My Trading Journey

No matter what happens, you have to adhere to a rule. The trade was so simple here. Below were some of the confirmations for this trade: 1. Open = Low 2. Above 200 Moving average. 3.  Three white soldiers. Even though the overall sentiment was negative, this stock was making higher highs. Was perfect buy. NavinFluor - Could have easily made 7-8% The next stock was AegisChem. It was a perfect buy but then due to overtrading and wrong trade only thing I did was make loss and gave a lot of brokerage.

 My 5 minute strategy was going perfectly fine. I had made around 40% on my account in 6 months. I was following it very diligently. But today out of nowhere I shorted TataCommunications at 915. Didn't wait till 920. As I thought the world market is down and this stock is already 3% up. It will come down. As a result of this wrong trade my overall account was decreased by 10%. Need to follow strategy no matter what happens. Strategy: 1. Short at 920 2. Buy on 5 minute high. 3. Take half profit on 2% and in case of reverse at 1%. Due to this wrong trade the whole day was lost and I also made losses on other account. Overcame by guilt and emotional stress of taking a wrong trade , took all the wrong trades in other account and there also lost around 8% of my account.Follow your rules and trades without any emotion - this is the biggest takeaway from today.