My first blog

This is my first blog. I have been trading in nifty since last couple of years; more precisely I login into my trading account few time every quarter and blowing up all my hard earned money.

Tried learning few things many times in past and tried hard to stick to trading plans/stop-losses,,,,  but not able to do so.

Repeating the same things again now. Is there is anything new this time??? I guess yes, trying to learn Elliot Waves, some patience and will post my understanding here on this my blogspot (journal kind of stuff for my personal review) .

Will try not to be an emotional fool or greedy this time and stick to the numbers only.

As per my understanding  wave counts are as-

1=9854 (started from 9688, height =166 points)
2=9775
3=10067 (9775+269(161.8% of 1st ))   0-3=421
4=9956
5=9956+260(61.8% of 0-3 wave height)=10216 ???

Since 5th already crossed 38.2% of 0-3 wave, next target is 61.8% which comes to 10216.
3rd wave is already an extended wave(by 22 points) as per my understanding, so 5th should target 10216 only or else extended 5 can go upto 10377(100% of 0-3 wave length).

Another view -

In 5 min chart, first wave started from 9956
0=9956
1=10037
2=10007
3=10168(200% of wave 1)
4=10156(a flat correction, less than 23.6%)
5=10225(61.8% of 0-3 wave)