Hello from a newbie


Firstly, thanks to the admin, moderators and owners of this forum to provide a place where trading is being discussed so neatly and in a varied fashion.

I am a newbie to trading world, per se. I traded based on my broker’s calls back in 2011. Made handsome profits and then went to breakeven, then made profits again and went to some losses, then again went to breakeven and eventually stopped following the broker’s calls after making some profits. I was thinking why I should risk my money based on someone else’s services (that too when the services are for free!!!). Stopped trading in late 2012.

I embarked on finding (and then learning) a method that will consistently provide profits. Started off with basic technical analysis, then went on to Elder’s safezone-triple screen method. Found it very much forthcoming. The only problem faced was that the stop used to be way too far to dare taking the position (money management was not allowing taking such positions). Kept the method aside for time being.

Since early 2015, turned my attention to Elliott Wave Theory (EWT, henceforth). Read/got to know the basics from a relative-of-relative of a friend of mine. And here I am.

What do I want to do?
I want to keep a log of my deductions made per the EWT as seen and arrived at in realtime. I will start with NIFTY spot and check my performance first.

Why log stuff in the forum?
Keeping the log on a forum open for anyone to read will make logging more ‘sincere’ than keeping it in just-for-me word file. More valuable stuff will be the comments it will attract (I hope senior, experienced trader members will also comment).

What to log?
View of the market, with probable targets and stop(s). Possibly, an alternate view if the stop(s) are hit will also be logged (although it will be pretty difficult for a newbie like me). Lets see. I am looking at logging 2-3 times a week.

Any comments and criticism is always welcome. Afterall, that’s the best part of this forum.

So, all said and done, this is where I am!

Thanks for reading!


Disclaimer: Whatever I am writing in this forum is only for educational purpose. No one should treat it or infer anything from it as any sort of advice. If any person does it or takes positions based on what I write, the person is doing so at completely his/her own risk. I make it clear that any loss of any sort (not limited to anything) incurred by any person is that person’s sole responsibility and I will not have any connection whatsoever to the loss as mentioned above.

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