Missed @asitbaran at the appointed time.
Thrilled to listen to this recording🙏
Took a pen & paper and listened to each & every word.
Quite familiar with the initials & then came the "Tricks mastered by this Data scientist".
Initials: Swim the ocean/ surfing
Know your unique DNA
Understand the texture of mkt-Even when higher t/f is sideways, there is much action in smaller t/f
Cream of trades on 7-8 tr.days out of 20-22 tr. days.
If not alert, awakening by the mkt
Act like a sniper/Breathe the mkt
More than the direction of mkt, the quality of direction
After the above initials comes the "Tricks" 1. Prefers 50 Delta than 90. 2. If (for eg.) 1800CE stopped out & still have bullish view, go for 1700CE than pyramiding dn with 1800CE
3.OTM with lower delta(20) isn't preferred; better ATM with 40-60 Delta
4.Option buying is "In the moment" (& may be 1 or 2 days more) & like a perishable(Veg.) business
5.About Hedging: You do it when no clarity; IF no clarity, why have any position?
And, when you have clarity, why hedge & why not naked position?
6.Come out of "Fear", major shift happens
7.Finding trade is easy; Subsequent Trade management with pyramiding to exploit that find is key
Wisdom:
* How much efforts & seriousness of that efforts alone will work
* Develop your unique style of trading
* Stay longer, Mkt rewards
In which business, successful ones reveal so much for aspiring ones
When that happens, simply "Be grateful", soak in those golden words, reflect on them, breathe them every waking hour, attempt to adopt & incorporate them in your trading life.
Much grateful & appreciation🙂🙏
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#Hdfc
Week-Day-Hour aligned to take out ATH.
2 scenarios: 1. A 5th to complete soon to bring back time consuming consolidation. 2. A major 3rd wave as was seen in #NiftyIT few months ago and is being seen in #Banknifty last few weeks
#Banknifty in focus. #Hdfcbank 8 days of cons. A move past 1560-65. #Icicibank 10 days of cons. A move past 717 #Reliance 6 days of cons. A move past 2400 #Hdfc 3 days of cons. Holding 2785-2805 & move past 2825
Learn & Earn "ABC" of Trading: #Elliottwave
Corrections are primarily-Zigzag & Flat
Flat's sub-waves 3-3-3 or 3-3-5
You see "A" with 3 sub waves, "Flat" in play
The range bound price action is bullish. #Nifty
Established "17210-17310" range.
Break out & break down beyond this.
#Nifty below 17284 would move lower as in an "Irregular flat" (Remained below 17325 but made a high which is higher than 17312)
Learn & Earn "ABC" of Trading.
Making money with "Flat" corrections.