Here are the results of the watchlist today.
Heromoto was a wrong trade on my part. I am posting this specifically to drive home the point as to what happens when we break our own rules. It took 16 points away and gave me a bad start to the day. Needless to say, this affects the psychology of a trader in the next trade as well. My next trade was in Relaince and was a winner but I had to cut down my position size and could not reap the full benefit of the move in Reliance just because of the SL hit in Heromoto.
In the second half Reliance gave another long entry that moved well. This setup is very different than the one that I normally trade and is a bit riskier as well. Thats the reason I traded small quantity with a wider SL. The SL can always be trailed once the trade moves in our favor. All in all a mixed day.
Thank you Yashraj bhai.. went through ur entire trades since august.. Must say, for the first time, I am gaining little confidence regarding intraday trading.
ReplyDeleteGreat Anonymous ji....It would be better to have your name instead of anonymous, but if you have your reasons for the same...I respect your decision! Trading is a process that takes a lot of effort and time and mentoring to break through to success. Many traders give up too soon. I am happy I am able to make a positive difference to your outlook towards trading. Good luck!
DeleteEvery wrong turn makes us cautious to turn right.Every trader goes through this phase many times. Deep inside mind a compulsive behaviour lives. Not because of trading but the compulsive decesions we take in our life & this runs in thousands of activities we do in our life. This very compulsive act finds in the trade we take. Hence its ok to accept this. Acceptence opens the door of correction. I used to write my silly mistakes and paste on a clip board near my trading system in the initial days. Just to hammer the point that i need to take a U turn. A wise trader once said "Chart should talk to you" . Take care & keep the diary running :)
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