...

As both of us were taking EWT lessons and applying to realtime markets...many times we got absolute accurate entries and sometimes our analysis totally failed. But the arrogant trader friend thought that the market MUST behave as per his analysis and views. At one point of time , he rang up our teacher and said " Sir I have a good news for you " sir asked "what is the good news "? He said I just completed the market analysis ...and there are only 2 people in the entire world who know for sure what the market is going to do tomorrow...."

Our teacher was surprised by our trader friends ego and said" oh...that is great , but who are these 2 persons ? " Trader friend replied " One is me.....and the other one is you" ....our teacher gave a good laugh and said " boy...please exclude me from the persons who know for sure...that makes only you as the only person in the entire world who knows for sure what the market is going to do tomorrow....I never claim that I know anything for sure...I just assess the probabilities "

This trader friend later on his charishma and big talk joined a big group as a trading advisor and suffered huge losses...and had to be thrown out and he finally went out of trading business...the losses were so big that it made a dent in the group's networth....if only he had listened to the teacher's words and the meaning of those words, things would have been very different....

Real incident...

Smart_trade

This is I/WE ARE THE BEST syndrome...

Iam very fortunate that i have seen people who are trading for there living..
during the start of trading career around 2007 when my age was 26 THEY always told me "NEVER TRY TO PREDICT MARKET,BUT DEVELOP METHODS TO COPE WITH DIFFERENT TYPE OF MARKET/S"
NOW THEY ARE AROUND AGE OF 55 TO 60 MAY BE STILL MOVING IN THERE CAREER.. WITHOUT ANY EGO ...

 

[stock72]

8150 is too much to ask given dow down 1.21% now

even if it recover to some extend .. tommorow if nifty end in green thats good ..

Tomorrow Nifty is going to zoom up. Enough Shorts in the system to eat :thumb:

Just check the PE premiums that have risen.....I'm sure they will eat them given weekend and holidays ahead

Nifty will rise tomorrow maybe to 8150....lets see

 

[sudoku1]

Dow in bad mood ? I want nifty to hold or end in positive tommorow ?
But yesterday Dow is up and nifty down today ...

Modi in US so Dow folowing us n nt d oposite :-D

 

[Somatung]

This is I/WE ARE THE BEST syndrome...

Iam very fortunate that i have seen people who are trading for there living..
during the start of trading career around 2007 when my age was 26 THEY always told me "NEVER TRY TO PREDICT MARKET,BUT DEVELOP METHODS TO COPE WITH DIFFERENT TYPE OF MARKET/S"
NOW THEY ARE AROUND AGE OF 55 TO 60 MAY BE STILL MOVING IN THERE CAREER.. WITHOUT ANY EGO ...

Toke me years to come to that stage, even I had one of the best option trader mentors you even can imagine in your dreams. His knowledge is nearly not beatable, but he never presented me the end solutions. He always told me: Do find it out by your self. And all end solutions are based on: No EGO, just what market dictates.

 

[sudoku1]

8150 is too much to ask given dow down 1.21% now

even if it recover to some extend .. tommorow if nifty end in green thats good ..

sexytrader n stock72..hav a gud nites sleep n let our mkt also hav sm sleep :-D

 

[Smart_trade]

sexytrader n stock72..hav a gud nites sleep n let our mkt also hav sm sleep :-D

They are prompting the markets, just in case the market has fergotten what to do next...

Smart_trade

 

[nirav_j]

sexytrader n stock72..hav a gud nites sleep n let our mkt also hav sm sleep :-D

its barely 9.30 pm .. who sleeps so early ?

 

[stock72]

:lol::lol::rofl::rofl:
funny ...
just discussing what market should do next :rofl::rofl:

in one tamil flim -- prakash raj do role of a super star .. an interview in that flim ask ..if u not come to cinema what u will do .. prakash raj reply .. forget me -- if i am not here just think how pathetic the tamil flim industry would be :rofl::rofl:

They are prompting the markets, just in case the market has fergotten what to do next...

Smart_trade

 

[TraderRavi]

if market end in green tomorrow .. then till wed EOD we will be in terrible upmove .. will not surprise if we reach 8300

ya .. holding 8300ce there ..:rofl::rofl:

TOTA method :- holding options and then praying market to move in that direction , trade after trade after trade after trade same story , sometimes hit sometimes miss , life sud be tension free , isnt it ? there must be some low risk low reward ways to generate money.

 

[Somatung]

TOTA method :- holding options and then praying market to move in that direction , trade after trade after trade after trade same story , sometimes hit sometimes miss , life sud be tension free , isnt it ? there must be some low risk low reward ways to generate money.

Sorry, but did not read all post. Only see the profit. Did you risk all your trading capital for that monster trade or any other idea behind?