Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
re: Day trading Nifty & Banknifty Futures
If one trades with any kind of dependency the end result will always be like this only.
I know a case of a business group who started trading activities and took some deposits from people and commissioned a Elliott wave analyst to advice them on markets on hefty fees as the analyst had made lots of publicity.
Market was in uptrend and these guys kept buying.....they bought a stock at 325...it became 375...our analyst was taking fat bonus home. Then the market topped out.Stock came to 350...analyst brother said this is a corrective wave so it will make a new top...so buy here...those guys bought....then price came to 325...analyst was very confident saying this downmove is not an impulse..it is a correction so buy more...they bought more...then came 300-250-200-150-125-100.....finally it became 82 and still he says no impulse...the business group head intervened and said hell with your impulse.....liquidate all positions....
They lost a few crores and they had to sell one of their plots in prime locations to repay the investors as the group was very reputed and they did everything silently so that no one knew the " inside story".
Now Elliott guys will say that person misjudged.....but no stoploss anywhere ????
Smart_trade
Market was in uptrend and these guys kept buying.....they bought a stock at 325...it became 375...our analyst was taking fat bonus home. Then the market topped out.Stock came to 350...analyst brother said this is a corrective wave so it will make a new top...so buy here...those guys bought....then price came to 325...analyst was very confident saying this downmove is not an impulse..it is a correction so buy more...they bought more...then came 300-250-200-150-125-100.....finally it became 82 and still he says no impulse...the business group head intervened and said hell with your impulse.....liquidate all positions....
They lost a few crores and they had to sell one of their plots in prime locations to repay the investors as the group was very reputed and they did everything silently so that no one knew the " inside story".
Now Elliott guys will say that person misjudged.....but no stoploss anywhere ????Smart_trade
re: Day trading Nifty & Banknifty Futures
Actually I started with Elliott wave studies, studied Frost and Prechter, Glenn Neely.....broke my head in countless hours in deciphering which wave is unfolding. But I soon realised that I lost more money on my analysis than I made on it.
As Thomas DeMark puts it " Elliott wave is like smoke...you can see it...you can analyse after the event but you cannot catch it ...."
Hope no Elliott wala around...had neither intension nor patience for getting into arguments.
Smart_trade
Actually I started with Elliott wave studies, studied Frost and Prechter, Glenn Neely.....broke my head in countless hours in deciphering which wave is unfolding. But I soon realised that I lost more money on my analysis than I made on it.
As Thomas DeMark puts it " Elliott wave is like smoke...you can see it...you can analyse after the event but you cannot catch it ...."
Hope no Elliott wala around...had neither intension nor patience for getting into arguments.
Smart_trade
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