The old adage in the stock market advises investors to "be greedy while others are scared." Retail investors rushed to get a piece of the stock price action after the record drop in the stock market in March 2020, hoping to ride the wave back to the top of the market, and they were rewarded for their efforts. Over the past two years, the Nifty has generated returns in the double-digit percentage range. A number of traders have been brought to their knees as a result of the crash in the markets in 2022, but not the anonymous future and option trader who also works as an auto-wallah. He is also known as an "old and experienced trader who has taken to commuting to an auto-rickshaw after losing all wealth he had in the market."
An account holder on Twitter with the handle @tony gazillioni described the ride of a lifetime in an auto, during which the driver discussed methods for making money in the futures and options sector of the market. Bear in mind that dealing in futures and options is not for the faint of heart or for the typical Joe stock investor.
"The auto guy started a few minutes after I sat down because he wanted to wait for his setup," Twitter user stated. Pivots plus ST on the options charts was his strategy, which he shared. When it breaches a level and super trend gives the go signal, enter the market. Exit in 5 min.
As evidence to support this, the Twitter user who dabbles in online trading also uploaded photographs of the mobile platform that the auto driver uses to place bets on price actions while he is driving carefree through the streets of the city. "Exit after 5 mins. Take huge positions without fear," the auto driver-commodity trader preached to his passengers as he shared his strategies for successful transactions.
"The market would not have fallen if it were not for the inflation," he continued, referring to the recent decline in the market that is largely attributed to geopolitical tensions and the action taken by central banks to tame inflation. It goes without saying that the incident underscores the strong belief that millions of retail investors still retain in the domestic market despite the persistent sell-off by foreigners in the domestic market over the past few months. Nifty requires a hero of the working class in the form of the anonymous auto driver intraday trader right now. And so do each one of us.
While entering into day trading is fun with a reputable brokerage on your side, there are certain pointers you may use to succeed. Begin by purchasing stocks that are readily available. These may be exchanged quickly, and there are always a variety of buyers interested in them. Conduct a technical analysis of market data. This allows you to discover equities that have moved above their support and resistance levels. Making the most of advantageous periods and using your expertise are the major factors in making your intraday trading successful.
Related Articles: Follow these 5 Expert Advices to Get Started with Investing | 4 Investment Mistakes New Stock Market Players Must Avoid at All Cost | 5 Rules Every New Investor Must Know Before Investing | 10 common mistakes made by SIP investors | 4 Smart Must-Follow Investment Tips for Beginners in India