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Review: Gurumurthy - MyBillion.in
This is to review GuruMurthy's course 'Live Trading Course' to "Create a winning Habit"
Guru with his course intends to teach the following:
• First cut call - <Useless: Most of the time he will buy on the opposite side of trend, and keep averaging the loss making position. He takes pride in making 10 points as if he has won Olympic Gold Medal.' He will keep repeating the mantra 'Trade at the edge, trade with the edge' not realizing what a stupidity he is doing by averaging loss making position rather taking straight trade. Rating 2/10
• Price action trading: No basis for price action. He will create random lines, sometimes with Ichimoku, sometimes with trendlines, sometime with slope of Ichimoku.. No fixed pattern; and each time the price will find support at one of the several lines drawn on the chart. Clap Clap Clap- His 2/3 followers. Rating 2/10
• Fibonacci based prz: Never taught in last two months. Rating 0/10
• Bollinger bands: Decent setup, though never used. Rating 6/10
• High Probability trade set up: Ha Ha Ha: No basis for setup Sometime it is Brucelee hug, kick, punch; or sometime it is reversal from one of lines, or that sun rose in the east! I will be surprised if f any student from the batch can confidently teach a setup they think will work. Rating 2/10
• Ichimoku cloud based trades: Teaches fine, but introduces so many variations in the setup that this becomes more like creating exceptions and exceptions for exceptions. Rating 4/10
• Bank nifty weekly expiry trades: This is fine: Many times it works, but can the students explain the process or can they learn by themselves--Unlikely. Because he explains so many numbers, and volume, and ATP etc that its only confusion at the end. His calls work though Rating 6/10
• Ratio spreads: Same as above: Rating 6/10
• Hero ya zero: Same as above: Rating 6/10
• Asymmetrical trade opportunities: Same as above Rating 6/10
• Nobrainer Delta neutral strategy: Never taught properly. Rating 3/10
• Position sizing: While he suggests to do position sizing but does not explain how to do it: Rating 5/10
• Risk Management: Same as above: Rating 5/10
• De risking: He does suggest to hedge the positions: Rating 7/10
• Swing trading: Does not explain how or when: Rating 2/10
• Investments: Suggests a few scripts: Rating 5/10
• Psychology: OK Rating 5/10
On one of the days, a vocal student ripped Guru's way of taking contra calls. On the last Friday when market started to fall around 3 PM, and finally closed more than 200 points down in 20-30 minutes, Guru keep giving call to buy ATM CE, not once but more than 4-5 times. And, he justified saying that each buy gave him 10 -15 points! Market fell 200 + points, but for he justified by saying each small bounce gave him 10-15 points.
And the funny part-What was the reason for his call? Was it some indicator, market assymetry, or technical? No! NAAMAA! A trident--Guru's invention, a new pattern/shape that he has spotted a few times on the chart. When this student persisted and asked for this pattern's efficacy and the accuracy with backtesting? NO responce! But his students jumped in: "Yes, Guruji, we see it.. Naammaa Works wonders, Sir" WTF?
Guys/Gals, while one might be tantalized by the number of things he is gonna teach, but he neither goes in depth in any while teaching or while trading. Even this month we forced to trade using chart and with one system per week, even then he was all over the place with the system. While using Ichimoku he will draw random lines for support and resistance. Then he will draw lines from Bollinger band to Ichimoku. He will draw a triangle, and a quadrilateral… Sometime one feels that he is learning mathematical shapes. He really is all over the place. His two three long term followers , will continue to say 'yes, Guru ji', Yes-Yes Guru ji'
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