Post and discuss your trades and views for Nov Week 2.
I hope this is correct spot… My biggest loss session today.
My mistake: Trading without stop-loss position.
You sometimes cannot help yourself from entering a wrong trade. But you can always exercise your right to exit a wrong trade the moment you realize it. Don’t try and make up for this loss. Watch and trade the price.
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Please share what did you buy/sell at what price.
I thankyou for your bold step to come forward & post a loss making trade which generally people hide away.
We can analyse what went wrong in your trade.
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Today I made a loss of Rs 24k. It was purely my own mistake I bought Titan @ 794. As per my strategy I always short at overbought zone and exit after it gets near to oversold. But due to over optimism I bought it at overbought zone and booked loss.
I covered some loss by Shorting it in futures. Already it’s +6000, tomorrow based on market movement I will exit this position.
Any suggestions you can give me.
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Titan did bounced back to 795 levels in afternoon after showing 824 levels in morning.
What time you entered???
Secondly, at what price you shorted in futures because I am worried. It could go up further.
Trades in an overoptimistic region where you buy in an overbought zone has to be quick. Small target, tight stoploss. Sometimes, you see a run-up and feel you’ve missed it. A run-up you missed was never meant to be yours. But if you still buy at higher levels, it’s not a sin, but it has to be quick.
The moment you see a reversal, you have to cut and reverse. Don’t get attached to your trade, get attached to the price movement. Because what matters at the end of the day is not what you thought but what actually happened.
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You know INFIBEAM stock kept on rallying madly today & if you had shorted there, you would have been in loss.
Every share price reacts differently to same conditions. Titan fell down from 824 to 750 & moved up to 795 but after taking long time.
But infibeam kept on going higher n higher until in last half hour it started declining.
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Today was a day to make big profit. I missed it though but kept watching the market all day.
Missed many opportunities today. Didn’t trade.
But yes as its said, sometimes no loss is also a profit. But at the same, I missed many opportunities which may add up to my mental psychological loss!!
Titan can go up further , so I am not convinced with your short position. Its 50- 50 chances.
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Yes I understood your point. I got a chance to exit at 796 but didnt exit. But I wasn’t quick and was attached to the trade. Well I will follow your advice.
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I will see the opening tomorrow and make a choice.
2:35. I got a chance to exit. Anyway loss is loss. Next I will avoid this kind of mistakes
This forum lacks participation from other members. I feel only one thing!! Are we not having enough profitable traders? Had it been the case then people would have jumped in with screenshots showing profits!!
I know its human tendency & if things don’t go in your favor then you prefer to isolate from others because of bitter mood.
I believe profit n loss are 2 sides of a same coin.
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Its not your fault. Your technicals were also not wrong. When titan again gave a breakout above 790 levels, it was heading towards 800 & above.
Titan had already consolidated whole day in a range of 760 - 775 levels after making a high of around 824 levels in the morning. Entire day it had huge buying interest maintained which kept the price moving up slowly n gradually.
When it gave a breakout above 790 levels, it was a clear indication of going long.
But markets can prove all technicals n fundamentals wrong at any time. In many stocks, this breakout worked perfectly. I have countless examples of such stocks which followed similar pattern but successfully gave breakouts in second half of market hours.
So, nobody is to be blamed. Nobody was at fault. Sometimes, its just not your day.
Always remember you have 50- 50 chance in any trade. Either you will be profitable or you will make a loss.
Despite all technicals & fundamentals in place, the overall odds remain same for everyone in the markets.
There are only 2 outcomes of a trade. Profit or loss.
Very true what u said
Very much true… Accepting losses as soon as we recognize it as wrong move is the key to success !
Good you frankly shared your trade… this is learning and trading process is continuous improvement process…
In trading one should remain faithful to himself ; this is very imp. this gives inner true confidence about self…
W.r.t topic title I would like to share you that I did made some profits today in bank nifty trading.
Continuous improvement form mistakes …and implementing our learning is the only key to success in trading , i believe.
This is very good forum…keep sharing knowledge and experiences !
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I have Already Shared My Today’s Trades.
Stratergy which I used to trade I have Already Shared.
Had a Good day While Testing Zerodha.
From last 4 sessions I started trading in commodities and observe a interesting pattern of nickel and mentaoil. Friends as a group member I sugest to watch commodity also a safe and good bet because nifty is in life time high and vix increased every passing day . so in my point of view nifty is standing in that zone where a minor negative news can give huge correction …
So coming back to mcx…
Nickel from past 4 days opening a gap up of 10 to 12 point so I take position at night after 10 pm and booked 5 to 6000 profit in morning at opening. Though I tried this only last 2 days but will continue This strategy for some more days…
Second
Menthaoil daily starts at 1.5 to 2% up side and by evening 5 it locked in 4% circuit because no seller remains. So I planed to try it tomorrow if the trend continue book 5 k profit in nickel in the morning and soon after that take position in menthaoil. And again in night will buy nickle…
…
Friends if any suggestion on this strategy most welcome
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