Nifty Journal - 1st January

 Started the year with the loss. Cleary there was a W pattern with support at the bottom, still shorted Nifty.

Simple stoploss - 30 points , Target = 100 points. Target will be the resistance of previous day. No need to play reversal. If one wants, one can play reversal at 3 PM with 1/4th risk.





Comments

Post a Comment

Popular posts from this blog

Image
 Trading Journal - 2 Dec 21 MISTAKE - Didn't follow rules. After SL hit take double position and double target. IndusInd Bank Indigo IEX Biocon - Take profit at the moving average with a SL of .5% Today the market was all +ve so need to take profit early in all short stocks. If the market is negative then I can let profits run in shorts but in a +ve market in any +ve candle need to get out of the short trade. In ONGC did the mistake of shorting the stocks on seeing the third red candle. It was a buy stock wth stoploss  below the 5th candle wick. Sun Pharma - it was a buy call - higher high in first 3 candles In Axis bank entry was correct but trailing stoploss should have been used especially if there is a bullish engulfing candle at the bottom  Heromotoco - followed the rules and earned the profit Learning for today - Always follow rules and cut your losses. If more than 2 stoplosses in a trade don't enter again. Also, once overall loss for the day is 2% of the overall c...
Read more